DOCSLIB.ORG

Pitchbook Last Updated: 31-Mar-2021 Pbid: 57227-95

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Pitchbook Last Updated: 31-Mar-2021 Pbid: 57227-95 Generated by PitchBook Last Updated: 31-Mar-2021 pbId: 57227-95 Robinhood (NAS) | Private Company Profile Highlights PitchBook Analyst Coverage Employees 2345 As of 30-Mar-2021 Last Deal Details New Vertical Entered by Investor Undisclosed Mobile IPO 23-Mar-2021 As of 01-Feb-2021 Post Valuation Total Raised to Date $11.87B $5.58B As of 01-Oct-2020 As of 23-Mar-2021 Valuation Step-up 1.29x Series F - Series G General Information Description Operator of an investment platform intended to democratize finance for all. The company's platform offers commission-free trading in stocks, ETFs, options, and cryptocurrencies as well as margins, thereby enabling users to stay informed and conveniently invest in the stock market from their phones or computers. Most Recent Financing Status (as of 30-Mar-2021) The company confidentially filed to go public on the Nasdaq stock exchange on March 23, 2021. Goldman Sachs will lead the offering. Previously, an undisclosed investor sold a stake in the company to London Impact Ventures for $10 million. Prior to that, the company raised $3.4 billion of venture funding through a combination of convertible debt and equity in a deal led by Ribbit Capital on February 1, 2021. Sequoia Capital and 9 other investors also participated in the round. The funds will be used to cover a surge in collateral requirements stemming from the trading boom and to support the new accounts users opened. Previously, the company received $600 million of debt financing in the form of a line of credit from The Goldman Sachs Group and J.P. Morgan on October 29, 2020. Prior to that, the company raised $668.3 million of Series G venture funding from Andreessen Horowitz, Ribbit Capital, and DST Global on October 1, 2020, putting the company's pre-money valuation at $11.2 billion. 17 other investors also participated in the round. Entity Types Private Company Year Founded 2013 Acquirer Universes Debt Financed, Venture Capital Website www.robinhood.com Employees 2,345 Legal Name Robinhood Markets, Inc. Business Status Generating Revenue Ownership Status In IPO Registration Financing Status Venture Capital-Backed 1 Industries, Verticals & Keywords Primary Industry Verticals Keywords Brokerage FinTech options brokerage Mobile crypto assets trading Other Industries online trading application Financial Software crypto investment platform Other Financial Services trading platform stock trading Appears in PitchBook Analyst Market Map Q4 2020 Fintech Q2 2020 - Fintech Q2 2020 - Fintech - Wealthtech 603 Companies | Robert Le 508 Companies | Robert Le 44 Companies | Robert Le Q1 2020 - FinTech 463 Companies | Robert Le What PitchBook Analysts Say "Financial infrastructure and data aggregator fintech companies are becoming attractive M&A candidates as acquirers seek to own larger parts of the financial services value chain." Q2 2020 Emerging Tech Research: Fintech | 06-Aug-2020 | Robert Le | FinTech Contact Information Primary Contact Primary Office Baiju Bhatt 85 Willow Street Co-Founder & Board Member Menlo Park, CA 94025 Phone: +1 (650) 940-2700 United States Phone: +1 (650) 940-2700 [email protected] Alternate Offices Denver Lake Mary Denver, CO Lake Mary, FL United States United States [email protected] [email protected] London New York 100 New Bridge Street New York, NY London United States England, United Kingdom [email protected] [email protected] 2 Seattle Southlake Seattle, WA Southlake, TX United States United States [email protected] [email protected] Tempe Westlake Tempe, AZ Westlake, TX United States United States [email protected] [email protected] Top 5 Similar Companies # Name Competitor Financing HQ Location Primary Industry Year Last Financing Employee Status Founded Date/Type Count 1 Tastyworks Venture Chicago, IL Financial Software 2017 2017/Early Stage VC 63 Capital- Backed 2 Stockpile Venture San Brokerage 2010 2ndary - Private 42 Capital- Francisco, Backed CA 3 Bitstamp Formerly London, Financial Software 2011 2018/M&A 197 VC-backed United Kingdom 4 Kraken Venture San Financial Software 2011 164 Capital- Francisco, Backed CA 5 Gemini Venture New York, Financial Software 2014 2015/Early Stage VC 431 Capital- NY Backed Comparisons Robinhood Description Operator of an investment platform intended to democratize finance for all. Primary Industry Brokerage HQ Location Menlo Park, CA Employees 2345 | 2021 Total Raised $5.58B Post Valuation $11.87B E | 30-Sep-2020 Last Financing Details Undisclosed amount | 2021/IPO Market Cap - Stock Price - E Estimated 3 Current Team (13) Name Title Board Office Phone Email Seats Vladimir Tenev Co-Founder, Chief 1 Menlo Park, CA +1 (650) 940-2700 Ph.D Executive Officer & Board Member David Dusseault President & Co-Chief Menlo Park, CA +1 (650) 940-2700 [email protected] Operating Officer James Swartwout President & Co-Chief Menlo Park, CA +1 (650) 940-2700 [email protected] Operating Officer Jason Warnick Chief Financial Officer Menlo Park, CA +1 (650) 940-2700 [email protected] Gretchen Howard Co-Chief Operating Menlo Park, CA +1 (650) 940-2700 [email protected] Officer Norm Ashkenas Chief Compliance Menlo Park, CA +1 (650) 940-2700 JD Officer (Robinhood Financial) Christina Smedley Chief Marketing Officer Menlo Park, CA +1 (650) 940-2700 [email protected] Marcelo Modica Chief People Officer 1 Menlo Park, CA +1 (650) 940-2700 Aparna Chief Product Officer Menlo Park, CA +1 (650) 940-2700 [email protected] Chennapragada Caleb Sima Chief Security Officer Menlo Park, CA +1 (650) 940-2700 [email protected] Baiju Bhatt Co-Founder & Board 1 Menlo Park, CA +1 (650) 940-2700 Member Miles Wellesley Vice President of Menlo Park, CA +1 (650) 940-2700 [email protected] Business Development Daniel Gallagher Chief Legal Officer 1 Menlo Park, CA Current Board Members (5) Name Title Representing Role Since Phone Email Baiju Bhatt Co-Founder & Board Robinhood Co- Jan +1 (650) Member Founder 2013 940- & Board 2700 Member 4 Jan Hammer General Partner Index Ventures Board Dec +44 [email protected] Member 2013 (0)20 7154 2020 Scott Sandell Managing General New Enterprise Board Aug +1 (650) [email protected] Partner Associates Member 2016 332- 2151 Vanessa Larco Board Observer Board +1 (650) [email protected] Observer 854- 9499 Vladimir Tenev Co-Founder, Chief Robinhood Co- Jan +1 (650) Ph.D Executive Officer & Founder, 2013 940- Board Member Chief 2700 Executive Officer & Board Member Deal History (14) # Deal Type Date Amount Raised to Pre-Val Post-Val Status Stage Date 14. IPO 23-Mar-2021 $5.58B Announced Generating Revenue 13. Secondary $10.00M $5.58B Completed Generating Transaction - Private