Predators in the Board Room: Relating Private Capital Performance and Predatory Behavior
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Uber Founder and CEO Travis Kalanick RESIGNS
Uber founder and CEO Travis Kalanick RESIGNS citing 'difficulties in his personal life' just days after going on indefinite leave in the wake of the company's sexual harassment scandal dailymail.co.uk/news/article-4624186/Uber-founder-CEO-Travis-Kalanick-resigns.html 6/21/2017 Uber founder and CEO Travis Kalanick has resigned from the ride-sharing company Uber founder and CEO Travis Kalanick has resigned from the ride-sharing company. The 40-year-old entrepreneur announced he was stepping down at the firm he founded in 2009 deals with a sexual harassment scandal. Uber's board confirmed the move early on Wednesday, saying in a statement that Kalanick is taking time to heal from the death of his mother in a boating accident 'while giving the company room to fully embrace this new chapter in Uber's history.' He will remain on the Uber Technologies Inc. board and keep his shares which are worth billions. In a boardroom showdown, five of Uber's major investors, including Bill Gurley from capital firm Benchmark, demanded that the chief executive resign immediately. They then obtained a letter in which Kalanick announced his resignation, titled: 'Moving Uber Forward.' In a statement, the 40-year-old co-founder said his resignation would help Uber go back to building 'rather than be distracted with another fight,' an apparent reference to efforts on the board to oust him. It was unclear who would replace Kalanick. 'I love Uber more than anything in the world and at this difficult moment in my personal life I have accepted the investors request to step aside so that Uber can go back to building rather than be distracted with another fight,' it read. -
From Lawyer to CEO?
A Seat at the Head of the Table: From Lawyer to CEO? Interviews and Profiles Skills and Professional Development 1 / 13 2 / 13 3 / 13 CHEAT SHEET Risk aversion. Most law firm cultures are built around a strong bias to risk aversion. However, in transitioning to a more entrepreneurial role, lawyers must expand their perception from “no” to “yes,” even if the next question is “how?” Wearing two hats. For lawyers in business roles, it can sometimes be difficult to look beyond the legal issues when making decisions. As such, it’s essential to develop the ability to wear two hats at a time: one for the business, and one for the legal department. A fresh perspective. As in-house counsel, your seat is often at the center of the table. Given your understanding of the business from all angles, your input will be fresh and unique. Instilling interest. Unfortunately, not everyone is cut out to be an entrepreneur. Above being able to understand the business, lawyers must have a legitimate interest in business operations to succeed. April 2017 marked the 15-year anniversary of my law school graduation. I went through several stages before I realized my legal ambitions, ranging from public service to a coveted spot at a national firm. However, in 2008, I made the jump to general counsel for a technology company. Today, I’m still a GC with the same company, as well as a shareholder. Given my time with the company, familiarity with our “product,” and background, I am often called upon for business-related decisions. -
Factors and Impacts in the Information Society a Prospective Analysis in the Candidate Countries
FACTORS AND IMPACTS IN THE INFORMATION SOCIETY A PROSPECTIVE ANALYSIS IN THE CANDIDATE COUNTRIES REPORT ON ROMANIA Authors: Alexandru Caragea, Radu Gheorghiu, and Geomina Turlea The authors of this report are solely responsible for the content, style, language and editorial control. The views expressed do not necessarily reflect those of the European Commission. January, 2003 Technical Report EUR 21279 EN European Commission Joint Research Centre (DG JRC) Institute for Prospective Technological Studies http://www.jrc.es Legal notice Neither the European Commission nor any person acting on behalf of the Commission is responsible for the use which might be made of the following information. Technical Report EUR 21279 EN © European Communities, 2004 Reproduction is authorised provided the source is acknowledged. Printed in Spain 2 FACTORS AND IMPACTS IN THE INFORMATION SOCIETY A PROSPECTIVE ANALYSIS IN THE CANDIDATE COUNTRIES Acknowledgements Acknowledgements: We are indebted to RALUCA MIRON (Raiffaisen Bank), for her valuable contribution to this work. REPORT ON ROMANIA 3 Preface Preface The Institute for Prospective Technological Studies (IPTS) of the Directorate General Joint Research Centre of the European Commission contracted the International Centre for Economic Growth, European Centre (ICEG EC) to act as the coordinator of a consortium of 11 research institutes to carry out this project. The main objective of the project was to provide a series of national monographs studying the development of the Information Society (IS), including both the positive and negative impacts, in each of the candidate countries. These monographs offer an assessment of the strengths and weaknesses of each country regarding the development of IS, and a view on their possible outcomes; both strongly rooted in factual quantitative data. -
