#ParisIsBack - THE PARIS TECH GUIDE

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This is a snapshot of the Parisian tech scene, through the eyes of Index Ventures and TheFamily, leveraging the experience of the thousands of people who make it happen.
We hope you'll find it useful as a guide to navigate the ecosystem.

ATTRIBUTION-SHAREALIKE CREATIVE COMMONS LICENSE.

Paris is Back: Thirty years in the making, Paris' tech scene has finally reached escape velocity

Criteo and BlaBlaCar: two unicorns leading Paris' revival

In October 2013, in what turned out to be a seminal moment, Criteo raised $250m when it listed on the Nasdaq. It is now valued at over $2bn, confidently taking on Google on its core competency of online performance advertising. It employs more than 500 employees, many of them engineers, in a flamboyant contemporary building in the heart of Paris.

Just one floor below, in the same building as Criteo, is BlaBlaCar, a ride-sharing company that raised $100m, one of the largest funding rounds in Europe, to expand its services beyond the 12 countries it already served, and connect the rest of the world to its next-generation transportation network.

From the ground up: entrepreneurship is the new politics

While exceptional in many respects, these two companies are representative of a broader entrepreneurial movement coming from the ground of French society. In a country historically governed from the top down, and where the state tends to identify itself with civil society as a whole, it has been easy for outsiders to overlook this grassroot phenomenon. But, while nobody was watching, France, and Paris at the heart of it, has quietly emerged as a tech powerhouse.

Come to TheFamily

With highly skilled engineers, artists and business students aplenty, a growing cohort of wealthy and experienced repeat entrepreneurs, and a steady supply of capital from local and international funds, stars have finally aligned for the take-off of a long under-hyped ecosystem. Now is the right moment to invest time and money in Paris. This definitive guide will help you get started.

Welcome to Paris!

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#ParisIsBack - THE PARIS TECH GUIDE

