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  1. #1
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    [EN] EUA: 36 IPOs e 105 M&A em 3 meses

    Strongest quarter for IPOs since the third quarter of 2000

    The IPO market for venture-backed companies is off to a much stronger start than last year, which didn’t really get going until the second quarter.

    There were 36 initial public offerings in the first three months of this year compared with eight a year ago, according to data from Thomson Reuters and the National Venture Capital Association. It was the strongest quarter for IPOs since the third quarter of 2000.

    Biotechnology drove the IPO market, accounting for 24 of those 36 IPOs. It is the fourth consecutive quarter with double-digit life sciences IPOs, reflecting the recovery of a sector that many VCs had pulled back from.

    ...

    Mergers and acquisitions also saw an increase over a year ago year with 105 deals versus 86 in the first three months of 2013.

    ...

    Information technology dominated M&A activity with 79 deals. Within that sector computer software and services accounted for 37 deals.

    Google Inc.’s purchase of smart thermostat maker Nest Labs Inc. for $3.2 billion was the largest M&A transaction of the quarter. Second was VMware Inc.’s $1.5 billion acquisition of AirWatch LLC, a seller of mobile management and security technology to enterprises.

    ...
    http://blogs.wsj.com/venturecapital/...st-since-2000/

  2. #2
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    Bubblicious territory

    The dotcom bubble didn’t start to burst when Uncle Joe bought 10,000 shares of Pets.com. No, it reached its apotheosis in January 2000 when Time Warner agreed to be acquired for AOL’s stock in a merger valuing the combined entities at $350 billion. Fourteen years later, corporations are again splashing out big bucks for hot new tech toys.

    In 2014, Facebook has become an avatar, promoter, and beneficiary of the social media-related bubble. Earlier this year, it paid $19 billion for WhatsApp, a revenue-less messaging application. Then last week, it kicked $2 billion for another revenue-less company, virtual reality tech firm Oculus Rift. Rather than content himself with saying he had bought a new bauble, or that he paid out of a tiny percentage of Facebook’s valuation for something he thought was cool, Zuckerberg couched the acquisition in the characteristically bold terms of a bubble-surfer. As he noted in a Facebook post, Oculus is a new platform, a new world even. “One day, we believe this kind of immersive, augmented reality will become a part of daily life for billions of people,” he said. (And if you believe that, I’ve got a bridge in Second Life I’d like to sell you.)

    Bubbles rely in large part on the greater fool theory—companies and individuals buy trendy assets on the hopes they can sell them to trendy investors for even more. Facebook, in effect, already is selling the businesses it acquires to others. The company’s stock has more than tripled since September 2012, putting Facebook’s market capitalization at $160 billion. Now, unlike Oculus, WhatsApp, and many other companies, Facebook has both revenues and earnings. But investors are paying an extremely high premium for them—$101 for every dollar of earnings.

    In bubbles, we typically see the rise of businesses that exist mainly for the purpose of marketing themselves and gaining customers—not for generating cash flow, or turning a profit. There are plenty of those around, and they’re getting big valuations. Box, the cloud-based storage company that recently filed for an initial public offering, had about $124 million in revenues in 2013, double its 2012 total. Not bad. But as the Wall Street Journal reported, it spent about $1.38 on marketing alone for each dollar in revenue, leading to a $186 million operating loss. What’s more, it is operating in a highly competitive field in which anybody willing to splash out a lot of money can build a competing business.

    In bubbles, even—no, especially—companies that offer faddish products and services thrive. Last week, King Digital Entertainment, the maker of Candy Crush, went public in a splashy initial public offering. First priced at $22.50, King’s stock fell on the first day of trading—a rarity for IPOs and a potential sign of sobriety among investors. But consider this. Online games, and online gaming companies, have extremely short half-lives. Zynga rode its one big hit, Farmville, to IPO riches and then crashed as soon as the trend turned. In 2012, Zynga paid more than $202 million, to buy OMGPop, owner of the hit game Draw Something. A year later, when gamers had moved on, Zynga closed OMGPop. King has been granted a market capitalization of about $6 billion, even though it has essentially one product, and even though the company’s revenues are already starting to decline.