Revenue 12. Later Stage VC 01-Feb-2021 $3.40B $5.58B Completed Generating Revenue 11. Debt - General 29-Oct-2020 $2.18B Completed Generating Revenue 10. Later Stage VC 01-Oct-2020 $668.30M $2.18B $11.20B $11.87B Completed Generating (Series G) Revenue 9. Later Stage VC 13-Jul-2020 $600.00M $1.51B $8.08B $8.68B Completed Generating (Series F) Revenue 8. Secondary $911.93M Completed Generating Transaction - Private Revenue 7. Later Stage VC 31-Oct-2019 $373.00M $911.93M $7.23B $7.60B Completed Generating (Series E) Revenue 6. Later Stage VC 10-May-2018 $362.93M $538.93M $5.24B $5.60B Completed Generating (Series D) Revenue 5. Later Stage VC 26-Apr-2017 $110.00M $176.00M $1.19B $1.30B Completed Generating (Series C) Revenue 4. Early Stage VC 07-May-2015 $50.00M $66.00M $200.00M $250.00M Completed Generating (Series B) Revenue 3. Early Stage VC 23-Sep-2014 $13.00M $16.00M $48.50M $61.50M Completed Generating (Series A) Revenue 2. Seed Round 18-Dec-2013 $3.00M $3.00M Completed Startup 1. Seed Round Completed Startup † Indicates an Add-On E Estimated 5 CAP TABLE HISTORY (as of 01-Oct-2020) Stock # Of Shares Par Value Original Issue Liquidation Liquidation Pref. Conversion % Authorized Price Multiple Price Owned Series 44,406,442 $0.000100 $15.50 $15.50 1x $15.50 5.63% G Series 48,000,000 $0.000100 $12.50 $12.50 1x $12.50 6.27% F Series 29,887,357 $0.000100 $12.48 $12.48 1x $12.48 3.90% E Series 35,774,761 $0.000100 $10.15 $10.15 1x $10.15 4.67% D Series 43,788,180 $0.000100 $2.51 $2.51 1x $2.51 5.72% C Series 80,263,020 $0.000100 $0.64 $0.64 1x $0.64 10.48% B Series 131,913,460 $0.000100 $0.20 $0.20 1x $0.20 17.23% A Series Terms for: A, B, C, D, E, F, G (as of 01-Oct-2020) Liquidation Preferences Pari Passu Anti-dilution Provisions Weighted Participating vs. Non-participating Non-participating Average Dividend Rights Yes Board Voting Rights Yes General Voting Rights Yes Deal #14: IPO, Announced/In Progress; 23-Mar-2021 Deal Types IPO Financing Venture Capital- CEO/Lead Mgt Vladimir Tenev Deal Status Announced/In Progress Status Backed Ph.D Deal Date 23-Mar-2021 Financing Public Investment Site Menlo Park, CA Source Announced Date 23-Mar-2021 Business Generating Raised to Date $5.58B ** Status Revenue Deal Synopsis The company confidentially filed to go public on the Nasdaq stock exchange on March 23, 2021. Goldman Sachs will lead the offering. ‡ Not necessarily a summation of individual debt figures ** Does not include grant funding E Estimated Advisors (1) # Advisor Name Service Type Hired By Comments 1. The Goldman Sachs Group Underwriter Robinhood Lead Provider IPO Information 6 Original Registration Date 23-Mar-2021 Current Registration Status In Registration Current Registration Status 23-Mar-2021 Date Exchange NASDAQ Financials Financials - TTM Dec 2020 All Financials in Thousands, USD Income Statement Ratios Data Origination Total Revenue 1,000,000 EBITDA Margin 1.00% Original Yes Revenue % Growth 1,011.11% Calculated Yes Deal #13: Secondary Transaction - Private, $10M, Completed Deal Types Secondary Transaction - Financing Venture Capital- CEO/Lead Mgt Vladimir Tenev Private Status Backed Ph.D Deal $10.00M Financing Venture Capital Business Generating Amount Source Status Revenue Deal Status Completed Raised to Date $5.58B ** Deal Synopsis An undisclosed investor sold a stake in the company to London Impact Ventures for $10 million.
