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M&A over IPO in Digital Health

Why M&A over IPO in Digital Health

2018 was a record year for startup exits. Whether M&A or IPO, exits in 2018 exceeded $120B, for the first time since 2012. For the top unicorns, the count of IPOs more than doubled the count of M&As. In digital health, however, one hundred and...

Josh Kopelman's investor perspective

Investor Perspective: Josh Kopelman (First Round)

It's been a while since we last discussed lessons learned from top venture investors. Today, we'll dive into First Round Partner Josh Kopelman's investor perspective on all things early-stage startups, discussed on the Dorm Room Tycoon Podcast with William Channer. Kopelman started off as a...

Deal Execution and Term Sheets

Week 5 of VC School: Deal Execution and Term Sheets

“Week 5 of VC School: Deal Execution and Term Sheets” is part of a ten-week series from the interns at Bowery Capital. The series will cover lessons learned and concepts covered during the weekly “VC School” meeting, a program taught by the Bowery Capital team...

Keeping Product and Sales Aligned: Customer Engagement

Keeping Product and Sales Aligned: Customer Engagement

Two of the core pillars of all B2B SaaS startups are their product and sales teams. Therefore, these teams must be well-aligned and cohesive. Product teams tend to be largely inward-looking while sales teams are, by nature, customer-focused. This disconnect may be exacerbated, in part,...

navigating the new landscape of Seed rounds

Navigating the New Landscape of Seed Rounds

The landscape for raising a Seed round has changed considerably over the past few years. Due to a shift towards later IPOs for tech startups, more and more public-market capital has been invested in late-stage venture rounds. As a result, mega-rounds (>$100mm) now account for...

Quantitative Due Diligence

Week 4 of VC School: Quantitative Due Diligence

“Week 4 of VC School: Quantitative Due Diligence” is part of a ten-week series from the interns at Bowery Capital. The series will cover lessons learned and concepts covered during the weekly “VC School” meeting, a program taught by the Bowery Capital team designed to...

Post-Raise Equity Calculation

Post-Raise Equity Calculator Walk-Through

Calculating equity dilution can get complicated, leaving some founders wondering how much of the company they will really own after the fund raise is all said and done. In this post, we've broken down the dilution calculation into a straightforward spreadsheet, such that any founder...

Breaking into Healthcare SaaS

Breaking into Healthcare SaaS: Top Considerations

Adoption of technology in healthcare has historically been slow. Appetite for SaaS uptake in healthcare, however, has started to accelerate in the last 2-3 years. Healthcare processes have become archaic and outdated, with physicians and healthcare professionals still recording patient data on physically, on paper....

Week 3 of VC School: Qualitative Due Diligence

"Week 3 of VC School: Qualitative Due Diligence" is part of a ten-week series from the interns at Bowery Capital. The series will cover lessons learned and concepts covered during the weekly "VC School" meeting, a program taught by the Bowery Capital team designed to...

Venture Capital Deal Sourcing

Week 2 of VC School: Venture Capital Deal Sourcing

"Week 2 of VC School: Venture Capital Deal Sourcing" is part of a ten-week series from the interns at Bowery Capital. The series will cover lessons learned and concepts covered during the weekly "VC School" meeting, a program taught by the Bowery Capital team designed...

Keeping Product and Sales Aligned: Bridging the Gap

Keeping Product and Sales Aligned: Bridging the Gap

Two of the core pillars of all B2B SaaS startups are their product and sales teams. Intuitively, this makes sense. You build a great service, and then you sell it. What is less intuitive but equally critical, however, is team messaging and bridging the gap...

SaaS Opportunities in the Cannabis Vertical

SaaS Opportunities in the Cannabis Vertical

We first made note of the opportunity for software to bring structure and efficiency to the cannabis vertical in our Opportunities in Vertical Software v2.0. In our third edition, we focused on cannabis as a high growth market with many opportunities. While the US market...

