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Like the downturns in 2008 and 2001, this has been a very trying time for entrepreneurs running startups. Join a CEO peer group. If you are in a peer group with other CEOs , it’s much easier to get perspective on what’s happening to you. I can personally attest that it’s very easy for a startup CEO to feel alone and isolated.
2004 gave us widespread blogging and Meetups, and 2008 showed how the web could be a community organizing and fundraising tool. One of the best things any investor can do is to pull back from the day to day of getting pitches and think about high level trends. What areas are going to change? What areas need to be disrupted? Reader beware.).
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. To be fair to Ben Horowitz – I think he thinks this as well.
“This essay is dedicated to the great VC’s on my board who I am lucky to work with: Sameer Gandhi from Accel, Jeremy Liew from Lightspeed, and Kirsten Green from Forerunner. I read Andy’s post with a knowing smile on my face. But VC is like congress. Because they know him or her. They see how hard she does her job.
He was raising money initially in the worst market in a decade (we met in 2008), he’s in his mid-40′s, is doing a mom’s site (he has no kids) and he has a JewFro. 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. I know this guy is a money maker.
We started the firm in 2008, on the cusp of the Global Financial Crisis, and it’s somehow fitting to be entering our 15th year as the laws of financial gravity reassert themselves once again. Founders’ Co-op turns fifteen this year. By contrast, venture capital is a craft that defies both speed and scale.
The Canada-based company got its start in 2008 as the payment processing company Zomaron, and rebranded itself as Paystone in 2019. While most of the company’s peers focus on product companies, Al-Ansari saw how underserved the service side was: their needs are different, and unlike retail, aren’t looking to sell online.
It’s a different kind of milestone for me as an investor: 10 years ago I led the company’s Seed round and joined the board, where I served until the Series C. I know this is a familiar experience for many of my peers in Venture Capital. And 10 years is a long time to wait in any career before achieving an important milestone.
Also, it’s why I started an Impact Hub (Amsterdam, 2008), why I served on the global Board (2015-2018) and contributed through other roles, and why I want to continue to serve the network. We’re excited to share that Tatiana Glad joins the Impact Hub global team as our new Executive Director. A: A pragmatic visionary! Why this role?
Jill shared lessons learned and more in a blog post to mark the occasion. Below is an excerpt from the original article. I’m incredibly grateful for the amazing customers and employees who brought us to this milestone! To celebrate our anniversary, I’m sharing a few pivotal lessons I have learned during each of these wonderful years. I was nervous!
Exit and IPO activity have dropped precipitously, and funding has declined across the board. Their DNA was wrapped up in a VC mindset that starting valuations were less important given the lofty later stage valuations and frothiness at that end of the market (hence over 1000 “unicorns” today vs only 8 in 2008 and 1 in 2001).
( Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions. ) That is why inflation, at least from a goods perspective, will remain sticky. I discussed this at length in “Energy Cancelled”.
Vidit Aatrey is cofounder and CEO of Meesho. Meesho is a platform in India that allows people to resell products using their social networks. They were in the Summer 2016 batch of YC and you can check them out at Meesho.com. Adora Cheung is a Partner at YC. Before working at YC she cofounded Homejoy. 00:00 – Intro.
Raising money is hard. And when you’re relatively new to the process it’s easy to be confused by the process. There is all sorts of advice on the Internet about how to raise capital. Of course much of it is conflicting. And of course I’ve sat on the other side of the table: As a VC. Partners make investment decisions. Why buy me?
Things have changed at the very highest levels, beginning with the election of President Obama in 2008, which can’t be understated for its impact on people of color. Here’s ours: Skip the board and tap employees for ideas. While the board room is becoming a more diverse place , ultimately, this isn’t where progress is made.
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