Editor’s note: Glenn Solomonis a Partner with GGV Capital . Some of his recent investments include Pandora, Successfactors, Nimble Storage, Isilon, Domo, Square, Zendesk, Quinstreet and AlienVault. His personal blog, goinglongblog.com , focuseson growth-stage entrepreneurs who are thinking big. Follow him on Twitter @glennsolomon .
Update: There has been some pushback about this post, and I think a note is in order. My financial accounting source says that the main premise checks out, but that because I only looked at the S-1 document, I could have missed the impact of potentially extant private contracts between the banks in question and the company. This could lead to caveats, price controls, and the like.
It was once a rare practice, but employees are now finding more ways to unload vested shares in their startups along the way. While employers have typically tried to control these sales, a new marketplace called Equidate is opening up that will let employees sell equity with or without the startup’s consent (although Equidate would prefer to collaborate with employers).
Facebook’s share price tanked upon IPO, scaring plenty of private companies away from the public markets. But with its eventual recovery and now the stellar performance of Twitter’s IPO out the gates, the Wall Street bell suddenly has a much nicer ring to it.Just in the last few days we’ve heard of Square, Box, and Seamless moving forward with IPO plans.Now, a soaring share price isn’t always a good thing, and a sinking one isn’t all bad depending on a company’s intentions.
Twitter has just announced via an S-1 amendment that “the Company entered into a revolving credit agreement with certain lenders which provides for a $1.0 billion revolving unsecured credit facility maturing on October 22, 2018.” Twitter also listed out financials for its acquisition MoPub, including that it brought in $6.51 million in revenue in the six months ending June 30th 2013.
"Investors often ask us about the sentiment on Apple (AAPL)," said Morgan Stanley's Katy Huberty in a recent note to clients. "The qualitative answer is that sentiment is negative as most funds question Apple's ability to grow revenue long-term.
As the real estate market regains some life after an extended dip, people are beginning to get comfortable with the idea of selling their home again and, in turn, getting comfortable with looking around for that special place.
The stock market brouhaha around cloud-based storage and collaboration is about to begin: Mark DeCambre at Quartz is reporting that Box has secretly filed for its initial public offering with the US Securities and Exchange Commission. According to Quartz's sources, the company has reached out to Morgan Stanley, Credit Suisse, and JP Morgan Chase to help underwrite its stock offering.
Tesla took a drubbing in October and November last year, but the stock is gathering steam again. After reporting solid Q4 deliveries, the stock went on a tear on Tuesday. Morgan Stanley's Adam Jonas who has an overweight rating on the stock, cranks up the argument in favor of Tesla another notch.
A new seed-stage investment fund and ‘company creation’ startup called BrandProject launched today, with offices in Toronto and New York, and a team of founders who, between them, have a boatload of experience building, shipping and marketing consumer hardware and software for some of the biggest brands on the planet.
In the winter of 2011, Eric Frenkiel was working at Facebook as an engineer making tons of money and sitting on lots of pre-IPO stock options. Then he, along with fellow Facebook engineer Nikita Shamgunov, walked away. They left to found a startup called MemSQL, which is taking on giant Oracle with a faster, cheaper database. He was 25.
Social gaming firm Zynga today plunged 12 percent in regular trading, following a warning bySterne Agee’s Arvind Bhatia , whichindicated that the market’s fourth-quarter consensus may be too optimistic.
Tuniu has raised over $60 million in venture funding from investors including DCM, Gobi Partners, Sequoia Capital, Highland Capital Partners, and the Tokyo-based Internet services company, Rakuten Inc.
The first question I thought of when I read that San Francisco hedge fund Coatue Management was the backer behind Snapchat’s $50 million round of funding was which VC firm lost the deal. My second question was why take money from a hedge fund? In the past two years or so, you have seen more hedge funds dabbling in tech investing. As one venture investor put it in 2011, “They are the antichrist of patient, supportive early-stage investing. But increasingly, hedge funds are scoring some of the deals you would expect traditional VCs to get. Case in point — Snapchat. Over the past few weeks, I spoke to a dozen or so public and private market investors around this trend, why it is taking place, and what it means for founders.
Kabam , the San Francisco-based social and mobile game maker that bought itself naming rights to UC Berkeley’s stadium , said it doubled its annual revenues to $360 million this year . That gives another revenue benchmark for top-grossing game makers. Kabam, which made a hard pivot from Facebook to mobile a few years ago, has two games in the top grossing 50 on the iPhone in the U.S.
After all the VC deals that get done at Blue Bottle Coffee, it’s only fitting that Blue Bottle Coffee’s fundraising be one of them. The tony coffee brewery announced its $25.7 million investment, completed at its flagship store in Oakland, earlier today.
David Gelles and Michael J. de la Merced report that across Silicon Valley, start-ups, already flush with cash, are piling on the investment dollars.Of the 100 largest venture capital rounds on record, 88 were issued within the past five years, according to CrunchBase, which tracks venture funding. Each delivered more than $50 million to the companies.
Editor’s note: Mike Jones, formerly CEO of Myspace, is the CEO of Science, Inc., a Los Angeles-based technology studio that nurtures successful digital businesses by bringing together the best ideas, talent, resources and financing through a centralized platform. Follow him on Twitter @mjones .