Both Sides of the Table

DECEMBER 11, 2022

We had nascent revenues, ridiculous cost structures and unrealistic valuations. I learned to avoid unnecessary conferences, avoid non-essential costs and strive for at least a neutral EBITDA if for no other reason than nobody was interested in giving us any more money. Until we weren’t.

Valuation 466

Valuation San Francisco Ratchet Liquidation Preference 466

YoungUpstarts

AUGUST 31, 2017

And as the Internal Revenue Service continues to wage war against fraud and identity theft, filing clean, complete returns is key — especially as your business scales. If your startup is eyeing international expansion early on, your tax compliance and planning needs, both home and abroad, immediately ratchet up. Use your resources.

Ratchet 113

Ratchet Merger New York Engineer 113

Both Sides of the Table

SEPTEMBER 18, 2014

At an accelerator … Me: Raising convertible notes as a seed round is one of the biggest disservices our industry has done to entrepreneurs since 2001-2003 when there were “full ratchets” and “multiple liquidation preferences” – the most hostile terms anybody found in term sheets 10 years ago. Your A round?

Venture Capital 417

Venture Capital Liquidation Preference Valuation Term Sheet 417

Gust

SEPTEMBER 17, 2014

Me: Raising convertible notes as a seed round is one of the biggest disservices our industry has done to entrepreneurs since 2001-2003 when there were “full ratchets” and “multiple liquidation preferences” – the most hostile terms anybody found in term sheets 10 years ago. Revenue multiple? At an accelerator …. Your A round?

Liquidation Preference 153

Liquidation Preference Valuation Term Sheet Stock 153

Up and Running

APRIL 27, 2012

These students are typically attracted to Internet and technology start-ups, given that these share favourable industry characteristics such as significant addressable markets, low barriers to entry, modest initial capital requirements and relatively low costs of customer acquisition. These entrepreneurs soon find out it is not.

Metrics 68

Metrics Nigeria Ratchet Churn Rate 68

Tim Keane

JANUARY 12, 2010

3]   However, if they are built bottom up, they demonstrate and make explicit a range of business model assumptions the entrepreneur is using to think about his business and its revenue model.   It is very expensive if you’re the entrepreneur since it doubles the cost to the company of paying dividends to the entrepreneur.

Term Sheet 68

Term Sheet Valuation Dividend Liquidation Preference 68

Jeff Hilimire

OCTOBER 7, 2013

And get this, over 80% of ALL REVENUE generated from mobile devices was via games. That’s huge because it was two years ago and that number is likely closer to 15% now, and mobile games are a fraction of the cost of console games. Yeah, I’ll bet on that. Zynga has shown us that gaming is huge, but mobile is the future.

Mobile 48

Mobile Ratchet IPO Atlanta 48