P. 1
Ao.vssv08.Mag.topdealmakers.v03

Ao.vssv08.Mag.topdealmakers.v03

4.0

|Views: 164|Likes:
Published by AlwaysOn
In the technology finance ecosystem, what makes a dealmaker? And who are the biggest and best ones? With our second annual AlwaysOn Top Dealmakers list,we have tried to map this. To do so, we asked the opinions of the best minds in the business and compiled lots of resulting data. In the end, we came up with these movers and shakers in the technology finance area. With this list, we offer you a snapshot of the organizations driving today’s technology IPO and M&A activity, what’s happening in the market, and the people making it happen.

These rankings were based on myriad sources of information—including, most notably, the size and number of both M&As and IPOs of the past 12 months as well as the number and size of investments managed. However, there are varying levels of transparency along the technology finance food chain.

While diligent searching among public records yielded many insights, for some of the less disclosure-oriented categories, we depended on editorial judgment and information from those inside the industry. In addition, we held discussions with analysts to identify some of the highest-profile deals of the last year with the greatest impact on the tech sector.
In the technology finance ecosystem, what makes a dealmaker? And who are the biggest and best ones? With our second annual AlwaysOn Top Dealmakers list,we have tried to map this. To do so, we asked the opinions of the best minds in the business and compiled lots of resulting data. In the end, we came up with these movers and shakers in the technology finance area. With this list, we offer you a snapshot of the organizations driving today’s technology IPO and M&A activity, what’s happening in the market, and the people making it happen.

These rankings were based on myriad sources of information—including, most notably, the size and number of both M&As and IPOs of the past 12 months as well as the number and size of investments managed. However, there are varying levels of transparency along the technology finance food chain.

While diligent searching among public records yielded many insights, for some of the less disclosure-oriented categories, we depended on editorial judgment and information from those inside the industry. In addition, we held discussions with analysts to identify some of the highest-profile deals of the last year with the greatest impact on the tech sector.

More info:

Published by: AlwaysOn on Nov 25, 2008
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

05/09/2014

pdf

text

original

VC & Money

n the technology finance ecosystem, what makes a dealmaker? And who are the biggest and best ones? With our second annual AlwaysOn Top Dealmakers list, we have tried to map this. To do so, we asked the opinions of the best minds in the business and compiled lots of resulting data. ¶ In the end, we came up with these mover and shakers in the technology finance area. With this list, we offer you a snapshot of the organizations driving today’s technology IPO and M&A activity, what’s happening in the market, and the people making it happen. These rankings were based on myriad sources of information—including, most notably, the size and number of both M&As and IPOs of the past 12 months as well as the number and size of investments managed. However, there are varying levels of transparency along the technology finance food chain. While diligent searching among public records yielded many insights, for some of the less disclosure-oriented categories, we depended on editorial judgment and information from those inside the industry. In addition, we held discussions with analysts to identify some of the highest-profile deals of the last year with the greatest impact on the tech sector. This list wouldn’t have come together without help from Morgan Stanley, the 451 Group, Liquid Scenarios, and all others who provided data and viewpoints. Thank you. Naturally, we expect this list to generate conversation as well as some controversy. We’re looking forward to your comments at alwayson.goingon.com and following this year’s Venture Summit Silicon Valley in Half Moon Bay, CA, where we’ll be honoring these movers and shakers.

I

Our second annual list of movers and shakers in technology finance.

28 | A LWAYSON | V E NT U RE S U MMI T S I L I C O N VA L L E Y 2 0 0 8

Angel Investors
Angel investors provide fledgling companies with seed capital, as well as useful introductions and advice, all in exchange for shares in the company. Our selection criteria included how many investments this year’s angels have made in successful startups that transformed their markets.
✱ angel investors ✱

Here is a snapshot of the biggest deals with the greatest impact over the last year in the technology sector. With only a few choice technology IPOs this year, the big news was in M&A. This year we’ve included public company M&A, as several long-standing companies were snapped up by corporate behemoths.

U.S.Technology IPOs
SePtember 2007 - AuguSt 2008
iSSuer / TICKER DeAL Size ($MM) CTCT iPO DAte BOOkruNNerS

Constant Contact 3PAr
PAR

$123 $108

10/2/07 11/15/07 11/15/07 10/9/07 2/13/08 12/13/07 11/1/07

Oppenheimer & Co., Thomas Weisel Partners Goldman Sachs, Credit Suisse UBS Morgan Stanley Morgan Stanley Goldman Sachs Cowen and Co., Thomas Weisel Partners

rubicon technology

RBCN CML

$108 $93 $62 $51
SDBT

now with: Angel Investors notable investments: Google, PayPal,

Ron Conway

People

Compellent technologies ArcSight intellon
ARST ITLN

SoundBite Communications

$42

Ask.com

ao list Company investments: 10

now with: Ning notable investments: Digg, Twitter,

maRC andReessen

CastTV, Qik

Top Technology and Media M&As
SePtember 2007 - AuguSt 2008
tArget COMPANY ACquiriNg COMPANY DeAL Size ($MM) DAte ANNOuNCeD iNDuStrY

ao list Company investments: 5

now with: LinkedIn notable investments: Facebook, Digg, Kon-

Reid hoffman

gregate, Zynga

ao list Company investments: 2

Private Company M&A
equalLogic MySqL AB generations Network Maven Networks qumranet Dell Sun Microsystems Spectrum eq investors Yahoo! red Hat 1,400 $794 $300 $160 $107 11/5/07 1/16/08 10/17/07 2/12/08 9/4/08 Enterprise Software Internet Internet Software

now with: Clarium Capital Management notable investments: PayPal, Facebook,

peteR thiel

Clickable

ao list Company investments: 2

now with: Maples Investments notable investments: Motive, Odeo, Digg ao list Company investments: 2

mike maples

now with: News Corp. notable investments: Spot Runner ao list Company investments: 2

laChlan muRdoCh

Public Company M&A
Activision BeA Systems NAVteq Business Objects Alltel SanDisk Cognos Clearwire Foundry Networks Diebold 3Com CNet Networks Vivendi Oracle Nokia Systeme Anwendungen Produkte Verizon Wireless Samsung electronics Co. iBM investor group Brocade Communication Systems united technologies investor group CBS 9,851 8,056 7,954 6,079 5,900 5,850 4,964 3,200 2,896 2,632 2,162 1,808 12/2/07 10/12/07 10/1/07 10/7/07 6/5/08 9/16/08 11/12/07 5/7/08 7/21/08 3/3/08 9/28/07 5/15/08 Software Software Software Software Communications Semi Software Internet Communications Hardware Communications Internet

now with: Hearst Corp. notable investments: Fora.TV, Revver ao list Company investments: 4

william Randolph heaRst iii

now with: SpaceX notable investments: PayPal, Tesla Motors ao list Company investments: 3

