From Good to Great: How to Ace Your Marketplace FundraiseBattery Ventures
At the Marketplace Conference Online December 2020, Battery Ventures' Justin Da Rosa teamed up with Speedinvest's Philip Specht on the core marketplace metrics investors evaluate during the fundraising process from seed to growth.
With so many options to choose from, real estate investors are regarded as "easiest to find, most difficult to close". If you want your pitch to stand out, you've got to generate credibility, trust and a professional connection - within the space of an 8-minute pitch.
Luckily, Unicorn's here to help. Because we've pitched hundreds of investors and (unlike others) actually raised capital for both publicly-listed and private companies, we know how to get a deal across the table in a way that's concise, clear and effective.
We are big advocates of transparency at Seedcamp and understand first hand just how tough the fundraising process can be. It's not just startups who go through this but funds too. In the spirit of openness, we're sharing the deck we used to go out to investors for Seedcamp Fund IV.
Read more about our plans to invest in 100 new European startups with our biggest and boldest fund yet over on our blog: http://seedcamp.com/seedcamp-fund-iv-announcement/
Bessemer uncovers the year’s top trends and insights in the global cloud economy, including how the model is only getting better, and why being a Centaur is the new milestone to celebrate.
Read the full report: https://www.bvp.com/atlas/state-of-the-cloud-2022
From Good to Great: How to Ace Your Marketplace FundraiseBattery Ventures
At the Marketplace Conference Online December 2020, Battery Ventures' Justin Da Rosa teamed up with Speedinvest's Philip Specht on the core marketplace metrics investors evaluate during the fundraising process from seed to growth.
With so many options to choose from, real estate investors are regarded as "easiest to find, most difficult to close". If you want your pitch to stand out, you've got to generate credibility, trust and a professional connection - within the space of an 8-minute pitch.
Luckily, Unicorn's here to help. Because we've pitched hundreds of investors and (unlike others) actually raised capital for both publicly-listed and private companies, we know how to get a deal across the table in a way that's concise, clear and effective.
We are big advocates of transparency at Seedcamp and understand first hand just how tough the fundraising process can be. It's not just startups who go through this but funds too. In the spirit of openness, we're sharing the deck we used to go out to investors for Seedcamp Fund IV.
Read more about our plans to invest in 100 new European startups with our biggest and boldest fund yet over on our blog: http://seedcamp.com/seedcamp-fund-iv-announcement/
Bessemer uncovers the year’s top trends and insights in the global cloud economy, including how the model is only getting better, and why being a Centaur is the new milestone to celebrate.
Read the full report: https://www.bvp.com/atlas/state-of-the-cloud-2022
With an increase in regulatory compliance, innovation in technology has become increasingly prevalent throughout the professional and financial services. With the birth of RegTech, we ask, what is it, and how can it be effectively utilised by firms across sectors.
Battery Ventures State of the OpenCloud Report 2022Battery Ventures
Battery Ventures' 2022 State of the OpenCloud report, compiled by General Partner Dharmesh Thakker and his team Danel Dayan, Jason Mendel and Patrick Hsu. The report analyzes the macro technology and economic trends impacting the cloud market, and provides advice for cloud-native entrepreneurs who are navigating these trends to build large, enduring businesses.
We’re thrilled to announce that we’ve raised Kleiner Perkins’ 18th venture fund -- $600 million to focus on early stage investing. This marks 47 years for our firm, and with a fresh team and strategy, we’re incredibly excited for the next 47 years.
Trulia Founder & NFX (www.nfx.com) Managing Partner Pete Flint uncovers what's really happening in PropTech and why you should care (hint: it will be a massive opportunity).
From Bessemer Venture Partners, Partner Mary D'Onofrio releases the definitive benchmarking report on how cloud companies grow operationally efficient businesses and scale to $100 million in ARR (and beyond).
Continuing our tradition and in the spirit of transparency we are sharing the deck we used to raise our oversubscribed Fund VI. We hope it continues to help emerging fund managers and shows founders who have to constantly fundraise that we go through it too!
Read more about our plans to invest in and support the next generation of exceptional European talent on our blog: https://sdca.mp/SeedcampVI
All data taken at Q2'22, investment disclaimers and regulatory notices have been removed from the public version of this deck.
