PinnedMember-onlyPVC SaaS Index™ | Q2 2022 UpdateSaaS Multiples Are at a 4-Year Low: Where Do They Go From Here? Practical Summary: Our PVC SaaS Index™ companies trades at just over 8x EV / LTM revenue, lower than at any time since the Q1 2020 market panic that followed the COVID pandemic … and around where SaaS multiples were in 2017–2018 The median company multiple in our index is down…SaaS8 min readSaaS8 min read
Apr 28Member-onlyWill Debt Ceiling Brinksmanship Affect US Securities?by Aman Verjee The US and Denmark are the only two countries in the world that have a “debt ceiling,” which is a legislatively imposed limit on the aggregate amount of debt that the government can incur. In other nations, the legislature and / or executive branches run a budget…10 min read10 min read
Apr 2Member-onlyPVC SaaS Index™ | Q1 2023Practical Summary: The PVC SaaS Index™ now trades at 6.9x EV / LTM revenue, slightly up from the 6.3x multiple that we observed at the end of Q4 2022, which was the lowest multiple since early 2017. Over the past 5 years, the index has averaged 10–11x, so it is now 35%…SaaS4 min readSaaS4 min read
Nov 11, 2022Member-onlyRunning List of Trump’s Endorsements and 2022 Results in Competitive Statesby Aman Verjee Former President Donald Trump supported a lot of candidates who lost, often in races Republicans were expected to win. …Trump2 min readTrump2 min read
Nov 3, 2022Member-onlyA Closer Look at Justin Verlander’s World Series WoesNovember 2, 2022 by Aman Verjee Justin Verlander, 39, will likely win his third American League Cy Young award this year. He’s a nine time All-Star. He is the the active leader in wins (244), and in strikeouts (3,198, 12th all-time). …Justin Verlander4 min readJustin Verlander4 min read
Oct 23, 2022Member-onlyThe Truth about Clayton Kershaw’s Postseason Recordby Aman Verjee Clayton Kershaw is a surefire, first-ballot Hall of Fame pitcher. He’s a three time Cy Young Award winner (he finished second once), a four-time NL ERA champion, and he is closing in on 200 wins. …Baseball6 min readBaseball6 min read
Mar 21, 2022Member-onlyPVC SaaS Index™ | Q1 2022 UpdateBy Aman Verjee General Partner, Practical Venture Capital March 21, 2022 Practical Summary: · Our PVC SaaS Index™ companies trades at 11x EV / LTM revenues, well within the historical range of 7–12x where SaaS has traded for most of the past 10 years · The median SaaS multiple has…SaaS9 min readSaaS9 min read
Nov 22, 2020Member-onlyPVC SaaS Index™ | Q3 2020: “You Get What You Pay For”Practical Summary: Our PVC Index of SaaS companies now trades at over 11x EV / LTM revenues More recent IPOs (post 2016) are at 18x This group of 51 companies ($680B market cap) is growing at a median 34% yoy growth rate This may be the first time ever that…SaaS5 min readSaaS5 min read
Oct 27, 2020Member-onlyeCommerce Has Just Jumped Forward by 5 YearsPractical Summary: eCommerce has accelerated amid the COVID-19 pandemic Online sales (excluding restaurants / gas) will represent over 25% of total US retail sales in 2020 versus 16% in 2019 Some of the early winners were the established eCommerce brands, notably Amazon, Walmart, Target and eBay More recently, a next…Ecommerce11 min readEcommerce11 min read
Sep 25, 2020Member-onlyThe K-Shaped Recovery is Under WayA Practical Summary The economic recovery unfolding in the US is neither U-shaped nor V-shaped … it’s best expressed as a “K-shaped recovery,” with two Americas diverging For wealthy Americans who are in the top income quartile, and who own significant financial assets, the recession is effectively over: incomes, employment…Covid-1910 min readCovid-1910 min read