elon musk

now with: Six Apart notable investments: Technorati, Last.fm,

Joi ito

Wikia, Kongregate

ao list Company investments: 1

now with: 500 Hats notable investments: Simply Hired, Teach-

dave mCCluRe

Street, Mill River Labs

V E NTUR E S UM M IT S ILIC ON VA LLE Y 2 0 0 8 | ALWAY SO N | 29

VC & Money

Once a company has a business plan and a product, it needs to productize the concept, hire a sales force, build a channel, and bring those products to market. Until the company is profitable, gets acquired, or raises public equity through an IPO, its operating capital comes from venture investors.
✱ venture Capitalists ✱

venture capitalists
Firms
mayfield fund
www.MAyfIeld.cOM
founded: 1969 Cfo and managing diReCtoR: James Beck 2008 poRtfolio ipos: 1 total ipo value: $108M 2008 m&as: 8 total m&a value: $283 ao 2008 list Companies invested in: 10

aCCel paRtneRs
www.Accel.cOM
founded: 1983 Co-foundeR and geneRal paRtneR: James

Redpoint ventuRes
www.redPOInT.cOM
founded: 1999 founding paRtneR: Jeffrey Brody 2008 m&as: 4 total m&a value: $678M ao 2008 list Companies invested in: 8

dRapeR fisheR JuRvetson

www.dfj.cOM
founded: 1985 foundeR and managing diReCtoR: Tim Draper 2008 poRtfolio ipos: 2 total ipo value: $202M 2008 m&as: 8 total m&a value: $550M ao 2008 list Companies invested in: 28

Swartz

2008 m&as: 3 total m&a value: $360M ao 2008 list Companies invested in: 17

benChmaRk Capital
www.benchMArk.cOM
founded: 1995 geneRal paRtneRs: Alex Balkanski, Matt

doll Capital management (dCm)
www.dcMvc.cOM
founded: 1996 Co-foundeRs and geneRal paRtneRs: David

bessemeR ventuRe paRtneRs
www.bvP.cOM
founded: 1911/1975 managing paRtneRs and Coo: J. Edmund Col-

loton

sequoia Capital
www.SeqUOIAcAP.cOM
founded: 1972 founding paRtneR: Don Valentine 2008 poRtfolio ipos: 2 total ipo value: $187M 2008 m&as: 12 total m&a value: $517M ao 2008 list Companies invested in: 17

Cohler, Bruce Dunlevie, Peter Fenton, Bill Gurley, Kevin Harvey, Bob Kagle, Mitch Lasky, Steve Spurlock 2008 poRtfolio ipos: 1 2008 m&as: 4 total m&a value: $1,700M ao 2008 list Companies invested in: 15

Chao, Dixon Doll

2008 poRtfolio ipos: 3 2008 m&as: 1 total m&a value: $380M ao 2008 list Companies invested in: 1

2008 m&as: 1 total m&a value: $800M ao 2008 list Companies invested in: 6

u.s. ventuRe paRtneRs
www.USvP.cOM
founded: 1981 founding paRtneR: William Bowes 2008 m&as: 3 total m&a value: $722M ao 2008 list Companies invested in: 2

index ventuRes
www.IndexvenTUreS.cOM
founded: 1971 founding paRtneR: David Rimer 2008 m&as: 3 total m&a value: $1,000M ao 2008 list Companies invested in: 11

noRwest ventuRe paRtneRs
www.nvP.cOM
founded: 1961 managing paRtneRs: Promod Haque, George

kleineR peRkins Caufiled & byeRs
www.kPcb.cOM
founded: 1972 2008 poRtfolio ipos: 1 total ipo value: $62M 2008 m&as: 2 ao 2008 list Companies invested in: 17

batteRy ventuRes
www.bATTery.cOM
founded: 1984 foundeR: Rick Frisbie total m&a value: $800M ao 2008 list Companies invested in: 3

Still

2008 poRtfolio ipos: 1 total ipo value: $187M 2008 m&as: 6 total m&a value: $839M ao 2008 list Companies invested in: 7

highland Capital paRtneRs
www.hcP.cOM
founded: 1988 foundeRs: Paul Maeder, Bob Higgins 2008 m&as: 4 total m&a value: $953M ao 2008 list Companies invested in: 6

new enteRpRise assoCiates
www.neA.cOM
founded: 1978 managing geneRal paRtneR: Peter Barris 2008 poRtfolio ipos: 2 total ipo value: $155M 2008 m&as: 1 ao 2008 list Companies invested in: 15

Revolution paRtneRs
www.revOlUTIOnPArTnerS.cOM
founded: 2001 Co-foundeRs and managing diReCtoRs: Peter

gReyloCk paRtneRs
www.greylOck.cOM
founded: 1965 ChaiRman: Henry McCance 2008 poRtfolio ipos: 3 total ipo value: $339M 2008 m&as: 8 total m&a value: $170M ao 2008 list Companies invested in: 6

ChaRles RiveR ventuRes
www.crv.cOM
founded: 1970 paRtneR and C-foundeR: Rick Burnes 2008 m&as: 2 total m&a value: $1,650M ao 2008 list Companies invested in: 7

menlo ventuRes
www.MenlOvenTUreS.cOM
founded: 1976 foundeR and managing diReCtoR: H. DuBose

Falvey and David Lavallee 2008 m&as: 10 total m&a value: $392M

ao 2008 list Companies invested in: 1

madRona ventuRe gRoup
www.MAdrOnA.cOM
founded: 1995 Co-foundeRs and managing paRtneRs: Tom

Montgomery

2008 poRtfolio ipos: 1 total ipo value: $108 2008 m&as: 7 ao 2008 list Companies invested in: 5

Alberg and Paul Goodrich 2008 m&as: 3 total m&a value: $625M

ao 2008 list Companies invested in: 1

30 | A LWAYSON | V E NT U RE S U MMI T S I L I C O N VA L L E Y 2 0 0 8

fiRst Round Capital
www.fIrSTrOUnd.cOM
founded: 2004

maRk siegel
MAnAgIng dIrecTOr, MenlO venTUreS
the big deal: 3PAR

Partners: Josh Kopelman, Chris Fralic, Rob Hayes, Howard Morgan 2008 m&as: 1 total m&a value: $36M ao 2008 list Companies invested in: 10

feaRghal o’RioRdain
PArTner, ScOTTISh eqUITy PArTnerS
the big deal: Diligent Technologies

matRix paRtneRs
www.MATrIxPArTnerS.cOM
founded: 1977 foundeRing geneRal paRtneR: Paul Ferri 2008 m&as: 1 total m&a value: $200M ao 2008 list Companies invested in: 5

david Chao
cO-fOUnder And generAl PArTnerS, dOll cAPITAl MAnAgeMenT (dcM)
the big deal: Sling Media