In State of the Cloud 2021, we explore the major milestones and changes within the cloud economy and original analysis on what’s driving today’s private cloud valuations. In addition, we share new frameworks and emerging strategies to help founders measure growth endurance and drive go-to-market momentum. Plus, we dive into our seven predictions for 2021.
Top takeaways
Cloud companies have not just reset in the New Normal, but have thrived with a record-breaking market capitalization of more than $2 trillion.
There’s been a changing of the guard afoot: MT SAAS has overtaken FAANG.
Cloud multiples are rising to new heights, with both public and private cloud trading over 20x.
Cloud growth rates and access to capital are at all-time highs, with the average Cloud 100 company growing 80% YoY and $186 billion going into private cloud companies in 2020 alone.
Good-better-best of growth endurance is 70%-75%-80%.
GTM strategies have adapted in the New Normal; best practices include product-led growth, usage-based pricing, and the adoption of cloud marketplaces.
Transparency is one of our core values at Seedcamp and we are no strangers to how tough the fundraising process can be. In a continued spirit of openness and to show how - like with startups - our own story and proposition moves on, we're sharing the deck we used to raise our heavily-oversubscribed Seedcamp Fund V.
Read more about our plans to invest in and support the next generation of exceptional European talent on our blog: https://seedcamp.com/news/
Silicon Valley Bank and Orrick supported by CB Insights released this years new York Venture Capital Almanach 2013: a useful snapshot of where the New York venture community is right now, as well as a brief summary of
where we’ve been.
Long Journey Ventures Fund 1 - VC Pitch Deck ExamplePitch Decks
Founded by former AngelList partner Lee Jacobs, Long Journey Ventures operates a unique model based around a federation of angel investors and operators.
Every member of the Long Journey team has started a company and invested personal money into startups for close to a decade. The firm has invested in seed rounds across industries: ranging from healthcare to project management software.
Long Journey has backed notable startups like Affirm, Notion, Loom, Uber, and SpaceX.
This document brings together a set
of latest data points and publicly
available information relevant for
Financial Services. We are very
excited to share this content and
believe that readers will benefit from
this periodic publication immensely.
This document brings together a set of latest data points and publicly available information relevant for Insurance Industry. We are very excited to share this content and believe that readers will benefit from this periodic publication immensely.
With an increase in regulatory compliance, innovation in technology has become increasingly prevalent throughout the professional and financial services. With the birth of RegTech, we ask, what is it, and how can it be effectively utilised by firms across sectors.
Battery Ventures State of the OpenCloud Report 2022Battery Ventures
Battery Ventures' 2022 State of the OpenCloud report, compiled by General Partner Dharmesh Thakker and his team Danel Dayan, Jason Mendel and Patrick Hsu. The report analyzes the macro technology and economic trends impacting the cloud market, and provides advice for cloud-native entrepreneurs who are navigating these trends to build large, enduring businesses.
We’re thrilled to announce that we’ve raised Kleiner Perkins’ 18th venture fund -- $600 million to focus on early stage investing. This marks 47 years for our firm, and with a fresh team and strategy, we’re incredibly excited for the next 47 years.
Trulia Founder & NFX (www.nfx.com) Managing Partner Pete Flint uncovers what's really happening in PropTech and why you should care (hint: it will be a massive opportunity).
From Bessemer Venture Partners, Partner Mary D'Onofrio releases the definitive benchmarking report on how cloud companies grow operationally efficient businesses and scale to $100 million in ARR (and beyond).
Continuing our tradition and in the spirit of transparency we are sharing the deck we used to raise our oversubscribed Fund VI. We hope it continues to help emerging fund managers and shows founders who have to constantly fundraise that we go through it too!
Read more about our plans to invest in and support the next generation of exceptional European talent on our blog: https://sdca.mp/SeedcampVI
All data taken at Q2'22, investment disclaimers and regulatory notices have been removed from the public version of this deck.
In State of the Cloud 2021, we explore the major milestones and changes within the cloud economy and original analysis on what’s driving today’s private cloud valuations. In addition, we share new frameworks and emerging strategies to help founders measure growth endurance and drive go-to-market momentum. Plus, we dive into our seven predictions for 2021.