Venture Capital Deal Sourcing

Week 1 of VC School: Introduction to Venture Capital

"Week 1 of VC School: Introduction to Venture Capital" is part of a ten-week series from the interns at Bowery Capital. The series will cover lessons learned and concepts covered during the weekly "VC School" meeting, a program taught by the Bowery Capital team designed...

Take a look at Electron

Take a Look at Electron for Your Next Application

Electron is an open-sourced framework that utilizes Chromium, the rendering engine behind Google Chrome, to allow developers to create desktop applications with web development tools/construct such as HTML, CSS, and JavaScript. In contrast to a standard framework such as .NET, which is limited primarily to...

Integrating AI with Remote Working

Integrating AI with Remote Working Software

Supported by increased software capabilities, rising costs in major tech hubs such as NYC and SF and a re-thinking of what a work-life balance should look like, "the office" as we know it is shifting quickly. Whether it be established companies integrating remote working options...

Software Innovations for Restaurant Delivery

Software Innovations for Restaurant Delivery

Food delivery has gone from being a luxury for affluent diners to being a ubiquitous part of the restaurant industry.  The influx in venture capital investments in the food delivery space has shown the industry is large and growing. To succeed restaurants will need to...

best software books aspiring vcs

The 10 Best Software Books For Aspiring VCs

We frequently get asked throughout our due diligence process as well as our interview process for fall, spring, and summer interns what are the great books to read to understand the technology ecosystem, the B2B world, and the foundations of business software. Understanding where the...

Opportunities In Vertical Software

Vertical Software Maturing Within The B2B Landscape

Since 2016, we at Bowery Capital have spent a fair amount of time focused on the impact of business software on a variety of verticals. We chose 10 verticals for our inaugural piece, titled Opportunities In Vertical Software and went deep into understanding what it...

Vinod Khosla’s Lessons For Entrepreneurs

  As the new class of Bowery Capital interns began, we took time to listen to Vinod Khosla give his top lessons for entrepreneurs on Y Combinator’s podcast.  Before we dive in, a little more about Vinod.  He is the founder of Khosla Ventures, a firm...

enterprise ai

Enterprise AI: Why It Matters & What Will Drive Adoption

Artificial intelligence (AI) is not a novel concept, instead, gaining prominent attention over several decades across the likes of academia, literature, and television. Famously, in his book 1984 (published in 1949), George Orwell vividly predicted a not-so-distant future that featured advanced machine learning phenomena such...

Keith Rabois’ Three Key Questions for Investors to Consider

This week the Bowery Capital team spent time discussing some key venture capital themes captured in Keith Rabois' podcast with Invest Like The Best [Ep. 115], covering topics from his investment criterion to critiques of business strategies that have been popularized like the Lean Startup. Like...

3 Lessons From Mike Maples For Aspiring VCs

After taking a look at Vinod Khosla's Lessons for Entrepreneurs, we pivoted this week to another giant in the industry with the top 3 VC lessons from Mike Maples. Mike had a great interview with the Origins podcast last year, centered around his transition from...

Vinod Khosla’s Lessons For Entrepreneurs

  As the new class of Bowery Capital interns began, we took time to listen to Vinod Khosla give his top lessons for entrepreneurs on Y Combinator’s podcast.  Before we dive in, a little more about Vinod.  He is the founder of Khosla Ventures, a firm...

Marketing Technology Predictions For 2019

At Bowery Capital, we spend a lot of time thinking about the marketing technology ecosystem and what the future holds for the space. With investments like MOAT, mParticle, and ActionIQ we are continuing to invest in and around this market. As we start 2019, we...

book review of Under The Radar

Sunday B2B Book Review: Under The Radar by Robert Young

This Sunday we bring you a book review of Under The Radar by Robert Young. Written by the Founder & CEO of Red Hat, Robert Young chronicles the dramatic rise of the open-source movement and the emergence of Linux. If you don't know anything about Red Hat or the...

