Upfront portfolio company traded 40% contract discount for one-year extension
Mark Suster · 20VC: Upfront's Mark Suster on COVID Redefining What A Great Company Looks Like and What Valuations Look Like, Why Pay-To-Play Is Back On The Table & Why We Will See The Death of Party Rounds · Apr 20, 2020 · at 7:55
Mark Suster, Managing Partner at Upfront Ventures, details how one of his portfolio companies navigated customer price renegotiations during the early COVID-19 economic downturn.
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“One of the things I was involved in helping guide one of the portfolio companies of which I'm involved through their single largest customer renegotiating their entire contract. And what we were able to do, sadly, you know, we cut, I don't know, 40% off the annual contract, which is a very hard thing to do with your largest Account. What we got was a one year extension.”
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