Tech Transfer and Research
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© Service des relations industrielles© (SRI) EPFL Equity in start-ups Historical data Hervé Lebret September 2012 List of company equity tables © Service des relations industrielles© (SRI) EPFL Company Slide Slide Slide Company Slide Company Slide Company Slide 3Com 8 Centillium 28 Groupon * 48 Microsoft 68 Skype ** 88 A123 9 Checkpoint 29 Homeaway 49 MIPS 69 Snaketech ** 89 AcelRX 10 Chiron 30 Ilog 50 mysql ** 70 Soitec 90 Actelion 11 Cisco 31 Infovista 51 Netsuite 71 Solazyme 91 Active Network 12 Compaq 32 Intel 52 Numerical Tech 72 Sun Microsystems 92 Adobe 13 CSR 33 Intuitive 53 ONI 73 Swissquote 93 Alibaba 14 Cypress Semicon. 34 Invensense * 54 OpenTable 74 Synopsys 94 Amazon 15 DoubleClick 35 Ironwood 55 Oracle 75 Tandem 95 AMD 16 eBay 36 Isilon 56 Pandora 76 Tesla 96 Amgen 17 Electronic Arts 37 iVillage 57 Paypal 77 Tessera 97 Apache Design * 18 Envivio 38 Juniper Networks 58 Rambus 78 Tivo 98 Apple Computer 19 Equinix 39 Kayak 58 Red Hat 79 Transmode 99 Arm Holding 20 Excite 40 Linkedin 60 Rediff 80 Twitter * 100 Atheros 21 Facebook * 41 Logitech 61 Responsys 81 Virata 101 Baidu 22 Foundry Networks 42 Lotus 62 Riverbed 82 VistaPrint 102 Blue Arc 23 Fusion-io 43 Lycos 63 RPX 83 Wavecom 103 Broadcom 24 Gemplus 44 Magma 64 Salesforce.com 84 Yahoo 104 Broadvision 25 Genentech 45 Marimba 65 Selectica 85 Zillow 105 Business Objects 26 Genzyme 46 Maxlinear 66 Sequans 86 Zipcar 106 Carbonite * 27 Google 47 Mentor Graphics 67 Siebel Software 87 Zynga * 107 List of new company equity tables Company Slide Slide Slide Company Slide Company Slide© Service Company des relations industriellesSlide© (SRI) EPFL MobiTV 109 Enphase Energy 129 Renren 149 Mascoma 169 Fluidigm 110 Instagram 130 Parrot 150 Jive Software 111 Palo Alto Networks 131 Accuray 151 Infoblox 112 Splunk 132 Genomatica 152 Millennial Media 113 Rib-X Pharma 133 Peregrine 153 AVG technologies 114 Merrimack 134 Hansen Medical 154 Audience 115 Cempra 135 Adnexus 155 Guidewire 116 Versatem 136 Infinera 156 ChemoCentryx 117 Horizon Pharma 137 Starent Networks 157 Intelepeer 118 Hyperion 138 Regulus Therap. 158 Tria Beauty 119 Supernus 139 Lifelock 159 Synacor, Inc. 120 Stemline 140 OvaScience 160 Argos Therapeutics 121 Tesaro 141 Nanosys 161 E2open 122 Durata 142 Anacor 162 Yelp 123 INSIDE Secure 143 Qualys 163 NewSummit Bio. 124 Oncomed Pharma. 