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Eurie Kim

Managing Partner, Forerunner Ventures · 2 appearances on the record.

computed by AI from the episodes · how this works → · full disclaimer →

investorfounderexecutiveLinkedIn ↗forerunnerventures.com ↗

Eurie Kim joined early-stage venture capital firm Forerunner Ventures in 2012, focusing on consumer health, e-commerce, and digital lifestyle businesses. She serves on the boards of companies including Oura, The Farmer's Dog, and Curology, and is a founding member of All Raise.

22statements → 10claims → 7claims resolved → 86%fully supported → 3.91/5average certainty → 2.05/5average debate potential → ≈4.5/5argument clarity, estimated → 2said about them ↓

6 supported 1 partly supported 0 contradicted 1 not yet assessed 2 not checkable as stated how the 10 claims stand · each chip opens the sources

1 prediction · 9 assertions · 8 insights · 4 disclosures · every statement was checked. The prediction and assertions are the 10 claims: statements the public record can support or contradict. 7 are resolved, 1 is not yet assessed, and 2 name no date, number or outcome precise enough to check. Everything else (opinions, insights, what ifs, disclosures) can never be settled by the record, so it carries no assessment.

The record, in short

What the tape says about how Eurie argues and how the claims held up. Everything they said, and everything said about them, is in the tabs below.

Their most notable supported claim

Assertion Supported
Eurie Kim: Average Enterprise SaaS M&A Multiple Since 2015 Was 3.5x-4x
“We actually recently came across some analysis that showed that all the enterprise SaaS M&A deals done since 2015, the average revenue multiple of those deals was three and a half to four X.”
Eurie Kim Jan 22, 2018 ▶ 5:35 20VC: Why Brands Can Have The Same Revenue Multiples As Enterprise Companies & The Right Way To Think About Amazon In Today's World of Commerce with Eurie Kim, General Partner @ Forerunner Ventures

Expressed certainty vs assessment result

none yet certainty 1
none yet certainty 2
100% certainty 3
90% certainty 4
none yet certainty 5

weighted support: a fully supported claim counts one, a partly supported claim counts half. Each filled bar is clickable and opens exactly those claims; "none yet" means nothing said at that certainty level has resolved yet

How they sound: speaking style how? →

265 words/min while actually speaking · 6.6 um and uh per 1k words · 6.2 false starts per 1k · 37.8% of pauses land inside a clause

No argument clarity score for Eurie Kim: only 2 usable question→answer exchanges on raw tape (a fair score needs 8+). We do not score a sample that small. Roundtable and news formats yield far fewer direct exchanges than interviews. Their coarse estimate from 26 exchanges across raw tape and the produced feed is ≈4.5/5, shown at half point precision because the sample is small and produced tape scores higher.

Measured by listening to the audio itself: 2,440 words across 1 episode of raw-level tape, transcribed verbatim with every um and uh kept, each one attributed only where the alignment onto our timed stream is unambiguous. These are measurements of speaking style. We do not rank them: across this corpus, fluency and argument quality are nearly uncorrelated (ρ≈0.2), and smooth talking does not signal clear thinking. How it's measured →

How the interview went all their pushback → series average →

Across 2 rated episodes:

host pushback ▾ 4/10
pushed back at the host ▾ 4/10
setup questions received 39%

Everything Eurie Kim said on 20VC that made the record, most notable first. Filter by type, assessment or year in the ledger →

