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Three Mega IPOs That Took A Long, Long Time To Get Big: Squarespace, Procore and UiPath

SaaStr

Procore didn’t really begin to take off until 2012: Squarespace was founded way back in 2003 in the CEO’s dorm room, and for years revenue was nominal. But took a full decade for mobile to get mature enough to make construction software really work, because it had to work in the field.

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Why Do Some People Consider Venture Capital a “Young Person’s Game”?

SaaStr

Procore was founded in 2003. Finally close own fund in 2003, after 12 months. Invest in seed round of Procore in 2003. Let’s take a fun example of a simply awesome SaaS company that will IPO soon, doing hundreds of millions in ARR — Procore. Imagine you were a seed VC: Started as an angel, in say 2000. Say 5% of $3,000,000,000.

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Bezos' Shareholder Letter in 2000

Tom Tunguz

Just as important, though, Amazon managed their finances well. Net Income, $m. Cash & ST Equivalents, $m. Before the dotcom crash, Amazon grew at 68% and lost -$1.4b in net income.

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Doubling Down: Satya Patel, Partner at Homebrew

SaaStr

Satya joined Google in 2003 and was responsible for AdSense product management and partnerships. Prior to Homebrew, Satya was VP Product at Twitter, building and leading the Product Management and User Services teams. Before Twitter, he was a Partner at Battery Ventures, where he co-led the seed and early stage investing practices.

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A $30B Software Company from a $15m Investment

Tom Tunguz

From 2003 to 2014, Constellation’s revenues compounded from $80m to more than $5b, an average of 25% annually. A former venture capitalist, Mark Leonard started Constellation in 1995 with $15m of outside investment & a goal of buying vertical software companies with a moat & good unit economics.

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10 Rules to Being a VP of Sales in a Startup

SaaStr

I started my career as a tech recruiter, working exclusively with venture backed startups from 2000-2003. It’s going to end in a firesale, an asset sale, or some kind of sale where nobody makes any money. It was a great training ground to learn how to handicap a startups chances for success or failure.

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That Will Never Work

Tom Tunguz

Marc founded the business and served as its first CEO until Reed Hastings took the helm in 2003. Marc has helped many companies get off the ground, but the most famous is Netflix. In [That Will Never Work](), Marc recounts the early days of the $130B market cap company first started in Santa Cruz and it’s a remarkable story.

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