    To me, however, television programming often makes for the best bubble tell. It takes a long time for the entertainment community to latch on to a hot new trend. And then it takes even more time to sell the concept, order up a pilot, shoot the series and get it on the schedule. By the time a show on a hot financial or investing topic hits the airwaves, the phenomenon is usually over. TV deals for zeitgeist-capturing programming get inked during the “meltup,” and tend to debut just before the pop. The summer and fall of 2000, for example, brought us The $treet, a drama from Darren Star about hot young twentysomethings doing cool stuff with money, (including a very young Bradley Cooper), as well as ++Bull, (Same topic but on TNT.) A recession and stock market followed soon thereafter. In September 2005, when real estate was in full-on bubble mode, ABC gave us Hot Properties, a sitcom about hot real estate agents in New York. (The cast included Sofia Vergara). It was cancelled after nine episodes, and housing prices peaked soon thereafter. The Fox Business Channel launched in October 2007, just in time for an epic meltdown in the markets.

    HBO’s hot new zeitgeist-capturing sitcom about young people in a hot business sector debuts next Sunday. The title? Silicon Valley.
    http://www.thedailybeast.com/article...on-valley.html
    Última edição por 5ms; 03-04-2014 às 10:02.

  3. #3
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    Imgur: $40 Million in Venture Capital

    In February 2009, college student Alan Schaaf built a photo-uploading tool for the users of Reddit, an online discussion board that needed a way to share viral images.

    What Mr. Schaaf says was simply intended as a gift — an “image-sharing tool that didn’t suck,” as he put it — in five years has become a photo-hosting juggernaut and now the newest prized investment of venture-capital firm Andreessen Horowitz.

    Imgur (pronounced like “imager”) said Thursday it raised $40 million from Andreessen Horowitz and a small investment from Reddit, the forum that contributed to Imgur’s rapid ascent. The funding is Imgur’s first other than a $25,000 grant in 2010 from a program at Ohio University, Mr. Schaaf’s alma mater.

    After Mr. Schaaf created Imgur as a junior in college, Reddit users took to the site right away in part because it allowed easy, anonymous image uploads. The images – not just photos but memes, Photoshop creations, and GIFs – inspired comments and sharing on Imgur itself, and traffic followed. Today Imgur has more than 130 million unique visitors who rack up 40 billion image views a month.

    After users upload an image – of their pet, crazy craft project, or a favorite celebrity captured in a meme – the image is often shared on Reddit, where it picks up speed before being shared out to Facebook, Twitter, and the wider world. In some sense, Imgur has become the Ellis Island of viral images: Before images become famous, they enter the free world here.

    “Here” is a small office on the fourth floor of a building in the decidedly gritty mid-Market Street neighborhood of San Francisco, and the office space reflects what has been a lovable trait of Imgur: Independence. It has been a completely self-funded company with no investors and a fiercely loyal and outspoken user base. In 2011, TechCrunch named it “Best Bootstrapped Startup.” For the past several years it has fought off would-be buyers.

    The company began accepting sponsored images in 2012, allowing businesses to buy ad space on its home page and nestle an image among those voted up and down by users. The site has waded gradually into advertising with campaigns by Internet-friendly brands like Will Ferrell’s “Anchorman” movies.

    The company recently added a metrics dashboard for users to track their images’ popularity, showing how many times their images are being viewed, and on which platforms. Soon the company plans to expand its image search to allow users to find various types of content.

    Sixty percent of Imgur users are in the U.S. today, with the rest spread across the English-language speaking markets of Canada, Australia and the U.K. International expansion is not an immediate focus, but there’s “huge potential to get into new markets,” given the viral and visual nature of the content on Imgur, Mr. Schaaf said.

    Investment in the unpredictable and democratic arena of viral images prompts an interesting question: Can businesses capitalize on the spontaneity and power of memes? Imgur’s platform and functions bring new organization to the once-voodoo world of viral image-sharing, which has been uncharted territory for businesses. And will the Imgur and Reddit communities – outspoken and authentic as any on the Web – accept the company’s new investor, or condemn it for “selling out”?

