On May 26th, I attended the C2 conference in Montreal, joining my good friend Harley Finkelstein…
Entrepreneurship
Blue Apron went public today. It was not the easiest road for them as they had to cut the originally proposed price range of $15-17 to $10 and closed the first day just around that at $10.01. As one can imagine, the media commentary was not pretty, calling the IPO a disappointment, the stock stale out […]
On May 26th, I attended the C2 conference in Montreal, joining my good friend Harley Finkelstein…
I recently gave a talk on lean financing and thought I would share the presentation…
Blue Apron went public today. It was not the easiest road for them as they had to cut the originally proposed price range of $15-17 to $10 and closed the first day just around that at $10.01. As one can imagine, the media commentary was not pretty, calling the IPO a disappointment, the stock stale out of the box, and lamenting that the stock forgot to pop.
What I missed in most of this commentary was the fact that Matt Salzberg and his team had created a company with over $800m in revenues and a $2b valuation in a short 5 (!) years. This is an incredible entrepreneurial achievement that very, very few founders ever get to. Zulily suffered from a similar negative narrative: when it got sold to QVC for $2.4b, some people called the exit disappointing given that the company was once valued at over $7b in the public markets.
You don’t have to love the product, you don’t have to like the business model, and you definitely don’t have to buy the stock – but I hope that you appreciate the incredible entrepreneurial achievement in your analysis of a company that just went public and perhaps mention it in a phrase or two.
Portfolio
It’s hard to believe we’re already three quarters into the year. At V1, we’re all about finishing strong, and Q3 gave us plenty of reasons to be excited about what’s ahead. As always, we’ve rounded up a quick snapshot of the action across our portfolio from the past quarter: Funding announcements We welcomed TRIC Robotics […]
The V1 family kicked off the new year with fresh energy and no shortage of…
Fall is in the air and we are heading into the last quarter of 2023.…