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Case15 Spotfire
Case15 Spotfire
Case15 Spotfire
Source: Spotfire
Figures may not balance due to rounding. Estimates based on report to the Board on 1/98
Opening Balance 255 128 3,256 3,089 255 2,981 3,030 2,372
Net Income (145) (159) (119) (119) (542) (2,060) (484) 4,410
Depreciation 9 11 12 12 44 72 85 123
Cash from Operations (136) (148) (107) (107) (498) (1,988) (399) 4,533
Change in Working 9 43 (60) 13 5 131 (146) (443)
Capital
Purchase of Fixed (28) (14) (42) (72) (91) (182)
Change in Borrowings 261 261 (22) (22) (22)
Other Sources/Uses 3,000 3,000 2,000
Closing Balance 128 3,256 3,089 2,981 2,981 3,030 2,372 6,258
Source: Spotfire
Exhibit 7 Share Ownership and Financing Details
Shares at July 10, 1997 First Round, August 1, 1997 Ownership After First Round
New Money Convertibles Shares
Shareholder Total % ($000s) Issued Issued Options %
Source: Spotfire
Exhibit 8 Sample of Software Companies and Most Recent VC Financings
Employed at Year-End
1997 1998E 1999E 2000E
Management 2 4 6 6
Administration 1 2 4 8
Sales 5 10 18 34
Marketing 1 3 4 8
Customer Service 2 3 4 8
Development 7 9 12 20
Total 18 31 48 84
Source: Spotfire.
Exhibit 10 Valuation Comparisons of Publicly Listed Software Firms (dollars in millions)
Net Market
Income/ Value
(Loss) Net Sales June 24,
Company Name 1997 1997 1998
Sterling Software (133.00) 489.00 2,282.00
Award Software Intl., Inc. 4.70 23.40 78.00
Parametric Technology 219.20 808.80 9,418.00
Source: Compiled Standard & Poor's Compustat, Thomson Financial Datastream International data.