Load more

Recommended publications
  • Weekly Internet / Digital Media / Saas Sector Summary
    Weekly Internet / Digital Media / SaaS Sector Summary Week of February 2nd, 2015 Industry Stock Market Valuation Internet / Digital Media / SaaS Last 12 Months Last 3 Months 115 150 10.3% 9.4% 130 29.8% 105 4.9% 17.0% 12.9% 0.8% 110 8.3% (1.1%) 7.0% (2.1%) 0.5% 0.1% (4.1%) 95 (5.9%) (6.4%) (7.2%) 90 (9.3%) 70 85 2/3/14 3/27/14 5/18/14 7/9/14 8/30/14 10/21/14 12/12/14 2/2/15 11/3/14 11/16/14 11/29/14 12/12/14 12/25/14 1/7/15 1/20/15 2/2/15 (1) (2) (3) (4) Search / Online Advertising Internet Commerce Internet Content Publishers (5) (6) (7) (8) NASDAQ Diversified Marketing Media Conglomerates Gaming SaaS Notes: 1) Search/Online Advertising Composite includes: BCOR, BLNX-GB, CRTO, GOOG, FUEL, MCHX, MM, MRIN, MSFT, QNST, RLOC, RUBI, TRMR, TUBE, TWTR, YHOO, YNDX, YUME. 2) Internet Commerce Composite includes: AMZN, AWAY, BABA, CMPR, COUP, CPRT, DRIV, EBAY, EXPE, FLWS, LINTA, NFLX, NILE, OPEN, OSTK, PCLN, PRSS, SSTK, STMP, TZOO, ZU. 3) Internet Content Composite includes: AOL, CRCM, DHX, DMD, EHTH, IACI, 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, VCI, WPP-GB. 6) Media Conglomerates Composite includes: CBS, CMCSA, DIS, DISCA, LGF, SNE, TWX, VIA.B.
    [Show full text]
  • Quarterly Insurtech Briefing Q3 2019 October 2019
    Quarterly InsurTech Briefing Q3 2019 October 2019 Quarterly InsurTech Briefing Q3 2019 Dr. Andrew Johnston results for companies and consumers alike is enormous. Global Head of Willis Re InsurTech, InsurTech, however, denotes something more nuanced. Quarterly Briefing Editor If we were to put the 2,500 or so current “InsurTech” vendors in our universe under the more accurate definitional microscope of “the use of technology designed to squeeze out savings and efficiencies from an existing insurance model,” then many would not meet the definition’s requirements. A lot of “InsurTech” firms purport to do it, but most do not in reality. What we will need to be conscious of as an industry is becoming Foreword jaded and frustrated with technology more generally if InsurTech (as we know it) ultimately does not deliver a scalable return; appropriate technology’s fundamental Uni·corn /yü-n-krn/ • n. (pl. - unicorns) a mythical animal role is pivotal to our success. What we must therefore typically represented as a horse with a single straight horn understand is that InsurTech as it is today is as much about projecting from its forehead. hype and entrepreneurial culture as it is about appropriate technology for the (re)insurance industry. At what point does “a group of unicorns” become an Technology more broadly may well be the protector of our oxymoron? industry as we stave off the threat of big lifestyle branded firms like Google and Amazon. Such companies have been Being as they are mythical creatures, it’s always been a bit largely built on technology, and might one day come into puzzling that unicorns are symbolic of things that are rare our industry and be truly disruptive, but a part of self- in the real world.
    [Show full text]
  • Outsell's Fintech Rankings
    OUTSELL’S FINTECH RANKINGS: IDENTIFYING THE WINNERS AND THOSE AT RISK MARKET PERFORMANCE REPORT December 15, 2016 WHO’S INSIDE: Betterment itBit Palantir Technologies WealthFront Chain Kensho Technologies Quandl Digital Asset Holdings LearnVest R3 CEV DISCERN Motif Symbiont 2 Contents Why This Topic 3 Methodology 3 Market Landscape 4 Key Players 5 Investment Criteria 15 FinTech Ranking 19 Scoring Criteria 19 Five Highest Scorers: Profiles 20 Five Lowest Scorers: Profiles 23 Key Trends and Market Drivers 26 Potential Market Challenges 27 Essential Actions 29 Related Research 31 Tables Table 1. Types of Venture Capital Financing 4 Table 2: Data Analytics/AI/Investment Discovery 5 Table 3: Blockchain 8 Table 4: Robo Financial Advisory 11 ADVANCING THE BUSINESS OF INFORMATION 3 Why This Topic Financial technology, or fintech, received nearly $15 billion in venture capital (VC) and corporate investments globally in 2015. That’s roughly double what it was in 2014. Funding momentum, however, has slowed down, particularly in the UK and US. Starting in Q3 2016, uncertainties surrounding Brexit and the US presidential election contributed to the slow down. Potential changes in employment laws brought upon by Trump’s win and Brexit could further impede fintech growth in 2017. The key areas of fintech development that this report covers include advanced data analytics/artificial intelligence (AI), the blockchain, and robo financial advisory. Despite recent political setbacks, the economy remains robust heading into 2017. Thus, fintech development is likely to regain steam once the legislative dust settles — prompting the importance of better understanding how this market could present new opportunities. The implications on the greater information industry from these three areas of innovation are significant in that the volume of non-financial services data now consumed by the financial services industry continues to increase in support of financial data analytics and advisory engines.
