
PVC SaaS Index™ | Q4 2024 – SaaS Multiples Rebounding

Aman Verjee
- IPO
- Public Markets
- PVC SaaS Index
- SaaS
A Practical Summary: Every quarter, we update our PVC SaaS Index™, a basket of publicly traded US-listed SaaS companies. This index provides a useful benchmark for how private companies should be valued when they find exits. Software as a Service (“SaaS”) has been around longer than the cool new cloud. While the SaaS category shares some aspects of

Finally! What Fed Rate Cuts Mean for Tech Valuations

Aman Verjee
- Federal Reserve
- Macro
- Public Markets
Practical Summary: The Federal Reserve Board finally cut interest rates last month. This represents the first rate cut since the start of the COVID-19 pandemic in March 2020 and might be the most anticipated rate cut of all time. The US bond markets had been pricing in multiple rate cuts as early as September 2023,

PVC SaaS Index™ Q3/24 Update: SaaS Multiples Stabilized This Summer

Aman Verjee
- IPO
- Public Markets
- PVC SaaS Index
- SaaS
A Practical Summary: Every quarter, we update our PVC SaaS Index™, a basket of publicly traded US-listed SaaS companies. This index provides a useful benchmark for how private companies should be valued when they find exits. The median sales multiple in the PVC SaaS Index™️ has fallen to 6.0X EV / LTM revenue due to

PVC SaaS Index™ | Q2 2024 – Non-AI Revenue Slowing and Budget Pressure

Aman Verjee
- IPO
- Public Markets
- PVC SaaS Index
- SaaS
Practical Summary: *** This post is an update in a quarterly series of posts that tracks the PVC SaaS Index™, a basket of publicly traded US-listed SaaS companies. Software as a Service (“SaaS”) has been around longer than the cool new cloud. The SaaS category shares some aspects of cloud computing, but its focus tends

VC Fund Secondary: Buy the Winning Ticket at Halftime

Dave McClure

Stephanie Shorter
- J-Curve
- Liquidity
- Secondary
Skip the J-curve. Buy at a discount. Cut the VC fund in half.