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15 Financed Startups Worth $100 Million +

Last year these businesses hardly existed:

Betterworks

Estimated Value: $100 Million

Founded: 2011

Business: A business platform where businesses can create, more rewarding work environments for their employees.

Investors: Redpoint Ventures

Analysis: Betterworks is a social platform for employees that rewards them and encourages collaboration. Last month, Betterworks raised $8 million with an implied valuation of $100 million.

Instagram

Estimated Value: $100 million

Date launched: November 2010

Business: Photo sharing for iPhone

Investors: Andreessen-Horowitz, Baseline Ventures, and Benchmark Capital

Analysis: Instagram is a photo sharing application that is receiving an immense amount of traffic. It is growing shockingly fast. In less than a year, it has amassed 9 million users

Warby Parker

Estimated Value: $120 million

Founded: Late 2010, launched early 2011

Business: Warby Parker is a prescription glasses online discount retailer.

Investors: First Round Capital, SV Angel, Lerer Ventures, Davis Smith.

Analysis: While margins for online retailers aren’t huge, glasses are something that are purchased almost annually; Warby’s product inherently encourages repeat customers. One of the sources estimates that Warby Parker has already sold more than 100,000 pairs of glasses in the last year.

BeachMint

Estimated Value: $150 Million

Date founded: Late 2010

Business: Social commerce company where celebrities launch lines and products.

Investors: New Enterprise Associates, Trinity Ventures, Lightbank, Scale Venture Partners, Stanford University, Anthem Venture Partners,

Analysis: The startup raised $23.5 million in June at a reported $150 million valuation.

Flipboard

Estimated Value: $200 million

Founded: 2010

Business: Personalized social magazine for iPad

Investors: Venture Partners, Comcast Capital, Kleiner Perkins Caufield & Byers, Index Ventures, the Chernin Group, angel investor Ron Conway, Square CEO Jack Dorsey, actor Ashton Kutcher, and Facebook co-founder and Asana founder, Dustin Moskovitz

Analysis: Flipboard is an easy news reading experience for the iPad. In April, Flipboard raised $50 million at an estimated $200 million valuation.

Shoedazzle

Estimated Value: $280 Million

Founded: March 2009

Business: Personal styling and fashion services including the sales of shoes, handbags, jewelry, and more for a monthly fee.

Investors: $40 million in May 2011 funding from Andreessen Horowitz, Lightspeed Venture Partners, and Polaris Ventures

Analysis: Shoedazzle offers its members personalized fashion, including shoes, jewelry, handbags, and other accessories. Users are charged to receive the monthly accessories at their doorsteps.

The company is expected to generate $70 million in 2011 revenue, up from $23 million in 2010. Shoedazzle raised $40 million in May of 2011, with a valuation north of $200 million.

Vostu

Estimated Value: $300 million

Founded: 2007

Business: Online gaming site and virtual goods

Investors: Raised $30 million from Tiger Management, Accel Partners, Intel Capital and General Catalyst Partners in late 2010.

Analysis: Vostu is an online gaming company that is big in Brazil. It has 42 million users.

Vostu raised $30 million at the end of last year at what we estimate was a $300 million post-money valuation. While the company has grown significantly since then, a lawsuit with Zynga is a potential risk for Vostu. We estimate that Vostu will do about $50 million of revenue this year. We use a 6x multiple, keeping the valuation at $300 million.

One Kings Lane

Estimated Valuation: $440 Million

Founded: 2009

Business: Flash sale site

Investors: Tiger Global Management, Institutional Venture Partners, Kleiner Perkins Caufield & Byers, and Greylock Partners

Accel Partners, Comcast Ventures, Allen & Company, and Khosla Ventures.Analysis: The Wall Street Journal says One Kings Lane will likely generate $100 million in revenue this year, up from $30 million last year. Last week, the company raised $40 million at a $440 million valuation

ZocDoc

Estimated Value: $700 million

Founded: 2007

Business: Online booking for doctor and dentist appointments

Investors: Jeff Bezos, DST Global, The Founders Fund, Khosla Ventures, Mark Benioff, and SV Angel

Analysis: ZocDoc is an easy way to book last-minute doctor appointments online. It is used by more than 700,000 people per month. ZocDoc is free for patients and charges every featured practice $250 per month.