List of British Entities That Are No Longer Authorised to Provide Services in Spain As from 1 January 2021
LIST OF BRITISH ENTITIES THAT ARE NO LONGER AUTHORISED TO PROVIDE SERVICES IN SPAIN AS FROM 1 JANUARY 2021 Below is the list of entities and collective investment schemes that are no longer authorised to provide services in Spain as from 1 January 20211 grouped into five categories: Collective Investment Schemes domiciled in the United Kingdom and marketed in Spain Collective Investment Schemes domiciled in the European Union, managed by UK management companies, and marketed in Spain Entities operating from the United Kingdom under the freedom to provide services regime UK entities operating through a branch in Spain UK entities operating through an agent in Spain ---------------------- The list of entities shown below is for information purposes only and includes a non- exhaustive list of entities that are no longer authorised to provide services in accordance with this document. To ascertain whether or not an entity is authorised, consult the "Registration files” section of the CNMV website. 1 Article 13(3) of Spanish Royal Decree-Law 38/2020: "The authorisation or registration initially granted by the competent UK authority to the entities referred to in subparagraph 1 will remain valid on a provisional basis, until 30 June 2021, in order to carry on the necessary activities for an orderly termination or transfer of the contracts, concluded prior to 1 January 2021, to entities duly authorised to provide financial services in Spain, under the contractual terms and conditions envisaged”. List of entities and collective investment -
The Uber Board Deliberates: Is Good Governance Worth the Firing of an Entrepreneurial Founder? by BRUCE KOGUT *
ID#190414 CU242 PUBLISHED ON MAY 13, 2019 The Uber Board Deliberates: Is Good Governance Worth the Firing of an Entrepreneurial Founder? BY BRUCE KOGUT * Introduction Uber Technologies, the privately held ride-sharing service and logistics platform, suffered a series of PR crises during 2017 that culminated in the resignation of Travis Kalanick, cofounder and longtime CEO. Kalanick was an acclaimed entrepreneur, building Uber from its local San Francisco roots to a worldwide enterprise in eight years, but he was also a habitual rule- breaker. 1 In an effort to put the recent past behind the company, the directors of Uber scheduled a board meeting for October 3, 2017, to vote on critical proposals from new CEO Dara Khosrowshahi that were focused essentially on one question: How should Uber be governed now that Kalanick had stepped down as CEO? Under Kalanick, Uber had grown to an estimated $69 billion in value by 2017, though plagued by scandal. The firm was accused of price gouging, false advertising, illegal operations, IP theft, sexual harassment cover-ups, and more.2 As Uber’s legal and PR turmoil increased, Kalanick was forced to resign as CEO, while retaining his directorship position on the nine- member board. His June 2017 resignation was hoped to calm the uproar, but it instead increased investor uncertainty. Some of the firm’s venture capital shareholders (VCs) marked down their Uber holdings by 15% (Vanguard, Principal Financial), while others raised the valuation by 10% (BlackRock).3 To restore Uber’s reputation and stabilize investor confidence, the board in August 2017 unanimously elected Dara Khosrowshahi as Uber’s next CEO. -
Developing the Business Model
Chap 7 Understanding the Business Model. Dr. Jack M. Wilson Distinguished Professor of Higher Education, Emerging Technologies, and Innovation © 2012 ff -Jack M. Wilson Distinguished Professor Technological Entrepreneurship 7. Business Models 1 Consider the case of Uber • History – Founded in 2009 by Garrett Camp and Travis Kalanick as “UberCab” – Met at LeWeb in Paris, France in 2008, Camp wanted to solve the Taxi problem in San Francisco – Original pitch split the cost of a driver, Mercedes S Class, and a parking spot with an iPhone app – January 2010, service was first tested in New York – Service launched in July 2010 in San Francisco – From May 2011 to February 2012 Uber expanded into Seattle, Boston, New York, Chicago, and Washington D.C. – First international expansion in Paris, France in December 2011 © 2012 ff -Jack M. Wilson Distinguished Professor Technological Entrepreneurship 7. Business Models 2 Founders • Garrett Camp • Travis Kalanick – Graduate from University of – Dropped out of UCLA in 1998, Calgary, Bachelors in Electrical founded Scour Inc. with some Engineering and Masters in classmates Software Engineering – Founder of Scour and Red Swoosh, – Founder of StumbleUpon, a web- peer-to-peer file-sharing companies discovery engine which he sold to – Scour filed for bankruptcy in 2000 to eBay for $75 million in 2007 protect itself from a major lawsuit – Also founded Expa in 2013, A – Served as the CEO at Uber until he startup studio that works to was fired in 2017 after allegations of develop and launch new products inappropriate behavior © 2012 ff -Jack M. Wilson Distinguished Professor Technological Entrepreneurship 7. Business Models 3 Investors in Uber Here is a list of the early investors in Uber • Lowercase Capital • First Round • Menlo • Benchmark • Goldman Sachs • Google Ventures © 2012 ff -Jack M. -
