DOCSLIB.ORG

Venture Capital Activity TMT: Transactions Since 2001

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Venture Capital Activity TMT: Transactions Since 2001 Weekly Internet / Digital Media / SaaS Sector Summary Week of February 18th, 2013 Industry Stock Market Valuation Internet / Digital Media / SaaS Last 12 Months Last 3 Months 160 130 150 22% 125 46% 22% 21% 140 120 18% 34% 17% 130 27% 16% 24% 115 16% 23% 120 13% 10% 110 10% 9% 110 8% 105 100 1% 100 90 80 95 02/15/12 05/16/12 08/16/12 11/15/12 02/15/13 11/15/12 12/07/12 12/31/12 01/23/13 02/15/13 (1) (2) (3) (4) NASDAQ Search / Online Advertising Internet Commerce Internet Content Publishers (5) (6) (7) (8) Diversified Marketing Media Conglomerates Gaming SaaS Notes: 1) Search/Online Advertising Composite includes: BCOR, BLNX-GB, DGIT, GOOG, MCHX, MM, MSFT, QNST, RLOC, VCLK, VELT, YHOO, YNDX. 2) Internet Commerce Composite includes: AMZN, AWAY, CPRT, DRIV, EBAY, EXPE, FLWS, LINTA, NFLX, NILE, OPEN, OSTK, PCLN, PRSS, STMP, TZOO, VPRT. 3) Internet Content Composite includes: AOL, DHX, DMD, EHTH, IACI, MOVE, MWW, RATE, RENN, RNWK, SCOR, SFLY, TRLA, TST, TTGT, UNTD, WBMD, WWWW, XOXO, Z. 4) Publishers Composite includes: GCI, MMB-FR, NWSA, NYT, PSON-GB, SSP, TRI, UBM-GB, WPO. 5) Diversified Marketing Composite includes: ACXM, EFX, EXPN-GB, HAV-FR, HHS, IPG, MDCA, NLSN, OMC, PUB-FR, VCI, WPP-GB. 6) Media Conglomerates Composite includes: CBS, CMCSA, DIS, DISCA, LGF, SNE, TWX, VIA.B. 1 7) Gaming Composite includes: 035420-KR, 036570-KR, 2432-JP, 3632-JP, 700-HK, ATVI, CYOU, EA, GA, GAME, GLUU, NTES, PWRD, UBI-FR, ZNGA. 8) SaaS Composite includes: BCOV, BV, CNQR, CRM, CSOD, CTCT, DWRE, ET, JIVE, LPSN, MKTG, N, NOW, RP, ULTI, WDAY. Public Company Valuations Internet / Digital Media / SaaS: Financial Metrics $MM, Except Per Share Data Stock LTM EPS Price Price Range Equity Net Aggregate AV / Revenue AV / EBITDA Price / EPS Long Term Revenue Growth 2/15/13 Low High Value Debt Value LTM CY 12E CY 13E LTM CY 12E CY 13E LTM CY 12E CY 13E Growth PEG 13E/12E Y/Y MRQ Search / Online Advertising Google Inc. $792.89 $556.52 $793.26 $261,387 ($40,878) $220,509 4.4x 4.2x 3.6x 13.5x 11.8x 10.0x 24.5x 19.9x 17.5x 15.7% 1.1 16.6% 36.2% Microsoft Corporation 28.01 26.26 32.95 234,619 (53,880) 180,739 2.5 2.5 2.1 6.3 6.1 5.2 15.4 10.7 9.1 9.5% 1.0 16.6% 2.7% Yahoo! Inc. 21.02 14.35 21.43 24,854 (4,059) 20,795 4.2 4.7 4.5 14.3 12.5 12.5 6.4 19.0 18.6 12.3% 1.5 3.1% 1.6% Yandex N.V. 25.59 16.60 42.01 8,375 (382) 7,993 9.5 8.5 6.5 21.5 18.9 14.2 35.0 30.6 23.2 34.2% 0.7 31.9% 45.5% ValueClick, Inc. 26.96 13.80 27.17 2,028 6 2,034 3.1 3.1 2.7 10.1 9.5 8.1 22.1 16.5 