  1. The Paris Tech Guide #ParisIsBack
  2. THE FRENCHIE #TRADITION #ART-DE-VIVRE #CREATIVITY
  3. INDEX 1. Started from the Minitel now we’re here. 2. Paris tech scene today. 3. Invest time & money in France. Seriously? 4. Who: the 7 families you should know. 5. Resources to get started! 6. Annex.
  4. STARTED FROM THE MINITEL NOW WE’RE HERE 1
  5. 30 YEARS OF EXPERIENCE WITH LARGE SCALE INNOVATION: STARTING WITH THE MINITEL 1993 $1B 6M households already connected in France, while Mozaic was just being launched in the USA. revenues per year at its peak, shared between France Telecom & 25,000 content providers. 10 years before the Internet, it created the 1st generation of wealthy & experienced tech entrepreneurs.
  6. 15+ YEARS OF INTERNET Silicon Sentier NOW Still the biggest concentration of Internet startups in France 1998 Birth of Silicon Sentier 300 Internet startups in a 4 sq km area - 1st area connected to high speed Internet in France - Cheap & spacious real estate - Central, great lifestyle for young creatives
  7. SYMBOL OF THIS JOURNEY ILIAD XAVIER NIEL $14B Valuation. From the minitel to a telco & Internet empire.
  8. 2 PARIS TECH SCENE TODAY
  9. Entrepreneurs sleep 35h a week ;) Young & innovative compagnies get significant tax rebates. *JEI & CIR Schemes Trial periods of 6 months allow you to test before hiring. THEY WORK 35H/WEEK? THEY PAY HIGH TAXES? THEY CAN’T HIRE & FIRE FAST? CLICHÉS
  10. A VIBRANT EARLY-STAGE INVESTMENT ENVIRONMENT 40-50% 30% Soft & Internet Concentrated in Paris $1.4M Average ticket invested $1B Invested per year in 700+ companies On-par with the UK where $1.3B was invested in 2013.
  11. THERE IS LOCAL MONEY AT THE EARLY STAGE $1.5B raised by 9 top early-stage funds in the past 3 years. $363M $157M $145M $121M $121M $72M $61M $54M $424M
  12. THE TOP 3 EUROPEAN FUNDS ARE ACTIVE ON THE GROUND FRED DESTIN PHILIPPE BOTTERI DOMINIQUE VIDAL MARTIN MIGNOT BERNARD LIAUTAUD NICOLAS DEBOCK SOFIA HMICH
  13. AND MANY OTHERS HAVE BEEN ACTIVE TOO
  14. $70M $90M(est.) ACQ. BY RED HAT $1,7Bn VALUATION $600M $275M $140M $90M ACQ. BY ADOBE ND ACQ. BY ACQ. BY MICROSOFT ETSY ACQ. BY FILMALAC GROUP ACQ. BY TRIPADVISOR ACQ. BY AU FÉMININ OVER THE PAST 18 MONTHS
  15. HIGH PROFILE COMPANIES GETTING FUNDED In the past 12 months
  16. MANY UNICORNS YOU ALREADY KNOW
  17. & A NEW WAVE IS COMING! SAAS FINTECH ADTECH
  18. DOUBLE RAINBOW! HARDWARE CONSUMER MOBILE MARKETPLACE BIG DATA
  19. INVEST TIME AND MONEY IN PARIS? 3 - SERIOUSLY?
  20. ENGINEERING EXCELLENCE ABUNDANT 60K ENGINEERS/YEAR & MOST OF THEM ARE IN PARIS TALENTED WORLD CLASS SCIENCE 13 FIELD MEDALS 9 PHYSICS NOBELS 8 CHEMISTRY NOBELS 12 MEDICINE NOBELS #2 PATENTS FILING I AFFORDABLE $50-80K for mid-level dev NOBEL PRIZE WINNER
  21. WORD CLASS INFRASTRUCTURE 1ST CYCLE HIRE SCHEME You can rent bikes easily with Velib! TRAVEL ANYWHERE 168 destinations in 93 countries SUBWAY IS PERFECT Go anywhere within 40 min max RELIABLE HIGH SPEED INTERNET Free & fast WiFi available to everyone. INTENSE MINI-CAB ACTIVITY 5 min to find a car ;) 1H BRUSSELS 2H LONDON LUXEMBOURG 3H GENEVA 4H FRANKFURT AMSTERDAM ZURICH
  22. BUSINESS IS GOOD GOODGOOD Highest number of companies in the Deloitte Technology Fast 500 ranking of any European country. 71 companies 86 companies 52 companies France is #1 European country in company creations, 550,000 in 2012.
  23. “A HONEY POT FOR TECH COMPANIES” Bloomberg
  24. FRANCE FOREIGN INNOVATION 90% market share on search 1st non German speaking market 2nd market after the US with 15,000 listings in Paris 1st launch, 1st Uber ‘Pool’ & ‘POP’ outside of the US. 500k+ users in Paris
  25. &YOU PARIS
  26. THE 7 FAMILIES YOU SHOULD KNOW 4 WHO
  27. THE KING XAVIER NIEL ONE-MAN-SILICON-VALLEY Software Is Eating the World Net Worth: $8B Free: 15M subscribers, $5 B revenue Kima ventures: most active investor in the world (350+ investments) Ecole42: Free school,1000 CS students/year Halle Freyssinet: incubator, 1000 startups
