i will defer to PG & YC in terms of their data on valuation/caps post-demo day, however our experience is that they probably reached a local max sometime last year, and they are certainly softer this year.
in general, most companies with similar progress are being valued less highly than last year.
which isn't to say they are either cheap, or a bargain -- just not as high as last year.
in general, most companies with similar progress are being valued less highly than last year.
which isn't to say they are either cheap, or a bargain -- just not as high as last year.