Veeva, a life sciences SaaS I was unaware of prior to this tweet, raised ~$7 million in a Series A. Their next round was "going public" at ~$3.5 billion, and they currently trade at +/- $24 billion.
At time of IPO, it looks like the VCs owned ~31%.
At time of IPO, it looks like the VCs owned ~31%.
Software is so incredibly leveraged that, for materially less than the construction cost of a mid-sized apartment building, you can build and scale a global company in a heavily regulated industry.
"What does an apartment building cost to build?"
Depends on the market but if you're reading this round it to $200k per unit, so a building with 40 doors costs $8 million. It's, naturally, higher in some places and lower in others, owing to labor costs, regulatory issues, etc.
Depends on the market but if you're reading this round it to $200k per unit, so a building with 40 doors costs $8 million. It's, naturally, higher in some places and lower in others, owing to labor costs, regulatory issues, etc.
(Hmm a quick Google suggests that I'm overshooting by 2X~3X for most of the US.)