Private equity
Private equity, or leveraged buyout, firms take public companies private or buy their stock with the goal of turning them around and selling them.
CaRlyle gRoup
www.cArlyle.cOM
founded: 1987 ChaiRman: Louis Gerstner total teCh tRansaCtions 9/07 to 10/08: total $ value of those tRansaCtions:

danny RimeR
cO-fOUnder, Index venTUreS
the big deal: MySQL

vantagepoint ventuRe paRtneRs
www.vPvP.cOM
founded: 1995 managing paRtneRs: Alan Salzman and Jim

bob davis
generAl PArTnerS, hIghlAnd cAPITAl PArTnerS
the big deal: Quigo

stone point Capital
www.STOnePOInT.cOM
ChaiRman: Stephen Friedman total teCh tRansaCtions 9/07 to 10/08: 1 total $ value of those tRansaCtions: $540M

Marver

2008 m&as: 1 ao 2008 list Companies invested in: 16

ChRis baldwin
generAl PArTner, chArleS rIver venTUreS
the big deal: EqualLogic

2

$1,266.6M

fiRst ReseRve CoRp .
www.fIrSTreServe.cOM
founded: 1984 ChaiRman and Ceo: William E. Macaulay total teCh tRansaCtions 9/07 to 10/08: 1 total $ value of those tRansaCtions: $396.5M

lightspeed ventuRe paRtneRs
www.lIghTSPeedvP.cOM
founded: 1971 geneRal and founding paRtneRs: Barry Eggers,

Jeff bRody
fOUndIng PArTner, redPOInT venTUreS
the big deal: Danger

goRes gRoup
www.gOreS.cOM
founded: 1987 foundeR, ChaiRman,and Ceo: Alec Gores total teCh tRansaCtions 9/07 to 10/08: 2 total $ value of those tRansaCtions:

Rhavi Matre, Peter Nieh, Chris Schaepe 2008 m&as: 2 ao 2008 list Companies invested in: 8
✱ venture Capitalists ✱

RobeRt goodman
MAnAgIng PArTner, beSSeMer venTUre PArTnerS
the big deal: BladeLogic

$1,103.4M

People
andRew buRgess
MAnAgIng dIrecTOr, cArlyle grOUP
notable deal: De La Rue ($706.6M)

✱ private equity ✱

People

tim ConnoRs
generAl PArTner, U.S. venTUre PArTnerS
the big deal: Trovix, Adify

thoma CRessey bRavo
www.ThOMAbrAvO.cOM
founded: 1980 managing paRtneRs: Orlando Bravo, Scott

tim dRapeR
MAnAgIng dIrecTOr, drAPer fISher jUrveTSOn

dave taboRs
generAl PArTner, bATTery venTUreS
the big deal: BladeLogic title, Company: Managing Director, Revolu-

sameeR gandhi
PArTner, Accel PArTnerS
the big deal: Gracenote

Crabill, Lee M. Mitchell, Carl D. Thoma total teCh tRansaCtions 9/07 to 10/08: 2 total $ value of those tRansaCtions: $269.9M

steve yageR
SenIOr MAnAgIng dIrecTOr, gOreS grOUP
notable deal: Sagem Communications

miChael baRkeR

kohlbeRg kRavis RobeRts & Co.
www.kkr.cOM
founded: 1976 Co-ChaiRmen and Co-Ceos: Henry Kravis,

($552.4M)

pRomod haque
MAnAgIng PArTnerS, nOrweST venTUre PArTnerS
the big deal: Yipes

oRlando bRavo
MAnAgIng PArTner, ThOMA creSSey brAvO
notable deal: CodeGear ($24.5M)

tion Partners The big deal: Stratify

matt mCilwain
MAnAgIng dIrecTOr, MAdrOnA venTUre grOUP
the big deal: World Wide Packets, Farecast

George Roberts $1,919.6M

bill kaiseR
PArTner, greylOck PArTnerS
the big deal: Constant Contact, Cybertrust

total teCh tRansaCtions 9/07 to 10/08: 1 total $ value of those tRansaCtions:

todd fisheR
PArTner And MAnAgIng dIrecTOr, kOhlberg krAvIS rOberTS & cO.
notable deal: Northgate Info Solutions

kevin fong
fOrMerly MAnAgIng dIrecTOr, MAyfIeld fUnd
the big deal: 3PAR

Josh kopelman
PArTner, fIrST rOUnd cAPITAl

adams stReet paRtneRs
www.AdAMSSTreeTPArTnerS.cOM
founded: 1972 Ceo: T. Bondurant French

($1,919.6M)

david welsh
PArTner, AdAMS STreeT PArTnerS

david R. skok
generAl PArTner, MATrIx PArTnerS
the big deal: Diligent Technologies

silveR lake paRtneRs
www.SIlverlAke.cOM
founded: 1999 exeCutive ChaiRman and Co-foundeR: Jim David-

miChael bingle
MAnAgIng dIrecTOr, SIlver lAke PArTnerS
notable deal: Gerson Lehrman Group

kevin haRvey
generAl PArTner, benchMArk cAPITAl
the big deal: MySQL

eRiC veR ploeg
MAnAgIng dIrecTOr, vAnTAgePOInT venTUre PArTnerS
the big deal: OZ Communications

son

($200M)

ted sChlein
PArTner, kleIner PerkInS cAUfIeld & byerS
the big deal: ArcSight

total teCh tRansaCtions 9/07 to 10/08: 2 total $ value of those tRansaCtions: $385M

buddy gumina
PArTner, APAx PArTnerS wOrldwIde
notable deal: TriZetto Group ($1,364..4M)

baRRy eggeRs
foundeR, lightspeed ventuRe paRtneRs the big deal: Calista

apax paRtneRs woRldwide
www.APAx.cOM
founded: 1971 Co-foundeR and ChaiRman: Ronald Cohen total teCh tRansaCtions 9/07 to 10/08: 1 total $ value of those tRansaCtions:

sCott sandell
generAl PArTner, new enTerPrISe ASSOcIATeS
the big deal: Data Domain

RaJiv ghatalia
MAnAgIng dIrecTOr, wArbUrg PIncUS
notable deal: Chunghwa Picture Tubes

($250M)

$1,601.5M

ChuCk davis
ceO, STOne POInT cAPITAl
notable deal: Fiserv Insurance Solutions

waRbuRg pinCus
www.wArbUrgPIncUS.cOM
founded: 1939 Co-pResidents: Charles R. Kaye, Joseph

($205M)

PLandy .

fRanCesCo giuliani
dIrecTOr, fIrST reServe cOrP
notable deal: Gamesa ($396.5M)

total teCh tRansaCtions 9/07 to 10/08: 1 total $ value of those tRansaCtions: $250M

V E NTUR E S UM M IT S ILIC ON VA LLE Y 2 0 0 8 | ALWAY SO N | 31

VC & Money

Investment bankers
ing the deal and providing acquisition capital. There are three tiers of investment banks. The bulge brackets are large, global financial service companies that combine commercial banking, investment banking, and sometimes insurance services. The middle market and boutique banks are generally not affiliated with commercial banks.
✱ investment bankers ✱