14.6 15.1% 1.0 13.8% 9.3% Millennial Media Inc. 14.20 9.00 27.90 1,112 (122) 990 6.4 5.4 3.4 NM NM 56.1 NM NM 96.8 NM NM 58.4% 88.0% Blucora, Inc. 16.56 10.73 18.63 676 (88) 588 1.4 1.5 1.2 8.1 7.1 5.6 30.7 10.0 7.2 17.5% 0.4 18.0% 46.3% Blinkx plc 1.33 0.51 1.44 483 (42) 442 2.9 2.7 2.3 26.8 26.8 17.5 NM 39.3 26.7 NA NA 19.9% 83.9% ReachLocal, Inc. 12.42 6.25 14.29 354 (95) 259 0.6 0.6 0.5 15.9 11.1 8.5 NM NM NM 18.0% NM 17.7% 20.5% QuinStreet, Inc. 6.39 5.41 11.90 273 (8) 265 0.8 0.8 0.9 6.2 4.5 5.4 NM 86.0 NM 15.0% NM (7.1%) (20.7%) Velti Plc 4.02 3.07 14.65 261 (14) 247 1.0 0.9 0.7 8.2 3.5 3.4 NM 7.5 8.9 28.7% 0.3 21.2% 63.4% Digital Generation, Inc. 8.98 7.51 13.20 248 386 635 1.6 1.6 1.6 5.7 5.0 4.7 NM NM 15.9 16.3% 1.0 3.3% 10.9% Marchex, Inc. 3.82 2.99 5.18 142 (36) 106 0.7 0.8 0.7 26.8 5.9 5.4 NM NM NM 26.1% NM 7.0% (12.6%) Mean 3.0 x 2.9 x 2.4 x 13.6 x 10.2 x 12.0 x 22.3 x 26.6 x 23.8 x 18.9% 0.9 17.0% 28.9% Median 2.5 2.5 2.1 11.8 8.3 8.1 23.3 19.0 16.7 16.3% 1.0 16.6% 20.5% Internet Content IAC/InterActiveCorp $41.70 $38.20 $55.57 $3,515 ($175) $3,341 1.2x 1.2x 1.0x 8.1x 7.0x 5.4x 23.0x 14.7x 11.4x 20.7% 0.5 16.2% 28.2% AOL Inc. 39.52 16.80 43.93 3,027 (361) 2,667 1.2 1.2 1.2 6.3 6.4 6.3 3.5 18.0 20.2 7.5% 2.7 4.2% 3.9% Shutterfly, Inc. 41.95 23.52 42.67 1,524 (245) 1,279 2.0 2.1 1.7 15.5 12.6 9.2 68.8 32.0 24.9 17.8% 1.4 24.3% 33.4% Zillow, Inc. 44.93 23.00 47.85 1,502 (194) 1,308 11.2 11.5 7.7 NM 62.6 41.3 NM NM NM 31.3% NM 48.3% 72.6% Renren Inc. 3.23 3.00 7.87 1,215 (892) 323 2.0 1.9 1.3 NM NM NM NM NM NM NM NM 43.3% 47.2% Bankrate, Inc. 10.30 9.90 25.95 1,030 110 1,141 2.5 2.4 2.5 10.1 8.7 10.2 35.5 17.2 20.9 22.5% 0.9 (3.3%) (18.0%) Trulia, Inc. 35.35 14.69 38.22 966 (90) 876 12.9 13.2 8.7 NM NM 80.5 NM NM NM 20.0% NM 51.9% 75.1% WebMD Health Corp. 17.39 13.13 27.84 852 (169) 683 1.4 1.5 1.6 17.2 10.6 11.6 NM NM NM 16.3% NM (9.4%) (13.0%) Web.com Group, Inc. 17.69 12.22 19.72 834 678 1,511 3.7 3.1 2.9 26.6 10.4 9.8 NM 11.2 8.9 14.0% 0.6 7.1% 51.4% Demand Media, Inc. 7.91 6.20 12.50 674 (113) 561 1.6 1.5 1.3 8.6 5.5 4.7 NM 20.9 16.9 22.4% 0.8 14.1% 20.5% Monster Worldwide, Inc. 5.32 5.01 10.40 591 16 607 0.7 0.7 0.7 4.3 3.9 3.7 10.4 17.4 14.5 13.0% 1.1 (7.4%) (10.3%) comScore, Inc. 16.25 11.30 23.93 579 (47) 532 2.1 2.1 1.9 28.0 12.2 10.7 NM NM NM 34.9% NM 11.0% 9.2% United Online, Inc. 6.34 3.63 6.69 577 136 713 0.8 0.8 0.8 5.9 5.3 5.4 15.6 9.6 10.2 NA NA (0.1%) (2.7%) Dice Holdings, Inc. 9.77 6.95 10.99 572 4 576 2.9 3.0 2.7 8.1 7.5 7.2 16.6 16.5 15.3 16.1% 0.9 11.9% 11.4% eHealth, Inc. 19.71 14.34 28.17 399 (141) 258 1.7 1.6 1.5 12.5 10.5 8.7 58.0 30.8 31.8 16.7% 1.9 9.4% 5.1% Move, Inc. 