Seattle VCs remain upbeat |
Connect with TechFlash on our Facebook page for all the latest technology news headlines and commentary, plus information and access to special events, photos from events, promotions and more.
Today On Techflash
- Can Microsoft overcome the smartphone app gap?
- Hey recruiters: Here's an R&D lab run by, and for, students
- Apps that waste your time (in a good way): Execs' addictions
- WTIA announces Industry Achievement Award finalists
- Analyst sees 7-inch iPad in Apple future
- Check out this app: Executives list the ones they use most
Mass High Tech
Seattle VCs remain upbeat
Flickr photo via Stage88
Despite the severe downturn in the economy, venture capitalists are turning slightly more optimistic. That's the key finding of the Washington Technology Industry Association's quarterly Venture Capital Outlook Survey. The VCs are predicting decreases in layoffs as well as better revenue growth for portfolio companies.
Forty-four percent of those surveyed said that they expect moderately better revenue growth in the second quarter, which compares to just 22 percent who responded that way last quarter. Meanwhile, 71 percent of respondents said they plan to make one or two new investments this quarter, up from 56 percent who felt that way in the first quarter.
Only 10 percent of those surveyed said they expect their companies to cut staff by 10 percent or more during this quarter, down significantly from 44 percent in the first quarter.
The survey results echo statements made last week by Seattle venture capitalists Lucinda Stewart, Andy Dale and Greg Gottesman, who indicated that things -- while still tough -- might be turning around. OVP's Stewart -- citing the uptick in venture investments in the state during the first quarter -- said there are a few "glimmers" of hope.
"We are still hunkered down, but at least it feels like a bottom," said Dale, a partner at Buerk Dale Victor.
However, it is not a completely rosy outlook. VCs don't think any IPOs will be completed in the second quarter. And only 14 percent of respondents think one of their companies will be acquired, down from 33 percent who felt that way last quarter. Meanwhile, deal valuations are still low. Seventy-one percent of respondents said that they expect "moderately or "substantially" lower deal valuations.
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.
TechFlash Team
Recent Sponsor Posts
Who's creating today's energy efficient buildings? Find out at the BetterBricks Awards, Feb. 16
BetterBricks Awards salute the individuals leading the way for high performance commercial buildings with an emphasis on energy efficiency. Join us as we recognize these standout green building professionals.
Award categories include: Advocate; Architect/Designer; Facility Manager/Operator; and Owner/Developer.
Keynote Speaker: Kevin Kampschroer, Director of U.S. GSA's Office of Federal High Performance Buildings. Kevin leads the U.S. General Services Administration's efforts in building sustainability and accelerating industry adoption of sustainable principles across all aspects of a building's life.
Register here by February 10!
If you are interested in buying a table, email Monica Alquist or call her at 206-876-5404.
The Triple Door Presents: The Atomic Bombshells "J'ADORE!: A Burlesque Valentine"
Seattle's reigning Burlesque super-troupe delivers a gorgeous and glittering VALENTINE featuring some of the Bombshells' most exhilarating acts to date. J'Adore! promises to celebrate l'amour with good humor, style, and a healthy dose of dazzle! Bring a friend, a lover, a family member, or a secret crush, and celebrate with the Valentine's Burlesque spectacular that will leave you shouting: "J'ADORE......The Atomic Bombshells!" The incomparable Jasper McCann emcees with high style and charm.
Please visit www.thetripledoor.net for a full schedule of future performances.
The Triple Door Presents: Bob Mould – See A Little Light: An Evening of Reading and Music
"Bob Mould. Those two words are synonymous with integrity. From Husker Du in the last century to right at this moment, Bob is the real deal, writing and playing music for music's sake. He's a great songwriter and performer. I have been a fan of Bob's for thirty years now with no end in sight." -Henry Rollins
Please visit www.thetripledoor.net for a full schedule of future performances.
Why Choose BDO for your SOC (previously SAS 70) Reports?
BDO’s experience in providing attestation services (SAS 70/SSAE 16, AT 101, AT 201, AT 601, etc.) to a broad range of industries, and our team of skilled professionals distinctly qualifies us to serve as your company’s Service Auditor. By leveraging the BDO global network of control specialists, we are poised to provide global services in more than 1,000 offices and across 119 countries. Many organizations find that investing in reports on controls may result in benefits, including:
• Increased client confidence
• Improved competitive advantage
• Minimization of frequent audits
• Streamlined business processes and controls
• Enhanced risk management
For detailed information contact Paul Martini at pmartini@bdo.com.
