Haha, not actually the final payout but the 1st tranche of the escrow payout is expected shortly. It was in December 2020 when Moxion #10 was acquired by Autodesk. A proud moment to see one of our fledgling startups reaching maturity and leaving the nest. Hugh and his team keep driving innovation for filmmakers!
Also, great news for the shareholders of Kami #02 has come in overnight. Shareholders, watch out for your update if you haven't spotted it yet.
The vast majority of funded companies start their lives as unsustainable engines. They burn cash in pursuit of a future economic engine that will spit off cash. But as capital became more, and more plentiful it has enabled unsustainability to persist for much longer. When the inevitable weight of business gravity smashes into the face of an unsuspecting subsidy darling, it can get ugly.
Scott Kennedy's list will be helpful to many founders. It is nearly complete but there are many differences between the list entries for founders to discover.
There is a lot of talk about flywheels in the startup world. We captured this one on video for you. A not so serious take but boy does it work! Watch it!
Nuanced advice from Mitali Purohit on "Raising capital in the current environment".
In March 2018 Black Pearl Mail pitched at $7.9m premoney. We did not proceed.
Nearly 5 years later, In December 2022 Black Pearl Group listed on the NZX with a capitalisation of $20m. The current cap is $15m. The company told shareholders it had raised $1.8m, whilst revenue to March was $1.6m ($1.4m ARR) with a net loss of $7.3m.
Only in NZ can a company list on the stock market at such an early stage. It is tough raising capital from VCs but it may be just as hard on the stock market. A small-cap IPO may not deliver substantial liquidity for early-stage investors.
The 2023 SaaS Party is getting closer. 21 June, Wellington, Be there!