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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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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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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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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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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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OneNote vs. Evernote: A personal take on two great note-taking apps

IT World

Launched in 2003, OneNote was added to the Microsoft Office suite (most versions of which are now called Microsoft 365) in 2007. What’s the king of the note-taking apps? There are two leading contenders for the crown: Microsoft’s OneNote and the independent Evernote.

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Will Bing and Edge become the center of the Microsoft universe?

IT World

That’s a far cry from 2003, when Internet Explorer had a 95% market share. In search, Google has a stranglehold with 85% of the worldwide search market share in the first quarter of 2023, compared to 9% for Bing. In browsing, Edge fares even worse: it accounts for a 5% market share compared to 64% for Chrome and 20% for Safari.