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The key business metrics from 8 SaaS startup pitch decks

In 2014 when Mixpanel’s co-founder, Suhail Doshi, made the bold move of open-sourcing the pitch deck that led to his company’s $65M round and $865M valuation, he also shared the link to his post on Reddit. Among the many comments, this one stood out to me: “There’s nothing special about the pitch deck. The special […]


The Two Types of Product Virality

Whenever presenting or teaching about growth I discuss “product virality” as I believe it’s one of the best ways for products to increase awareness and acquire new users. It’s free and it scales. I define product virality as user flows and features within a product that naturally lead to existing users spreading awareness of the […]


Market Caps & The 2% Rule

One way to assess whether a startup idea is in a good market is to ask what are the market capitalizations of the biggest companies in that sector. For example in consumer internet, Google ($560 billion) and Facebook ($370 billion), and in enterprise software Microsoft ($460 billion), and Oracle, ($167 billion) are all large, high margin businesses. Market caps […]


Network Effects – The Keys to Ascending the Consumer-Internet Throne

“Category kings”, defined as market-share leaders in particular business sectors, often wind up creating the majority of the market value relative to their competition. This advantage is particularly pronounced in technology: According to some research, over 70% of the value created in technology markets is actually generated by the category’s king (think in retail, […]


Meaningful VC Exits

The purpose of this post is, with the help of some venture math and a bunch of frequently made assumptions, to derive the size in term of revenues that a company has to achieve in a 5–7 years time window to be regarded as attractive for VC investment. We will do that for different fund […]


Primum non nocere

Más allá del propio capital, tengo muy claro que el valor que los inversores aportamos a las startups es limitado. Pero más claro aún tengo que un mal inversor puede restar mucho valor a una compañía. Achtung baby! Por ello me gusta mucho la expresión “primum non nocere” (“lo primero es no hacer daño”), una […]


La “sopa de letras” del Venture Capital

Los que estamos ligados al mundo de la financiación de startups hablamos a diario de rondas seed (semilla), pre-seed, Series A, Series B, (C, D, E, F,…), early-stage, late-stage, growth, etc. ¿Y sabéis qué? Ni nosotros mismos tenemos muy claro a lo que nos referimos con estos términos. No hay consenso. Uf, ni me quiero […]


Nuestra inversión en Waynabox

Es un placer para nosotros anunciar que acabamos de liderar una ronda de financiación de 1,2 millones de euros en Waynabox, una startup basada en Barcelona con un modelo de negocio muy innovador en el sector travel. Nos acompañan Bankinter, Media Digital Ventures y los grupos Palladium y Marjal, además de la mayoría de los […]

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