Good Davis Polk webcast on managing secondary share sales in private companies. A good primer for CFOs and GCs on the business and legal issues. Summary below. Older days of VC backed companies required numerous rounds of private financing. By the time company was profitable there was often a large contingent of VCs who were … Read more
Congrats to the team at Quadriserv on closing a $34 million financing. The round was led by the ISE with participation from Interactive Brokers, Sungard, and others. My firm, Bessemer Venture Partners, led Quadriserv’s A round and participated in this round as well. We wish them continued success with the launch of their electronic marketplace … Read more
The Huffington Post reports that a Morgan Stanley financial advisor pitched his client on lending his shares in Ford at a 13% annualized return. Somehow this is deemed newsworthy? The Huffington Post provides a few reasons why they think this is unusual, none of which seem particularly surprising: Normally, financial firms can borrow securities to … Read more
The WSJ reports that GM Auditors raised doubts about the company’s viability. Is this really news?
Fatfoogoo has a good summary of David Perry’s comments at DICE. He makes some good points about the future of games, but I have to disagree with his comment that we’re moving towards cloud processing “thus removing the need for players to own powerful software or processing power”. This doesn’t make sense because it runs … Read more
Earlier this week Live Nation and Ticketmaster announced plans for a $2.5 billion stock-for-stock merger. Several people, including Bruce Springsteen, have speculated that this will ultimately lead to higher ticket prices. I personally find it hard to understand how this merger could NOT lead to higher ticket prices for consumers. The fact that these two … Read more
The NY Times has a good article on the risks of deflation. The article suggests that in early December investors purchased Treasuries at negative yields as a result of the deflationary environment, however I think the real reason they were trading at negative yields was the expectation of the Fed’s December interest rate cut.
http://dealbook.blogs.nytimes.com/2009/01/26/bofa-played-role-in-4-billion-merrill-bonuses-report-says/#more-30605 Truly amazing. I wonder how much they would have paid had they only lost $10bn in the 4th quarter, instead of $15bn.