Speaker Book
Table of Contents Program 5 Speakers 9 NOAH Infographic 130 Trading Comparables 137 2 3 The NOAH Bible, an up-to-date valuation and industry KPI publication. This is the most comprehensive set of valuation comps you'll find in the industry. Reach out to us if you spot any companies or deals we've missed! March 2018 Edition (PDF) Sign up Here 4 Program 5 COLOSSEUM - Day 1 6 June 2018 SESSION TITLE COMPANY TIME COMPANY SPEAKER POSITION Breakfast 8:00 - 10:00 9:00 - 9:15 Between Tradition and Digitisation: What Old and New Economy can Learn from One Another? NOAH Advisors Marco Rodzynek Founder & CEO K ® AUTO1 Group Gerhard Cromme Chairman Facebook Martin Ott VP, MD Central Europe 9:15 - 9:25 Evaneos Eric La Bonnardière CEO CP 9:25 - 9:35 Kiwi.com Oliver Dlouhý CEO 9:35 - 9:45 HomeToGo Dr. Patrick Andrae Co-Founder & CEO FC MR Insight Venture Partners Harley Miller Vice President CP 9:45 - 9:55 GetYourGuide Johannes Reck Co-Founder & CEO MR Travel & Tourism Travel 9:55 - 10:05 Revolution Precrafted Robbie Antonio CEO FC MR FC 10:05 - 10:15 Axel Springer Dr. Mathias Döpfner CEO 10:15 - 10:40 Uber Dara Khosrowshahi CEO FC hy Christoph Keese CEO CP 10:40 - 10:50 Moovit Nir Erez Founder & CEO 10:50 - 11:00 BlaBlaCar Nicolas Brusson MR Co-Founder & CEO FC 11:00 - 11:10 Taxify Markus Villig MR Founder & CEO 11:10 - 11:20 Porsche Sebastian Wohlrapp VP Digital Business Platform 11:20 - 11:30 Drivy Paulin Dementhon CEO 11:30 - 11:40 Optibus Amos Haggiag Co-Founder & CEO 11:40 - 11:50 Blacklane Dr. -
How to Catch a Unicorn
How to Catch a Unicorn An exploration of the universe of tech companies with high market capitalisation Author: Jean Paul Simon Editor: Marc Bogdanowicz 2016 EUR 27822 EN How to Catch a Unicorn An exploration of the universe of tech companies with high market capitalisation This publication is a Technical report by the Joint Research Centre, the European Commission’s in-house science service. It aims to provide evidence-based scientific support to the European policy-making process. The scientific output expressed does not imply a policy position of the European Commission. Neither the European Commission nor any person acting on behalf of the Commission is responsible for the use which might be made of this publication. JRC Science Hub https://ec.europa.eu/jrc JRC100719 EUR 27822 EN ISBN 978-92-79-57601-0 (PDF) ISSN 1831-9424 (online) doi:10.2791/893975 (online) © European Union, 2016 Reproduction is authorised provided the source is acknowledged. All images © European Union 2016 How to cite: Jean Paul Simon (2016) ‘How to catch a unicorn. An exploration of the universe of tech companies with high market capitalisation’. Institute for Prospective Technological Studies. JRC Technical Report. EUR 27822 EN. doi:10.2791/893975 Table of Contents Preface .............................................................................................................. 2 Abstract ............................................................................................................. 3 Executive Summary .......................................................................................... -
Raising Venture Capital: the Different
RAISING VENTURE CAPITAL: THE DIFFERENT METHODOLOGIES AND OUTCOMES OF FEMALE AND MALE ENTREPRENEURS AND INVESTORS by CLAIRE KAPIOLANI SOLOMON A THESIS Presented to the Department of Business Administration and the Robert D. Clark Honors College in partial fulfillment of the requirements for the degree of Bachelor of Sciemce June 2018 An Abstract of the Thesis of Claire Kapiolani Solomon for the degree of Bachelor of Science in the Department of Business Administration to be taken June 2018 Title: Raising Venture Capital: The Different Methodologies and Outcomes of Female and Male Entrepreneurs Approved: _______________________________________ Stephen McKeon This thesis analyzes how venture capitalist funding is rationed and provides insight into why female-founded companies receive only 3% of total venture capitalist funding. In order to understand this, this thesis analyzes the relationship between venture capitalist partners and founders. Relationships are often different between investors and male entrepreneurs than between investors and female entrepreneurs. This research explains why this environment has become unsupportive of women and thus proves to be challenging for women to succeed in. The role of gender perception is also vital, and this research project will make a connection between gender biases and underfunding of women entrepreneurs. ii Acknowledgements I would like to thank Professor Steve McKeon, Professor Elizabeth Raisanen, and Professor Katherine Harmon for their support and guidance through the development of my research. I would furthermore like to thank both the Robert D. Clark Honors College and the Lundquist College of Business for the incredible academic opportunities they have provided me over the last four years. Lastly, I honor my sister and mother for the passion they have embedded in me to become a leader for women in business, and to continue encouraging the success of women everywhere. -
