BVP Cloud Index end of July 2018

The BVP Cloud Index is a market cap weighted index that tracks the activity of the
leading public cloud companies. Inception date was January 1, 2011 – 7 1/2 years ago.

There are currently 50 companies in the index including many of the growth stocks favored here
such as Alteryx (AYX), Hubspot (HUBS), Okta (OKTA), Shopify (SHOP), Talend (TLND), Twilio (TWLO),
and Wix (WIX).

  • The Index is up 40% YTD (from 12/29/2017 to 7/27/2018).

  • The Index is up 591% (26% annualized) since inception (1/1/2011).

  • 65% of the gains in the Index have come in just the last 19 months.

  • The Index is currently trading at an average 9.2X (EV/2018 Rev). Previous all-time high was 9.2X.

  • In early 2016, the Index lost 17% in one day. It lost 35% in six weeks. Multiple was 3.7X.

The BVP Cloud Index is maintained by Bessemer Venture Partners. You can find the Index here:

Note: I track this index for purposes other than my own investing. I share it here because I know
several of you are heavily invested in these types of businesses and thought you might be interested.