144 F-secure 164 VIPShop Holding 125 iWall 145 Elevance 165 Demandware 126 Kythera 146 Gevo 166 BrightCove 127 LaShou Group 147 Kior 167 Yandex 128 GlobeImmune 148 Amyris 168 Summary © Service des relations industrielles© (SRI) EPFL Field Start-ups Years to VC Amount Sales Founders' Location Start-ups Years to VC Amount Sales Founders' IPO ($M) ($M) age IPO ($M) ($M) age Biotech 29 8 92 10 43 Boston Area 13 6 97 48 40 Energy/Env. 8 6 196 44 41 California 8 10 69 60 37 HW/Comp./Tel 32 7 74 69 36 China 6 7 124 88 33 Internet 40 6 146 239 33 Czech Rep. 1 20 48 166 28 Medtech 4 8 68 26 41 East Coast 15 8 89 25 39 Other 3 7 207 104 42 Finland 1 11 0 12 23 Semiconductor 27 8 53 71 37 France 12 10 36 115 34 Software 18 8 22 51 31 India 2 4 30 2 46 Total général 161 7 95 97 36 Israel 1 3 0 31 28 Other US States 14 6 211 100 35 Russia 1 14 5 439 33 Silicon Valley 77 6 98 120 36 Period Start-ups Years to VC Amount Sales Founders' Sweden 3 8 34 78 31 IPO ($M) ($M) age Switzerland 3 4 13 151 36 1965 2 3 4 4 37 United Kingdom 4 8 76 60 35 1970 1 3 6 7 32 Total général 161 7 95 97 36 1975 6 6 7 60 29 1980 12 4 22 61 36 1985 5 10 9 171 33 1990 21 9 50 55 33 1995 43 7 72 82 35 2000 45 8 132 144 37 2005 22 5 196 107 42 2010 4 2 72 0 40 Total général 161 7 95 97 36 NB: Period indicates in which 5-year period the company was founded. Summary © Service des relations industrielles© (SRI) EPFL Field Founders Employee Investors IPO Location Founders Employee Investors IPO % % % Shares % % % Shares Biotech 7% 16% 53% 24% Boston Area 11% 19% 51% 22% Energy/Env. 7% 18% 60% 16% California 11% 30% 49% 12% HW/Comp./Tel 10% 31% 46% 15% China 17% 20% 47% 16% Internet 19% 23% 46% 13% Czech Rep. 13% 76% 11% Medtech 6% 22% 51% 21% East Coast 8% 19% 52% 20% Other 10% 23% 56% 15% Finland 45% 34% 22% Semiconductor 14% 27% 43% 17% France 20% 19% 47% 19% Software 25% 27% 38% 15% India 23% 15% 45% 17% Overall 14% 24% 47% 17% Israel 37% 15% 37% 11% Other US States 13% 23% 49% 15% Russia 14% 10% 61% 15% Silicon Valley 14% 27% 45% 15% Period Founders Employee Investors IPO Sweden 25% 22% 54% 25% % % % Shares Switzerland 23% 33% 25% 19% 1965 25% 23% 36% 16% United Kingdom 4% 32% 46% 20% 1970 8% 22% 52% 18% Overall 14% 24% 47% 17% 1975 29% 32% 26% 13% More in appendix 1980 16% 29% 38% 18% 1985 18% 32% 44% 18% 1990 18% 26% 42% 16% 1995 13% 25% 48% 15% 2000 10% 23% 52% 16% 2005 10% 18% 53% 20% 2010 20% 11% 45% 32% Overall 14% 24% 47% 17% NB: Period indicates in which 5-year period the company was founded. Overall data (1/2) Start-up Field Geography Founded IPO Years Found. Emp. Emp. ESOP- ESOP- Dir. Investors IPO Total Nb of Dir % Nb of Found. Found. F1 F2 F3 F4 F5 F6 to IPO shares granted reserved Dir. found.