When the time is right to take a company public or sell it, it works with investment banks. Investment banks underwrite IPOs—helping prepare the prospectus, setting the share price, promoting the company to institutional investors, and once it’s public, providing analyst coverage of the stock to keep public investors up to date on financial performance. During an M&A, they act as advisors to either party, structur-

bulge bracket: Firms
moRgan stanley
www.MOrgAnSTAnley.cOM
founded: 1935 managing diReCtoR: Michael Grimes 2007-2008 teCh ipos: 6 total teCh ipo $ value: $883M 2007-2008 teCh m&as: 32 total teCh m&a value: $36,138M

CitigRoup
www.cITIgrOUP.cOM
founded: 1812/1998 head of teChnology: Ben Druskin 2007-2008 teCh ipos: 2 total teCh ipo $ value: $143M 2007-2008 teCh m&as: 19 total teCh m&a value: $27,317

geoRge lee
MAnAgIng dIrecTOr, gOldMAn SAchS
of inteRest: Lee gained his reputation as

bRyCe lee
MAnAgIng dIrecTOr, credIT SUISSe
of inteRest: Sitting at number 19 on the

a tech investment banker by serving household name clients such as eBay, Microsoft, Expedia, Adobe, and Baidu. In 2008, he rose to number 46 from 57 on the Forbes Midas List.

2008 Forbes Midas List, Lee focuses on green tech at Credit Suisse. Notable IPOs include EnerNoc, First Solar, and Suntech as well as Chinese Internet companies Perfect World and Baidu.

CRedit suisse
www.credIT-SUISSe.cOM
founded: 1856 managing diReCtoR: Bryce Lee 2007-2008 teCh ipos: 9 total teCh ipo $ value: $1.657B 2007-2008 teCh m&as: 12 total teCh m&a value: $5,335M

John metz
MAnAgIng dIrecTOr And U.S. heAd Of cOMMUnIcATIOnS bAnkIng, UbS
of inteRest: UBS nabbed Metz this year

paul inouye
PArTner, PerellA weInberg PArTnerS
of inteRest: Inouye was formerly a man-

goldman saChs
www.gS.cOM
founded: 1869 managing diReCtoR: George Lee 2007-2008 teCh ipos: 4 total teCh ipo $ value: $629M 2007-2008 teCh m&as: 28 total teCh m&a value: $58,923M

lehman bRotheRs
www.lehMAn.cOM
founded: 1850 (dissolved 2008) managing diReCtoR: Paul Innouye 2007-2008 teCh ipos: 2 total teCh ipo $ value: $314M 2007-2008 teCh m&as: 19 total teCh m&a value: $16,638M

from Credit Suisse to ramp up its technology M&A. While with Credit Suisse, he led Netezza’s $124M IPO in 2007, bringing the offering to the NYSE Arca instead of NASDAQ.

aging directory at Lehman Brothers, where he was responsible for its Internet practice. Inouye has advised eBay, CNet, aQuantive, and WebMD as well as headed Internet investments for Morgan Stanley and Piper Jaffray.

geoRge h. young iii
heAd Of TechnOlOgy, MedIA And TelecOMMUnIcATIOnS InveSTMenT bAnkIng, MerrIll lynch
of inteRest: Merrill Lynch snapped up

maRk zanoli
MAnAgIng dIrecTOr, jPMOrgAn
of inteRest: Zanoli has been working in

ubs waRbuRg
www.UbS.cOM
founded: 1747/1998 us head of CommuniCations banking: John

Metz

JpmoRgan
www.jPMOrgAnchASe.cOM
founded: 1799/1895 managing diReCtoR: Mark Zanoli 2007-2008 teCh m&as: 11 total teCh m&a value: $12,212M

2007-2008 teCh ipos: 3 total teCh ipo $ value: $1.627B 2007-2008 teCh m&as: 33 total teCh m&a value: $20,813M

Young from Lehman Brothers in 2007, where he was head of the Global Communications group. While at Lehman, Young advised on AT&T’s $90B acquisition of BellSouth, Verizon’s sale of its Latin American businesses, Cingular’s $47B merger with AT&T Wireless, SBC’s $22B merger with AT&T, and Sprint’s $46.5B merger with Nextel.

JPMorgan’s alternative energy group, focusing on emerging cleantech companies since 2007.

Full-Service: Firms
JeffeRies & Company
www.jerfferIeS.cOM
founded: 1962 viCe ChaiRman: Paul Deninger teCh m&as 9/07-9/08: 126 total teCh m&a value: $38,462.3M

✱ investment bankers ✱

meRRill lynCh
www.Ml.cOM
founded: 1914 head of teChnology, media and teleCommuniCations investment banking: George H. Young III 2007-2008 teCh m&as: 17 total teCh m&a value: $25,835M

toR bRaham

bulge bracket: People
miChael gRimes
MAnAgIng dIrecTOr, MOrgAn STAnley
of inteRest: Known for leading Google’s

✱ investment bankers ✱

MAnAgIng dIrecTOr, deUSTche bAnk

ben dRuskin,
cO-heAd Of TechnOlOgy, MedIA And TelecOMMUnIcATIOnS, cITIgrOUP
of inteRest: Druskin took over the technol-

william blaiR & Co.
www.wIllIAMblAIr.cOM
founded: 1935 pResident and Ceo: John R Ettelson 2007-2008 teCh m&as: 126 total teCh m&a value: $10,370M

deutsChe bank
www.db.cOM
founded: 1870 managing diReCtoR: Tor Braham 2007-2008 teCh ipos: 3 total teCh ipo $ value: $399M 2007-2008 teCh m&as: 21 total teCh m&a value: $17,061

IPO, Grimes has also participated in other high-profile IPOs, such as Accenture, Atheros, Cymer, @Home Networks, Brocade, Extreme Networks, Omniture, SanDisk, Seagate Technology, and VeriSign.

ogy, media, and telecommunications group earlier this year and will continue to head the technology group and work on both mergers and financings. Druskin worked with Varelas last year on the buyout of Affiliated Computer Services as well as working with Accenture, EDS, Fujitsu, Hewlett-Packard, IBM, Infosys, and Wipro.

banC of ameRiCa seCuRities
cOrP.bAnkOfAMerIcA.cOM
founded: 1998 managing diReCtoR: Rex Sherry

32 | A LWAYSON | V E NT U RE S U MMI T S I L I C O N VA L L E Y 2 0 0 8

teCh m&as 9/07-9/08: 12 total teCh m&a value: $9,482.3M

adam blaCkman
MAnAgIng dIrecTOr, bAnc Of AMerIcA SecUrITIeS
of inteRest: Blackman came to Banc of

teCh m&as 9/07-9/08: 50 total teCh m&a value: $15,387.6M

also advised on the sale of Advanced Power Technologies.

beaR steRns
www.beArSTeArnS.cOM
founded: 1923 (dissolved 2008) managing diReCtoR: Adam Blackman teCh m&as 9/07-9/08: 3 total teCh m&a value: $662M

JoRdan edmiston gRoup
www.jegI.cOM
founded: 1987 manging diReCtoR: Tolman Geffs teCh m&as 9/07-9/08: 20 total teCh m&a value: $1,267M founded: 1922 teCh m&as 9/07-9/08: 4 total teCh m&a value: $6,900,000M

tolman geffs
MAnAgIng dIrecTOr, jOrdAn edMISTOn grOUP
of inteRest: Geffs represents online media,

America as co-head of business and technology services from Bear Stearn’s media group in June of this year.