9.85 6.92 10.06 387 (27) 360 1.8 1.8 1.6 21.7 13.7 10.7 82.1 26.4 20.1 27.0% 0.7 13.2% 11.6% RealNetworks Inc. 7.83 6.75 10.72 276 (271) (1) 5 0.0 NA NA NM NA NA 6.1 NA NA NA NA NA (16.1%) XO Group Inc. 9.40 7.22 10.04 243 (73) 171 1.3 1.3 1.2 9.3 6.7 5.8 29.7 28.1 22.7 NA NA 6.9% 2.2% TechTarget, Inc. 4.71 3.99 7.66 186 (57) 129 1.3 1.3 1.3 8.7 6.7 9.9 47.1 19.9 67.3 NA NA 1.0% (12.4%) TheStreet, Inc. (1) 1.80 1.20 2.30 59 18 77 1.5 NA NA NM NA NA NM NA NA NA NA NA (19.1%) Mean 2.7 x 2.9 x 2.3 x 12.7 x 11.9 x 14.2 x 33.0 x 20.2 x 21.9 x 20.0% 1.2 13.5% 14.0% Median 1.6 1.7 1.6 9.3 8.1 9.2 26.4 18.0 20.1 18.9% 0.9 10.2% 7.1% Internet Commerce Amazon.com Inc.
Load more

Recommended publications
  • Department of Assessments and Taxation
    State of Maryland Larry Kogan Department of Governor Assessments and Taxation Taxpayer Services Michael L. Higgs Director Date: 10/06/2017 VENABLE LLP SUITE 900 750 E. PRATT STREET BALTIMORE MD 21202 THIS LETTER IS TO CONFIRM ACCEPTANCE OF THE FOLLOWING FILING: ENTITY NAME VICI PROPERTIES INC. DEPARTMENT ID D17984675 TYPE OF REQUEST ARTICLES OF AMENDMENT AND RESTATEMENT DATE FILED 10-06-2017 TIME FILED 08:55 AM RECORDING FEE $100.00 ORG. & CAP FEE $250.00 EXPED2TED FEE $70.00 COPY FEE $101.00 FILING NUMBER 1000362010673632 CUSTOMER ID 0003588801 WORK ORDER NUMBER 0004805378 PLEASE VERIFY THE INFORMATION CONTAINED IN THIS LETTER. NOTIFY THIS DEPARTMENT IN WR=TING IF ANY INFORMATION IS INCORRECT. INCLUDE THE CUSTOMER ID AND THE WORK ORDER NUMBER ON ANY INQUIRIES. Charter Division Baltimore Metro Area (410) 767-1350 Outside Metro Area (888) 246-5941 0010797491 301 West Preston Street-Room 801-Baltimore, Maryland 21201-2395 Telephone (410)767-4950/Toll free in Maryland (888)246-5941 CACCPT MRS(Maryland Relay Service)(800)735-2258 TTNoice Website: www.dnt.maryland.gov ENTITY TYPE: ORDINARY BUSINESS - STOCK STOCK: Y CLOSE: N EFFECTIVE DATE.: 10-06-2017 PRINCIPAL OFFICE: STE 820 7 ST. PAUL STREET BALTIMORE MD 21202 RESIDENT AGENT: CSC-LAWYERS INCORPORATING SERVICE COMPANY 7 ST. PAUL STREET SUITE 820 BALTIMORE MD 21202 VICI PROPERTIES INC. ARTICLES OF AMENDMENT AND RESTATEMENT' FIRST: VICI Properties Inc., a Maiyla d corporation (the "Company"), desires to amend and restate its charter as currently in effect and as l~ereinaftei• amended. SECOND: The following provisi are all of the provisions of the charter currently in effect and as hereinafter amended: ARTICLE INCORPORA John Payne, whose address is c/o VIt Properties Inc., Oiie Caesars Drive, Las Vegas, Nevada 89109, being at least 18 years of age, med a corporation under the general laws of the State of Maryland on May 5, 2017.
