Merger Proxy Statement

Total Page:16

File Type:pdf, Size:1020Kb

Merger Proxy Statement Slack Technologies, Inc. 500 Howard Street San Francisco, California 94105 LETTER TO STOCKHOLDERS OF SLACK TECHNOLOGIES, INC. Dear Slack Stockholder: On December 1, 2020, Slack Technologies, Inc. (which we refer to as “Slack” or the “Company”) entered into an Agreement and Plan of Merger (which, as it may be amended from time to time, we refer to as the “merger agreement”) with salesforce.com, inc. (which we refer to as “Salesforce”), Skyline Strategies I Inc. (which we refer to as “Merger Sub I”), and Skyline Strategies II LLC (which we refer to as “Merger Sub II”). The merger agreement provides for the merger of Merger Sub I with and into Slack, with Slack continuing as the surviving corporation (which we refer to as the “first merger”), immediately followed by a second merger of the surviving corporation into either Merger Sub II or Salesforce, with either Merger Sub II or Salesforce continuing as the surviving company, as applicable (which we refer to as the “second merger” and together with the first merger, the “mergers”). Slack stockholders as of the close of business on the record date are invited to virtually attend a special meeting of Slack stockholders on March 2, 2021, at 10:00 a.m. Pacific Time, to consider and vote upon a proposal to adopt the merger agreement and approve the transactions contemplated thereby, a non-binding advisory proposal to approve certain compensation that may be paid or become payable to Slack’s named executive officers that is based on or otherwise relates to the mergers, and a proposal to approve the adjournment of the special meeting, if necessary or appropriate, to solicit additional proxies if there are not sufficient votes at the time of the special meeting to adopt the merger agreement and approve the transactions contemplated thereby. Subject to the terms and conditions of the merger agreement, at the first effective time of the first merger (which we refer to as the “first effective time”), each outstanding share of Slack Class A common stock and Slack Class B common stock (other than shares of Slack common stock owned directly or indirectly by Salesforce, Slack or any of their respective subsidiaries immediately prior to the first effective time, shares of Slack common stock as to which dissenters’ rights have been properly perfected, and shares of Slack common stock covered by Slack restricted share awards) will be converted in the first merger into the right to receive 0.0776 shares of Salesforce common stock and the right to receive $26.79 in cash, without interest (which we refer to as the “merger consideration”). Based on the closing price of Salesforce common stock on November 24, 2020, the last full unaffected trading day before the first published rumor regarding a potential merger transaction, the value of the per share merger consideration payable to holders of Slack common stock upon completion of the first merger was approximately $47.03. Based on the closing price of Salesforce common stock on January 28, 2021, the last practicable date before the date of the proxy statement/prospectus accompanying this notice, the value of the merger consideration payable to holders of Slack common stock upon completion of the first merger was approximately $44.37. Slack stockholders should obtain current stock price quotations for Salesforce common stock and Slack common stock. Salesforce common stock is traded on the New York Stock Exchange under the symbol “CRM,” and Slack common stock is traded on the New York Stock Exchange under the symbol “WORK.” The Slack board of directors has unanimously determined that the merger agreement and the transactions contemplated by the merger agreement, including the mergers, are fair to, and in the best interests of, Slack and its stockholders; has unanimously approved and declared advisable the merger agreement and the transactions contemplated thereby, including the mergers; and unanimously recommends that Slack stockholders vote “FOR” the adoption of the merger agreement and “FOR” the other proposals described in the accompanying proxy statement/prospectus. Slack will hold a virtual special meeting of its stockholders to consider certain matters relating to the mergers. Salesforce and Slack cannot complete the mergers unless, among other things, Slack stockholders adopt the merger agreement and approve the transactions contemplated thereby. Your vote is very important. To ensure your representation at the special meeting, complete and return the applicable enclosed proxy card or submit your proxy by phone or the Internet. Please vote promptly whether or not you expect to virtually attend the special meeting. Submitting a proxy now will not prevent you from being able to vote at the special meeting. The proxy statement/prospectus accompanying this notice is also being delivered to Slack’s stockholders as Salesforce’s prospectus for its