Rex sheRRy
PArTner And cO-heAd Of weST cOAST InveSTMenT bAnkIng, AMerIcA’S grOwTh cAPITAl
of inteRest: A former managing director at

montgomeRy & Co.
www.MOnTy.cOM
founded: 1986 foundeR and Ceo: James W. Montgomery 2007-2008 teCh m&as: 33 total teCh m&a value: $1,675.677M

allen & Co.

interactive marketing services, and technology companies, as well as broader media businesses seeking to expand in high-growth new media markets.

Bear Stearns, Sherry was co-head of its West Coast Technology Banking Group. He currently heads AGC’s west coast efforts.

stan shuman and nanCy peRetsman
MAnAgIng dIrecTOrS, Allen & cO.

pagemill paRtneRs
www.PMIb.cOM
founded: 2005 managing diReCtoR: Scott Munro teCh m&as 9/07-9/08: 19 total teCh m&a value: $448,875M

Raymond James & assoCiates
www.rAyMOndjAMeS.cOM
founded: 1962 managing diReCtoR: Charles Uhrig 2007-2008 teCh m&as: 4 total teCh m&a value: $2,776M

James w. montgomeRy
fOUnder And ceO, MOnTgOMery & cO.
of inteRest: Montgomery is currently

sCott munRo
fOUnder And MAnAgIng dIrecTOr, PAgeMIll PArTnerS
of inteRest: Munro co-manages the Page-

needham & Company
www.needhAMcO.cOM
founded: 1985 Ceo and head of investment banking: John J.

focused on the strategic growth and direction of the firm. He also serves as CEO of Digital Coast Ventures, an affiliated investment vehicle, and was a founder of VC firm Palomar Ventures.

Revolution paRtneRs
www.revOlUTIOnPArTnerS.cOM
founded: 2001 managing diReCtoR: Michael Barker teCh m&as 9/07-9/08: 8 total teCh m&a value: $542,200M

ChaRles uhRig
MAnAgIng dIrecTOr, cO-heAd Of TechnOlOgy & TelecOMMUnIcATIOnS grOUP, rAyMOnd jAMeS & ASSOcIATeS
of inteRest: Uhrig joined Raymond James

mill’s Software Practice and has completed more than 25 transactions in the last three years, including two sales to IBM (DataMirror and Net Integration), one to Microsoft ( AdECN), one to Sun Micro (Tarantella), and one to IAC (Bloglines).

david lavallee
cO-fOUnder And MAnAgIng dIrecTOr, revOlUTIOn PArTnerS
of inteRest: Lavallee has executed several

Prior, Jr.

duff & phelps
www.dUffAndPhelPS.cOM
founded: 1932 managing diReCtoR: Greg Franceschi teCh m&as 9/07-9/08: 2 total teCh m&a value: $730,000M

teCh m&as 9/07-9/08: 10 total teCh m&a value: $862.56M

sandleR o’neill and paRtneRs
www.SAndlerOneIll.cOM
founded: 1988 pRinCipal and Co-head of investment banking:

& Associates in 1988 and has been involved in numerous public and private offerings and M&As. Prior to joining Raymond James, Uhrig worked as a CPA with Price Waterhouse in Miami.

John J. pRioR, JR.
ceO And heAd Of InveSTMenT bAnkIng, needhAM & cOMPAny
of inteRest: Prior joined Needham & Com-

pali Capital
www.PAlI.cOM
founded: 1995 managing diReCtoR and head of investment banking: David Boris teCh m&as 9/07-9/08: 1 total teCh m&a value: $700,000M

William F Hickey

innovative financings for technology companies including Citrix, GartnerGroup, Allaire, Silknet, Manhattan Associates, and VistaPrint. He also worked on numerous M&As in the software industry during his tenure, including a $4.2 billion transaction, the third largest software acquisition in history.

2007-2008 teCh m&as: 2 total teCh m&a value: $9,459.5M

waChovia
www.wAchOvIA.cOM
founded: 1879/2001 Co-head, CoRpoRate and investment banking:

pany in 1996 from Lehman Brothers, where he was a managing director in the Investment Banking Division.

gReg fRanCesChi
MAnAgIng dIrecTOr, dUff & PhelPS
of inteRest: Franceschi is in charge of the

william f. hiCkey
PrIncIPAl And cO-heAd Of InveSTMenT bAnkIng, SAndler O’neIll
of inteRest: Hickey is responsible for pro-

updata paRtneRs ventuRe Capital
www.UPdATA.cOM
founded: 1987 managing paRtneR, pResident,and Co-foundeR:

firm’s Financial Reporting Valuation practice.

Steve Cummings

david boRis
SenIOr MAnAgIng dIrecTOr And heAd Of InveSTMenT bAnkIng, PAlI cAPITAl
of inteRest: Prior to joining Pali, Boris was

2007-2008 teCh m&as: 7 total teCh m&a value: $1,926.1M

ameRiCa’s gRowth Capital
www.AMerIcASgc.cOM
founded: 2003 head of west Coast investment banking: Jeff

viding M&A and general strategic planning advice for community banks nationwide.

Ira Cohen

teCh m&as 9/07-9/08: 11 total teCh m&a value: $221,877M

steve Cummings
heAd, cOrPOrATe And InveSTMenT bAnkIng, wAchOvIA
of inteRest: Cummings is responsible for

desilva & phillips
www.MedIAbAnkerS.cOM
founded: 1996 paRtneR: Jay MacDonald teCh m&as 9/07-9/08: 6 total teCh m&a value: $60,000M

a founding member and managing director of Morgan Joseph & Co, where he was head of both the Financial Sponsors and Media Groups.

Harmon

2007-2008 teCh m&as: 11 total teCh m&a value: $533.2M

iRa Cohen
MAnAgIng PArTner, PreSIdenT, And cOfOUnder, UPdATA PArTnerS venTUre cAPITAl
of inteRest: Cohen has advised on more

Full-Service: People
paul deningeR
vIce chAIrMAn, jeffrIeS & cOMPAny
of inteRest: Deninger has personally

✱ investment bankers ✱

providing executive leadership to corporate and investment banking including investment banking, M&A, fixed income, equities, real estate, principal investing, capital finance, treasury services, and global financial institutions and trade services.

admedia paRtneRs
www.AdMedIAPArTnerS.cOM
founded: 1990 managing diReCtoR: Seth Alpert teCh m&as 9/07-9/08: 5

than 200 M&A transactions and has extensive experience within the IT services and various software sectors.