© Service% age des relations industrielles© (SRI) EPFL 3Com HW/Comp./Tel Silicon Valley Jun-79 Mar-84 4.8 14.1% 32.7% 25.1% 5.5% 2.1% 35.9% 17.2% 100% 2 7.1% 32 32 A123 Energy/Env. Boston Area Oct-01 Sep-09 7.9 4.0% 13.3% 2.2% 8.3% 2.8% 55.0% 27.2% 100% 3 1.3% 36 25 37 45 AcelRX Biotech Silicon Valley Jul-05 Feb-11 5.6 4.4% 9.2% 0.7% 8.5% 45.0% 41.4% 100% 2 2.2% 50 53 47 Actelion Biotech Switzerland Dec-97 Apr-00 2.3 17.1% 4.9% 1.5% 3.4% 58.9% 19.1% 100% 5 3.4% 41 38 38 45 44 Active Network Internet California Oct-98 May-11 12.6 0.2% 29.1% 20.7% 8.4% 0.3% 51.1% 19.2% 100% 1 0.3% 2 0.1% 31 31 30 Adobe Software Silicon Valley Dec-82 Aug-86 3.7 14.0% 24.1% 15.9% 5.4% 2.8% 51.4% 10.6% 100% 2 7.0% 42 41 42 Alibaba Internet China Jun-99 Nov-07 8.4 6.8% 4.9% 1.5% 0.8% 2.6% 0.01% 83.8% 4.4% 100% 4 0.001% 4 1.7% 31 35 35 23 29 Amazon Internet Washington Jul-94 May-97 2.9 28.2% 51.4% 20.6% 10.1% 20.7% 10.7% 9.8% 100% 1 28.2% 30 30 AMD HW/Comp./Tel Silicon Valley May-69 Sep-72 3.3 20.2% 24.3% 15.2% 3.7% 5.4% 36.1% 19.4% 100% 8 2.5% 34 35 40 33 28 35 Amgen Biotech California Apr-80 Jun-83 3.2 42 42 37 50 39 Apache Design * Semiconductor Silicon Valley Jan-01 Jun-11 10.5 24.5% 34.8% 14.2% 9.6% 11.0% 0.7% 21.7% 18.3% 100% 2 0.4% 4 6.1% 42 50 37 39 Apple Computer HW/Comp./Tel Silicon Valley Jan-77 Dec-80 3.9 18.4% 59.0% 45.5% 9.0% 4.5% 16.2% 6.4% 100% 2 9.2% 24 21 26 Arm Holding Semiconductor United Kingdom Oct-90 Apr-98 7.5 1.7% 18.7% 8.5% 7.3% 2.9% 55.5% 24.2% 100% 3 0.6% 31 32 31 31 Atheros Semiconductor Silicon Valley May-98 Feb-04 5.8 6.7% 38.3% 21.0% 12.6% 4.7% 41.0% 14.1% 100% 2 3.4% 41 36 45 Baidu Internet China Jan-00 Aug-05 5.6 21.8% 19.4% 12.3% 3.6% 3.5% 47.1% 11.7% 100% 2 10.9% 33 31 35 Blue Arc HW/Comp./Tel United Kingdom 1998 2011 13 19.5% 8.3% 9.7% 1.5% 68.4% 12.0% 100% 3 31 31 Broadcom Semiconductor California Aug-91 Apr-98 6.7 35.1% 43.7% 17.5% 13.6% 12.6% 1.6% 13.3% 6.3% 100% 3 0.5% 2 17.6% 34 31 36 Broadvision Internet Silicon Valley May-93 Jun-96 3.1 26.1% 19.6% 7.9% 4.1% 7.6% 0.8% 39.2% 14.2% 100% 1 0.8% 1 26.1% 35 35 Business Objects Software France Nov-90 Sep-94 3.9 20.8% 18.7% 5.2% 6.5% 7.0% 37.4% 23.1% 100% 2 10.4% 27 27 27 Carbonite * HW/Comp./Tel Boston Area Feb-05 Aug-11 6.5 11.8% 18.3% 5.4% 6.2% 6.7% 0.7% 44.0% 25.1% 100% 1 0.7% 2 5.9% 55 63 47 Centillium Semiconductor Silicon Valley Feb-97 May-00 3.3 22.4% 19.8% 6.5% 9.5% 3.8% 43.3% 14.6% 100% 5 4.5% 37 35 36 39 Checkpoint Software Israel Jul-93 Jun-96 3.0 37.3% 14.6% 1.0% 11.9% 1.7% 37.0% 11.1% 100% 3 12.4% 28 25 31 27 Chiron Biotech Silicon Valley May-81 Aug-83 2.2 24.9% 30.4% 16.2% 0.8% 13.4% 26.8% 17.8% 100% 3 8.3% 45 41 54 40 Cisco HW/Comp./Tel Silicon Valley Jan-84 Feb-90 6.1 21.8% 37.2% 16.3% 16.8% 4.1% 23.3% 17.6% 100% 2 10.9% 29 29 29 Compaq HW/Comp./Tel Texas Feb-82 Dec-83 1.8 8.0% 15.9% 5.1% 5.0% 5.8% 52.8% 23.5% 100% 3 2.7% 36 36 37 36 CSR Semiconductor United Kingdom Apr-99 Mar-04 4.9 7.1% 59.3% 47.6% 11.7% 0.8% 16.1% 16.6% 100% 1 0.8% 3 2.4% 38 40 35 Cypress Semicon.