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Office Hours with Lee Kirkpatrick, former Twilio CFO on Managing through Turbulence

Tom Tunguz

During the dotcom crash in 2001, the Global Financial Crisis of 2008, and the SaaS corrections in 2014, 2016, and 2018, Lee was either COO/CFO or CFO at Twilio, SAY Media, and Ofoto. Lee Kirkpatrick is no stranger to downturns. On Tuesday, June 21st at 10am Pacific time, Office Hours will welcome Lee Kirkpatrick to learn from his experience.

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Bezos' Shareholder Letter in 2000

Tom Tunguz

Startups feel this way today. We’re a company that wants to be weighed, and over time, we will be—over the long term, all companies are. In the meantime, we have our heads down working to build a heavier and heavier company. Company performance exceeds employee expectations, yet the market values the company less than two quarters ago.

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What Percentage of Revenue Should SaaS Startups Spend on Payroll?

Tom Tunguz

In 2001, Salesforce spent $35.6M The lesser the OER, the more technology leverage the startup can exacts. At the Series A, a venture-backed SaaS startup in the Bay Area with $1M in revenue is likely employing somewhere around 20-40 people, and spending $3-4M per year on salaries, implying an OER of 3 to 4. in revenue.

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The Coming Wave of Venture Capital and What It Means for Your Startup

Tom Tunguz

If this pace of fund raising continues, 2014 would mark the biggest year for VCs since 2001, when the industry raised about $38B. This new money hasn’t yet hit the startup fundraising market in earnest, as the chart above shows. Which startup sectors should expect to benefit from this surfeit of capital?

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18 investors fueling Latin America’s SaaS superstars

SaaStock

Starting from 2001 with the establishment of DGF Investimentos, there has been a steady addition to the roster of funds, with key periods where a few were started around the same time. Canary invests in Brazilian startups, aiming to transform the country’s startup ecosystem by filling an early stage funding gap that it has identified.

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A SaaS History Lesson – The First SaaS Company's Exceptional Journey

Tom Tunguz

The first SaaS startup started as a packaged software company. But soon after the crash of 2001, the startup’s market cap totaled only $8M. Then Concur quickly grew to about $41M over the next five years, before the transition to selling SaaS in 2001. The company went public on this model in 1998.

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Is Now a Good Time to Start a Company?

Tom Tunguz

The fundraising markets have infused more cash into startups in 2015 than in any year since 2001. Only people in love with an idea or with startups would take startup risk as Lehman imploded. You may not yet have developed your network of people passionate and skilled in your startup’s area.

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