BLOG STARTUPS, VENTURE AND THE TECH BUSINESS
Posts Tagged ‘Liquidity’
February 3 2011
by Todd Hixon
When To Say Yes
2011 promises to be a good year for exits: economy healthier, stock market up, IPO window open, big tech companies with strong earnings and cash piles. Expectations for sorely-needed big exits are rising. I hope that happens. But let’s stay sober. I’m struck by how often venture boards overplay their hands in M&A negotiations. I’ve seen ...
April 14 2010
by Todd Hixon
Three Ways To Sell A Business
Frequently entrepreneurs and investors come to the point where they want or need to find an M&A exit. Is the time right? What should they expect? Here’s a framework that I hope is helpful. Buyers pay for three things: strategic opportunity, growth, and earnings/cash flow. Which of these you have to offer will influence who’s ...
May 9 2009
by Todd Hixon
Liquidity Panel: TLH notes from NVCA annual meeting
Controversial suggestion: extend lock-ups. Data suggests that VC selling is a major drag on price during first two years (small cap IPO performance historically is pretty flat in first year, much better in second year). Newhall from NEA: average hold post IPO used to be 3 years, before the bubble.Few buyers for newly minted IPO ...