Top takeaways
Cloud companies have not just reset in the New Normal, but have thrived with a record-breaking market capitalization of more than $2 trillion.
There’s been a changing of the guard afoot: MT SAAS has overtaken FAANG.
Cloud multiples are rising to new heights, with both public and private cloud trading over 20x.
Cloud growth rates and access to capital are at all-time highs, with the average Cloud 100 company growing 80% YoY and $186 billion going into private cloud companies in 2020 alone.
Good-better-best of growth endurance is 70%-75%-80%.
GTM strategies have adapted in the New Normal; best practices include product-led growth, usage-based pricing, and the adoption of cloud marketplaces.
Transparency is one of our core values at Seedcamp and we are no strangers to how tough the fundraising process can be. In a continued spirit of openness and to show how - like with startups - our own story and proposition moves on, we're sharing the deck we used to raise our heavily-oversubscribed Seedcamp Fund V.
Read more about our plans to invest in and support the next generation of exceptional European talent on our blog: https://seedcamp.com/news/
Silicon Valley Bank and Orrick supported by CB Insights released this years new York Venture Capital Almanach 2013: a useful snapshot of where the New York venture community is right now, as well as a brief summary of
where we’ve been.
Long Journey Ventures Fund 1 - VC Pitch Deck ExamplePitch Decks
Founded by former AngelList partner Lee Jacobs, Long Journey Ventures operates a unique model based around a federation of angel investors and operators.
Every member of the Long Journey team has started a company and invested personal money into startups for close to a decade. The firm has invested in seed rounds across industries: ranging from healthcare to project management software.
Long Journey has backed notable startups like Affirm, Notion, Loom, Uber, and SpaceX.
This document brings together a set
of latest data points and publicly
available information relevant for
Financial Services. We are very
excited to share this content and
believe that readers will benefit from
this periodic publication immensely.
This document brings together a set of latest data points and publicly available information relevant for Insurance Industry. We are very excited to share this content and believe that readers will benefit from this periodic publication immensely.
This document brings together a set of latest data points and publicly available information relevant for Business Services Industry. We are very excited to share this content and believe that readers will benefit from this periodic publication immensely.
Software 2018: Where Are We Now and Where Are We Going?Battery Ventures
Initially presented at CloudNY as follow up to last year’s Software 2017, this year’s presentation—authored by Battery’s Neeraj Agrawal and Logan Bartlett–provides an update on the shifting software landscape and just where things are headed.
This document brings together a set
of latest data points and publicly
available information relevant for
Insurance Industry. We are very
excited to share this content and
believe that readers will benefit from this periodic publication immensely.
This document brings together a set
of latest data points and publicly
available information relevant for
Financial Services Industry. We are
very excited to share this content and believe that readers will benefit from
this periodic publication immensely.
This document brings together a set of latest data points and publicly available information relevant for Utilities Industry. We are very excited to share this content and believe that readers will benefit from this periodic publication immensely.
FiinPro Digest #3: Covid-19 Pandemic: Assessing the Impacts from Corporate Fi...FiinGroup JSC
This Report is part of “FiinPro Data Digest” series and prepared
primarily for subscribers of FiinGroup’s financial information and
data platforms. As noted in previous issues, FiinPro Data Digest
focuses on analyzing financial data to give commentaries and
findings with specific data-driven evidence in order to provide
independent and in-depth perspective on securities and financial
issues.
Download:
VIE version: https://bit.ly/3ezcM31
EN version: https://bit.ly/3gRUbkW
This document brings together a set of latest data points and publicly available information relevant for Financial Services Industry. We are very excited to share this content and believe that readers will benefit from this periodic publication immensely.
TIMIA Capital Corporation is a specialty finance company that provides growth capital to technology companies in exchange for payments based on monthly revenue. This alternative financing option complements both debt and equity financing, while allowing entrepreneurs and existing stakeholders to retain ownership and control of their business. TIMIA’s singular focus is the fast growing, global, business-to-business Software-as-a-Service (or SaaS) segment. We align ourselves with entrepreneurial management teams growing their sales from $1 Million to $10 Million in Annual Recurring Revenue. For more information about TIMIA Capital Corporation, please visit www.timiacapital.com
Mercer Capital's Portfolio Valuation: Private Equity and Credit | Q1 2020Mercer Capital
Mercer Capital's Portfolio Valuation: Private Equity and Venture Capital Marks and Trends Newsletter provides a brief digest and commentary of some of the most relevant market trends influencing the fair value regarding private equity portfolio investments.