offering of shares of Salesforce common stock in connection with the mergers. The obligations of Salesforce and Slack to complete the mergers are subject to the satisfaction or waiver of the conditions set forth in the merger agreement, a copy of which is included as part of the accompanying proxy statement/prospectus. The proxy statement/prospectus provides you with detailed information about the mergers. It also contains or references information about Salesforce and Slack and certain related matters. You are encouraged to read the proxy statement/prospectus carefully and in its entirety. In particular, you should carefully read the section entitled “Risk Factors” for a discussion of risks you should consider in evaluating the mergers and the issuance of shares of Salesforce common stock in connection with the mergers and how they will affect you. Sincerely, Stewart Butterfield Co-Founder, Chief Executive Officer and Chairperson of the Board of Directors Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of the securities to be issued under the accompanying proxy statement/prospectus or passed upon the adequacy or accuracy of the disclosure in this document. Any representation to the contrary is a criminal offense. The proxy statement/prospectus is dated January 29, 2021 and is first being mailed to stockholders of Slack on or about January 29, 2021. Slack Technologies, Inc. 500 Howard Street San Francisco, California 94105 NOTICE OF THE SPECIAL MEETING OF STOCKHOLDERS TO BE HELD VIRTUALLY VIA THE INTERNET ON MARCH 2, 2021 Notice is hereby given that a special meeting of stockholders of Slack Technologies, Inc. (which we refer to as “Slack”) will be held on March 2, 2021 at 10:00 a.m. Pacific Time via a live interactive audio webcast on the Internet (which we refer to as the “Slack special meeting”). You will be able to vote and submit your questions at www.virtualshareholdermeeting.com/WORK2021SM during the meeting. We are holding the special meeting for the following purposes, which are more fully described in the accompanying proxy statement/prospectus: • to adopt the Agreement and Plan of Merger, dated as of December 1, 2020 (which, as it may be amended from time to time, we refer to as the “merger agreement”), among salesforce.com, inc. (which we refer to as “Salesforce”), Skyline Strategies I Inc. (which we refer to as “Merger Sub I”), Skyline Strategies II LLC (which we refer to as “Merger Sub II”) and Slack and approve the transactions contemplated thereby (which we refer to as the “merger proposal”); and • to approve, by a non-binding advisory vote, certain compensation that may be paid or become payable to Slack’s named executive officers that is based on or otherwise relates to the mergers contemplated by the merger agreement (which we refer to as the “non-binding compensation advisory proposal”). Slack stockholder approval of the merger proposal is required to complete the mergers as contemplated by the merger agreement. Slack stockholders will also be asked to approve the non-binding compensation advisory proposal. Slack will transact no other business at the Slack special meeting. The record date for the Slack special meeting has been set as January 25, 2021. Only Slack stockholders of record as of the close of business on such record date are entitled to notice of, and to vote at, the Slack special meeting via the Slack special meeting website or any adjournments and postponements of the Slack special meeting. For additional information regarding the Slack special meeting, see the section entitled “Special Meeting of Slack Stockholders.” The Slack board of directors unanimously recommends that you vote “FOR” the merger proposal and “FOR” the non-binding compensation advisory proposal. The Slack proposals are described in more detail in the accompanying proxy statement/prospectus, which you should read carefully and in its entirety before you vote. A copy of the merger agreement is attached as Annex A to the accompanying proxy statement/prospectus. PLEASE VOTE AS PROMPTLY AS POSSIBLE, WHETHER OR NOT YOU PLAN TO ATTEND THE SLACK SPECIAL MEETING VIA THE SLACK SPECIAL MEETING WEBSITE. IF YOU LATER DESIRE TO REVOKE OR CHANGE YOUR PROXY FOR ANY REASON, YOU MAY DO SO IN THE MANNER DESCRIBED IN THE ACCOMPANYING PROXY STATEMENT/PROSPECTUS. FOR FURTHER INFORMATION CONCERNING THE PROPOSALS BEING VOTED UPON, USE OF THE PROXY AND OTHER RELATED MATTERS, YOU ARE URGED TO READ THE ACCOMPANYING PROXY STATEMENT/PROSPECTUS. Your vote is very important. Approval of the merger proposal by the Slack stockholders is a condition to the mergers and requires the affirmative vote of a majority of the voting power of all issued and outstanding shares of Slack common stock entitled to vote on the proposal. Slack stockholders are requested to complete, date, sign and return the enclosed proxy in the envelope provided, which requires no postage if mailed in the United States, or to submit their votes by phone or the Internet.