    [Show full text]
  • Lucene in Action Second Edition
    Covers Apache Lucene 3.0 IN ACTION SECOND EDITION Michael McCandless Erik Hatcher , Otis Gospodnetic FOREWORD BY DOUG CUTTING MANNING www.it-ebooks.info Praise for the First Edition This is definitely the book to have if you’re planning on using Lucene in your application, or are interested in what Lucene can do for you. —JavaLobby Search powers the information age. This book is a gateway to this invaluable resource...It suc- ceeds admirably in elucidating the application programming interface (API), with many code examples and cogent explanations, opening the door to a fine tool. —Computing Reviews A must-read for anyone who wants to learn about Lucene or is even considering embedding search into their applications or just wants to learn about information retrieval in general. Highly recommended! —TheServerSide.com Well thought-out...thoroughly edited...stands out clearly from the crowd....I enjoyed reading this book. If you have any text-searching needs, this book will be more than sufficient equipment to guide you to successful completion. Even, if you are just looking to download a pre-written search engine, then this book will provide a good background to the nature of information retrieval in general and text indexing and searching specifically. —Slashdot.org The book is more like a crystal ball than ink on pape--I run into solutions to my most pressing problems as I read through it. —Arman Anwar, Arman@Web Provides a detailed blueprint for using and customizing Lucene...a thorough introduction to the inner workings of what’s arguably the most popular open source search engine...loaded with code examples and emphasizes a hands-on approach to learning.
    [Show full text]
  • Gep Outlook Report 2019
    INDEX INTRODUCTION 3 EXECUTIVE SUMMARY 4 GLOBAL BUSINESS AND MACROECONOMIC TRENDS 7 Introduction 7 The Macro Indicators 7 Key Drivers of Supply Chain and Price Volatility 10 Implications of Global Economic and Geopolitical Trends 14 2019 TRENDS IN PROCUREMENT DIGITAL TRANSFORMATION 16 Digital-First Mindset 16 “Agile” Procurement as Main Partner to Technology and Overall Business 17 Continued Market Domination of Source-to-Pay Applications 17 Guided Workflows to Enhance Procurement Results and End-User Experience 18 Expansion of Cloud Procurement Solutions Into Direct Procurement and Supply Chain 19 Category-Centric Transformation 19 Disruptive Technologies to Strengthen Data Science Capabilities 20 Disruptive Technologies to Strengthen Smart Automation Capabilities 22 Digitally Savvy, Economically Aware and Analytically Capable Talent 23 SUPPLY MARKET TRENDS AND INSIGHTS BY CATEGORY 24 Direct Materials and Commodities 24 Logistics 27 Information Technology and Telecommunications 31 General and Professional Services 34 Marketing and Advertising 38 CAPEX and Construction 41 MRO 43 Packaging 46 Chemicals 48 Introduction “Praemonitus praemunitus.” Loosely translated from Latin, this means: To be forewarned is to be forearmed. That is, in essence, the mission of our annual GEP Outlook, now in its seventh year of publication. And in today’s climate of sustained volatility, busy procurement and supply chain executives need every available tool they can get to help navigate global supply markets and to guide their teams through opinion and hype. Our annual Outlook report is designed to be a practical planning tool with respect to both macro- level supply chain dynamics as well as category and commodity trends and innovations. It is based on GEP’s collective experience in managing over $125 billion in spend across all sectors and geographies.