This document brings together a set of latest data points and publicly available information relevant for IOT & AR. We are very excited to share this content and believe that readers will benefit immensely from this periodic publication immensely.
The Blue Sky Report® - A Kerrigan Quarterly – First Quarter 2020 PreviewErin Kerrigan
The Blue Sky Report®, published by Kerrigan Advisors, is the auto retail industry's most comprehensive and authoritative quarterly report on dealership M&A activity, as well as franchise values. The quarterly report, received by over 9,000 industry recipients in 35 countries, includes analysis of all dealership transaction activity for the year, and lays out the high, average and low blue sky multiples for each franchise in the luxury and non-luxury segments. To sign up to receive the quarterly report, please visit: https://www.kerriganadvisors.com/the-blue-sky-report/
This document brings together a set
of latest data points and publicly
available information relevant for
Insurance Industry. We are very
excited to share this content and
believe that readers will benefit from
this periodic publication immensely.
This document brings together a set of latest data points and publicly available information relevant for Insurance Industry. We are very excited to share this content and believe that readers will benefit from this periodic publication immensely.
The Battery Ventures Gen Z Snapshot report explores the consumer preferences and behaviors of Gen Zers, born between 1997 and 2012, the potential cross-industry impact from this generation and the opportunities ahead for technology investment.
Battery's annual State of the OpenCloud report, which highlights mega-trends—including cloud computing and the rise of open-source technology—that are upending today’s enterprise-IT market.
Software 2017 - Where are we now and where are we going?Battery Ventures
Software 2017. Originally presented by Neeraj Agrawal at CloudNY, a conference for founders and CEOs of breakout cloud and SaaS companies, on May 18, 2017. For more information on CloudNY and to register for CloudNY 2018, visit cloudny.com.
This presentation from Dawn Lyon, vice president of corporate affairs at Glassdoor, was originally given at the Battery Ventures Growth Marketing Summit. During her presentation, Dawn shared the data-driven storytelling playbook she helped drive at both Glassdoor and Zillow, and advice for marketers on implementing a similar playbook in their organization.
This presentation from Anthony Kennada, vice president of marketing at the customer success startup Gainsight, was originally given at Battery’s recent Growth Marketing Summit. During his talk, Anthony shared how he and the Gainsight team set out to shape the nascent customer success industry, while simultaneously elevating Gainsight to be the leading company in the category. Click through to review his playbook for creating a new industry category, including the power of content marketing and events as well as the importance of analyst relations.
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
Premium MEAN Stack Development Solutions for Modern Businesses
The State of Marketplaces - March 2020
1. The State of Marketplaces – 2020
Roger Lee, General Partner, Battery Ventures
Justin Da Rosa, Vice President, Battery Ventures
Courtney Chow, Associate, Battery Ventures
March 2020
2. Disclaimers
The information provided in this presentation is solely intended for the use of entrepreneurs, corporate CEOs and founders. The
information is current as of the date it was published. The contents are not intended to be used in the investment decision making
process related to any product or fund managed by Battery Ventures. No assumption should be made that the investments
identified within were or will be profitable. It should also not be assumed that recommendations made in the future will be
profitable or equal the performance of the companies identified within.
Content obtained from third-party sources, although believed to be reliable, has not been independently verified as to its accuracy
or completeness and cannot be guaranteed. Battery Ventures has no obligation to update, modify or amend the content of this
presentation nor notify readers in the event that any information, opinion, projection, forecast or estimate included, changes or
subsequently becomes inaccurate.
Battery Ventures provides investment advisory services solely to privately offered funds. Battery Ventures neither solicits nor
makes its services available to the public or other advisory clients. For more information about Battery Ventures’ potential
financing capabilities for prospective portfolio companies, please refer to our website. For a complete list of portfolio companies,
please click here.
