Dev spend at tech companies

We looked at the R&D spend of tech companies at IPO and in years prior to answer the question ‘what is the right level of spend on R&D’. The data is below and varies by industry. SaaS spend is consistently……

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The demise of Blackberry

I recently read Losing the Signal by Jacquie Mcnish. If you were addicted to your Blackberry, it’s a must ready. It’s also a fantastic read if you want to learn how to avoid mismanaging your market position. Below are some……

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The Snapchat story

I recently read How to Turn Down a Billion Dollars, The Snapchat Story by Billy Gallagher. The book is fantastic and full of lessons. It’s well worth the read, but below are some of the passages we learned from. Snapchat……

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Revenue multiples for internet companies

Below are revenue multiples for publicly traded consumer tech companies we follow (B2C). Industries and therefore multiples vary widely. Commentary is below. Social media is 9.9x. While the revenue multiple is still strong, it’s down from highs of ~14x in……

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The Series A Valuation Report

What valuations are founders asking for when they raise their Series A? Since May 2018 when we started tracking this data, we’ve had conversations with 576 companies about their Series A rounds. Figures below like revenue, valuation, and round size……

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