The Four Waves Of AI

As many folks who read our blog are well aware, we have been interested and invested in companies focused on AI for some time now. We write about the topic a fair amount and earlier this year covered some thinking about policy implications as AI...

Sunday B2B Book Review: Hit Refresh by Satya Nadella

Another Sunday here at Bowery Capital means another book review. This week we feature a book review of Hit Refresh by Satya Nadella. Nadella is a household name to everyone who reads our blog and likely needs no introduction. He became the third CEO of Microsoft...

Book Review Of Subscribed

Sunday B2B Book Review: Subscribed by Tien Tzuo

This Sunday we feature a book review of Subscribed. Author Tien Tzuo is widely recognized as one of the thought leaders in the SaaS, founding Zuora in 2007. He built the business into a public company with 1,000+ customers, 1,000+ employees, and $100MM+ in revenue. Before Zuora,...

non-competes

Thinking About Non-Competes For Companies

For those that have been in the trenches of the talent wars going on in the technology ecosystem here in NYC we were encouraged to hear recently about the fact that WeWork had settled with the AG on their recent non-compete issues. As a result...

Quick Thoughts on Twilio Acquiring SendGrid

Quick Thoughts on Twilio Acquiring SendGrid

Twilio announced that it will be acquiring SendGrid, the world's first cloud-based email delivery platform, for $2B in an all-stock transaction. SendGrid has around 75,000 customers who use the platform to send roughly 45B emails per month, even handling APIs for companies like Uber and...

book review of behind the cloud

Sunday B2B Book Review: Behind The Cloud by Marc Benioff

We continue this Sunday with our book reviews from great business software leaders. This week, we give you a book review of Behind The Cloud by Marc Benioff. The book, published in 2009, is a compilation of Benioff's personal account on how he started Salesforce, the...

Sunday B2B Book Review: Winners Dream by Bill McDermott

We continue to find insight, history, and new approaches to B2B when reading books from best in class companies and their executives or founders. Learning from the experts in the areas that are core to our investment strategy is a great way to enhance critical...

strategic planning

Strategic Planning For Early Stage Companies

As we enter the final quarter of the year one thing that starts to get on a founders mind is strategic planning for the upcoming year. You want to maintain your focus as an entrepreneur on what matters most. You want to keep your board...

Thoughts On Adobe Acquiring Marketo

Quick Thoughts On Adobe Acquiring Marketo

Adobe announced yesterday it entered into a definitive agreement to acquire Marketo, the market-leading cloud platform for B2B marketing engagement, for $4.75B. The company has around 5,000 customers and will become a key part of the overall Experience Cloud that Adobe sells to marketers. A...

Future Of Professional Services In SaaS

The Future Of Professional Services In SaaS

A lot has been written about the future of professional services in SaaS and in particular how this component of a software business continues to change. Tomasz Tunguz recently wrote a fascinating piece about how the economics of professional software have changed in the SaaS...

Bridging The Gender Gap In Venture Capital

Bridging The Gender Gap In Venture Capital

In April, we announced our participation in Project #MovingForward, an open-source directory that pools diversity, inclusion, and anti-harassment commitments from VCs. As part of our ongoing interest in the initiative, Bowery Capital releases an annual gender study, designed to measure and track gender diversity (or...

Zero-Rating Opportunities in B2B SaaS

Zero-Rating Opportunities In B2B SaaS

We recently discussed net neutrality's impact on innovation and AT&T’s acquisition of AppNexus. Today we are going to examine zero-rating opportunities in B2B SaaS. Zero-rating allows a user of an app to freely use the content without it counting towards their data cap. For example,...

AT&T's Acquisition of AppNexus: What It Means For Media

AT&T’s Acquisition Of AppNexus: What It Means For Media

While AT&T's recent acquisition of Time Warner was considered the latest blockbuster M&A deal of 2018, the company's expansion into new verticals continues. AT&T's acquisition of AppNexus, a digital advertising exchange, puts the longstanding telecommunications incumbent in competition with the likes of Facebook and Google,...