The Battery Marketplace Index tracks 40 of the world’s largest marketplace companies. To be included, companies need to be
listed on one of the major global stock exchanges and boast a market capitalization of $500 million or more. You can track the
Battery Marketplace Index here.
This presentation is being provided for informational purposes only. Nothing herein is or should be construed as investment, legal
or tax advice, a recommendation of any kind or an offer to sell or a solicitation of an offer to buy any security.
(As of Nov 2019)
1
5. Note: Contains all Battery Ventures marketplace investments since the firm’s inception. No assumption should be made that the
investments identified above were or will be profitable. For a complete list of portfolio companies, please click here.
Battery Marketplace Investments
E-Commerce
@
Community
& Content
Services Travel Exchange
$375+ million invested
4
Acquired by
6. Source: Cap IQ (as of Mar 2019) – Refers to Enterprise Values. Battery Marketplace Index is market cap-weighted & pro-rated.
* Denotes a current or former Battery portfolio company. No assumption should be made that the investments identified above were or
will be profitable. For a complete list of portfolio companies, please click here.
Battery Marketplace Index (as of Mar ’19)
5
Marketplaces
(50%)
0%
50%
100%
150%
200%
250%
300%
Mar ’12 Sep ’12 Mar ’13 Sep ’13 Mar ’14 Sep ’14 Mar ’15 Sep ’15 Mar ’16 Sep ’16 Mar ’17 Sep ’17 Mar ’18 Sep ’18 Mar ’19
Battery
Marketplace
Index
+199%
NASDAQ:
+158%
467.5B 34.8B 4.0B 5.9B 0.6B 6.6B 33.3B 8.4B 22.3B 29.0B 7.5B
8.1B2.8B
78.5B 22.5B 10.7B 17.8B 156.7B 1.6B 1.3B 19.1B 8.0B 7.1B 3.0B
25.3B15.0B1.9B 7.8B 7.4B 9.0B 6.7B 2.0B 40.4B
2.2B
11.7B
2.2B
* *
*
4.5B
7. The Tide Has Turned from “Growth at All Costs” to a Balance of
Growth & Profitability
AUG
19
Shut Down
Permanently
Slashed IPO
Price Range
Restructured
Organization
Laid Off
20-80%
of its Staff
Discontinued Physical
Product Marketplace
Laid Off ~40% of
its Staff
Raised ~$430M in
’19 in Flat Rounds
Raised $100M in
Flat Round Undisclosed
Layoffs
Shut Down 12
Markets
Divested India’s
UberEats to Zomato
Withdrew IPO
Indefinitely
Cut More Than
1K Jobs
Market Cap Down
50% Since IPO
Delayed
IPO
Laid Off 100
Staffers
OCT
19
SEP
19
DEC
19
JAN
20
FEB
20
NOV
19
6
8. 7
“[W]e need to reduce our burn rate to a sustainable level from which we can focus
on pursuing the mission and growing the business over the long term.
We do not want to be dependent on outside capital, so self-reliance and careful
management of our resources are crucial to our future.”
— ADAM D’ANGELO, QUORA CEO (JAN 2020)
“We recognize that the era of growth at all costs is over…. investors increasingly
demand not just growth, but profitable growth”
— DARA KHOSROWSHAHI, UBER CEO (FEB 2020)
9. ¹ (Cap IQ) From Mar 19, 2019 to Feb 20, 2020. Data shows market cap % change since Mar 19, 2019.
The Last Twelve Months Has Been Turbulent for Marketplace
Businesses…
8
Marketplace stocks took a turn in 2019 with the Uber & Lyft IPOs and exacerbated by the
WeWork implosion. This took place while the broader indexes were up >10%
(20%)
(10%)
0%
10%
20%
30%
40%
Mar ’19 Apr ’19 May ’19 Jun ’19 Jul ’19 Aug ’19 Sep ’19 Oct ’19 Nov ’19 Dec ’19 Jan ’20 Feb ’20
Battery
Marketplace
Index
+4%¹
NASDAQ:
+13%¹
10. 9
Then, COVID-19 Came Along …
COVID-19 Worldwide: The Pandemic’s Impact on the Economy and Markets
U.S. GDP is collapsing as we enter what is expected to be the worst economic contraction
since the Great Depression…
April 6, 2020
‘The Market’s in Panic Mode.’ Stock Markets Plunge 12% Amid Coronavirus Fears
…The negative superlatives for American stocks are piling up. The S&P wiped out its gain