Insight
Kim: Multi-stage funds write seed checks primarily to train junior partners
“And it's a, it's candidly, it's an effort for their earlier partners to get some experience because they're not going to be able to put growth in dollars to work because growth is harder. The traction needs to be higher. Now you're like, okay, well, why don't …”
Eurie Kim Nov 17, 2023 ▶ 11:36 Roundtable #6 with Rebecca Kaden, Nicole Quinn, Eurie Kim, Harry Stebbings | E1083 · 20VC with Harry Stebbings
Assertion Supported
Eurie Kim: Average Enterprise SaaS M&A Multiple Since 2015 Was 3.5x-4x
“We actually recently came across some analysis that showed that all the enterprise SaaS M&A deals done since 2015, the average revenue multiple of those deals was three and a half to four X.”
Eurie Kim Jan 22, 2018 ▶ 5:35 20VC: Why Brands Can Have The Same Revenue Multiples As Enterprise Companies & The Right Way To Think About Amazon In Today's World of Commerce with Eurie Kim, General Partner @ Forerunner Ventures
Insight
Kim: Smart founders accept lower seed valuations for dedicated investor support
“If you're a founder that understands what you're building and what type of people you want to partner with, then you do see that people are taking a lower price point valuation in the beginning with the understanding that they want help. They want the help tha…”
Eurie Kim Nov 17, 2023 ▶ 4:51 Roundtable #6 with Rebecca Kaden, Nicole Quinn, Eurie Kim, Harry Stebbings | E1083 · 20VC with Harry Stebbings
Insight
Kim: Long fund return lags obscure underperformance and shorten LP memory
“The lag is long. By the time you've had a bad fund, you might've had another good fund. You know, start to return. And so it all gets mixed in where, you know, the returns are happening from funds that are earlier than the bad ones that we have yet to see play…”
Eurie Kim Nov 17, 2023 ▶ 10:52 Roundtable #6 with Rebecca Kaden, Nicole Quinn, Eurie Kim, Harry Stebbings | E1083 · 20VC with Harry Stebbings
Assertion Supported
Kim: Average Series A valuations hit $35M in both 2021 and 2023
“Meeting last week or two weeks ago, and essentially a valuations are at 35, which was the same as 21. And now we all know about the spikes and the 20 on a hundred and all of that, but like as an average, it was 24 in 2020 thirty five million bucks and 21 forty…”
Eurie Kim Nov 17, 2023 ▶ 18:45 Roundtable #6 with Rebecca Kaden, Nicole Quinn, Eurie Kim, Harry Stebbings | E1083 · 20VC with Harry Stebbings
Insight
Kim: Underwater stock options trigger high employee turnover at startups
“You do see a lot of turnover on the employee side, because it's better to just start fresh With a new package than to try to hope that you can get out of, you know, the underwater.”
Eurie Kim Nov 17, 2023 ▶ 32:01 Roundtable #6 with Rebecca Kaden, Nicole Quinn, Eurie Kim, Harry Stebbings | E1083 · 20VC with Harry Stebbings
Insight
Eurie Kim: Top DTC Brands Achieve Product-Market Fit Within Two Years
“They actually reach clear product market fit, certainly with their consumers in terms of consumer love within their first year or two of business, you know, and it's typically really hard for a brand to start breaking out several years after being in business.”
Eurie Kim Jan 22, 2018 ▶ 17:26 20VC: Why Brands Can Have The Same Revenue Multiples As Enterprise Companies & The Right Way To Think About Amazon In Today's World of Commerce with Eurie Kim, General Partner @ Forerunner Ventures
Prediction Held up
Eurie Kim: Away Will Reach $50 Million Revenue in 22 Months
“I think if you think established is getting to fifty million dollars of revenue, I would say Away is going to do it in 22 months.”
Eurie Kim Jan 22, 2018 ▶ 18:25 20VC: Why Brands Can Have The Same Revenue Multiples As Enterprise Companies & The Right Way To Think About Amazon In Today's World of Commerce with Eurie Kim, General Partner @ Forerunner Ventures
Assertion Supported
Eurie Kim: Amazon is likely surpassing Macy's in US apparel sales
“They're probably surpassing Macy's now for number of dollars sold for apparel in the U.S.”
Eurie Kim Jan 22, 2018 ▶ 22:11 20VC: Why Brands Can Have The Same Revenue Multiples As Enterprise Companies & The Right Way To Think About Amazon In Today's World of Commerce with Eurie Kim, General Partner @ Forerunner Ventures
Assertion Partly supported
Kim: Average Series D valuations fell from $740M in 2021 to $340M
“So you aren't seeing the drop that you are in the series D, which kind of ballooned to Seven hundred, forty million in 20, 21, and now it's back down to 340.”
Eurie Kim Nov 17, 2023 ▶ 19:07 Roundtable #6 with Rebecca Kaden, Nicole Quinn, Eurie Kim, Harry Stebbings | E1083 · 20VC with Harry Stebbings
Assertion Open
Kim: Average seed valuations hovered around $10M to $11M recently
“We were joking just before we started that, you know, I had a two on seven back in the day that, you know, I'm still working with now and is doing really well, but we're talking to 10 and 11 of the last two years as your average seed price.”
Eurie Kim Nov 17, 2023 ▶ 19:21 Roundtable #6 with Rebecca Kaden, Nicole Quinn, Eurie Kim, Harry Stebbings | E1083 · 20VC with Harry Stebbings
Insight
Kim: AI drastically lowers costs for previously impractical consumer applications
“AI is something that can actually change consumers' lives. Things that could not be delivered because it took too many human hours, that was too expensive, are now conceivably being delivered for fractions of the cost.”
Eurie Kim Nov 17, 2023 ▶ 23:35 Roundtable #6 with Rebecca Kaden, Nicole Quinn, Eurie Kim, Harry Stebbings | E1083 · 20VC with Harry Stebbings
Assertion Not checkable as stated
Kim: Startup M&A multiples are capped at 1x revenue at best