Recommended publications
  • Wharton Class of 2002
    Wharton0B Undergraduate Class of 2011 Career19B Plans Survey Report 20U 11U Number of Degrees Awarded 676 Number of Completed Surveys 600 Response20B Rate 88.8% SUMMARY OF POST-GRADUATION PLANS Additional Non-Grad Education Seeking Graduate This report summarizes responses from Graduate School 0.3% School 5.3% 0.2% December 2010 and May/August 2011 Seeking Employment Wharton Bachelor of Science in Part-time Employed 4.2% Other 0.3% Economics degree recipients. 0.5% Short-term Employed 1.2% Even though the national unemployment Self-Employed rate remained stubbornly high during the 2.2% 2010-2011 academic year, the Wharton students fared extremely well in their job and graduate school searches. Most students (89.5%) entered the working world, while another 5.6 pursued further education. The average base salary rose significantly to $66,412, nearly $3,000 Full-time Employed more than the average salary for the Class 85.8% of 2010. JOB FUNCTIONS OF WHARTON GRADUATES The Class of 2011 entered a wide range of job functions upon graduation with investment banking, consulting, sales and trading, investment management and marketing/sales being top areas of interest for our students. Large employers such as Goldman Sachs, Citi, Morgan Stanley, J.P. Morgan, Boston Consulting Group and McKinsey hired the greatest number of Wharton graduates. However, students accepted employment in smaller numbers with a wide range of other employers including Abercrombie & Fitch, Kraft Foods, Google, L’Oreal, Prophet, PepsiCo and Teach for America. Report prepared by Barbara Hewitt, Senior Associate Director, Career Services, University of Pennsylvania, November 2011 METHODOLOGY Students were asked via several e-mail requests during Spring 2011 to complete an online version of the Career Plans Survey.
    [Show full text]
  • Announcing: Finalists Circle for the Prestigious M&A
    GLOBAL MAJOR MARKETS CONGRATULATIONS to all the OUTSTANDING FINALISTS of the YEAR, 2014 ANNUAL AWARDS GALA DINNER June 12, 2014, New YORK, USA. Global M&A Network congratulates the distinguished group of finalists nominees for the one and only, GLOBAL MAJOR MARKETS, M&A ATLAS AWARDS. Prestigious awards exclusively honors excellence from all corners of the globe for executing M&A transactions valued above a billion dollars as always in the categories of: 40 Deal, 7 Outstanding Firm and 4 Global M&A Dealmakers of the Year awards. In a highly competitive process, a total of 185 transactions closed during January 2013 to January 31, 2014 were evaluated. From the pool of 185 deals, 106 deals are included in the finalists list. Eventually, only 40 deals will win at the annual awards gala. Prestige: Winning the M&A ATLAS AWARDS conveys a resounding message that the winner has accomplished the highest performance and excellence standards, worldwide. As always, the winners are selected independently for closing the best value-generating and game- changing transformational transactions based on identifiable criteria such as deal novelty/structure, sector/jurisdiction/market complexities, synergies/rationale/style, financial value, brand competitiveness, leadership, tenacity, resourcefulness and additional related metrics. Winners Circle Celebration: Winners are honored at the awards dinner trophy presentation ceremony held on June 12, 2014 at the Harvard Club of New York. WHAT to DO if you are among the coveted group of distinguished finalists? If you submitted nominations, please confirm your guest attendance for the annual Awards Gala Dinner, held on the evening of June 12, 2014, NY.
