Pascal's View

JULY 9, 2017

This is a fundamental issue that does, indeed, boil down to understanding the post-money valuation of a company. At its core, this issue points to the lack of understanding about the importance of post-money valuation by both entrepreneurs and investors.

Post-Money Valuation 49

Post-Money Valuation Valuation Cap Table Covenant 49

Agile VC

APRIL 17, 2011

Last week ZipCar began trading and has a market cap of about $1 billion. Only 7% of the search queries are performed by users referred by search engines, meaning Kayak’s brand is very strong and they continue to build it ($39M spent in 2010 on brand advertising, nearly $92M in total marketing spend). Quinstreet priced at $15.00/sh

Pre-Money Valuation 113

Pre-Money Valuation Liquidation Preference Dividend Common Stock 113

Lightspeed Venture Partners

SEPTEMBER 21, 2013

Josh Brooks, who ran marketing for MySpace for three years, is the founder of a company that lets users take photos form their phones, and then use those photos to send postcards in the real world to their friends and family. to fund the company at a $6M post money valuation from a number of investors including Selena Gomez.

Pre-Money Valuation 167

Pre-Money Valuation Valuation Dilution Distribution 167

Both Sides of the Table

AUGUST 1, 2010

The fact that I invest less just means the company is earlier stage and needed/wanted less or without a product/market fit we weren’t yet prepared to invest more heavily. Like Brad Feld I’m syndication agnostic but I have a slight preference toward working with others. We have a limited amount of deals we will do.

Post-Money Valuation 298

Post-Money Valuation Term Sheet Warrant Partner 298

Rob Go

MAY 20, 2014

As seed rounds have become much more common, it’s been said that the “seed is the new series A” This is sort of true – it used to be that Series A’s would often happen pre-product, and certainly before product-market fit. There are broadly three buckets of series A’s, and therefore, three valuation buckets.

Valuation 76

Valuation Dilution Post-Money Valuation Syndication 76

www.paulgraham.com

APRIL 28, 2010

Mechanics Angel investors often syndicate deals, which means they join togetherto invest on the same terms. In a syndicate there is usually a"lead" investor who negotiates the terms with the startup. Dont feel like you have to join a syndicate, though. The valuation determines how much stock you get. million, and youget.05/1.05,

Angel Investor 63

Angel Investor Syndication Syndicate Dilution 63