    [Show full text]
  • Start-Up Space Rising Investment in Commercial Space Ventures
    Start-Up Space Rising Investment in Commercial Space Ventures January 2016 About the Tauri Group: The Tauri Group Space and Technology Practice applies deep knowledge in the global space and satellite sectors to the needs of government and commercial clients. Many of the existing, authoritative data sets characterizing the space industry and sub-segments were originated by The Tauri Group or by Tauri analysts. The Tauri Group provides official launch industry data to the FAA Office of Commercial Space Transportation; assesses technology investments for NASA; delivers industry analysis and acquisition support for the Department of Defense; and provides market, investment, strategic, and technology analysis for leading aerospace organizations around the world. Contents Executive Summary . iii Introduction . 1 Purpose and Background . 1 Methodology . 2 Overview of Start-Up Space Ventures. 4 Overview of Space Investors .......................6 Space Investment by the Numbers ................12 Space Investors by the Numbers ..................17 Overall . 17 Angels . 19 Venture Capital Firms . 23 Private Equity Groups . 29 Corporations . 31 Banks and Other Financial Institutions . 34 Investor Motivations ............................35 The State of Investment in Start-Up Space . 35 Why Has Venture Investment in Space Increased? . 35 What Motivates Individual Investors? . 36 What Does an Investor Look for in a Venture? . 38 Most Challenging Element of a Space Investment .. 39 Future Outlook and NASA Role ...................40 Future Outlook . 40 NASA Role in the Future . 42 Acknowledgements .............................45 3 Executive Summary tart-Up Space examines space investment in the 21st century and analyzes Sinvestment trends, focusing on investors in new companies that have acquired private financing. Space is attracting increased attention in Silicon Valley and in investment communities world-wide .
    [Show full text]
  • Playing with Virtual Reality: Early Adopters of Commercial Immersive Technology
    Playing with Virtual Reality: Early Adopters of Commercial Immersive Technology Maxwell Foxman Submitted in partial fulfillment of the requirements for the degree of Doctor of Philosophy under the Executive Committee of the Graduate School of Arts and Sciences COLUMBIA UNIVERSITY 2018 © 2018 Maxwell Foxman All rights reserved ABSTRACT Playing with Virtual Reality: Early Adopters of Commercial Immersive Technology Maxwell Foxman This dissertation examines early adopters of mass-marketed Virtual Reality (VR), as well as other immersive technologies, and the playful processes by which they incorporate the devices into their lives within New York City. Starting in 2016, relatively inexpensive head-mounted displays (HMDs) were manufactured and distributed by leaders in the game and information technology industries. However, even before these releases, developers and content creators were testing the devices through “development kits.” These de facto early adopters, who are distinctly commercially-oriented, acted as a launching point for the dissertation to scrutinize how, why and in what ways digital technologies spread to the wider public. Taking a multimethod approach that combines semi-structured interviews, two years of participant observation, media discourse analysis and autoethnography, the dissertation details a moment in the diffusion of an innovation and how publicity, social forces and industry influence adoption. This includes studying the media ecosystem which promotes and sustains VR, the role of New York City in framing opportunities and barriers for new users, and a description of meetups as important communities where devotees congregate. With Game Studies as a backdrop for analysis, the dissertation posits that the blurry relationship between labor and play held by most enthusiasts sustains the process of VR adoption.