    [Show full text]
  • Frank Quattrone Launches Qatalyst
    For Immediate Release Contact: Bob Chlopak (202) 777-3506, (202) 841-2051 (m) Frank Quattrone Launches Qatalyst: New Technology Merchant Banking Boutique Qatalyst Partners to Provide M&A, Corporate Finance Advice; Qatalyst Capital Partners to Make Principal Investments San Francisco, CA., March 18, 2008 -- Frank P. Quattrone announced today that he and some former colleagues are launching a new financial services venture called Qatalyst Group, a technology-focused merchant banking boutique, headquartered in San Francisco, CA. Qatalyst Partners, its investment banking business, will provide high-end merger & acquisition and corporate finance advice to technology companies globally. Qatalyst Capital Partners, its investing business, will make selective principal investments, typically alongside leading venture capital and private equity firms. Qatalyst Partners will provide high quality, independent advice to the senior management teams and boards of the technology industry’s established and emerging leaders on strategic matters crucial to their growth and success. Qatalyst’s advisors will combine a broad network of relationships with deep sector knowledge and seasoned M&A expertise to deliver a superior, senior level of service for clients who value experience, judgment, candor and insight. In addition to merger & acquisition advice, Qatalyst Partners will use its team’s extensive corporate finance and capital markets experience to advise companies on capital structure and capital raising alternatives, and will selectively raise private capital for clients. While it will not engage in public securities research, sales, trading or brokerage, Qatalyst Partners may participate as advisor or underwriter in clients’ public offerings. “The launch of Qatalyst is an important development for the technology industry,” said Eric Schmidt, Chairman and CEO of Google.
    [Show full text]
  • 02-19-20 First Amended Cons. Complaint
    PUBLIC VERSION FILED ON: FEBRUARY 27, 2020 IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE IN RE MINDBODY, INC., CONSOLIDATED STOCKHOLDER LITIGATION C.A. No. 2019-0442-KSJM FIRST AMENDED VERIFIED CONSOLIDATED CLASS ACTION COMPLAINT Lead Plaintiffs Luxor Capital Partners, LP, Luxor Capital Partners Offshore Master Fund, LP, Luxor Wavefront, LP, and Lugard Road Capital Master Fund, LP (collectively, “Lead Plaintiffs” or “Luxor”), by and through their attorneys, bring this verified consolidated class action complaint (the “Consolidated Complaint”) on behalf of themselves and all other similarly situated former stockholders of MINDBODY, Inc. (“Mindbody” or the “Company”) against the defendants named herein, in connection with the sale of Mindbody for $36.50 per share to Vista Equity Partners (“Vista”), pursuant to a merger agreement dated December 23, 2018 (the “Merger Agreement”). Except for allegations specifically pertaining to Lead Plaintiffs and Lead Plaintiffs’ own acts, the allegations in the Consolidated Complaint are based upon information and belief, which includes but is not limited to: (i) Lead Plaintiffs’ analysis of, and communications with, Mindbody management and its Board; (ii) Mindbody’s public filings with the United States Securities and Exchange Commission (the “SEC”); (iii) other publicly available data, including information provided by third party sources; (iv) documents that {FG-W0461423.} Lead Plaintiffs obtained pursuant to Section 220 of the Delaware General Corporation Law; and (v) limited and incomplete document productions in the above-captioned consolidated action. NATURE OF THE CASE 1. This action is brought by Luxor, which owned 18.9% of Mindbody’s outstanding common stock prior to the challenged buyout of Mindbody by Vista (the “Merger”).