in 2019 and is now down almost 30% from its all-time high…
March 16, 2020
Stocks Plunge, With Dow in Bear Market: Live Updates
…On Wednesday, World Health Organization officials officially designated the
spread of the Coronavirus as a global pandemic…
March 11, 2020
11. Note: (Cap IQ) Share price data as of Apr 27, 2020.
10
… And, the Battery Marketplace Index Only Plunged Further
18%Average LTM Share
Price Change of the
Battery
Marketplace Index
12. LTM Share Price Change of the Battery Marketplace Index
Note: (Cap IQ) Share price data as of Apr 27, 2020. Top half measured as companies whose stock price performed better than the
average, Bottom half measured as companies whose stock price performed below the average. For companies with less than 12 months
of trading history, share price change is measured relative to IPO price.
But, That’s Not the Full Story
11
70%
36%
15%
(18%)
(50%)
(60%)
(65%)
(80%)
(60%)
(40%)
(20%)
0%
20%
40%
60%
80%
Top Decile Top Quartile Top Half Average Bottom Half Bottom Quartile Bottom Decile
16. ¹ Note: Chegg’s 2019 Adjusted EBITDA = $125M (Chegg’s 2019 Annual Report) and Uber’s 2019 Adjusted EBITDA = ($2.7B) (Uber’s
2019 Annual Report) ² Per Cap IQ as of Apr 27, 2020. For Uber, change is relative to IPO share price
The Rule of 40: Explained
15
2019 Net Revenue $411M $14.1B
2019 Net Revenue Growth % 28% 26%
2019 EBITDA¹ $53M ($8.2B)
2019 EBITDA Margin % 13% (56%)
Rule of 40 41 (30)
LTM Share Price Change² +4% (33%)
EV / NTM Revenue Multiple² 10.8x 3.9x
Rule of 40 = Revenue Growth + EBITDA Margin
A
B
A B
17. 70%
36%
18%
(18%)
(47%)
(60%)
(65%)
(80%)
(60%)
(40%)
(20%)
0%
20%
40%
60%
80%
Top Decile Top Quartile Top Half Average Bottom Half Bottom Quartile Bottom Decile
LTM Share Price Change of the Battery Marketplace Index
Note: (Cap IQ) Share price data as of Apr 27, 2020. Top half measured as companies whose stock price performed better than the
average, Bottom half measured as companies whose stock price performed below the average. For companies with less than 12 months
of trading history, share price change is measured relative to IPO price.
The Rule of 40: Efficiency Drives Superior Returns
16
Rule of 40 ~= 50
Rule of 40 ~= 10
18. Rule of 401 vs EV / NTM Revenue Multiple2
Note: 1 Rule of 40 calculated as LTM revenue growth + LTM EBITDA margin from Cap IQ as of Apr 27, 2020, 2 EV / NTM Rev Multiple
from Cap IQ as of Apr 27, 2020.
The Rule of 40: Efficiency Drives Superior Returns
17
8.3x
4.4x
2.4x
0.0x
1.0x
2.0x
3.0x
4.0x
5.0x
6.0x
7.0x
8.0x
9.0x
Rule of 40: 40+ Rule of 40: 30-39 Rule of 40: <30
20. Battery Growth Magic Number > 0
Migrate to subscription pricing
Battery CX Magic Number – 10x ROI
19
Battery’s 3 Rules for an Efficient Marketplace
22. 21
Battery Growth Magic Number = (Rev Growth %) – (S&M % of Rev)
Battery Growth Magic Number > 0
Battery Growth Magic Number <= 0
23. ¹ Cap IQ as of 2019, 2 Cap IQ as of Apr 27, 2020
Rule # 1: Battery Growth Magic Number > 0
22
2019 Revenue Growth1 28% 28% 8%
2019 S&M % of Revenue1 15% 13% 49%
Battery Growth Magic Number 13 15 (41)
LTM Share Price Change2 +4% +18% (43%)
EV / NTM Revenue Multiple2 10.8x 7.8x 1.6x
A
B
A B
24. Average Battery Growth Magic Number vs LTM Share Price Change of the Battery Marketplace Index
Note: (Cap IQ) Share price data as of Apr 27, 2020. Top half measured as companies whose stock price performed better than the
average, Bottom half measured as companies whose stock price performed below the average. For companies with less than 12 months
of trading history, share price change is measured relative to IPO price.
