April 2017 M&A Moment – how to sell a publicly traded company

Posted on Leave a commentPosted in Business, business advice, M&A

In this episode of The M&A Moment, I talk with Rick Climan, a partner at Hogan Lovesll, LLP, about 2017 year to date mergers and acquisition numbers, San Francisco Bay Area involved deals and the mechanics of seller a publicly traded company.

Rick and I discuss MaxLiner’s (NYSE: MXL) $660Million takeover of the Bay Area’s Exar Corporation (NASDAQ: EXAR), a deal of particular interest to me because MaxLinear’s CEO, Kishore Seendripu, and their VP, Product Marketing were both classmates of mine in the MBA program at Wharton San Francisco.

In Bay Area technology M&A, we discuss Intel Corporation’s acquisition of Mobileye, the Israeli manufacturer of vehicle collision avoidance systems for $15 billion. This deal gives Intel a major leg up into the world of autonomous vehicles. Next we look at Hewlett-Packard Enterprise’s purchase of Nimble Storage for $1 billion.


Rick Climan headshot
  
Hogan Lovells, LLP logo
While we could not discuss specifics it is interesting to note htat on the day that this show was recorded, Rick’s company was involved with the just-announced $28 Billion takeover of C.R. Bard by Becton-Dickinson. His firm was involved in the recently announced PetSmart acquisition of Chewy.com for $3.35 Billion. The largest online buyout to date. Rick does review some of the publicly available information about about both deals though.

Finally, as mentioned, we take an in-depth look at the M&A “mating dance” from the perspecitve of a publicly traded selling company. We look at how sellers begin the process of validating whether its the right time to sell and, if so, how to set the ball in motion. We talk about the investment banker’s role and discuss the difference between the seller’s cost between an IPO or an outright sale of the firm.

 

This episode was recorded on Bay Area Ventures on SiriusXM Channel 111 Business Radio Powered by the Wharton School on April 24, 2017.

Launching and growing startup ventures in Colombia with Wenyi Cai of Polymath Ventures and Jeremy Dann of USC

Posted on Leave a commentPosted in Business, business advice, Finance, startup incubators, Venture Capital

Wenyi Cai, Managing Partner of Polymath Ventures and Jeremy Dann, Professor of Innovation at USC’s Marshall School of Business’ Lloyd Greif Center for Entrepreneurial Studies joined me on Bay Area Ventures to talk about entrepreneurship and its impact on economic development in emerging markets like Latin American and specifically in Colombia.


 
Polymath Ventures
Wenyi Cai

 

Jeremey Dann, Professor at USC

 
Professor Dann is back for his third appearance on my show and this time he is here to talk about his new case study about Wenyi’s venture fund and incubator Polymath Ventures. The case, which like all of Jeremy’s 30 plus case studies, is used as a teaching tool for entrepreneurs and business students in businesses and business schools throughout the world. Jeremy is an expert at walking one through the challenges and issues that a company or managers face in real world situations. In this case Wenyi and her team face new and unique challenges creating, incubating and funding startup companies in emerging Bogota, Colombia. The issues include a rapidly changing political environment, entrenched traditional standards for financing ventures and a lack of infrastructure for supporting the needs of a fast paced venture-backed startup.

 
Wenyi is a bright and dynamic woman who, at the age of 15, was working on fluid dynamics problems at the Argonne National Laboratory in Chicago. She went on to earn her degree in Physics from Harvard University and, while there, founded Tuesday Magazine. After college, Wenyi worked at McKinsey & Company on management consulting assignments in the Middle East, Africa and South Asia. She then moved to the San Francisco Bay Area and became COO of Milo.com. One year later Milo was acquired by eBay for $75 Million. Ms. Cai did not wanting to join another Bay Area startup and opted instead to start up her own fund and foster innovation and entrepreneurship in emerging markets. Wenyi and her team set out to identify the best place to found Polymath Ventures and settled on Bogota, Colombia.

Professor Dann picks up the case from there and walks the us through Polymath’s earliest ventures.

Wenyi and Jeremy discuss the case in detail and also offer their take on the difference between the Bay Area way of business vs. the startup and entrepreneurial environment in Colombia and other emerging markets We cover several of Polymath’s earliest ventures and found out how they have fared since Jeremey completed his research and published his paper.

This is a rare opportunity for students of business, to learn from the protagonist of a case study.

Jeremy’s Case Study of Wenyi and Polymath Ventures can be purchased at Harvard Business Press or The Case Centre

Recorded on March 27, 2017, on SiriusXM Channel 111, Business Radio Powered by the Wharton School. Bay Area Ventures airs live on Mondays at 4:00pm Pacific Time, 7:00pm Eastern Time.

For a list of upcoming and past guest information click on the Show link above.

Len Lodish discusses how Diapers.com went from zero to $545M

Posted on Leave a commentPosted in business advice, free business advice, Marketing

Len Lodish, Vice Dean, Program for Social Impact and Samuel R. Harrell Professor in the Marketing department of The Wharton School of the University of Pennsylvania was my guest on The Free COO radio show on May 3, 2012.

Two of Len’s students from Wharton San Francisco’s MBA for Executives program founded Diapers.com while in school. Len was an investor and on Diaper.com’s Board of Directors. He discusses how the company went from a startup to its acquisition by Amazon.com for $545MM in just five years. Here how Diaper.com started in a garage, sourcing supplies from Costco in order to test their theory and market potential. Then learn how their customer service totally delights their customers.

Dr. Lodish also helped two other students get www.milo.com off the ground and sold to eBay.com in less than three years.

In this amazing interview we’ll explore Len’s career, his courses at Wharton, his own fantastically successful startups, his Global Consulting Practicum and how he and his wife complete a 1,000km unassisted tandem bike ride somewhere in the world each year to raise funds for the ALS Association of Philadelphia.

You’ve got to hear this interview end to end.

For more information about Len or to contribute to his annual 1,000K fund raiser visit these links:

www.alsphiladelphia.org/lodish

Wharton MBA for Executives

Len Lodish’s profile

The Free COO airs Thursdays on Speaker.com. You can also hear replays on Facebook and iTunes.