Jeff haRmon
heAd Of weST cOAST InveSTMenT bAnkIng, AMerIcA’S grOwTh cAPITAl
of inteRest: Harman was named head of

Jay maCdonald
PArTner, deSIlvA & PhIllIPS
of inteRest: MacDonald joined DeSilva

advised on more than 125 M&A transactions and numerous IPOs. He has served on the boards of several public and private technology companies and has been a member of the World Economic Forum since 1996.

west coast investment banking for AGC in 2007, where he focuses on emerginggrowth technology sectors and leads the firm’s efforts from its west coast location.

boutiques: People
Jason hutChinson
MAnAgIng dIrecTOr And heAd Of The TechnOlOgy grOUP, hOUlIhAn lOkey hOwArd & zUkIn
of inteRest: Hutchinson specializes in M&A

✱ investment bankers ✱

& Phillips in 2004. His notable deals include the sales of Falk AG to DoubleClick and FranchiseGator to aQuantive. In 2006, he advised on the sale of All Star Directories to Austin Ventures and the purchase by InfoUSA of Opinion Research Corp.

John R. ettelson
PreSIdenT And ceO, wIllIAM blAIr & cOMPAny
of inteRest: Ettelson joined the firm in

boutiques: Firms
houlihan lokey howaRd & zukin
www.hlhz.cOM
founded: 1970 head of the teChnology gRoup: Jason Hutchin-

✱ investment bankers ✱

seth alpeRt
MAnAgIng dIrecTOr, AdMedIA PArTnerS
of inteRest: Prior to joining AdMedia Part-

1984 and has moved steadily up the ranks ever since. He has been the lead banker on many deals, including J.M. Smucker’s acquisition of Jif and Crisco from Procter & Gamble.

son

advisories, including exclusive sales, public company divestitures, leveraged buyouts, defensive advisories, and fairness opinions. His noteworthy advisory assignments include Macrovision, SSA Global, SeeBeyond, SimpleTech, Riverstone, Tekelec, and Kulicke & Soffa. He

ners he was an officer of Ziff Communications Company. His recent transactions include Range Online Media’s acquisition by Aegis Group, Big Communications by Meredith Corp., and i33 Communications by 360i.

V E NTUR E S UM M IT S ILIC ON VA LLE Y 2 0 0 8 | ALWAY SO N | 33

VC & Money

These big companies want to acquire successful startups that have a strategic fit, breakthrough technology, customer traction, or profit margin to bring to the corporate acquirer.

corporate buyers
total $ value of those investments: $765M

global tech: Firms

✱ Corporate buyers ✱

emC
www.eMc.cOM
founded: 1979 ChaiRman, pResident,and Ceo: Joseph Tucci teCh Companies invested 2008 ytd: 6 total $ value of those investments: $339.1M

licensing, VC community, and partnerships. He was one of four principal architects of HP’s merger with Compaq.

teCh Companies invested 2008 ytd: 1 total $ value of those investments: $250M

geRald hoRkan
SenIOr vIce PreSIdenT Of STrATegy, yAhOO!

heaRst CoRp .
www.heArST.cOM
founded: 1887 pResident and Ceo: Victor Ganzi teCh Companies invested 2008 ytd: 2 total $ value of those investments: $100M

miCRosoft

www.MIcrOSOfT.cOM
founded: 1975 Ceo: Steve Ballmer teCh Companies invested 2008 ytd: 13 total $ value of those investments: $1,676M

R. timothy bReene
chIef STrATegy And cOrPOrATe develOPMenT OffIcer, AccenTUre
of inteRest: Breene is Accenture’s chief

symanteC
www.SyMAnTec.cOM
founded: 1982 ChaiRman and Ceo: John Thompson teCh Companies invested 2008 ytd: 5 total $ value of those investments: $526M

oRaCle
www.OrAcle.cOM
founded: 1977 ChaiRman: Jeffrey Henley Co-foundeR and Ceo: Larry Ellison teCh Companies invested 2008 ytd: 9 total $ value of those investments: $8,500M

strategy and corporate development officer, leading the company’s growth and strategy as well as corporate development functions.

walt disney Company
www.dISney.cOM
founded: 1923 pResident and Ceo: Bob Iger teCh Companies invested 2008 ytd: 4 total $ value of those investments: Undisclosed

ibm
www.IbM.cOM
founded: 1889 ChaiRman and Ceo: Sam Palmisano teCh Companies invested 2008 ytd: 10 total $ value of those investments: $561.5M

global tech: People
henRy “hank” p vigil .
SenIOr vIce PreSIdenT, STrATegy And PArTnerShIP, MIcrOSOfT
of inteRest: Vigil has led strategic agree-

✱ Corporate buyers ✱

ned hoopeR
SenIOr vIce PreSIdenT, cOrPOrATe bUSIneSS develOPMenT And The cOnSUMer grOUP, cIScO
of inteRest: Hooper is responsible for Cis-

gannett Co.
www.gAnneTT.cOM
founded: 1906 ChaiRman, pResident,and Ceo: Craig A. Dubow teCh Companies invested 2008 ytd: 3 total $ value of those investments: $30.2M

time waRneR
www.TIMewArner.cOM
founded: 1989 ChaiRman: Richard D. Parsons teCh Companies invested 2008 ytd: 7 total $ value of those investments: $1,221M

ments with Facebook, Nokia, France Telecom, Vodafone, NBC Universal, News Corp., Time Warner, and Viacom. He also played a key role in completing Microsoft’s largest acquisition of aQuantive valued at $6 billion.

co’s global growth strategy through business development activities including acquisitions, equity investment, and the incubation of innovative technologies. He also manages Cisco’s consumer organization and strategy, initially focused on delivering the network as the platform in the home.

nbC univeRsal
www.nbcUnI.cOM
founded: 1926 pResident and Ceo: Jeff Zucker teCh Companies invested 2008 ytd: 2 total $ value of those investments: Undisclosed

louise o’bRien
execUTIve vIce PreSIdenT, cOrPOrATe STrATegy And develOPMenT, eMc
of inteRest: O’Brien joined EMC after run-

douglas kehRing
SenIOr vIce PreSIdenT cOrPOrATe develOPMenT, OrAcle
of inteRest: Kehring is known for his acquis-

hewlett-paCkaRd
www.hP.cOM
founded: 1939 pResident and Ceo: Mark Hurd teCh Companies invested 2008 ytd: 5 total $ value of those investments: $14,710M

itive nature, including the much publicized acquisitions of PeopleSoft and Siebel Systems.

ning her own consulting practice, which she established after spending several years with Dell.

guaRdian news & media
www.gMgPlc.cO.Uk
founded: 1907/1993 Ceo: Carolyn McCall teCh Companies invested 2008 ytd: 1 total $ value of those investments: $30M

gRegoRy w. hughes
chIef STrATegy OffIcer, SyMAnTec
of inteRest: Hughes joined Symantec

dave Johnson
heAd Of cOrPOrATe develOPMenT, IbM

yahoo!
www.yAhOO.cOM
founded: 1994 Ceo: Jerry Yang teCh Companies invested 2008 ytd: 6 total $ value of those investments: $810M

through the company’s merger with Veritas in July 2005.

