I wonder how much of the growth in valuations in the early rounds (given birken/df07's comments) is explained by the "Seed is the new Series A" phenomenon[1].

I wonder how much of the growth in valuations in the early rounds (given birken/df07's comments) is explained by the "Seed is the new Series A" phenomenon[1]. It's very challenging to make sense of all this. You can say "Series A valuations are higher" but does that mean higher valuations per revenue (or whatever metric), or just that the terminology has changed, or one of several other possibilities? [1] http://www.k9ventures.com/blog/2015/06/05/the-seeds-have-changed-an-epilogue-to-the-new-venture-landscape/ http://www.k9ventures.com/blog/2015/06/05/the-seeds-have-cha...