Logan Bartlett - Mattermark Webinar 4.30.2015
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Transcript of Logan Bartlett - Mattermark Webinar 4.30.2015
![Page 1: Logan Bartlett - Mattermark Webinar 4.30.2015](https://reader034.fdocuments.us/reader034/viewer/2022050613/55a5decd1a28ab88558b46fc/html5/thumbnails/1.jpg)
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© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587 2
Agenda
• Who Am I?
• State of the Start-Up Ecosystem
• How Have VCs Found Deals Historically?
• How has Data Impacted Venture Sourcing?
• Trends for 2015
• Advice for Founders
• Q&A
![Page 3: Logan Bartlett - Mattermark Webinar 4.30.2015](https://reader034.fdocuments.us/reader034/viewer/2022050613/55a5decd1a28ab88558b46fc/html5/thumbnails/3.jpg)
© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587 3
Who Am I?
• Investor at Battery Ventures focused
on B2B software investing
• Battery typically looks to write
checks between $8 and $25M
• Active with our firm’s investments in
Coupa, Glassdoor and Yesware
• www.loganvc.com
![Page 4: Logan Bartlett - Mattermark Webinar 4.30.2015](https://reader034.fdocuments.us/reader034/viewer/2022050613/55a5decd1a28ab88558b46fc/html5/thumbnails/4.jpg)
© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587 4
State of the Start-Up Ecosystem
![Page 5: Logan Bartlett - Mattermark Webinar 4.30.2015](https://reader034.fdocuments.us/reader034/viewer/2022050613/55a5decd1a28ab88558b46fc/html5/thumbnails/5.jpg)
© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
1. Cost of starting a company is decreasing
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Source: Mark Suster – Upfront Ventures
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© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
2. Proliferation of micro vc and microbrews
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Source: CB Insights
![Page 7: Logan Bartlett - Mattermark Webinar 4.30.2015](https://reader034.fdocuments.us/reader034/viewer/2022050613/55a5decd1a28ab88558b46fc/html5/thumbnails/7.jpg)
© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
3. Smart minds aren’t running to Wall Street
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Source: Zero Hedge
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© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
4. Market sizes are expanding
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Source: Packetworks
![Page 9: Logan Bartlett - Mattermark Webinar 4.30.2015](https://reader034.fdocuments.us/reader034/viewer/2022050613/55a5decd1a28ab88558b46fc/html5/thumbnails/9.jpg)
© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
5. Distribution is enhancing market velocity
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![Page 10: Logan Bartlett - Mattermark Webinar 4.30.2015](https://reader034.fdocuments.us/reader034/viewer/2022050613/55a5decd1a28ab88558b46fc/html5/thumbnails/10.jpg)
© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
6. Companies are staying private longer
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Source: Mark Suster – Upfront Ventures
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© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
7. Public money is playing in private markets
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Source: CB Insights
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© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
Valuations go up…
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Source: Pitchbook
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© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
Round sizes go up…
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Source: Tom Tunguz - Redpoint
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© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
Unicorns go up…
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Source: CB Insights
![Page 17: Logan Bartlett - Mattermark Webinar 4.30.2015](https://reader034.fdocuments.us/reader034/viewer/2022050613/55a5decd1a28ab88558b46fc/html5/thumbnails/17.jpg)
© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
… And winners take all
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Source: Play Bigger Advisors, LLC.
#1 in Market, 76%
All Others in Market, 24%
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© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587 18
Entrepreneurs should be all like….
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© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587 19
Because great companies are started in all markets
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1,000
2,000
3,000
4,000
5,000
6,000
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Nasdaq
For a full list of all Battery investments and exits, please visit www.battery.com
Nasdaq
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© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587 20
You just need to keep building value …
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© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587 21
… and growing up and to the right
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© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
How Have VCs Found Deals Historically?
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![Page 23: Logan Bartlett - Mattermark Webinar 4.30.2015](https://reader034.fdocuments.us/reader034/viewer/2022050613/55a5decd1a28ab88558b46fc/html5/thumbnails/23.jpg)
© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
Method 1: Smile and dial
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![Page 24: Logan Bartlett - Mattermark Webinar 4.30.2015](https://reader034.fdocuments.us/reader034/viewer/2022050613/55a5decd1a28ab88558b46fc/html5/thumbnails/24.jpg)
© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
Method 2: Networking and referrals
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![Page 25: Logan Bartlett - Mattermark Webinar 4.30.2015](https://reader034.fdocuments.us/reader034/viewer/2022050613/55a5decd1a28ab88558b46fc/html5/thumbnails/25.jpg)
© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
How has Data Impacted Venture Sourcing?
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![Page 26: Logan Bartlett - Mattermark Webinar 4.30.2015](https://reader034.fdocuments.us/reader034/viewer/2022050613/55a5decd1a28ab88558b46fc/html5/thumbnails/26.jpg)
© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
The Godfathers: LinkedIn and TechCrunch
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• LinkedIn provided new insights into both companies and employees
• Crunchbase crowdsourced funding information and provided extensive
coverage on the start-up ecosystem
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© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
Commercialization for the have nots
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• Companies like Facebook, Netflix, LinkedIn,
Twitter, AirBnB etc. built tools to handle their scale
that were later commercialized
• Mattermark took practices that were done at the
top venture firms and institutionalized it for the
masses… .
… and made it searchable by investor, stage, business model etc.
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© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
Tools have proliferated
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Company-Focused People-Focused
For a full list of all Battery investments and exits, please visit www.battery.com
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© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
Targeted outreach
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© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
Trends for 2015
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![Page 32: Logan Bartlett - Mattermark Webinar 4.30.2015](https://reader034.fdocuments.us/reader034/viewer/2022050613/55a5decd1a28ab88558b46fc/html5/thumbnails/32.jpg)
© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
More dinosaurs gonna die
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Bubble, My Ass: Some Unicorns Might Be
Overvalued, But All Dinosaurs Gonna Die.By Dave McClure
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© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
More security breaches are coming
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![Page 34: Logan Bartlett - Mattermark Webinar 4.30.2015](https://reader034.fdocuments.us/reader034/viewer/2022050613/55a5decd1a28ab88558b46fc/html5/thumbnails/34.jpg)
© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
Advice for Founders
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© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
Stay lean and talk to all potential customer…
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![Page 36: Logan Bartlett - Mattermark Webinar 4.30.2015](https://reader034.fdocuments.us/reader034/viewer/2022050613/55a5decd1a28ab88558b46fc/html5/thumbnails/36.jpg)
© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
… and diligence VCs before reaching out
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© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
Don’t optimize for valuation early …
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© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
… because it’s a long journey
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© 2015 ALL RIGHTS RESERVED ● MATTERMARK.COM ● (415) 366-6587
… but a fun one
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