Background –
We analyzed the terms of 234 venture financings closed in the fourth quarter of 2018 by companies headquartered in Silicon Valley. We found that valuation results are at three-year highs, with the software industry recording the strongest valuations. Our data also show a steep decline in the use of multiple liquidation preferences.
Overview of Fenwick & West Results -
Valuation results in the fourth quarter of 2018 improved upon the already strong levels recorded in the prior quarters of the year and are at three-year highs.
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