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Closing a VC fund in 2009/10 is a major achievement in and of itself. Founded in November 2007 in New York City by Alexis Maybank and Kevin Ryan (co-founder of DoubleClick); CEO is Susan Lyne (ex-CEO Marta Stewart Living Omnimedia) Revenue estimates: $50mm in 2008; $170mm in 2009 (versus budget of $150mm); $450mm forecasted for 2010.
I was an angel investor in his company, made a bunch of calls on his behalf and then I personally sent it out on AngelList. Through this process he raised $2 million. When I described to people why I initially invested my calls went something like this, “He’s taken kicks to the face for nearly 2 years and is still standing.
A 2018 study of 63 drugs approved by the FDA between 2009 and 2018 found that the median capitalized research and development investment needed to bring a drug to market was $985 million, which also includes the cost of failed clinical trials. . Previously, the company had raised $51.3 million in funding, according to Crunchbase. .
“ One summer day, probably in the 1870s, friends of a major short-seller got together on the shores of Newport, Rhode Island, where they admired the enormous yachts of New York’s richest brokers. After gazing long and thoughtfully at the beautiful boats, the short seller asked wryly, ‘Where are the customers’ yachts?’ ”.
The VC market has right-sized (returned back to mid 90′s levels & less competition). Lower costs to start a business (95% reduction), many more companies created & funded by angels / seed. But it still takes VC to scale a business (thus large capital into industry winners like Uber, Airbnb, SnapChat, etc). Why is this?
It was 2009 and it was terribly difficult to get any financing (if you can remember a time like that!) And then of course our friends at TechStars launched an accelerator in collaboration with our friends at Disney so now there was six. My good friend Adam Lilling and I started Launchpad more than 5 years ago . Yeah, he was LA, baby!
Founded as a gaming company called Tiny Speck in 2009, the company’s initial product, Glitch, didn’t catch on as expected. Let’s examine this remarkable company and compare it to Zoom , another recent IPO in enterprise collaboration. Also, we’ll compare metrics to a peer group with similar ACVs.
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