Bloomberg News estimated today that New Enterprise Associates stands to make a 26-fold return on its initial investment in Data Domain, the maker of storage backup tools that agreed to be acquired for $2.1 billion by EMC after a bidding war with NetApp.
NEA should make Read the rest of this entry »
Social Media Networks, the provider of “word-of-mouth” marketing via online social networks, raised $6.5 million last month, according to a regulatory filing it made today with the SEC, and intends to sell $1 million more of itself in the offering.
While the Regulation D filing doesn’t detail the buyers and how much each spent in the offering, the list of “Related Persons” includes Read the rest of this entry »
In this age of disintermediation, when middle men of all kinds are rendered increasingly irrelevant by online technology, it seems only fair that the same force takes aim at the people who helped finance the Internet’s spread: venture capitalists.
YouNoodle, the San Francisco startup that last year launched an online crystal ball of sorts that uses Read the rest of this entry »
In case you were wondering how to obtain a copy of your birth certificate in New Mexico, then you could refer to a new article posted at wikihow.com, which would be the Web sites 50,000th such article, and the occasion for a celebratory press release from the Menlo Park venture begun four years ago by Jack Herrick with the Read the rest of this entry »
This shouldn’t come as any surprise, but venture capitalists are forecasting a “difficult 2009″ for their industry and for capital markets in general, not to mention the national economy, according to a press release today from the National Venture Capital Association.
Ninety-two percent of venture capitalists surveyed by the group are predicting a Read the rest of this entry »
Private-equity behometh The Carlyle Group is pulling the plug on its Silicon Valley office less than a year after setting it up. The move is part of a 10 percent reduction in force the company is undertaking, according to a report in the Wall Street Journal Thursday.
“The markets are terrible and we need to adjust accordingly,” Read the rest of this entry »
Remember Alien Technology, the Morgan Hill maker of radio-frequency ID technology that two years ago unsuccessfully tried to sell 9 million shares with the proposed ticker symbol of RFID at $10 to $12 a share in an initial public offering to be underwritten by its investment bankers led by Bear Stearns? (Hey, remember Bear Stearns??)
Alien has secured a significant new chunk of venture funding. “Despite challenging U.S. economic conditions,” said the company in a press release understatement Monday, it raised a $38-million round led by Read the rest of this entry »
This news won’t come as much of a surprise, but the number of initial public offerings worldwide fell in the third quarter by 82 percent from the year before to 20, while the total amount of cash invested fell 89 percent to $9.3 billion, according to a review by Renaissance Capital’s IPOhome.com.
And of the top 10 global IPOs, only one Read the rest of this entry »
“The Russian president said in a speech Thursday that the financial crisis in the United States should be taken as a sign that America’s global economic leadership is drawing to a close,” reported the International Herald Tribune, which also pointed out that investors have been fleeing Russia and depositing money in U.S. Treasury bills.
But the sentiment expressed echoed in our heads this morning when we came across an otherwise unremarkable press release announcing a venture funding in a Sunnyvale chip company: Read the rest of this entry »
Venrock, the VC firm that began life as the venture arm of the Rockefeller family, was inducted into the Private Equity Hall of Fame, according to a press release Venrock released Tuesday. The award was presented to the firm during a conference of private equity analysts being held by Dow Jones this week in New York City, where we can imagine the topic on most people’s tongues right now is not this news but the breathtaking disintegration of some of Wall Streets biggest banks.
We were intrigued by the fact that there even is a Hall of Fame dedicated to the performance of private equity firms — we assumed that triple-digit investment returns were the preferred method of recognition for these particular breed of capitalists.
It seems that the awards were founded in Read the rest of this entry »
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