    [Show full text]
  • E-Lit: What Is It? Revised & Expanded UCLA Edition, V2.01, 10.3.17, 3:15
    E-Lit: What Is It? Revised & Expanded UCLA Edition, v2.01, 10.3.17, 3:15-3:45pm UCLA ELIT 624206 800124 5 E-Lit: What is it? v2.01 October 3, 2017 By UCLA E-LIT 2017 For updates, Follow us on Instagram @uclaelit Electronic Literature: What Is It? V.01 N. Katherine Hayles (UCLA) http://eliterature.org/pad/elp.html Suzy Menazza: “What we have is 200 pages of incomprehensible nonsense” — that’s how UNFCCC Executive Secretary Yvo De Boer commented on the status oF the negotiations early this week during a meeting with NGO representatives here in Bonn, which included The Nature Conservancy. De Boer was reFerring to the new negotiating text For an international climate agreement, which includes a document drafted by the chair of the proceedings back in spring with additions submitted in June by the 192 countries discussing this new agreement. The result is a 199-page-long (and almost unmanageable) document — a combination oF old text, “new paragraphs or subparagraphs,” “alternatives to the original paragraphs” and “special cases” that comprise more than 2,000 brackets and are challenging even the most experienced delegates. Contents 1. Abstract 2. An abstract is a brieF summary oF a research article, thesis, review, conference proceeding, or any in- depth analysis of a particular subject and is often used to help the reader quickly ascertain the paper's purpose.[1] When used, an abstract always appears at the beginning of a manuscript or typescript, acting as the point-of-entry For any given academic paper or patent application.
    [Show full text]
  • Weekly Internet / Digital Media / Saas Sector Summary
    Weekly Internet / Digital Media / SaaS Sector Summary Week of January 19th, 2015 Industry Stock Market Valuation Internet / Digital Media / SaaS Last 12 Months Last 3 Months 125 130 16.8% 13.3% 115 110 9.7% 7.5% 13.1% 9.6% (2.0%) 8.2% (2.4%) 7.8% 7.4% 5.2% 90 (10.7%) 105 (11.7%) 3.1% (12.2%) 2.7% 1.6% 70 95 1/20/14 3/13/14 5/4/14 6/25/14 8/16/14 10/7/14 11/28/14 1/19/15 10/20/14 11/2/14 11/15/14 11/28/14 12/11/14 12/24/14 1/6/15 1/19/15 (1) (2) (3) (4) Search / Online Advertising Internet Commerce Internet Content Publishers (5) (6) (7) (8) NASDAQ Diversified Marketing Media Conglomerates Gaming SaaS Notes: 1) Search/Online Advertising Composite includes: BCOR, BLNX-GB, CRTO, GOOG, FUEL, MCHX, MM, MRIN, MSFT, QNST, RLOC, RUBI, TRMR, TUBE, TWTR, YHOO, YNDX, YUME. 2) Internet Commerce Composite includes: AMZN, AWAY, BABA, CMPR, COUP, CPRT, DRIV, EBAY, EXPE, FLWS, LINTA, NFLX, NILE, OPEN, OSTK, PCLN, PRSS, SSTK, STMP, TZOO, ZU. 3) Internet Content Composite includes: AOL, CRCM, DHX, DMD, EHTH, IACI, 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, VCI, WPP-GB. 6) Media Conglomerates Composite includes: CBS, CMCSA, DIS, DISCA, LGF, SNE, TWX, VIA.B.
