Last Friday was Black Friday – the day after Thanksgiving – which is traditionally a big shopping day in the US as most people take the day off and many go shopping in preparation for Xmas. The following Monday, which is today, has recently become known as Cyber-Monday as it has become the biggest [...]
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For some time now Groupon has been the company that everyone loves to hate, but despite that its valuation has kept on climbing. Until this week. Groupon’s share price has fallen 35% over the last three days, closing at $16.96 last night – some 15% lower than its IPO price of $20, and [...] Data just out shows that Q3 was a great quarter for M&A. As you can see from the charts below total deal value and average deal size were up quarter on quarter and year on year and deal volumes are also pretty robust. On top of that Groupon finally went public (pricing at $20, [...] At the end of August I noted with surprise that three midsize tech companies had filed to go public in the US, and said that there success in making the next step to actually listing would tell us a lot about the state of the market. In the last couple of days we have [...] During my morning reading today I was surprised to read articles about one, then two, then three mid-sized software companies filing to go public. The three are Eloqua, Jive Software and Brightcove, all decent businesses with good reputations, but they are not juggernauts like LinkedIn, Zynga or Facebook. I was surprised at this news [...] I have nothing but admiration for Autonomy, but my heart sunk a little when I heard on the news last night that HP was looking to buy them, and then dropped a little further when I read this morning that the Autonomy board is supporting the offer, making it pretty much a done deal. [...] The chart below shows that software and services companies take about the same amount of time to get to IPO as just about all other categories of companies that venture capitalists invest in. I found it on CNN Money. This is a somewhat surprising finding given that internet companies often create value really fast, [...]
Last night we announced the sale of Zeus Technology to Riverbed for $140m. This exit is the culmination of a lot of hard work by a lot of people over a long period of time. My involvement with the company dates back to 2004 when I led a recapitalisation of the business [...] One of the best ways to get a premium multiple for your company is to build a deep relationship with your potential acquirer. It is only possible to build a limited number of such relationships and hence (all things being equal) it makes sense to focus on partners with a good track record [...] Twenty-fourth in a series of weekly posts by myself and Nicholas Lovell of Gamesbrief which answer the fifty questions you should ask before raising venture capital. We expect the series to run for a year after which we will collate the posts into a book. You can find the rationale behind the series here, [...] |
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