  28. THE BUSINESSMEN MARC SIMONCINI MEETIC, SENSEE, JAÏNA CAPITAL Moving Consumers JACQUES-ANTOINE GRANJON Online VENTE-PRIVEE
  29. THE MARKET MAKERS PIERRE KOSCIUSKO-MORIZET PRICEMINISTER, ISAI OLIVIER MATHIOT PRICEMINISTER JEAN-DAVID CHAMBOREDON ISAI Marketplaces Everywhere FREDERIC MAZZELLA BLABLACAR
  30. THE ALGORITHMERS JEAN-BAPTISTE RUDELLE CRITEO Granjon + Simoncini, The Businessmen PIERRE CHAPPAZ TEADS DOMINIQUE VIDAL INDEX VENTURES PASCAL GAUTHIER CRITEO Be Smarter Than Google
  31. THE DATA MASTERS Granjon + Simoncini, The Businessmen Granjon + Simoncini, The Businessmen NICOLAS STEEGMAN STUPEFLIX FLORIAN DOUETTEAU DATAÎKU JULIEN LEMOINE ALGOLIA The Bigger The Data, The Better
  32. THE HARDWARE MAKERS HENRI SEYDOUX PARROT, LOUBOUTIN Granjon + Simoncini, The Businessmen Granjon + Simoncini, The Businessmen ERIC CAREEL WITHINGS, SCULPTEO FREDERIC POTTER NETATMO When Software Meets Hardware
  33. THE EXPATRIATES FREDERIC MONTAGNON TEADS FABRICE GRINDA OLX JEFF CLAVIER SOFTTECH LOIC LE MEUR LE WEB If You Can Make it Here You Can make it Anywhere & many other high profile French founders
  34. 5 TO GET STARTED RESOURCES
  35. VCS THE 8TH ARRONDISSEMENT 5 min walk from each others!
  36. STARTUP BUILDERS
  37. COWORKING SPACES
  38. ENGINEERING SCHOOLS LOW FEES, HIGH SKILLS CS Schools Engineering Schools
  39. MULTIDISCIPLINARY EDUCATION DESIGN ART BUSINESS
  40. SERVICE PROVIDERS LAW FIRMS LAW FIRMS ACCOUNTANTS HEAD HUNTERS FUND RAISERS
  41. ACTIVE ORGANISATIONS
  42. JOURNALISTS ON THE GROUND
  43. TECH MEETUPS RUBY PARIS Let’s get news methods & business opportunities. GROWTH HACKING Learn how to sell products & gain traction. TECH TALKS Inspired by NY Tech Meetup, useful for network and education. APERO ENTREPRENEUR Exchange tips, recommendations & contacts. Every 1st Thursday of the month. https://files.slack.com/files-pri/T024YS106-F034T5FJK/growth.png LE WAGON Every Wednesday GET THE SWAG ON ,demystify coding! Inviting the best UX/UI designers to talk about their vision and achievements. INTERNET OF THINGS All about usage, design, business & new tendencies. STUDENT ENTREPRENEURS Bridging the gap between tech & business students willing to build a startup. PARIS FOUNDERS EVENT Founders only networking night by Rude Baguette. PITCH DON’T KILL MY VIBE Come test your pitch on stage and get constructive feedback. START IN PARIS Monthly demo pitch contest for startups.
  44. PLACES TO HANGOUT BREAKFAST EDGAR COFFEE DELAVILLE WORK ANTICAFE LUNCH TEMPS DES CERISES DRINKS CAFE NOIR COCKTAILS LOCKWOOD
  45. YOU’RE WELCOME IN PARIS. THANK YOU ATTRIBUTION-SHAREALIKE CREATIVE COMMONS LICENSE. CREATED BY:
  46. RESOURCES HISTORY Aurelien Belanger, La Theorie de l’Information http://www.amazon.fr/La-th %C3%A9orie-linformation-Aur%C3%A9lien-Bellanger/dp/2070138097 “6m households minitel”: By 1993, Minitel was used in 20 percent of households and 80 percent of businesses in France. http://www.openlearningworld.com/books/Information %20Technology/Chapter%208%20NETWORK%20&%20COMMUNICATIONS %20IN%20I%20T/A%20NATIONAL%20NETWORK%20INFRASTRUCTURE.html In 1995, there were 25,000 different services offered through Minitel. In 1996, Minitel terminals were accessed for 87 million hoursof connection. The profit yielded by France Telecom was six billion French Francs, about $1.2 billion. http://knowledge.e.southern.edu/cgi/viewcontent.cgi? article=1096&context=senior_research “1999 Minitel penetration > Internet”: http://www.internetlivestats.com/internet-users/united-states/ US internet penetration 43% in 2000 - France minitel penetration 40% 300 startups in Silicon Sentier: Processus mimétiques et identité collective : gloire et déclin du « Silicon Sentier » http://www.cairn.info/zen.php?ID_ARTICLE=RFS_472_0293 1 EUR : 1.23 USD as of 6th Dec 2014 Iliad market cap: EUR 11.3 B as of 6th Dec 2014 = $13.9B Xavier Niel’s net worth: $8.2 B as of June 2014 