The Report from Web Summit 2018 Were You Among the 70,000 Attendees at the Web Summit in Lisbon? We Were

Privately Speaking

Insights on private company growth from private company insiders Issue 46 | Strengthening your business | March 2019

The report from Web Summit 2018 Were you among the 70,000 attendees at the Web Summit in Lisbon? We were. And it was energizing. Not just because it is one of the largest technology summits in the world featuring some of the world’s top technology companies, startups, policy makers, and investors, but also because the summit brought to life ideas that we had once thought impossible. For those not able to attend—or for those who spent all of their time on the conference floor courting investors and meeting other founders—here is an overview of the key themes and topics raised at the 2018 Web Summit.

5 Key themes from Web Summit 2018 Opportunities: Where is the best place 1 for innovation? Not surprisingly, much of the discussion at Web Web Summit is where many of America’s Summit focused on potential opportunities, not only for startups and emerging growth technology startups but also for companies looking to scale and companies go to meet new partners and more established businesses looking to embrace investors that drive their companies to the innovation. Despite ongoing Brexit issues, trade war next level of success. If you are growing your tensions, and shifting regulatory frameworks, investors company, events like the annual Web Summit and entrepreneurs agreed that good companies can provide not only great connections into new win investments regardless of their home location. networks; they also offer new ideas and signals as to where the markets are going. Financing: How do we get the right funders to 2 help us achieve our goals? —Brian Hughes, Many of the panels at Web Summit focused on the National Private Markets Group Leader intricacies of attracting capital, whether from seed and and National Venture Capital Coleader, angel investors or from top-tier venture capital firms. KPMG LLP The general consensus among the different speakers was that there is a significant amount of capital available in the market globally for startups regardless of where they are based—but companies need to do their homework if they want to attract attention from VCs.

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© 2019 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International. NDPPS 741134_Issue46 Agility: How can we be more responsive to 3 our customers? Want to learn more from The topic of agility came up numerous times during your peers? Web Summit, in part driven by a growing recognition Insights from the 2018 among traditional businesses that the status quo is not Web Summit on turning enough to ensure success in the future. Agility comes possibilities into realities can in many forms, but most of the speakers at Web be found here. Summit recognized that it is typically driven by a need to understand and respond to customers better. Download Productivity: How can we become more 4 efficient and effective? There was a significant amount of focus on finding ways to make companies more efficient and productive during the conference. While much of this discussion focused on existing organizations, there was also an emphasis on how startups are creating value by helping organizations and individuals get more Working with you for today— out of the time that they have. and tomorrow Values: How important is it for a company In today’s business environment, success 5 to be socially responsible? isn’t a guarantee. But for entrepreneurs Corporate social responsibility emerged as a and companies with the right knowledge, key theme—from the rationale driving traditional mind-set, and customer focus, anything is companies to take moral stands on specific issues, possible. to the value of entrepreneurs considering social At KPMG, we are dedicated to working with responsibility when they launch a new start-up. While businesses like yours. Whether you’re an there was some debate over the “how,” speakers entrepreneur looking to get started, an innovative agreed that companies should consider their potential company looking to scale, or an established social impact right from the beginning. company looking to make an exit, our advisers What is Web Summit? understand what is important to you and can help Web Summit is an annual technology and innovation you navigate your challenges—no matter the size or conference held in Lisbon, Portugal. The eighth annual stage of your business. conference took place November 5–8, 2018—attracting When you work with KPMG, you have all of the more than 70,000 attendees, including global leaders, experience of KPMG at your fingertips through new startups, companies looking to scale, government a single point of contact—a trusted adviser who officials, and an array of influential investors. understands your company and can help you More than 800 speakers and presenters took part achieve growth without compromise. With all the in the conference, including executives from the resources we have, we can help you respond to world’s largest companies, including Amazon, Google, pressing day-to-day issues, even as you work to Microsoft, and Samsung and the founders and CEOs shape a successful future. of rapidly growing technology brands like Pinterest, Kabbage, Lime, and Hanson Robotics.

Participating in events like Web Summit allows us to stay on top of the issues keeping founders and CEOs up at night and share insights into how successful companies are tackling the challenges freezing others in their tracks. It’s a key part of how we help our clients become some of the most successful companies in the world. —Conor Moore, National Venture Capital Coleader, KPMG LLP

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Starting your Growing your Strengthening Transitioning business business your business your business Contacts

Brian Hughes Partner National Private Markets Group (PMG) Leader National Venture Capital Coleader Privately Speaking focuses on the issues that matter most T: 267-256-1820 to privately held entities, including PE– and VC–backed E: bfhughes@kpmg.com companies. Conor Moore Partner KPMG’s Private Markets Group understands what it takes to drive private company National Venture Capital Coleader growth. In each edition of Privately Speaking, we share our insights—along with T: 415-963-7559 practical and actionable tips—to help boards, executives, and management grow, E: [email protected] strengthen, and transition their privately held businesses. Sal Melilli Partner National PMG Audit Leader For more information, click here to T: 212-872-6030 visit our Privately Speaking web page. E: [email protected] Brad Sprong Partner National PMG Tax Leader T: 816-802-5270 E: [email protected] Some or all of the services described herein may not be permissible for KPMG audit clients and their affiliates or related entities.

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The following information is not intended to be “written advice concerning one or more Federal tax matters” subject to the requirements of section 10.37(a)(2) of Treasury Department Circular 230. The information contained herein is of a general nature and based on authorities that are subject to change. Applicability of the information to specific situations should be determined through consultation with your tax adviser. KPMG’s individual tax services may only be provided to owners and senior executives of private business clients of the firm or in connection with global mobility services or bank trust outsourcing services. © 2019 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International. NDPPS 741134_Issue46