What To Make Of Increasing Startup Valuations

What To Make Of Increasing Startup Valuations

If you’re deep in the trenches of the startup space like we are, you’ve probably already read - or at least heard about - Fred Wilson’s recent post, The Valuation Obsession, which touches on an important question facing investors and entrepreneurs alike: what do higher...

Proving Content Marketing ROI

Effectively Proving Content Marketing ROI

Proving content marketing ROI (return on investment) has become increasingly important in recent years, especially as it becomes clearer how effective content marketing can be when compared to traditional marketing. It’s been shown that content marketing costs 62% less than traditional marketing, yet it generates...

Recent Workday Acquisitions

Our Thoughts On The Recent Workday Acquisitions

Chalk another one up for M&A. Early last week Workday, the company that offers HR and other back-office apps for businesses, acquired Adaptive Insights, a provider of business planning and financial modelling tools, to the tune of $1.55B. Adaptive Insights has filed for their IPO on May...

Ideas For Startups Selling To Hospitals

Ideas For Startups Selling To Hospitals

While the enterprise sales process is challenging regardless of industry, these challenges are all the more difficult when it comes to healthcare, which is why we’re outlining a few ideas for startups selling to hospitals. Firstly, why is healthcare particularly challenging to sell into? Perhaps most...

The Unraveling Of Net Neutrality

Unraveling Of Net Neutrality: The Impact On Innovation

You’ve probably heard the term on NPR or read about it on Twitter: net neutrality, the principle that internet services providers (think: Verizon, Comcast, AT&T), or ISPs, should treat access to all content and applications the same despite owner or user. Well, last week marked...

AI Supremacy

Key Takeaways In The Fight For AI Supremacy

The Bowery Capital blog has been filled with discussions that examined the shifting pawns on the chessboard that is the fight for AI supremacy. As a principal investor in the machine learning and artificial intelligence (AI) ecosystems, we are always keeping a close eye to...

Novel Framework For US AI Policy

Our Novel Framework For US AI Policy

Artificial intelligence has been a prominent feature on the Bowery Capital blog. We have covered the major nations public stance on AI and dove into the US public policy on AI. Rather than provide more highlights of countries' AI plans, we thought it best to provide...

Federal Cannabis Legislation

Federal Cannabis Legislation To Keep An Eye On

In April of 2017, Bowery Capital did a deep dive on cannabis software, in which we analyzed the cannabis software history, market themes, and investors. This post was a piece of a larger topic that focused on opportunities for software in different verticals. Since then there...

India's New AI Strategy

Reflections From India’s New AI Strategy

Press releases on different countries' AI strategies are beginning to feel like a weekly occurrence. This week it is India who has released their "National Strategy for AI".  We have written a collection of blog posts in the past months that cover AI Nationalism, AI...

US Policy within AI Nationalism

US Policy Within AI Nationalism

Fear and competition with the Soviet Union spurred a wave of US investment in science and technology in the 1960's. In recent years the US stance on addressing new technologies has changed. As I have highlighted in my ongoing discussion on AI Nationalism, the US policy...

impacts of AI nationalism on semiconductors

Impacts Of AI Nationalism On Semiconductors

Building off of my ongoing discussion on the implications of AI Nationalism, one important topic is the relationship between AI Nationalism and a new concept which can loosely be defined as semiconductor isolationism or semiconductor nationalism. The impacts of AI nationalism on semiconductors is something...

AI policy

AI Policy Frameworks We Are Seeing Today

We have talked a bunch on the Bowery Capital blog about AI Nationalism and various elements of AI including ethical challenges, AI country differences, and AI impacts on the B2B ecosystem. Issues concerning AI policy primarily revolve around the analysis of societal decision-making, with important questions...

technology isolation within AI Nationalism

Technology Isolation Within AI Nationalism

As the AI arms race heats up between the worlds two largest economies there are reverberating effects in the global technology industry and government technology policy. Relative to our concept on AI Nationalism that I have talked about in prior posts, we have recently seen...