This summer, DST Global invested $50 million and Goldman Sachs invested $25 Million in ZocDoc at about a $700 million valuation.

Storm8

Estimated Value: $1 billion

Founded: March 2009

Business: Storm8 is the creator of Role Playing Games on the iPhone, iPod Touch and Android device

Investors: Accel Partners and Technology Crossover Ventures.

Analysis: Storm8 creates role playing games for mobile devices. It is rumored to be raising a $300 million round at around a $1 billion valuation from the likes of Accel Partners and Technology Crossover Ventures. Zynga was interested in acquiring Storm8 but took its name out of the running because the price was too rich

Spotify

Estimated Value: $1.1 billion

Founded: 2006

Business: Spotify is a digital music service that provides access to millions of songs.

Investors: Kleiner Perkins Caufield and Byers and Digital Sky Technologies Global

Analysis: Spotify is enormously popular in Europe and recently launched in the US, where it has already amassed 2 million subscribers.

The $50 million Spotify raised in February was reportedly at a $1.1 billion valuation

Rovio

Estimated Value: $1.2 billion

Founded: 2003; Angry Birds launched December 2009

Business: Game development and merchandise, well known for the popular game, Angry Birds.

Investors: Accel Partners and Atomico Ventures

Analysis: In March, the Angry Birds maker raised $42 million from Accel Partners and Atomico Ventures at an estimated valuation of $200 million.

This year, we estimate the company is on track to generate $80 million of revenue, and it’s supposedly raising an even bigger round at a $1.2 billion valuation.

Airbnb

Estimated value: $1.3 billion

Founded: August 2008

Business: Offers a global network of accommodations offered by locals.

Investors: Andreessen Horowitz, DST Global, and General Catalyst invested $112 million in July.

Analysis: Airbnb is a short-term apartment rental service. The company raised $112 million in July, but Airbnb is not without its issues. Users have publicly complained about their apartments being destroyed by other Airbnb users.

Reports suggest that Airbnb will do north of $500 million of gross merchandise sales in 2011, and book net revenue of about 5% of that.

We put the company’s value at $1.3 billion, which is about 2X gross merchandise sales and the reported valuation of the most recent financing.

Square

Estimated Value: $1.6 billion

Founded: 2009

Business: Accept credit card payments anywhere with your iPhone, iPad or Android phone.

Investors: In 2009, Khosla Ventures invested $10 million in Square. In January, Square raised $27.5 million from Sequoia Capital, Khosla Ventures, and Jeremy Stoppelman. In June, Square raised a massive $100 million round led by Kleiner Perkins Caufield & Byers and Tiger Global Management.

Analysis: Earlier this year, Square raised capital at a $240 million valuation. In June, it raised an additional $100 million; two inside sources say the round valued Square at $1.6 billion.

Square is getting used by more and more small businesses, but it is still largely unprofitable. The New York Times reports, “Square is on track to notch gross revenue of about $40 million. But its adjusted operating income is expected to be in the red, at negative $20 million. The hope is for Square to reach profitability in 2012 with gross revenue of at least $200 million.”

Dropbox

Estimated Value: $4 billion

Founded: 2007

Business: Dropbox is a free service that lets you bring your photos, docs, and videos anywhere and share them easily.

Investors: Dropbox is rumored to have closed a massive round at a $4 billion valuation led by Index Ventures last month. It received seed money from Y Combinator and, in fall 2008, Sequoia Capital led a $7.2M Series A with Accel Partners.

Analysis: Before the round was reported last month, rumors were flying that Dropbox could be worth as much as $8 billion. Due to tanking markets or an interest in specific investors, Dropbox settled for a lower valuation.

The $4 billion valuation could be justified. Dropbox makes it easy to store and backup documents in the cloud, sync them between devices and retrieve them later. It solves a problem everyone has, so it has a very big potential market.

Dropbox’s costs are always going to go down, because cloud computing costs are always getting cheaper. On the revenue side, Dropbox’s revenues are always going to go up. It’s a freemium business model, and freemiums works best when the value of the services go up over time. Most people won’t pay to back up a few files on Dropbox. They’ll pay to store them all.