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02.18.2019

Where are consumer tech valuations

We follow 59 publicly traded consumer tech companies (B2C) in industries like social media, marketplaces, subscription, and ecommerce.  Given the diversity of industries, the multiples vary (enterprise value/revenue).  Below is the data along with a few observations.     Social……

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02.15.2019

SaaS valuations are steady

SaaS multiples look steady: of the 82 SaaS companies we follow, the average public SaaS business is trading at 10.03x revenue while the median is 7.72x.  Interestingly, the gap between the average and median has never been larger for the……

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02.14.2019

Growth rounds may be better than an exit

PwC and CB Insights put out their annual report on venture capital and it’s fantastic.  One of the slides buried way in the back discusses M&A of venture backed companies.  The insights are valuable so we’re posting the slide below.……

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02.13.2019

Attracting seed capital is harder than ever

PwC and CB Insights put out their annual report on venture capital and it’s fantastic.  A few trends jump out that are remarkable, with big implications for founders now and VC in the future. Venture funding up, deals down.  Checks……

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02.12.2019

The right level of dev spend

We looked at the R&D spend of tech companies at IPO and in prior years (usually Series B to D rounds) to answer the question ‘what is the right level of spend on R&D’.  The data is below and varies……

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