Here’s why we only did three deals last year
There has been a huge disconnect between private and public company valuations over the last few years.
This isn’t the first time I’ve said it. It probably won’t be the last.
During this period of froth, companies were able to raise capital at increasingly ludicrous valuations, and entrepreneurs turned fundraising into a sport — with all the associated bragging rights. Deals closed peaked in 2014, but all-time funding hit its highest point last year, meaning 2015 saw some of the largest funding rounds to date.
The net result of this exuberance was a pissing match over valuations and capital raised, so much so that recruiters famously used these attributes as key selling points when trying to hire.
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