IPO

“I think the IPO is a really important milestone, and sometimes in Silicon Valley, We treat it more like an exit, but it's only an exit for your private investors. It's a really important milestone for the company”

“I think we're up to about six hundred million dollars have been created in value, set aside with the equity created from the IPOs of this year alone.”

“There's so much more value that gets created after the IPO. And it's, to Jen's point, it's always thought of as this end destination, this exit event, but gosh, once you start compounding revenue numbers North of a hundred million in ARR at 3040, 50% year ove…”

“We know based on publicly available data that that at IPO, that the average sort of SaaS company at IPO has about a thousand employees and about a hundred million of ARR. So that ends up being about a 100,000 dollars of ARR per employee, and we can kind of wor…”

“Try and purge from everybody at your company's vocabulary the phrase exit, or the word exit. It's not an exit. It's the starting point. There might be some people who aren't in your company, some investors who need a liquidity event, or they need to leave. The…”

“You know, it takes on average 13 years to build a public company. I guess it was 11 years for the twenty-twenty-one cohort. It was only 11.”

“Somehow in seven to 10 years, you've got to get to a hundred plus million in revenue. Okay, you just have to, and really today it probably has to be closer to two hundred million because that's when you can really IPO, right, approaching two hundred million.”

“The only folks that are going to IPO for now in the next 12 to 15 months in SaaS are, A handful of folks will be forced to IPO, and they may have, and they may barely pull it off and have really crappy IPOs, or they'll be profitable or very efficient companies…”

“You cannot make money in venture if at least per fund you don't have a couple billion dollar outcomes. There's a few exceptions, but as a rough rule, not, let's say you do 30 investments in your venture fund. Not all 30 have to IPO, but if a couple don't, or a…”

“Don't raise venture capital, or at least let me qualify it with an asterisk and a dagger. Don't raise more than five to ten million. Don't go to the double digits if you don't want IPO.”

“On average, we find the sales leader that is there at time of IPO has been there for more or less three years prior to that, just to have the time to build out the maturity and sophistication in that revenue repeatability.”

“In general, we find that most companies have somewhere between two and three sales leaders between founding and actually going public”

“Viva only raised eight million dollars in capital before its IPO.”

“VCs still need triple, triple, double to make money. They need you to triple and triple after one million in revenue and double. It's okay if there's bumps, but that's what it needs to be to IPO in less than a decade.”

“Service Titan should be one of the best SMB vertical SaaS. IPOs in the next 12 months. They are approaching a billion in ARR.”

“You can't, even if you build the products in a year, it takes so long for that revenue to get material, doesn't it? Two, three years. So if you start now at a hundred million or two hundred million in revenue to try to go to IPO, you're fracked.”

“Boston, the IPO is the finish line. It's so come Valley. It's the starting line.”

“I did this analysis a little while ago that of the SaaS companies that IPO, 90% of a founder CEO.”

“It takes at least a year before you even say you want to go IPO if you can to do it.”

“The IPO bar today is 50% growth at five hundred million, okay? Now that's not a billion dollar IPO, that's a much bigger IPO.”

“And there's almost a thousand of these unicorns from 20, 21 waiting to possibly never go public.”

“We're entering an era of just Utter wealth creation from IPOs like we have never seen. Like it's just, we're underestimating, you know, I used to be a billion, you know, Billy, a unicorn used to be great.”