Rule # 1: Battery Growth Magic Number > 0
23
22
10
(2)
(14)
(25)
(30)
(20)
(10)
0
10
20
30
Top Quartile Top Half Average Bottom Half Bottom Quartile
+36% +18% (18%) (47%) (60%)
Battery Growth Magic Number
LTM Share Price Change
25. ¹ Forbes. ² Yelp’s Q1 ‘20 Shareholder Letter.
Rule # 1: Battery Growth Magic Number > 0
24
Encourage Organic Traffic & Virality
Consumers as Creators / Contributors
Chegg has a library of 35M user-generated Q&A;
“evergreen” content that continues to compound
in value over time
Deep Content Library
Chegg owns the solutions to textbook questions
of major publishers (34K ISBNs); all indexed in
SEO
Product-Led Growth Human-Led GrowthVS.
Create Less Dependences on Paid
Marketing Acquisition
Data-Driven Decisions
80% of Netflix content watched is influenced by
its recommendation system¹
Unique & Original Content
A massive data set of consumer behavior allows
Netflix to create original content tailored to new &
existing users
Hyper-Local and High
Commissioned Sales Teams
are not Scalable
Headcount Drives Majority of Cost
Yelp is dependent on their 3.5K+ local
sales force² to drive business
development & revenue
27. Rule #2: Migrate to Subscription Pricing
26
The higher percentage of longer-term plans, the better: increased cashflow,
more predictable revenue, higher retention & lifetime value (LTV)
Transactional Monthly Subscription Annual Subscription
28. Month 12 Retention Rates: Monthly Subscription vs Annual Subscription Cohorts
Rule #2: Migrate to Subscription Pricing
27
Month 12 retention rates for annual subscribers hover ~50-60%+, which is
~3x higher than Month 12 retention rates for monthly subscribers
20%
15%
55%
50%
60%
45%
0%
10%
20%
30%
40%
50%
60%
70%
Company A Company B Company C Company D
Monthly Subscription Annual Subscription
+ 2.8x + 3.3x
30. 29
Battery CX Magic Number = Net Revenue / CX Cost Per Transaction
Battery CX Magic Number > 10x
Battery CX Magic Number <= 10x
31. Source: American Express, Forbes, HubSpot Research, Salesforce, Glance
Rule #3: Battery CX Magic Number – 10x ROI
30
The Importance of High-Quality
Customer Service
90% of Americans use customer
experience as a factor in deciding
whether or not to do business with a
company
The Power of Great Customer
Service
Customers are willing to spend 17%
more for a company with excellent
service
93% of customers are likely to make
repeat purchases with companies who
offer outstanding customer service
The Cost of Poor Customer
Service
57% of customers have stopped
buying from a company because one of
their competitors provided a better
experience
62% of customers say they share bad
experiences with other people
78% of customers have backed out of
a purchase due to a poor customer
experience
32. Note: Based on Battery Venture’s proprietary research of both public and private companies, both within the Battery portfolio and not.
Rule #3: Battery CX Magic Number – 10x ROI
31
A
B
A B
Company
A
Company
B
Company
C
Company
D
Company
E
Company
F
Company
G
Company
H
Industry Services Hospitality Fashion Mobility Mobility Hospitality Services Mobility
