6/29/2023 0 Comments Promod haqueQ: What are your thoughts on the current IPO market? And do you expect mergers and acquisitions to outpace stock offerings when it comes to VC exits?Ī: 2013 was a very good year for NVP and the market overall, and I see this trend continuing over the next 12 months. We knew early on that the API economy was going to be a fast-growing sector, and it will continue to gain momentum in 2014 as the world becomes entirely programmable. The advancements we’ve seen in cloud and SaaS technologies, the increased use of mobile and the continued influx of sophisticated cyber security attacks have created a lot of opportunity.īut the area I am most excited about is the rise of APIs (application programmer interfaces, bits of code that let software applications “talk” to each other). Q: What’s the next big thing going to be?Ī: There are many exciting things to look forward to in 2014. This type of feedback is critical, and being a patient entrepreneur and pacing a product can pay dividends in the end. We maintain relationships with many chief information officers and other key technology decision-makers, and we want to speak to entrepreneurs who have at least validated their ideas with these potential customers. However, if the product fails, it is very difficult to recover.īusiness referrals at our firm often come from customers. There is a temptation to create buzz and get the product out the door in an effort to quickly drive up valuations. Q: What’s the biggest mistake entrepreneurs make?Ī: Bringing their product to market before it is truly ready. Q: What kinds of pitches are you looking for now? Going through the process of raising money, running out of cash, looking for additional capital, hiring people, conducting a layoff and selling products, while at the same time growing the company, was an enlightening experience and proved to be addictive. As CEO of a startup called Dimensional Medicine, I gained a true appreciation for the very real experiences that entrepreneurs encounter each day. In this week’s Elevator Pitch, Haque holds forth on the state of the IPO markets and what’s ahead for the valley.Ī: I spent several years in various operational roles at public and private companies, including Siemens International, Thorn EMI and Emergent Technologies, before entering the venture world. He spent nine straight years on the Forbes Midas List of top venture capitalists - including 2004, when he was named the best VC in the world.īut Haque isn’t just resting on his dot-com hits like Extreme Networks his portfolio company FireEye notched one of last year’s hottest stock debuts. In nearly 25 years as a venture capitalist, Promod Haque of Norwest Venture Partners has invested in dozens of companies he says have produced a collective $35 billion in exits.
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