    [Show full text]
  • Venture Capital in the Newspace Economy
    VENTURE CAPITAL IN THE NEWSPACE ECONOMY Global trends and facts SIMONE SPINELLI Intern – Space Industry and R&D Collaborations, Defence SA Università Commerciale Luigi Bocconi Nicola Sasanelli (Supervisor) Director – Space Industry and R&D Collaborations, Defence SA Government of South Australia May 2017 ‘This report has been reviewed by Mr Michael Davis (Space Industry Association of Australia), Ms Flavia Tata Nardini (Fleet Space Technologies) and Mr Jeff Kasparian (KasComm Pty Ltd).’ Venture Capital in the NewSpace Economy 1 Venture Capital in the NewSpace Economy Disclaimer While every effort has been made to ensure the accuracy of the information contained in this report, the conclusions and the recommendations included in it constitute the opinions of the authors and should not be taken as representative of the views of Defence SA and the South Australian Government. No warranty, express or implied is made regarding the accuracy, adequacy, completeness, reliability or usefulness of the whole or any part of the information contained in this document. You should seek your own independent expert advice and make your own enquiries and satisfy yourself of all aspects of the information contained in this document. Any use or reliance on any of information contained in this document is at your own risk in all things. The Government of South Australia and its servants and its agents disclaim all liability and responsibility (including for negligence) for any direct or indirect loss or damage which may be suffered by any person through using or relying on any of the information contained in this document. Any liability of the Government of South Australia, its servants or its agents in any way connected with the information contained in this document, whether or not such liability results from or involves negligence, will not exceed $100.00.
    [Show full text]
  • The Business of Venture Capital
    SECOND EDITION 80+ Customer Ratings on Amazon with over 50 Five-Star reviews “The Business of Venture Capital is a comprehensive book with data, industry trends, and insights from leading VCs and LPs – a must have for practitioners.” —David York, Managing Director, Top Tier Capital Partners, a Fund-of-Funds with over $2 billion under management “Whether you are a practitioner or a student of the venture capital industry, this book offers innumerable insights into the art of the deal.” —Scott Kupor, Managing Partner, Andreessen Horowitz “A valuable resource for beginners and experts alike, The Business of Venture Capital addresses the complexities and chal- lenges of being a successful venture capitalist.” —Michael Kim, Managing Partner, Cendana Capital, a next generation Fund-of-Funds “Mahendra’s research into today’s most active investors reveals how the Venture Capital model is evolving. It’s the closest book I’ve found to a User’s Manual for VCs.” —David Cowan, Bessemer Venture Partners “Combines concrete examples and deep insights of industry leaders – a must-have for any venture investor or practitioner.” —Karim Faris, General Partner, Google Ventures “Mahendra demonstrates how skill, discipline, and often luck and intuition can help to create successful venture capitalists. This is engaging and enjoyable.” —Jon Callaghan, True Ventures “Detailed yet accessible description of the many facets of ven- ture capital – from the nuanced considerations of LPs to the intricate mechanics of the entrepreneurial companies they bet on.” —Amish Jani, Founder and Managing Director, FirstMark Capital FIRST EDITION “If you read only one guide to becoming a successful VC, this is the one to read.” —Paul Maeder, Chairman, National Venture Capital Association (NVCA) “Captures the LP mindset succinctly – any GP or aspiring VC can benefit from this book.” —Timothy Recker, Chairman, Institutional Limited Partners Association (ILPA) “..
    [Show full text]
  • Michael B. Rothenberg (“Respondent”)
    UNITED STATES OF AMERICA Before the SECURITIES AND EXCHANGE COMMISSION INVESTMENT ADVISERS ACT OF 1940 Release No. 5058 / October 19, 2018 ADMINISTRATIVE PROCEEDING File No. 3-18871 ORDER INSTITUTING In the Matter of ADMINISTRATIVE PROCEEDINGS PURSUANT TO SECTION 203(f) OF THE MICHAEL B. INVESTMENT ADVISERS ACT OF 1940, ROTHENBERG, MAKING FINDINGS, AND IMPOSING REMEDIAL SANCTIONS Respondent. I. The Securities and Exchange Commission (“Commission”) deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 203(f) of the Investment Advisers Act of 1940 (“Advisers Act”) against Michael B. Rothenberg (“Respondent”). II. In anticipation of the institution of these proceedings, Respondent has submitted an Offer of Settlement (the “Offer”) which the Commission has determined to accept. Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission, or to which the Commission is a party, and without admitting or denying the findings herein, except as to the Commission’s jurisdiction over him and the subject matter of these proceedings and the findings contained in paragraph III.2. below, which are admitted, Respondent consents to the entry of this Order Instituting Administrative Proceedings Pursuant to Section 203(f) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions (“Order”), as set forth below. III. On the basis of this Order and Respondent’s Offer, the Commission finds1 that 1. Rothenberg is the founder, manager, owner, and operator of Rothenberg Ventures LLC (“Rothenberg Ventures”). Rothenberg Ventures reports to the Commission as an “exempt reporting adviser” under Section 204(a) of the Investment Advisers Act and Rule 204-4 thereunder, and serves as an adviser to a number of venture capital funds.