http://www.forbes.com/profile/xavier-niel/ INVESTMENT http://www.idinvest.com/en/Venture-Capital-in-France-and-Europe-publications_ 8.pdf http://www.evca.eu/media/142790/2013-European-Private-Equity-Activity.pdf http://www.chaussonfinance.com/indicateur/indicateur.htm $1B invested per year: Chausson Finance indicateurs. EUR 416+ 490 = EUR 906M = $1.1B in 700 companies: Chausson Finance indicateur: 367+412 = 779 30% software and ecommerce: Chausson Finance indicateur 17%+12% in H2 2013 and 25%+12% in H1 2013 40-50% in Paris: Chausson Finance indicateur 40% in H1 13 and 43% in H2 13 vs. UK: in 2013 GBP 841m invested in tech = $1.3B http://www.bvca.co.uk/Portals/0/library/documents/RIA%20Guides/IAR %20Autumn14-fin.pdf FUNDRAISING http://www.rudebaguette.com/2013/10/08/partech-raises-a-7th-fund-of-e160-million-eyes- on-europe-early-stage/ Blablacar: https://www.pehub.com/2014/07/blablacar-secures-100-mln-series-c-led-by-index- ventures/ $100m Sarenza: http://www.e-commercefacts.com/news/2014/06/sarenza-conquers-europe/ index.xml EUR 74m = $91m Talend: http://techcrunch.com/2013/12/11/talend-raises-40m-to-more-aggressively-extend- into-big-data-market-sets-sights-on-ipo/ $40m Withings: file:///home/chronos/u-ef45abcbfeaae4199d318ef568d5ec40724c2673/ Downloads/Withings%20PR%20-%20Fundraising%20July%2017th%202013.pdf $30m Talentsoft: http://www.finsmes.com/2013/09/talentsoft-raises-e15m.html EUR 15m: $18m Novapost: http://techcrunch.com/2014/05/15/peopledoc-nee-novapost-raises-17-5- million-to-digitalize-hr/ $17.5m Sigfox: http://www.crunchbase.com/funding-round/ c6a97abe01ab87da048c81a9f9af7ee5 EUR 15m: $18m Dashlane: http://techcrunch.com/2014/05/19/dashlane-raises-record-22m-for-its-cloud-based- password-manager-after-clocking-2m-users/ $22m Synthesio: http://techcrunch.com/2014/03/14/social-analytics-platform-synthesio-secures- 20m-series-b-from-idinvest-partners/ $20m Menlook: http://www.rudebaguette.com/2014/11/04/menlook-raised-e23-million-idinvest- conquer-male-fashion-online/ EUR 23m : $27.6 m Vestiaire Collective: http://techcrunch.com/2013/09/02/vestiaire-collective-raises-20- million-from-conde-nast-and-others-to-fuel-international-growth/ $20m Intersec: https://www.pehub.com/2014/11/intersec-attracts-20-mln-series-b/? utm_source=PE+Hub&utm_medium=twitter&utm_campaign=Feed%3A+pehub %2Fnews%2Fvc+%28PE+HUB+News+%28VC+Deals%29%29 $20m Finexcap: http://techcrunch.com/2014/11/18/finexkap-offering-working-capital-to-smbs-in- france-raises-22-5m/ $22.5m
  47. EXITS Criteo valuation: https://www.google.com/finance?cid=281026445686504 http://www.reuters.com/article/2013/10/29/criteo-ipo-idUSL3N0IJ62D20131029 $2.2B today, $1.7B at IPO - 29 Oct 2013 Neolane: https://www.adobe.com/aboutadobe/pressroom/pressreleases/ 201306/062713AdobetoAcquireNeolane.html $600m - 27 June 2013 LaFourchette: http://techcrunch.com/2014/05/07/lafourchette-gobbled-up-by-tripadvisor/ $140m - 7 May 2014 ALittleMarket: http://techcrunch.com/2014/06/23/etsy-buys-french-startup-a-little- market-in-its-largest-acquisition-so-far/ http://blogs.wsj.com/moneybeat/ 2014/06/23/etsy-acquires-french-market-in-biggest-deal-yet/ undisclosed but thought to be c. $90m - 23 June 2014 MyLittleParis: http://techcrunch.com/2013/11/22/aufeminin-acquires-subscription- service-and-city-guide-my-little-paris-for-90-million/ $90m - 22 Nov 2013 Jeuxvideo.com: http://www.himediagroup.com/en/blog/2014/06/05/webedia-acquires- jeuxvideo-com-for-90-euro-million/ EUR 90m = $109m - 6 May 2014 Allocine: http://lentreprise.lexpress.fr/high-tech-innovation/rachat-d-allocine-pourquoi- fimalac-fait-une-bonne-affaire_1523020.html EUR67m = $81m - 18 Jul 2013 Webedia: http://www.clipperton.net/transactions/webedia/ EUR 70m = $85m - 12 Sept 2013 eNovance: http://www.redhat.com/en/about/press-releases/red-hat-acquire-enovance- leader-openstack-integration-services EUR 70m = $85m - 18 Jun 2014 Capptain: http://azure.microsoft.com/blog/2014/05/28/announcing-the-acquisition- of-capptain/ undisclosed - 28 May 2014 FUND CLOSING http://www.rudebaguette.com/2013/10/08/partech-raises-a-7th-fund-of-e160- million-eyes-on-europe-early-stage/ Idinvest: http://www.idinvest.com/en/Idinvest-Partners-announces-the-initial- close-of-its-Idinvest-Digital-Fund-II-communiques_52.pdf EUR100m = $120m - 24 Oct 2013 360: http://www.rudebaguette.com/2012/10/31/360-capital-new-fund/ EUR60m = $72.1m - 31 Oct 2012 Iris: http://www.iriscapital.com/sites/default/files/Press%20Release_Iris %20Innovation%20Day.pdf EUR300m = $363m - 12 Mar 2012 Alven: http://www.rudebaguette.com/2013/03/08/alven-capital-iv/ EUR 120m = $145m - March 2013 Isai: http://www.rudebaguette.com/2013/09/02/isai-closes-its-e50-million-expansion- fund-for-acquisitions-buy-outs-growth/ EUR 50m = $61m - 2 Sept 2013 Elaia: http://www.rudebaguette.com/2012/10/29/elaia-partners-alpha-fund-seed- stage/ EUR 45m = $54m - 29 Oct 2012 Ventech: http://www.rudebaguette.com/2012/09/17/ventech-breathes-new-air- with-a-new-e75-million-fund/ EUR100m = $121m - 17 Sept 2012 Serena: http://www.rudebaguette.com/2013/09/16/serena-capital-100- million-fund/ EUR100m = $121m - 16 Sept 2013 Partech: http://www.unquote.com/unquote/official-record/2299266/partech-closes- venture-and-seed-funds EUR120 = $145m - 8 OCt 2013 TOTAL = $1.2B
  48. INFRASTRUCTURE 60k engineers: http://www.vdi.de/uploads/media/ 2010-04_IW_European_Engineering_Report_02.pdf EUR40-60k salaries: https://angel.co/jobs#find/f!%7B%22types%22%3A%5B %22full-time%22%5D%2C%22locations%22%3A%5B%22Paris%22%5D%2C %22roles%22%3A%5B%22Software%20Engineer%22%5D%7D Internet speed "Speed test results for 2013 showed an average of 8.39 Mbps download and 3.83 Mbps upload speeds" http://www.bandwidthplace.com/location/france/ Wifi hotspots: http://www.independent.co.uk/life-style/gadgets-and-tech/wifi-is-the-future- of-mobile-data-global-survey-shows-one-internet-hotspot-for-every-150- people-9835319.html 500k uber: https://action.uber.org/uberPOP_France/ Air France destinations http://en.wikipedia.org/wiki/Air_France_destinations Trains : https://www.capitainetrain.com/search/paris/luxembourg Bruxelles : 1:22, Luxembourg: 2:08, Londres: 2:26, Geneva: 3:05 Amsterdam: 3:45, Frankfurt: 3:48, Zurich: 4:03 INTERNATIONAL http://www.diplomatie.gouv.fr/en/french-foreign-policy-1/economic-diplomacy/ facts-about-france/one-figure-one-fact/article/france-is-top-in-the- ranking-of http://www.bloomberg.com/news/2014-11-16/france-a-tax-haven-yes-for-companies- from-microsoft-to-huawei.html Google market share: 91% http://www.atinternet.com/en/documents/ search-engine-barometer-july-2013/ Zalando: http://www.slideshare.net/strotmannjoerg/zalando-overview- 2014 Paris AirBb: http://blog.airbnb.com/airbnb-growth-europe/ Paris Uber: experience .. screenshots Xavier Niel Investments: 350 http://en.wikipedia.org/wiki/Xavier_Niel http://www.bloomberg.com/news/2014-06-24/tech-billionaire-made-in-france- seeds-paris-entrepreneurs.html Nest: http://www.rudebaguette.com/2014/01/21/nests-european-investor-frances- super-angel-xavier-niel/ Square: http://www.forbes.com/sites/clareoconnor/2012/03/09/french-revolutionary- is-ex-con-xavier-niel-europes-steve-jobs/5/ MEDALS & NOBELS 3 fields medals: http://www.diplomatie.gouv.fr/en/coming-to-france/facts-about-france/ one-figure-one-fact/article/13-the-number-of-french-fields 2nd in number of patents filed: http://www.diplomatie.gouv.fr/en/french-foreign-policy- 1/economic-diplomacy-foreign-trade/facts-about-france/one-figure-one-fact/ article/france-ranks-2nd-in-europe-for-the Nobel Prizes 9 physics 8 chemistery 12 medicine 3 economie http://www.nobelprize.org/nobel_prizes/country-birth-map/ map.phpfromyear=1901&toyear=2014&cat=phy&region=country
  49. ATTRIBUTIONS ICONS PICTURE Vintage Paris, Montmartre 1970s Patrice Molinard ILLUSTRATIONS CC TheFamily Bag by Parmelyn from The Noun Project

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