What Is NTM Revenue — and When Should Investors Trust It in a Valuation?
Looking for what NTM revenue means? Next-twelve-months revenue is a forward figure. Learn NTM vs LTM vs ARR — and when forward multiples become seller theater.
Venture capital has its own vocabulary, incentives, and mechanics. Our VC explainers break down complex topics — from liquidation preferences to fund economics — so founders and analysts can make better decisions without wading through jargon.
Start with the explainers below to build a stronger foundation in venture capital.
Looking for what NTM revenue means? Next-twelve-months revenue is a forward figure. Learn NTM vs LTM vs ARR — and when forward multiples become seller theater.
A 409A valuation is the IRS-required fair market value of your startup's common stock. Here's how it's computed, when to refresh, and why it matters for every option grant.
Accelerators, incubators, and venture studios each offer different capital, mentorship, and equity trade-offs. Here's how to choose among YC, Techstars, 500 Global, and the alternatives.
Anti-dilution protection adjusts an investor's conversion price if the company raises at a lower valuation. Here's the math behind broad-based, narrow-based, and full ratchet.
Sequoia, Benchmark, Andreessen Horowitz, Accel, Greylock, Founders Fund, Kleiner Perkins, and Index — the 2026 top-tier VC landscape and what each firm owns.
Burn rate and runway are the two most important numbers in any startup. Here's how to calculate them cleanly — and why 'default alive' matters in 2026.