    [Show full text]
  • Classes of 2019 and 2020 Hiring Organizations
    HIRING ORGANIZATIONS CLASSES OF 2019 AND 2020 HIRING ORGANIZATIONS RECENT EMPLOYERS The following firms hired at least one UCLA Anderson student during the 2018–2019 school year (combining both full-time employment and summer internships): A Breakwater Investment Edison International Hewlett Packard Enterprise Lionsgate Entertainment Inc . O A G. Spanos Companies Management Education Pioneers Company Lionstone Investments Openpath Security Inc . A+E Television Networks ByteDance Edwards Lifesciences Hines Liquid Stock Oracle Corp . Accenture C Electronic Arts Inc . HomeAway Logitech P ACHS Califia Farms Honda R&D Americas Inc . Pabst Brewing Company Engine Biosciences L’Oreal USA Adobe Systems Inc . Cambridge Associates LLC Honeywell International Inc . Pacific Coast Capital Partners Epson America Inc . Los Angeles Chargers Advisor Group Capital Group Houlihan Lokey Palm Tree LLC Los Angeles Football Club Age of Learning Inc . Capstone Equities Esports One HOVER Inc . Pandora Media M Agoda Caruso EVgo Hulu Paramount Pictures M&T Bank Corporation Altair Engineering Inc . Casa Verde Capital Evolus I Park Lane Investment Bank Alteryx Inc . Cedars-Sinai Health System Experian Illumina Inc . Mailchimp Phoenix Suns Amazon Inc . Cenocore Inc . EY-Parthenon IMAX Marble Capital PIMCO American Airlines Inc . Century Park Capital Partners F InnoVision Solutions Group March Capital Partners Pine Street Group Amgen Inc . Charles Schwab FabFitFun Instacart Marvell Technology Group Ltd . Piper Jaffray & Co . Anaplan Checchi Capital Advisers Facebook Inc . Intel Corporation MarVista Entertainment PlayVS Apple Inc . Cisco Systems Inc . Intuit Inc . Mattel Inc . PLG Ventures Falabella Retail S .A . Applied Ventures The Clorox Company Intuitive Surgical Inc . McKinsey & Company The Pokemon Company Fandango Arc Capital Partners LLC Clutter Inversiones PS Medallia Inc .
    [Show full text]
  • Results Summary Post-Graduate Activities Employment Sectors
    Major: Business Administration Class of 2017 Survey Results The Career Center’s annual Career Destinations Survey of graduating seniors illustrates the variety of employment and graduate school choices made by students in a given major. Fields with four or less responses are not shown to protect the confidentiality of respondents. Employers & Job Titles data includes full-time and part-time employment, and internships. Please note: Students with multiple majors are represented in each major. For example, a double major in English and Computer Science will have responses included in both reports. Department Website: https://haas.berkeley.edu/Undergrad/ Results Summary Graduated Responded Percent 389 273 70% Post-Graduate Activities Employed Attending Grad Seeking Other School Employment 86% 3% 8% 3% Employment Sectors & Average Salary For Profit Nonprofit Education Government Average Salary 97% 1% 1% 1% $77,028 Employer Job Titles 3Q Digital Marketing Associate Abbott Laboratories Finance Professional Dev Program Abbott Laboratories Financial Analyst Accenture Analyst Accenture Analyst Consultant Accenture Consulting Analyst Accenture Strategy Analyst career.berkeley.edu Accenture Technology Analyst Adobe Financial Analyst Adobe Other Aetna Underwriter Alexandria Real Estate Equities Project Manager Analysis Group Analyst Analysis Group Analyst Anheuser Busch InBev Global Management Trainee AnheuserBusch Sales Strategy APEX Maritime 3D Film Production Artist Apple Computer Corporate Finance Development Apple Computer F inance Associate
    [Show full text]
  • Post-Graduation Industry Report
    UNIVERSITY OF PENNSYLVANIA Undergraduate Class of 2020 Post-Graduation Industry Report Consulting Marketing/Advertising/ Healthcare/Life Sciences | Management Consulting | Public Relations Non-Profit/Government Media/Journalism/Entertainment Education Nonprofit Elementary/Secondary Education | Higher Education (including Cultural Institutions/Arts and Cultural Affairs | Research Labs) | Other Public Interest/Advocacy | Social Services Engineering/Manufacturing Pharmaceuticals/Biotechnology Aerospace | Computer Products - Hardware | Electronics/Robotics | Engineering | Manufacturing Real Estate/Construction Financial Services Technology Diversified Financial Services | Hedge Fund | Investment Banking/Brokerage | Investment Management/Counsel | Salaries by Industry Private Equity | Venture Capital Salaries by Job Function Government Federal Government | State/Local Government | Other Signing Bonuses by Industry Healthcare Signing Bonuses by Job Function Community/Public Health Center | Health Maintenance Organization | Hospital | Nursing Home/Long Term Care Facility | Private Practice Methodology Career Services at the University of Pennsylvania annually surveys students about their plans for up to six months following graduation. Of the 2,648 undergraduates who received their degrees from August 2019–May 2020, this report looks at 1,345 who were working full- time within six months of their graduation (74% of the 2,012 total known outcomes, or 56% of the total graduating class), and groups employers by industry in order to look at trends