    [Show full text]
  • Private Equity, Charts from Preqin Show a Steady Decline in Returns with PE Heavyweights Concurring Here6, Here7, and Here8
    Alpine II: The Triumph of Confusion and Fear April 26, 2016 “Size is the enemy of performance” “Mo Money, Mo Problems” - David Swensen - Notorious BIG I am an optimist. It helps to be one in sales, as rejection and cynicism is high, with low hit rates and binary outcomes. But during the mid-to late 90’s, two troubling phenomena began. The first you may not agree with or even care about, but it offers a parable to the second which is probably something you often think about. I believe that over the last 20 years, the quality and appreciation of music has declined. Particularly unsettling as music, more specifically rock music, defined my youth. Familiar culprits, money (record companies controlling distribution and focusing on immediate hits over artist development) and technology (mp3s/streaming and algo-driven radio stations), transformed the industry leading to a rise in production and consumption of music (quantity) with adverse effects lasting to this day (quality). Few albums in the last 15 years have been added to critics’ all-time lists1. Hundreds of record labels and music publications folded. Album sales sank and in 2012, records from old artists actually outsold contemporary ones2. Younger people go to fewer concerts than they did 10 years ago3 and many of the most popular tours are from artists from the 60’s - 80’s. Even scientists using artificial intelligence, discovered that modern music is louder and less original than music from decades past4. But probably most disturbing is that fewer people choose to play, study or work in music as instruction, employment, and instrument sales5 have declined.
    [Show full text]
  • Unicorns 2017
    Unicorns 2017 https://www.cbinsights.com/research-unicorn-companies?utm_source=Facebook&utm_medium=Paid&utm_campaign=Unicorn%20Club Valuation Company Date Joined Country Industry ($B) Uber $ 68.00 8/23/2013 United States On-Demand 1 Didi Chuxing $ 50.00 12/31/2014 China On-Demand 2 Xiaomi $ 46.00 12/21/2011 China Hardware 3 Airbnb $ 29.30 7/26/2011 United States eCommerce/Marketplace 4 SpaceX $ 21.20 12/1/2012 United States Other Transportation 5 Palantir $ 20.00 5/5/2011 United States Big Data 6 Technologies WeWork $ 20.00 2/3/2014 United States Facilities 7 Lu.com $ 18.50 12/26/2014 China Fintech 8 China Internet Plus $ 18.00 12/22/2015 China eCommerce/Marketplace 9 Holding Pinterest $ 12.30 5/19/2012 United States Social 10 Flipkart $ 11.60 8/6/2012 India eCommerce/Marketplace 11 Toutiao $ 11.00 4/7/2017 China Digital Media 12 Internet Software & Dropbox $ 10.00 10/5/2011 United States 13 Services Internet Software & Infor $ 10.00 11/16/2016 United States 14 Services DJI Innovations $ 10.00 5/6/2015 China Hardware 15 Stripe $ 9.20 1/23/2014 United States Fintech 16 Internet Software & Spotify $ 8.53 6/17/2011 Sweden 17 Services Snapdeal $ 7.00 5/21/2014 India eCommerce/Marketplace 18 Lyft $ 6.90 3/12/2015 United States On-Demand 19 Lianjia $ 6.20 4/8/2016 China eCommerce/Marketplace 20 United Computer Hardware & Global Switch $ 6.02 12/22/2016 21 Kingdom Services GrabTaxi $ 6.00 12/4/2014 Singapore On-Demand 22 One97 $ 5.70 5/12/2015 India Fintech 23 Communications Vice Media $ 5.70 8/17/2013 United States Media 24 Intarcia Therapeutics
    [Show full text]