Condé nast publiCations
www.cOndenAST.cOM
founded: 1909 Ceo: Charles Townsend teCh Companies invested 2008 ytd: 1 total $ value of those investments: $25M

olaf olafsson
execUTIve vIce PreSIdenT, TIMe wArner
of inteRest: Olafsson is responsible for

aCCentuRe
www.AccenTUre.cOM
founded: 1989 ChaiRman and Ceo: William Green teCh Companies invested 2008 ytd: 8 total $ value of those investments: $41M

Time Warner’s corporate strategy, M&As, and investments. Previously, he was Vice Chairman of Time Warner Digital Media, where he was responsible for developing strategic business plans for Time Warner’s digital media businesses and identifying emerging growth opportunities for the company in the digital realm.

entertainment & media: Firms
Cbs
www.cbS.cOM
founded: 1927 ChaiRman: Sumner Redstone teCh Companies invested 2008 ytd: 3 total $ value of those investments: $1,881.5M

✱ Corporate buyers ✱

viaCom
www.vIAcOM.cOM
founded: 1971/2005 pResident and Ceo: Philippe PDauman . teCh Companies invested 2008 ytd: 1 total $ value of those investments: Undisclosed

CisCo
www.cIScO.cOM
founded: 1984 Ceo: John Chambers teCh Companies invested 2008 ytd: 6

shane Robison
execUTIve vIce PreSIdenT And chIef STrATegy And TechnOlOgy OffIcer, hewleTT-PAckArd
of inteRest: Robison leads the compa-

national lampoon
nATIOnAllAMPOOn.cOM
founded: 1970 Ceo: Daniel Laikin teCh Companies invested 2008 ytd: 4 total $ value of those investments: Undisclosed

disCoveRy CommuniCations
cOrPOrATe.dIScOvery.cOM
founded: 2005 foundeR and ChaiRman: John S. Hendricks

ny’s strategy and corporate development efforts, including M&A, divestitures, IP

34 | A LWAYSON | V E NT U RE S U MMI T S I L I C O N VA L L E Y 2 0 0 8

entertainment & media: People
quinCy smith
PreSIdenT, cbS InTerAcTIve
of inteRest: Smith is responsible for over-

✱ Corporate buyers ✱

seeing CBS’s entire interactive strategy and guides its implementation across CBS’s varied divisions and online businesses.

corporate vcs
Corporate VCs can invest in early- or late-stage companies, but usually focus on sub-sectors and investments with potential business benefits for their limited partner—the corporate parent.
✱ Corporate vCs ✱

bRuCe Campbell
PreSIdenT, dIgITAl MedIA And cOrPOrATe develOPMenT, dIScOvery cOMMUnIcATIOnS
of inteRest: Campbell led the multi-plat-

form joint venture between Oprah Winfrey and Discovery Communications to create OWN: The Oprah Winfrey Network, premiering in 2009.

intel Capital

Firms

geneRal paRtneRs: Michael Aronoff, Jeffrey

www.InTel.cOM/cAPITAl
founded: 1991 pResident: Arvind Sodhani 2008 investments: 77 total $ invested: $147M

Bussgang, Michael Greeley, Chip Hazard, Jon Karlen 2008 investments: 5 total $ invested: $25M

of inteRest: Ball formed Steamboat Ven-

James m. asheR
SenIOr vIce PreSIdenT And chIef legAl And develOPMenT OffIcer, heArST cOrP.
of inteRest: Asher oversees Hearst’s

People
aRvind sodhani
PreSIdenT, InTel cAPITAl; execUTIve vIce PreSIdenT, InTel
of inteRest: Sodhani joined Intel in 1981

✱ Corporate vCs ✱

tures in 2000. He currently serves on the boards of Pure Digital Technologies, RazorGator, and VoodooVox. Ball’s prior investments include Quigo (acquired by AOL), Iridigm Display (acquired by QUALCOMM), and Fastclick (acquired by ValueClick).

andRew Cleland
execUTIve dIrecTOr Of AllIAnceS And TechnOlOgy STrATegy, TIMe wArner InveSTMenTS
of inteRest: Cleland advises Time Warner’s

interactive media group, which identifies and implements new technologies and makes strategic investments in new media and media technology businesses.

t-ventuRe of ameRiCa
www.T-venTUre.de/en
founded: 1993 managing diReCtoR, ChaiRman t-ventuRe of ameRiCa: Dr. Axel Kolb 2008 investments: 28

kevin mayeR
execUTIve vIce PreSIdenT, cOrPOrATe STrATegy, bUSIneSS develOPMenT And TechnOlOgy grOUP, wAlT dISney cOMPAny
of inteRest: Mayer’s group was responsi-

motoRola ventuRes
www.MOTOrOlA.cOM/venTUreS
founded: 1999 managing diReCtoRs: John O’Donohue and

ble for Disney’s $700M acquisition of Club Penguin.

and became president of Intel Capital in 2005. Intel Capital recently announced its intention to invest $11.5M in Taiwanese carrier VMAX with the goal of letting VMAX deploy Taiwan’s first mobile WiMAX network, slated to be commercially available within the first half of 2009.

senior management on emerging media technologies and works on corporate transactions that have significant technology components. He managed key aspects of the 2005 AOL/Google strategic alliance as well as serving as vice president of TrustTheDJ.com, a Londonbased music company he helped launch.

daniel ehRman
vIce PreSIdenT, PlAnnIng And develOPMenT, gAnneTT cO.