    [Show full text]
  • Ultimate Guide to M&A: Microsoft + Linkedin Case Study
    Ultimate Guide to M&A: Microsoft + LinkedIn Case Study 1 Table of Contents Ultimate Guide to M&A: Microsoft + LinkedIn Case Study .......................................................................................................... 1 Appendices .................................................................................................................................................................................................. 21 How Buyers Pay in M&A: Cash vs Stock Acquisitions ................................................................................................................................................................ 22 Premiums Paid Analysis in M&A ........................................................................................................................................................................................................... 26 Tender Offer vs. Merger.............................................................................................................................................................................................................................. 31 Asset Sale vs. Stock Sale .............................................................................................................................................................................................................................. 36 Deal Documents: Where to Find Information About M&A Transactions .......................................................................................................................
    [Show full text]
  • Pitchbook's Annual Global League Tables
    Global League Tables 2019 Annual 1 PITCHBOOK 2019 ANNUAL GLOBAL LEAGUE TABLES Contents Credits & Contact PitchBook Data, Inc. Introduction 2 John Gabbert Founder, CEO Adley Bowden Vice President, PE firms 3-11 Market Development & Analysis VC firms 12-19 Content Garrett James Black Senior Advisors/accountants & investment banks 20-25 Manager, Custom Research & Publishing Law firms: VC & PE 26-35 Aria Nikkhoui Data Analyst II Keenan Durham Dataset Team Lead Acquirers 36-38 Kylie Hannus Senior Research Associate Kunal Rai Senior Research Associate Madison Bond Senior Research Associate Johnny Starcevich Research Associate Contact PitchBook Research [email protected] Cover design by Kelilah King Click here for PitchBook’s report methodologies. Introduction For the inaugural edition of Global League Tables in 2020, Once again, thanks to all the survey participants that we are doing something new. In addition to the usual collaborate with our teams; all the mutual hard work rankings provided here, we hope to release an interactive enables more accurate representation of overall private table in the coming weeks, which will hopefully present a markets activity. more user-friendly, immersive experience and avoid any spatial constraints. Garrett James Black However, the customary array of rankings can still be Senior Manager, Custom Research expected, from the breakdown of the most active private & Publishing equity firms by US region to the law firms that advise on the most M&A transactions worldwide. 2 PITCHBOOK 2019 ANNUAL GLOBAL LEAGUE
    [Show full text]
  • Financial Rankings
    GLOBAL M&A MARKET REVIEW FINANCIAL RANKINGS 2016 2016 GLOBAL M&A FINANCIAL ADVISORY RANKINGS The Bloomberg M&A Advisory League Tables are the definitive publication of M&A advisory rankings. The CONTENTS tables represent the top financial and legal advisors across a broad array of deal types, regions, and industry sectors. The rankings data is comprised of mergers, acquisitions, divestitures, spin-offs, debt-for-equity- 1. Introduction swaps, joint ventures, private placements of common equity and convertible securities, and the cash 2. Global M&A Heat Map injection component of recapitalization according to Bloomberg standards. 3. Global M&A Regional Review 4. Global M&A League Tables Bloomberg M&A delivers real-time coverage of the M&A market from nine countries around the world. We 5. Americas M&A Regional Review provide a global perspective and local insight into unique deal structures in various markets through a 6. Americas M&A League Tables network of over 800 financial and legal advisory firms, ensuring an accurate reflection of key market trends. 8. EMEA M&A Regional Review Our quarterly league table rankings are a leading benchmark for legal and financial advisory performance, and our Bloomberg Brief newsletter provides summary highlights of weekly M&A activity and top deal 9. EMEA M&A League Tables trends. 12. APAC M&A Regional Review 13. APAC M&A League Tables Visit {NI LEAG CRL <GO>} to download copies of the final release and a full range of market specific league 16. Disclaimer table results. On the web, visit: http://www.bloomberg.com/professional/solutions/investment-banking/.