    “We absolutely worried about ruining the party,” said Andreessen general partner Lars Dalgaard of the possibility of disrupting Imgur’s community. “But we are in love with what they are doing. This is about giving them the time and space to expand their vision.” Mr. Dalgaard said monetization “is not the discussion right now.”

    “Being bootstrapped made us that much cooler, but now we want to truly become a household name. It did become inevitable” with the company’s growth, said Mr. Schaaf. “We will have to find a much bigger office.” He plans to double or even triple his staff of 13 by the end of the year, which will require considerably more room than the company’s birthplace of student housing.

    –Lora Kolodny contributed to this article.
    http://blogs.wsj.com/digits/2014/04/...es-40-million/

  4. #4
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    U.S. Venture Capital Investment Highest Since 2001

    Most of the money is going to later-stage venture rounds, which accounted for $5.79 billion, a 31.7% increase from a year ago. This reflects the large ranks of older companies in VCs’ portfolios, many of them awaiting a shot at the IPO market.

    Second rounds also registered an upswing to $1.75 billion, a 39.8% increase from a year earlier, a continued sign that investors are concentrating on those companies showing market traction and poised for growth. First rounds meanwhile were down 5.9%, to $1.44 billion. Financings for companies at the startup stage of development fell 62%.





    Venture capital investment continued to trend upwards in the first quarter of 2014 with $10.74 billion raised by U.S. based companies, up 18% from the fourth quarter of last year and the most raised since the first three months of 2001.

    Venture investment was flat last year, but fourth quarter numbers from Dow Jones VentureSource signaled growing investor confidence. The latest VentureSource data show that continuing with a much stronger first quarter – 44% higher than the first period of 2013 when equity financing for U.S. venture-backed companies was $7.48 billion.

    This is only the second time since 2001 that venture investment exceeded $10 billion in a quarter. The prior instance was in the third quarter of 2011 when it hit $10.68 billion. Investment peaked at $26.36 billion in the first quarter of 2000, during the dot-com bubble.

    But while venture capital investors deployed more cash, they did fewer deals, according to the VentureSource data.

    There were 862 financing rounds in the first quarter, down 3% from a year ago and 10% from the fourth quarter of 2013. When investors last deployed more than $10 billion, they did 953 deals.

    There isn’t a clear trend, however. In the final three months of 2013, investors deployed $9.1 billion into 956 financings.

    Most of the money is going to later-stage venture rounds, which accounted for $5.79 billion, a 31.7% increase from a year ago. This reflects the large ranks of older companies in VCs’ portfolios, many of them awaiting a shot at the IPO market.

    Second rounds also registered an upswing to $1.75 billion, a 39.8% increase from a year earlier, a continued sign that investors are concentrating on those companies showing market traction and poised for growth. First rounds meanwhile were down 5.9%, to $1.44 billion. Financings for companies at the startup stage of development fell 62%.

    The latest data show that companies selling to other companies – known as the enterprise market – remain in favor. Business support services accounted for $1.93 billion of the investment total, a 79% jump from the first quarter of 2013. Software, another large segment, rose 85%, to $2.77 billion. The largest deal of the quarter was Intel Corp.’s $740 million investment in database software company Cloudera Inc.



    Consumer Internet companies, though, were not entirely out of favor, with the consumer information services sector drawing $858 million, up 11% from a year ago.

    With the public markets again receptive to drug developers, biopharmaceutical companies raised $1.15 billion from venture investors, a 7% increase from the first three months of last year. Medical software and information services, a much smaller sector but one that is drawing close attention because of health-care reform, attracted $297 million, a 130% increase from a year ago.

    Tied for the most investments in the first quarter were industry giant New Enterprise Associates and accelerator 500 Startups with 27 deals apiece.

    VentureSource is owned by VentureWire publisher Dow Jones & Co.
    http://blogs.wsj.com/digits/2014/04/...st-since-2001/
    Última edição por 5ms; 17-04-2014 às 10:18.

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