“And whatever the sell might be, the market multiple and the clearing price is going to be based on public comps. And so you're down to a very paltry one X at best for a lot of assets.”
Eurie Kim Nov 17, 2023 ▶ 35:04 Roundtable #6 with Rebecca Kaden, Nicole Quinn, Eurie Kim, Harry Stebbings | E1083 · 20VC with Harry Stebbings
Disclosure
Kim: Forerunner Ventures invested in an auto body shop chain
“My partner invested in one that's a, it's an auto body shop, a chain of auto body shops. And you're like, how is that venture? Well, it's venture because a lot of the technology that goes into powering that can then start to create a digitally native franchise…”
Eurie Kim Nov 17, 2023 ▶ 39:31 Roundtable #6 with Rebecca Kaden, Nicole Quinn, Eurie Kim, Harry Stebbings | E1083 · 20VC with Harry Stebbings
Assertion Supported
Eurie Kim: Consumer E-Commerce Acquisitions Fetch 4x to 7x Revenue Multiples
“Dollar Shave Club being acquired by Unilever for five X revenue and Shoei's acquisition of by PetSmart, which are four X and even more traditional commerce deals that you see, which are as high as six or seven X for some beauty deals that L'Oreal and Unilever …”
Eurie Kim Jan 22, 2018 ▶ 5:54 20VC: Why Brands Can Have The Same Revenue Multiples As Enterprise Companies & The Right Way To Think About Amazon In Today's World of Commerce with Eurie Kim, General Partner @ Forerunner Ventures
Assertion Not checkable as stated
Eurie Kim: A $100M venture fund needs a 3x-5x return to be top-tier
“If you have a hundred million dollar fund, you still need to make three, four or five X on that to be a top tier firm.”
Eurie Kim Jan 22, 2018 ▶ 8:05 20VC: Why Brands Can Have The Same Revenue Multiples As Enterprise Companies & The Right Way To Think About Amazon In Today's World of Commerce with Eurie Kim, General Partner @ Forerunner Ventures
Disclosure
Eurie Kim: Forerunner Ventures targets around 20 deals per fund
“Hey, we're only doing 20 deals in each portfolio. Each of these deals needs to make a difference if there's an outcome.”
Eurie Kim Jan 22, 2018 ▶ 8:14 20VC: Why Brands Can Have The Same Revenue Multiples As Enterprise Companies & The Right Way To Think About Amazon In Today's World of Commerce with Eurie Kim, General Partner @ Forerunner Ventures
Insight
Eurie Kim: Early-stage brands cannot survive without high gross margins
“Certain categories have structurally higher margins than others. Beauty is obviously one of them. And by vertically integrating their earlier stage teams have the ability to start investing in their businesses and marketing and customer service. Because they h…”
Eurie Kim Jan 22, 2018 ▶ 15:24 20VC: Why Brands Can Have The Same Revenue Multiples As Enterprise Companies & The Right Way To Think About Amazon In Today's World of Commerce with Eurie Kim, General Partner @ Forerunner Ventures
Assertion Supported
Eurie Kim: Allbirds Generated $1 Million in Its First Month
“Allbirds, which is not in our portfolio, but another really fast-growing brand, I think they did a million dollars in their first month of business.”
Eurie Kim Jan 22, 2018 ▶ 18:35 20VC: Why Brands Can Have The Same Revenue Multiples As Enterprise Companies & The Right Way To Think About Amazon In Today's World of Commerce with Eurie Kim, General Partner @ Forerunner Ventures
Insight
Eurie Kim: Voice commerce commoditizes unbranded products, increasing DTC brand value
“Voice is a new platform and many products are going to run the risk of getting commoditized. So when you say, Alexa, I want toilet paper, does it care what brand of toilet paper you get? You know, probably not. It's probably a circumstance where you're just go…”
Eurie Kim Jan 22, 2018 ▶ 25:22 20VC: Why Brands Can Have The Same Revenue Multiples As Enterprise Companies & The Right Way To Think About Amazon In Today's World of Commerce with Eurie Kim, General Partner @ Forerunner Ventures
Disclosure
Forerunner Ventures invests in livestream shopping startup ShopShops
“We just wired an investment yesterday, which is called Shop Shops, and this team is leveraging that live streaming video technology that I mentioned before, and they're bridging online customers to offline shopping experiences.”
Eurie Kim Jan 22, 2018 ▶ 27:06 20VC: Why Brands Can Have The Same Revenue Multiples As Enterprise Companies & The Right Way To Think About Amazon In Today's World of Commerce with Eurie Kim, General Partner @ Forerunner Ventures
Disclosure
Eurie Kim: Forerunner allocates 60% to 65% of fund capital to reserves
“Yeah, so as a guideline, you know, we, we're similar to many of the other firms out there where we're earmarking reserves at about a two-to-one rate, so our initial investment is sort of 30% of our total dollars, and then 60% saved for reserves, or 35, 65.”
Eurie Kim Jan 22, 2018 ▶ 9:19 20VC: Why Brands Can Have The Same Revenue Multiples As Enterprise Companies & The Right Way To Think About Amazon In Today's World of Commerce with Eurie Kim, General Partner @ Forerunner Ventures

The other half of the tape: Eurie Kim's own voice is left out of every number here. Other people bring the name up 2 times in 2 episodes on 20VC. every mention, with the transcript →

Who brings them up most Kirsten Green 1Harry Stebbings 1

Every mention by year

tap a year for its mentions
00111120182019202020212022episodesmentions
01120182019202020212022episodes it came up in
000.50.51120182019202020212022episodesmentions per episode
2022 1 mention in 1 episode
2018 1 mention in 1 episode

Appearances (2)

EpisodeDateSpeaking time
Roundtable #6 with Rebecca Kaden, Nicole Quinn, Eurie Kim, Harry Stebbings | E1083 · 20VC Nov 17, 2023 10m
20VC: Why Brands Can Have The Same Revenue Multiples As Enterprise Companies & The Right W Jan 22, 2018 19m
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