    [Show full text]
  • Preparing a Venture Capital Term Sheet
    Preparing a Venture Capital Term Sheet Prepared By: DB1/ 78451891.1 © Morgan, Lewis & Bockius LLP TABLE OF CONTENTS Page I. Purpose of the Term Sheet................................................................................................. 3 II. Ensuring that the Term Sheet is Non-Binding................................................................... 3 III. Terms that Impact Economics ........................................................................................... 4 A. Type of Securities .................................................................................................. 4 B. Warrants................................................................................................................. 5 C. Amount of Investment and Capitalization ............................................................. 5 D. Price Per Share....................................................................................................... 5 E. Dividends ............................................................................................................... 6 F. Rights Upon Liquidation........................................................................................ 7 G. Redemption or Repurchase Rights......................................................................... 8 H. Reimbursement of Investor Expenses.................................................................... 8 I. Vesting of Founder Shares..................................................................................... 8 J. Employee
    [Show full text]
  • DENVER CAPITAL MATRIX Funding Sources for Entrepreneurs and Small Business
    DENVER CAPITAL MATRIX Funding sources for entrepreneurs and small business. Introduction The Denver Office of Economic Development is pleased to release this fifth annual edition of the Denver Capital Matrix. This publication is designed as a tool to assist business owners and entrepreneurs with discovering the myriad of capital sources in and around the Mile High City. As a strategic initiative of the Denver Office of Economic Development’s JumpStart strategic plan, the Denver Capital Matrix provides a comprehensive directory of financing Definitions sources, from traditional bank lending, to venture capital firms, private Venture Capital – Venture capital is capital provided by investors to small businesses and start-up firms that demonstrate possible high- equity firms, angel investors, mezzanine sources and more. growth opportunities. Venture capital investments have a potential for considerable loss or profit and are generally designated for new and Small businesses provide the greatest opportunity for job creation speculative enterprises that seek to generate a return through a potential today. Yet, a lack of needed financing often prevents businesses from initial public offering or sale of the company. implementing expansion plans and adding payroll. Through this updated resource, we’re striving to help connect businesses to start-up Angel Investor – An angel investor is a high net worth individual active in and expansion capital so that they can thrive in Denver. venture financing, typically participating at an early stage of growth. Private Equity – Private equity is an individual or consortium of investors and funds that make investments directly into private companies or initiate buyouts of public companies. Private equity is ownership in private companies that is not listed or traded on public exchanges.
    [Show full text]
  • RRE VENTURES Technology Venture Capital Since 1994
    RRE VENTURES Technology Venture Capital Since 1994 130 E. 59th St. New York, NY 10022 212.418.5100 | www.rre.com DISTINGUISHING QUALITIES RRE Ventures partners with leading entrepreneurs to build world-class businesses Leading early-stage venture capital firm in NYC Over two decades of top quartile performance $1.6 billion under management 240 companies in 7 funds since inception; 114 active portfolio companies Industry-renowned investment team Unmatched Fortune 100 access to support portfolio companies RRE Ventures | Proprietary and Confidential 2 CORE TEAM • H&Q Venture Capital, JPMorgan, IV Systems, • Brown Brothers Harriman, GateHouse Investors, James D. Robinson GE John R. Hass Cheetah Korea Value Fund Managing Partner • Forbes Midas List 2013 Partner • Princeton AB Politics 1994 2010 • Harvard MBA, Antioch BA Computer Science • Advisory Capital, Morgan Stanley, Dillon Read, • Lerer Ventures, stickybits, The Kraft Group, Massive, Microsoft Stuart J. Ellman McKinsey & Co. Steve Schlafman Managing Partner • Adjunct Professor, Columbia Business School Principal • Northeastern AB Summa Cum Laude, Accounting 1994 • Harvard MBA, Wesleyan BA Economics 2013 & Finance • Former Chairman & CEO – American Express Company • Signia Ventures, Bridgewater Associates, Brookings James D. Robinson III • Ret. Lead Director – Coca-Cola; Ret. Chairman Alice Lloyd George Institution, The Wall Street Journal General Partner • – Bristol-Myers Squibb Associate Princeton AB Public Policy, Minor: East Asian 1994 2014 Studies • Harvard MBA, Georgia Tech BS Industrial
    [Show full text]
  • Venture Capital & Private Equity Canadian Market Overview
    VC & PE CANADIAN MARKET OVERVIEW // 2017 CONTENTS PARTICIPATING DATA CONTRIBUTORS ............................................................................... 3 PRIVATE EQUITY CANADIAN MARKET OVERVIEW ...................................................... 17 PRIVATE EQUITY HIGHLIGHTS .................................................................................................................................... 18 FOREWORD ......................................................................................................................................4 PRIVATE EQUITY HEAT MAP // BUYOUT & ADD-ON DEALS ONLY ............................................... 19 VENTURE CAPITAL CANADIAN MARKET OVERVIEW .................................................... 5 PRIVATE EQUITY HEAT MAP // ALL PE DEALS ............................................................................................. 20 VENTURE CAPITAL HIGHLIGHTS ................................................................................................................................ 6 QUARTER-OVER-QUARTER PE INVESTMENT ACTIVITY ....................................................................... 21 VENTURE CAPITAL HEAT MAP ..................................................................................................................................... 7 TOP DISCLOSED CANADIAN PE DEALS OVER $500M ............................................................................ 22 QUARTER-OVER-QUARTER VC INVESTMENT ACTIVITY ........................................................................