2015 Fall Press Report
ROBERT HERJAVEC 2015 Fall Press Report OUTLET: THE HOLLYWOOD REPORTER ISSUE: DECEMBER 4, 2015 CIRCULATION: 73,875 IMPRESSIONS: 221,625 OUTLET: RUNNERS WORLD ISSUE: NOVEMBER 6, 2015 IMPRESSIONS: 2,625,589 I got fired when I was younger, started an internet security business, and that was that. Some people have a vision to start a business. Others adapt because they’re forced to. I was the latter. I was a casual runner my whole life, but I got serious eight years ago when my mom became ill with cancer. My company was growing, my kids were littler, the days felt overwhelming. The only thing that made me forget about everything was running, so I started doing it every day. Most people think business is the fun, sexy stuff we see on TV, but success comes from the 22 things you have to do every day that nobody notices. That’s just like running. There are a lot of fans at the finish line of a marathon, but not as many between miles three and 26. My proudest running moment was my first marathon in Miami in 2009. I trained only for a few months, but I was really proud that I even finished (in 4:40). I run five miles daily, plus a long run of eight to 10 miles on Sunday. It’s hard to find the time but if I don’t, I’m more tired, I need to eat more – it affects me physically and mentally. I appeared on Dancing With the Stars this year and made it to week eight of 10 with no dance experience. -
Bloomberg Briefs
Wednesday June 8, 2016 www.bloombergbriefs.com MedMen Seeks $100 Million for Marijuana Investments QUOTED BY AINSLIE CHANDLER, BLOOMBERG BRIEF Medical cannabis management company MedMen is raising its first institutional fund "This is the toughest decision- as it tries to capitalize on investors' interest in legal marijuana enterprises. making environment that I MedMen is trying to raise $100 million for MedMen Opportunity Fund, according to think we have ever been in.... firm founder and Chief Executive Adam Bierman. Yesterday, JPMorgan comes MedMen, founded in 2009, previously acted as a management company for out and they say there is a 36 businesses with medical marijuana licenses. It also invested money from family offices and venture funds in special purpose vehicles where the investors held the cannabis percent chance of a licenses, Bierman said in a May 26 interview. recession. As a CIO or head Existing investors pushed the firm to raise a fund to allow for greater diversification in of private equity, what do you their portfolios, he said. do with that?" “If you are a multi-billion dollar family office or an institutional quality investor, you are — Glenn Youngkin, President and COO of not making one-off investments in the $3 million to $5 million range with single-asset Carlyle Group, at a conference June 7 exposure in a market that is complicated from a regulatory environment,” Bierman said. The Los Angeles-based firm held a first close on the WEEK IN NUMBERS fund in May and hopes to have a final close within six months, Bierman said. $13.5 billion — Extra return MedMen The fund will invest in cannabis-related projects, he Calstrs calculates it earned from its said. -
Game-Tech-Whitepaper
Type & Color October, 2020 INSIGHTS Game Tech How Technology is Transforming Gaming, Esports and Online Gambling Elena Marcus, Partner Sean Tucker, Partner Jonathan Weibrecht,AGC Partners Partner TableType of& ContentsColor 1 Game Tech Defined & Market Overview 2 Game Development Tools Landscape & Segment Overview 3 Online Gambling & Esports Landscape & Segment Overview 4 Public Comps & Investment Trends 5 Appendix a) Game Tech M&A Activity 2015 to 2020 YTD b) Game Tech Private Placement Activity 2015 to 2020 YTD c) AGC Update AGCAGC Partners Partners 2 ExecutiveType & Color Summary During the COVID-19 pandemic, as people are self-isolating and socially distancing, online and mobile entertainment is booming: gaming, esports, and online gambling . According to Newzoo, the global games market is expected to reach $159B in revenue in 2020, up 9.3% versus 5.3% growth in 2019, a substantial acceleration for a market this large. Mobile gaming continues to grow at an even faster pace and is expected to reach $77B in 2020, up 13.3% YoY . According to Research and Markets, the global online gambling market is expected to grow to $66 billion in 2020, an increase of 13.2% vs. 2019 spurred by the COVID-19 crisis . Esports is projected to generate $974M of revenue globally in 2020 according to Newzoo. This represents an increase of 2.5% vs. 2019. Growth was muted by the cancellation of live events; however, the explosion in online engagement bodes well for the future Tectonic shifts in technology and continued innovation have enabled access to personalized digital content anywhere . Gaming and entertainment technologies has experienced amazing advances in the past few years with billions of dollars invested in virtual and augmented reality, 3D computer graphics, GPU and CPU processing power, and real time immersive experiences Numerous disruptors are shaking up the market .