Venture Finance SIG: M&A - Looking for the Exits
The Monthly Meeting of the Venture Finance SIG
Pre-registration is now unavailable.
Please register at the door.
M&A: Looking for the Exits
Consider the following situations:
- You've bootstrapped your company to $3 million in revenues, but can't grow without additional resources
- You've raised a Series A and B round, but are still burning cash and your investors will only put more money in if you find a new lead investor
- A large software vendor has just announced a new offering that will be directly competitive with your product and threatens your viability in the marketplace
- If any of these sound familiar, you should at least be thinking about M&A opportunities. Listen to a panel of experts who are either buying software companies or have recently sold discuss these and other issues:
- Do I want to or have to work for my acquirer?
- How will the current consolidation in the software industry impact my start-up?
- When is the right time to start the process?
- What are buyers looking for?
- How to avoid a fire sale?
- How are deals being structured?
- Traps to avoid when selling your company
- Turning partnership discussions into a merger
- Should you use an investment banker or other intermediary?
- What are the key considerations in valuation?
About the Panelists
Vik Chaudhary, Keynote Systems
Vik Chaudhary is Senior Director, Corporate Development at on-demand software company Keynote, where he extends the company into new markets via acquisitions and geographic expansions. Prior to Keynote, he spent 16 years at blue-chip and startup Silicon Valley companies, starting with 5 years at Oracle leading core software engineering projects, running product management at database pioneer Gupta Technologies, and founding an on-demand software company Bizmetric. He is a frequent speaker at industry events on software strategy, M&A and new ventures in India, and has been featured in the New York Times and on Ted Koppel's ABC Nightline documentary "GoldRush.com - How One Start-Up Weathered the Hi-Tech Storms." Vik holds a B.S. in Computer Science and Engineering from MIT.
David Petroni, Valchemy
David Petroni recently joined Valchemy from PeopleSoft, where he served as the vice president of corporate business development. Valchemy is the leader in enterprise application solutions for mergers and acquisitions. David led all of PeopleSoft's merger and acquisition activities, including the $1.8 billion acquisition of J.D. Edwards & Co. in 2003. David brings more than 10 years experience of finance and corporate development to Valchemy, Inc. including the completion of more than 20 merger and acquisition transactions. Prior to joining PeopleSoft, Petroni served as vice president of finance for Vignette Corporation (having joined the company via the merger with OnDisplay, Inc.). Previously, Petroni held senior finance and business development roles at General Electric Company and National Semiconductor. Petroni received his MBA with honors from Georgetown University and bachelor degrees in political science and agricultural managerial economics from the University of California at Davis.
Karl Jacob, Cloudmark
Karl Jacob is a three-time entrepreneur and has been building Internet companies since 1992 in roles that span management, technology and marketing. Jacob joined Benchmark Capital as an entrepreneur-in-residence in July 1999, charged with creating the "next big thing." He formed Keen, and was the CEO and President until May of 2002. While at Keen, he led the company to be credited as the fastest growing ecommerce company in history taking it from no revenue to sustained revenue and membership growth. Prior to Keen he spent two years as a Microsoft executive, following Microsoft's acquisition of Dimension X where he was founder and CEO. Two of Jacob's companies have been selected for Fortune Magazine's Cool Companies of the year list and Business Week named him one of the top 10 Up and Comers in 2000. Jacob has spoken on pivotal issues to the Internet industry at many conferences and trade shows including the Deutsche Bank Technology Conference, Goldman Sachs Internet Conference and Merrill Lynch Investment Conference. He is also one of the only executives to be a three-time return presenter at Demo, a premier industry event that hand selects the products set to ignite the technology landscape and turn the markets around for a given year. He advises and sits on the board at several companies including Cloudmark. Jacob holds a B.S. in Computer Science from University of Southern California, 1991 and currently sits on the school's board of counselors for the School of Engineering.
Scott Kauffman, Zinio
Scott joined Zinio in 2004 from MusicNow, a digital music service where he was president and CEO. Scott brings to Zinio an extensive background in executive management with digital entertainment, consumer marketing, media and technology companies, including CompuServe and Time Warner, where Scott was a member of the founding team of Entertainment Weekly magazine and vice president of business development for Time Warner Interactive. Prior to MusicNow, Scott was president and CEO of Coremetrics, the leading web services provider of marketing analytics and president and CEO of eCoverage, a direct-to-consumer online insurance company. He was recruited to Silicon Valley from CompuServe in 1997 by Kleiner Perkins to become president and CEO of AdKnowledge, a company focused on developing management solutions for Internet advertising. Prior to CompuServe, Scott spent seven years at Time Warner and five years at Newsweek, where he was the publisher of Newsweek on Campus and Newsweek on Health, and general manager of Newsweek's education division. Earlier in his career, he was a media planner for Benton & Bowles, a brand manager for Lever Brothers and a marketing manager for Playboy magazine. Scott holds an AB in English from Vassar College and an MBA in marketing from New York University's Graduate School of Business. He was honored by Advertising Age in 1996 as one of twenty Digital Media Masters. In July of 1992, Advertising Age named him one of the top 100 marketers in the country.
About the Moderator
Steve Bennet, Bodega Partners
Steve is founder and managing director of Bodega Partners, a venture catalyst and management consulting firm, which aids early-stage companies in strategic planning, business development, and interim management. In the past ten years with Bodega, he has helped over 75 companies meet their strategic and financing goals. He has taken the CFO role in over a dozen of these companies, including Orbital Data, Valchemy, iControl Networks, CSE Systems, Empart Technologies, Rentals.com, GolfWeb, Tribeworks, and Biological Components Corporation. Prior to and concurrent with Bodega, Steve was a Venture Partner at Outlook Ventures, an instructor at U.C. Berkeley (teaching an extension course he designed, "Financing the Software Venture"), and held various positions in software product marketing and corporate finance at Bay Logics, Digital Microwave, and Arthur Anderson. Steve is currently co-chair of the Venture Finance SIG at the Software Development Forum. Steve earned an undergraduate degree in economics from the Wharton School at the University of Pennsylvania and an MBA from The Anderson School at UCLA. He is also a licensed CPA.
DLA Piper Rudnick Gray Cary LLP
2000 University Avenue
East Palo Alto, CA 94303
6:30 p.m. - 7:00 p.m. Registration / Networking / Refreshments
$20 SDForum members
$30 Non-SDForum members
Pre-registration is now unavailable.
Please register at the door.
More on the Venture Finance SIG...