    [Show full text]
  • Energy and Clean Technology Venture Forum Thursday, September 17, 2015 8:00 Am - 6:30 Pm Mcnair Hall, Rice University
    13th Annual Energy & Clean Technology Venture Forum : Rice Alliance for Technology and Entrepreneurship - Rice University CONTACT US AUSTIN ALLIANCE JONES GRADUATE SCHOOL OF BUSINESS RICE UNIVERSITY Home About Events Business Plan Competition Membership Sponsorship News 13th Annual Energy and Clean Technology Venture Forum Thursday, September 17, 2015 8:00 am - 6:30 pm McNair Hall, Rice University Agenda Speakers Presenting Participating Companies Investors Testimonials September 17, 2015 Jones Graduate School of Business, Rice University Platinum Underwriters The Rice Alliance's 13th Annual Energy and Clean Technology Venture Forum on September 17, 2015 is the largest energy and clean technology venture capital conference in the southwest. This event represents an opportunity to learn about the latest emerging technologies, meet investors to seek funding, see promising companies, learn about investment opportunities, meet individuals from the energy & clean technology industry, learn about promising companies seeking to expand their management team, as well networking and learning opportunities for entrepreneurs, researchers, investment professional and business executives. This is a must-attend event for anyone involved in the energy and clean technology community in the region. The conference will include industry luminary speakers, investors, and promising startups from throughout the U.S. and beyond. Gold Underwriters Confirmed participating investors, venture capital, and industry participants include the following: 32 Degrees Capital
    [Show full text]
  • Associate Enablement Perspectives
    CONFIDENTIAL 1H2020 Associate Enablement Perspectives DISCLAIMER: ComCap LLC make no representation or warranty, express or implied, in relation to the fairness, accuracy, correctness, completeness, or reliability of the information, opinions, or conclusions contained herein. ComCap LLC accepts no liability for any use of these materials. The materials are not intended to be relied upon as advice outside of a paid, approved use and they should not be considered a guarantee of any specific result. Each recipient should consult his or her own accounting, tax, financial, and other professional advisors when considering the scenarios and information provided. An introduction to ComCap ▪ ComCap is a premier boutique investment bank focused on the intersection of commerce and capital, with key focus on B2B SaaS, B2C e-commerce, payments, mobile commerce, marketplaces and B2B services for retail technologies (IT and marketing services, in-store, fulfillment, logistics, call center, analytics, personalization, location intelligence) ▪ Headquartered in San Francisco with European coverage from London & Moscow, and LATAM coverage from Sao Paulo. Our firm works with mid-cap public companies on buyside initiatives and public and private growth companies on financing and strategic M&A ▪ In addition to being the only boutique focused on disruptive commerce models, we differentiate by: ‒ Bringing bulge bracket techniques to emerging models; ‒ A strong and uncommon buyside/strategy practice; ‒ Deep understanding of industry drivers and synergy analyses;
    [Show full text]
  • To Download a PDF of an Interview with James
    PURPOSE Leadership Lessons An Interview with James D. Robinson III, General Partner and Co-Founder, RRE Ventures EDITORS’ NOTE Jim Robinson fascinated by the dynamics of change about it like weeds in the lawn – they come up also sits on the private boards of a and watching the extent to which peo- every day so we have to be on guard to make number of portfolio companies, ple, companies and countries respond sure they don’t strangle what we’re trying to including Avant, CoverHound, to change or fail to respond to change. accomplish. Fast Performance and NerdWallet. Most often, we have a bell-shaped In a smaller company, change sometimes Additionally, he serves as President curve with those that lead change and rears its head in a different fashion. of J. D. Robinson, Inc. He was then we have a bunch in the middle A number of companies, including some Chairman and Chief Executive and then there is the tail that resists we have started, go out to do X and after nine Officer of American Express change until they are irrelevant. months, they fi gure the market isn’t interested Company from 1977 to 1993 The companies we deal with are in X so they change into Y. and Non-Executive Chairman of not all aimed at disrupting, but they’re Then several months later, they fi gure that Bristol-Myers Squibb from 2005 to aimed at the enterprise or network Y isn’t it either but, in the process, they have 2008, where he sat on the board James D.