Net Revenue
Per
Transaction
$100 $30 $20 $2 $4 $12 $4 $6
CX Cost Per
Transaction
$3 $2 $3 <$1 <$1 $2 $2 $3
Battery CX
Magic Number 33.3x 15.0x 6.7x 6.7x 6.0x 6.0x 2.0x 2.0x
33. Source: Zendesk Survey, Coleman Parkes Research, Based on Battery Venture’s proprietary research.
Rule #3: Battery CX Magic Number – 10x ROI
32
Product-Led Growth
Company A
Battery CX Magic Number: 33.3x
Company G
Battery CX Magic Number: 2.0x
Comprehensive Knowledge Base / FAQ’s
67% of respondents preferred self-service vs speaking to a
support agent, while 91% of consumers would use an
online knowledge base if it were tailored to their needs
Providing an easily accessible and reliable knowledge base
will be sufficient for customers’ easier-to-answer questions,
while allowing agents to focus on tougher, more nuanced asks
Collaborative Community Forum Vetted by Moderators
Customers can engage with one another and company
representatives – ask & answer questions, search topics,
socialize, and get product updates
Mature chatbots can answer 50%+ of customer questions
Best in class CX can address 80-90% of customer
questions through automated, no touch self-service platforms
High Dependency on Customer Phone Support
For this particular company, 80% of their customer support
contacts are serviced via phone
This heavy reliance on phone support becomes time
consuming and less productive for agents. Agents must
spend more time on each interaction and phone calls limit the
number of customers they can help at once
Additionally, there’s significant cost associated with
maintaining a skilled team of live support, especially those
seeking 24/7 support
Human-Led Growth
34. Rule #3: Battery CX Magic Number – 10x ROI
33
Service Level Agreement (SLA) on Wait Time: Phone (<2 Min), Chat (<2 Min), Email (<4-8 Hours)
First Resolution Rate: 80-85%
Manager : Agent Ratio = 1 Manager: 12-15 Agents
Contacts Per Issue: 1.2 - 1.3
1
2
3
4
Contact Rate (Out of Every 100 Transactions): 15 - 30%
5
35. Battery Growth Magic Number > 0
Migrate to subscription pricing
Battery CX Magic Number – 10x ROI
34
Battery’s 3 Rules for an Efficient Marketplace
37. Source: Cap IQ Market Cap ($USD) as of Apr 27, 2020 | * Denotes a current or former Battery portfolio company. No assumption should
be made that the investments identified above were or will be profitable. For a complete list of portfolio companies, please click here.
We’re Just Getting Started …
EquityValue
$10B
$36B
1998 2008 2020
Time
$1.3T
*
*
*
36
38. *
*
*
Source: Cap IQ Market Cap ($USD) as of Apr 27, 2020 | * Denotes a current or former Battery portfolio company. No assumption should
be made that the investments identified above were or will be profitable. For a complete list of portfolio companies, please click here.
We’re Just Getting Started …
EquityValue
$10B
$36B
1998 2008 2020
Time
$1.3T
$6T
*
*
*
2025
37
Bird’s CEO and founder Travis VanderZanden acknowledged in the company’s funding announcement that the market had changed: “Gone are the days when top line growth was the leading KPI for emerging companies. Positive unit economics is the new goal line.” https://www.forbes.com/sites/bizcarson/2019/10/03/bird-raises-275-million-series-d-funding/#5e107605318e
Marketplace stocks took a turn in 2019 with the Uber & Lyft IPOs and exacerbated by the WeWork implosion. Burn was high and the market crushed many companies. This all takes place while the broader indexes are up 25%+ so on a relative basis, it was extraordinary poor performance.
Add current multiple?
FYI: The companies with higher Rule of 40 have either (1) negative EBITDA margin, and/or (2) negative LTM share price change. Chegg is the best option.
Add current multiple?
Include voiceover on annual plan vs monthly plan for Rule #2
Netflix’s hyper-focus on data makes marketing less subjective. Data is everything.
Spending efficiency = content development, reduces churn
Evidence of this is shown on this slide where the best performing companies spent the least amount on sales and marketing.
It is counter-intuitive because you would think that the more you spend, the faster you grow and the more you are worth
What is much more important is how you spend your sales/marketing budget and get the biggest bang for the buck
Evidence of this is shown on this slide where the best performing companies spent the least amount on sales and marketing.
It is counter-intuitive because you would think that the more you spend, the faster you grow and the more you are worth
What is much more important is how you spend your sales/marketing budget and get the biggest bang for the buck
Include voiceover on annual plan vs monthly plan for Rule #2