Internet
Why Facebook Clearly Belongs in the 10X Revenue Club
Attached are my thoughts on the Facebook S-1 along with some quick stabs at valuation. Brief disclosure, Benchmark Capital has a minority position in Facebook as a result of the acquisition of FriendFeed, a company that was incubated in our offices. I thought it would be useful to look at Facebook using the scorecard from our [...]
Read Full Post | Make a Comment ( 49 so far )Understanding Why Netflix Changed Pricing
Many journalists have offered their opinion on Netflix’s recent changes, its stock price decline, and their even more recent branding changes (Qwikster). Yet in each article, it appears as if the journalist all agree that the price move (creating separate prices for streaming and DVDs) was a bad strategic move. As an example, Techcrunch notes: “Raising prices for those of [...]
Read Full Post | Make a Comment ( 144 so far )On IPOs: If You Are Going To File, Make Sure You Price
As you likely know, I am a big believer that the IPO can play a key role in the development of a company’s life. Moreover, I have argued that many in our ecosystem have an unhealthy anxiety regarding the dangers and consequences of being public. Lastly, I have argued that the IPO window is wide [...]
Read Full Post | Make a Comment ( 9 so far )All Revenue is Not Created Equal: The Keys to the 10X Revenue Club
[Follow Me on Twitter] “ Don’t you know that you are a shooting star, And all the world will love you just as long, As long as you are.” – Paul Rodgers, Shooting Star With the IPO market now blown wide-open, and the media completely infatuated with frothy trades in the bubbly late stage private market, [...]
Read Full Post | Make a Comment ( 87 so far )The Freight Train That Is Android
[Follow Me on Twitter] “People get ready, there’s a train a comin’” – The Impressions From Zacks via Yahoo: Mark Vickery, On Thursday March 24, 2011, 4:58 pm EDT “BlackBerry maker Research In Motion (NasdaqGS: RIMM – News) beat its fiscal 4Q EPS estimates by 2 cents per share, but missed slightly on quarterly revenues and [...]
Read Full Post | Make a Comment ( 259 so far )Silicon Valley’s IPO Anxiety
[Follow Me on Twitter] “Living in the limelight The universal dream For those who wish to seem. Those who wish to be Must put aside the alienation, Get on with the fascination…” — Limelight from Moving Pictures, Rush If you could travel back in time to the early 1990’s and ask Silicon Valley’s top entrepreneurs [...]
Read Full Post | Make a Comment ( 51 so far )On Google, Growth, Pricing Power, and Valuation Multiples
Last night, Google reported financial results for the second quarter of 2010. While revenue growth was up 24% year over year, revenue was fairly flat compared with Q1 of 2010. Moreover, earnings fell short of average street estimates sending Google down $20 per share (4%) in the aftermarket. Based on current estimates (which might change [...]
Read Full Post | Make a Comment ( 23 so far )Google’s Acquires ITA: Will Deeper Vertical Integration Lead to Higher Revenues?
“It’s funny how fallin feels like flyin, for a little while…” – Jeff Bridges, Crazy Heart Soundtrack On July 1st, Google announced its intention to acquire ITA Software. ITA owns a primarily B2B airfare search and pricing system called QPX. Several of the leading online travel sites, like Orbitz, Kayak, and Bing Travel, use information [...]
Read Full Post | Make a Comment ( 18 so far )When It Comes to Television Content, Affiliate Fees Make the World Go ‘Round
“The clock on the wall’s moving slower My heart it sinks to the ground And the storm that I thought would blow over Clouds the light of the love that I found” – Fool in the Rain, Led Zeppelin More often than not, we here in Silicon Valley are prone to idealism. We see a [...]
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