    [Show full text]
  • DRAFT L Catterton Notco Series C Press Release CLEAN (01225446
    NotCo Closes $85 Million Series C Round and Announces U.S. Expansion The Leading Food-Tech Company in Latin America Announces the Closing of a Series C Round Co-Led by Future Positive and L Catterton, Joining Bezos Expeditions Among the Startup Investors CHILE – September 9, 2020 – Today, NotCo, a leading food-tech company in Latin America, is announcing the closing of an $85 million Series C investment round, co-led by Future Positive, the investment vehicle of Fred Blackford and Biz Stone, and L Catterton, the largest and most global consumer-focused private equity firm. NotCo is an industry pioneer built using a proprietary technology that can match animal protein to its ideal replacement among thousands of plant-based ingredients. NotCo is the only global company to launch products disrupting massive food and beverage segments, including dairy, eggs, and meat simultaneously. The company has launched NotMilk, NotBurger, NotIceCream, and NotMayo in Brazil, Argentina, and Chile, and in less than three years has become the largest and fastest-growing food-tech company in Latin America. The new funding comes as the company announces scaled up operations and marks plans for international expansion leading with an entry into the United States, a promising market for its portfolio of products of plant- based food that taste as delicious and cook just like animal-based products. The company will evaluate both food service and retail partners as part of this expansion, building on successful NotBurger and NotMeat partnerships with Burger King and Papa John’s in Chile. "We have the absolute best partners to embark with us on this journey: Fred Blackford from Future Positive joins us bringing a collaborative approach, experience with the plant-based food revolution, and a deep knowledge of the tech environment," says Matias Muchnick, co-founder and CEO of NotCo.
    [Show full text]
  • Trends of Venture Capital Internationalisation the Impact of a Technology Ecosystem on Early Stage Cross- Border Investments
    Trends of Venture Capital Internationalisation The impact of a technology ecosystem on early stage cross- border investments . AUTHOR Anna Ahlm TUTOR Conny Overland Spring term 2014 FEA50E Degree Project in Business Administration for Master of Science in Business and Economics, 30 credits Abstract The venture capital industry has grown rapidly in the last decades to become an important source of financing for entrepreneurs. While research suggests that venture capital investments are more likely to be successful if done in close geographic proximity to the venture capital firm, there is clearly a trend of increasing international investments. This thesis looks at the venture capital community in New York to understand venture capital as a part of the development of New York’s technology cluster, and to understand venture capitalists view on cross-border investments. By applying the ecosystem resource perspective model, the study finds that venture capitalists have a strong influence on the technology ecosystem in New York, due to its large financial sector. The study also finds that ecosystem sub-sectors have developed by applying technology to the dominating business sectors in New York. The study also identifies a “reverse internationalisation”, whereby companies founded abroad relocate to New York at earlier stages in their development, as the growth of the New York ecosystem has increased its attractiveness to foreign founded companies. While the empirical results confirm an increasing interest for cross-border investing, the increased supply of early stage investment opportunities (U.S. and foreign founded) creates a strong incentive for a local investment strategy. Further, the study finds that venture capitalists mitigate the risks associated with cross-border investments by establishing funds in specific regions of interest, and by co- investing with local partners.
    [Show full text]