Three so cal start ups with successful exits lessons learned
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Stewart Easterby gave a presentation to Friday Coffee Meetup and this is his deck.
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Three so cal start ups with successful exits lessons learned
- 1. Friday Coffee Meet-Up Stewart Easterby September 22, 2017 Three SoCal Start-Ups With Successful Exits: Lessons Learned
- 2. Three SoCal Start-Ups With Successful Exits 1 Revenue the year of the IPO 2 Revenue the year prior to the acquisition or trailing twelve months for TrueCar Company Initial Public Offering (“IPO”) Present Day Name Founded Business Ticker Year Revenue1 Status Value Revenue2 Hot Topic 1988 Counter-Culture Retailer HOTT 1996 $44 M Acquired by PE Firm in 2013 $600 M $742 M Overture Services 1996 Paid Search Pioneer GOTO / OVER 1999 $26 M Acquired by Yahoo in 2003 $1.8 B $667 M TrueCar 2005 Online Car Buying Platform TRUE 2014 $206 M Publicly Traded $1.6 B $307 M 2
- 3. Association With These Companies Associate at Venture Capital Firm (Lead Investor) Just happy to be here Vice President, Ad Sales Operations Meddling in the middle Chief Operating Officer Making decisions?? 3
- 4. Seek Pent-Up Demand Before You Jump In Create Realistic Business Plan Simplify Your Other Life 4
- 5. Overextend The Business Common Self-Inflicted Wounds Dismiss Competition Ignore Compliance 5 In Box
- 6. Thou Shall Not … Assume Can Raise Prices Obsess Over Valuation Rationalize1 Talent Mistakes2 1 As in “attempt to explain or justify” 2 Brilliant jerks, tyrants, bad bosses, presiders, backstabbers, self-dealers, information hoarders, “friends of”, glory days-ers, resters & vesters, funny failures and / or toxic avengers 6
- 7. Thou Shall … Stay Capitalized Be Ready For 10X+ Tomorrow Rationalize1 Talent Mistakes2 1 As in “eliminate to make better” 2 Brilliant jerks, tyrants, bad bosses, presiders, backstabbers, self-dealers, information hoarders, “friends of”, glory days-ers, resters & vesters, funny failures and / or toxic avengers 7
- 8. Getting It DoneThe Team Some Favorite Quotes If you’re offered a seat on a rocket ship, don’t ask what seat. Just get on. Eric Schmidt to Sheryl Sandberg Culture eats strategy for breakfast. Peter Drucker The team with the best players wins. Jack Welch You may have to fight a battle more than once to win it. Margaret Thatcher That which is measured, improves. Karl Perason Complaining about a problem without proposing a solution is called whining. Theodore Roosevelt 8
- 9. Thank You! 9