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But Mr. Yu had trouble raising more money at an equivalent valuation — money the company needs to cover escalating technology costs.
Uber last week announced another $1.2 billion in funding at a $40 billion valuation — money that the company said it would use in part to further its already-aggressive international expansion.
Slack is in the midst of raising another $500 million in financing at what could be a $5 billion valuation — money it will likely critically need as it goes after major corporate clients and construct a functional business — according to a report by Recode.
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But not all service companies should be avoided, and the technology stock sell-off may have provided relatively attractive valuations, money managers said.
In his ersatz press release, Fried quotes himself declaring, "When it comes to valuation, making money is a real obstacle.
"We've raised some capital, but I always looked at the dilution, valuation and money in the bank triangle".
Assuming bit.ly sold 20percentt of its shares to its new investors (the O'Reilly Alpha Tech Fund, Mitch Kapor, and Howard Lindzon), that would imply an $8 million pre-money valuation ($10 million post-money).
The rise of those ratios in June 1998 made Leuthold, a valuation-oriented money manager, turn bearish long before the stock market bubble burst in 2000.
The company's £125 million IPO valuation (post-money) is now worth, including a currency conversion, $206 million, give or take.
We're hearing from sources that Layer's valuation post-money was in the mid-$60 million range.
"Silicon Valley is a bubble" doesn't refer to valuations or money--it refers to the fact that you live in a bubble.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com