    [Show full text]
  • Marcie Vu, Former Head of Consumer Tech Group at Qatalyst, Joined Thredup's Board
    Marcie Vu, former Head of Consumer Tech Group at Qatalyst, Joined thredUP's Board April 28, 2021 Seasoned consumer technology leader brings decades of experience advising and partnering with major consumer Internet platforms OAKLAND, Calif., April 28, 2021 /PRNewswire/ -- ThredUp Inc. (NASDAQ: TDUP), one of the largest resale platforms for women's and kid's apparel, shoes, and accessories, announces that Marcie Vu was appointed to the company's Board of Directors in February 2021. Vu brings extensive experience helping consumer technology platforms and marketplaces grow and scale and has advised on many high-profile IPOs and M&A deals, including Google, Facebook, LinkedIn, and Alibaba.com. The announcement comes after thredUP recently completed its IPO in March 2021. Vu brings extensive experience helping consumer technology platforms and marketplaces grow and scale. "Marcie has spent decades providing strategic advice to industry pioneers and category leaders. With deep expertise supporting companies through the advent of ecommerce, she's well positioned to help thredUP capitalize on the large and growing market opportunity in online resale. This experience will be invaluable as we continue to fulfill our mission to inspire a new generation of consumers to think secondhand first," said James Reinhart, CEO of thredUP. Vu has over 20 years of investment banking experience and was previously Head of the Consumer Technology Group at Qatalyst Partners, a technology-focused M&A advisory investment bank. In her role, she provided high impact strategic and financial advice to senior management and boards of established and emerging technology leaders on matters crucial to their growth and success.
    [Show full text]
  • Investment Banks Or Boutiques: Why Are They Chosen and What Firm Type Makes the Better M&A Deals?
    Investment banks or boutiques: Why are they chosen and what firm type makes the better M&A deals? An empirical investigation regarding domestic M&A deals in the USA Master Thesis Author: S.R. Faber ANR (SNR): 215677 (1275258) Program: Master of Finance Supervisor: dr. C.A.R. Schneider University: University of Tilburg, Netherlands Abstract Between 2000 and 2015 there has been an increase in the M&A advisory business for boutiques advisors. The main difference between boutique advisors and full-service investment banks is that boutique advisors generally have knowledge in a specific sector or have a specialization on M&A, whereas full-service investment banks often cover a wide variety of services. This thesis investigates whether the findings found by Song et al. (2013) are still valid using another dataset. Song et al. (2013) investigated the firms’ choice for a boutique- or full-service advisor and what consequences it has for the deal outcome. It was found that boutique advisors (mixed advisory teams) have a higher probability of getting hired, when the deal size is small (high). In addition to this, boutique advisors generate higher deal premiums on both the target and acquirer side of the deal. No statistical evidence is found to draw conclusions regarding the influence of advisors on deal duration and deal completion. Overall, no significant statement can be made regarding the performance of boutique advisors when they are compared to full-service advisors. Master Thesis – B a s F a b e r – MSc. Finance (2016 - 2017) | 2 1. Introduction Over the last years there has been an increase in mergers and acquisitions (hereafter: M&A) deals, both domestic and international.
    [Show full text]