Reese Schroeder 2008 investments: 22 total $ invested: $8M

axel kolb
MAnAgIng dIrecTOr And chAIrMAn, T-venTUre Of AMerIcA

david dRummond
SenIOr vIce PreSIdenT, cOrPOrATe develOPMenT, And chIef legAl OffIcer, gOOgle
of inteRest: Drummond has been with

sap ventuRes
SAP.cOM/AbOUT/cOMPAny/SAPvenTUreS/
founded: 1997 senioR viCe pResident: Nino Marakovic 2008 investments: 16 total $ invested: $9M

lisa geRsh
PreSIdenT, nbc UnIverSAl STrATegIc InITIATIveS
of inteRest: Gersh was the president, CEO,

John o’donohue and Reese sChRoedeR
MAnAgIng dIrecTOrS, MOTOrOlA venTUreS

and Co-Founder of the Oxygen network.

qualComm ventuRes
www.qUAlcOMM.cOM/venTUreS
founded: 2000 diReCtoR: Nagraj Kashyap 2008 investments: 11

tim bRooks
MAnAgIng dIrecTOr, gUArdIAn newS & MedIA
of inteRest: Brooks came to the GNM

from IPC Media’s men’s lifestyle and music division and has been responsible for moving the company into the digital media age.

steamboat ventuRes
STeAMbOATvc.cOM
founded: 2000 foundeR and managing diReCtoR: John Ball 2008 investments: 10

saRah Chubb
PreSIdenT, cOndéneT
of inteRest: Chubb oversees the operation

O’Donohue heads investments in Europe, having established Motorola Ventures in EMEA in 2003. His focus is on investing in wireless, broadband, and digital user experience areas—he has completed 13 investments and three exits. O’Donohue’s counterpart in the U.S., Schroeder, heads up the Schaumburg, IL, headquarters and is actively accelerate bottomline growth for Motorola through investments in new technologies, businesses, and talent.
of inteRest:

Google since 2002 and leads Google’s global teams for legal, government relations, corporate development (M&A and investment projects), and new business development (strategic partnerships and licensing opportunities). While he was a partner at Wilson Sonsini, Drummond served as Google’s first outside counsel and worked with Larry Page and Sergey Brin to incorporate the company and secure its initial rounds of financing.

kenneth bRonfin
PreSIdenT, heArST InTerAcTIve MedIA
of inteRest: As president of Hearst Interac-

nino maRakoviC
TITle, SenIOr vIce PreSIdenT, SAP venTUreS
of inteRest: Marakovic is responsible for

of the company’s Internet brands. Previously, she led CondéNet’s expansion of its five destination sites, including Epicurious.com, Concierge.com, STYLE. COM, MEN.STYLE.COM, Wired.com, and Flip.com.

time waRneR investments
www.TIMewArnerInveSTMenTS.cOM
exeCutive diReCtoR: Andrew Cleland

google
www.gOOgle.cOM
founded: 1998 senioR viCe pResident, CoRpoRate development:

wade davis
SenIOr vIce PreSIdenT, STrATegy, MergerS And AcqUISITIOnS, vIAcOM
of inteRest: Since 2007, Davis has been

David Drummond 2008 investments: 5

the worldwide strategy and overall performance of Motorola's venture funds. While Marakovic has been with SAP since 1999, he was previously a partner with VC heavyweights Draper Fisher Jurvetson and IVF Ventures. Currently, Marakovic manages investments in Apriso, Right Hemisphere, Vendavo, and Zend.

tive Media since 2002, Bronfin focuses on Internet content and infrastructure companies while working with Hearst’s other divisions to adapt the company’s editorial and programming resources to new formats. He joined Hearst in 1996, from NBC, where he ran digital television and headed business development for NBC Technology. Bronfin sits on the boards of Circles, E Ink, and iVillage.

JeffRey bussgang
generAl PArTnerS, flybrIdge venTUre cAPITAl (fOrMerly Idg venTUreS)
of inteRest: Bussgang focuses on invest-

responsible for Viacom’s strategic planning and business development.

heaRst inteRaCtive media
www.heArST.cOM/InTerAcTIve_MedIA
founded: 1993 pResident: Kenneth Bronfin 2008 investments: 5

nagRaJ kashyap
dIrecTOr, qUAlcOMM venTUreS
of inteRest: Kashyap leads worldwide

daniel laikin
TITle, cOMPAny: ceO, nATIOnAl lAMPOOn
of inteRest: Daniel Laikin has expanded

the National Lampoon business into all areas of media, including production of National Lampoon’s Lemmings in partnership with (AO list winner) ManiaTV.

flybRidge ventuRe Capital (formerly IDG Ventures)
www.flybrIdge.cOM
founded: 2001/2008

activities for QUALCOMM Ventures. His current investments include Obopay, WaveMarket, Airplay Networks, GoTV Networks, and Novarra.

John ball
fOUnder And MAnAgIng dIrecTOr, STeAMbOAT venTUreS

ments in consumer, Internet commerce, marketing services, software, and wireless start-ups. He currently sits on the boards of BzzAgent, ClickSquared, go2 Media, i4cp, InnerWireless, Mall Networks, SimpleTuition, and Transpera. Previously, he was a director at Brontes Technologies (acquired by 3M) and PanGo Networks (merged with InnerWireless).

V E NTUR E S UM M IT S ILIC ON VA LLE Y 2 0 0 8 | ALWAY SO N | 35

VC & Money

Institutional Public Investors
✱ institutional investors ✱

corporate lawyers
Lawyers are a must in the world of technology finance. Some provide low or deferred-fee incorporation services to brand-new startups, some trade shares for services, while others not only provide counsel but also introductions during mergers, IPOs, or other financing events.
✱ Corporate layWers ✱

Asset management firms of all kinds (mutual funds, hedge funds, and so on) fall into this category. Beside investing in technology stocks, they may also become limited partners in private equity firms’ funds.

Firms

value of teChnology holdings:

$26,331,720,514

vanguaRd gRoup
www.vAngUArd.cOM
founded: 1975 ChaiRman: John Brennan value of teChnology holdings:

wellington management Co.
www.wellIngTOn.cOM
founded: 1928 Ceo: Perry Traquina value of teChnology holdings:

Firms

latham & watkins
www.lw.cOM
founded: 1934 ChaiRman and managing paRtneR: Robert Dell

fenwiCk & west
www.fenwIck.cOM
founded: 1972 ChaiRman: Gordon Davidson

manatt phelps & phillips
www.MAnATT.cOM
founded: 1965 Ceo and managing paRtneR: William Quick-

$41,368,183,181
www.cAPgrOUP.cOM

$22,071,953,639

Capital woRld investoRs
founded: 1931/2008 ChaiRman: Jim Rothenberg value of teChnology holdings:

t. Rowe pRiCe assoCiates
www.TrOwePrIce.cOM
founded: 1937 pResident and Ceo: James Aloysius Charles

goodwin pRoCteR
www.gOOdwInPrOcTOr.cOM
founded: 1912 ChaiRman and managing paRtneR: Regina Pisa

silver

✱ Corporate layWers ✱

Kennedy

$41,580,574,756
www.SSgA.cOM

value of teChnology holdings:

$20,795,601,907

moRRison & foeRsteR
www.MOfO.cOM
founded: 1883 ChaiRman: Keith C. Wetmore

People

state stReet global advisoRs
founded: 1990 pResident and Ceo: Scott Powers value of teChnology holdings:

dodge & Cox
www.dOdgeAndcOx.cOM
founded: 1930 ChaiRman: John Gunn value of teChnology holdings:

maRk stevens
PArTner, fenwIck & weST

$46,567,663,620

wilmeR CutleR piCkeRing hale & doRR
www.wIlMerhAle.cOM
founded: 1918 Co-managing paRtneRs: William Lee and Wil-

goRdon davidson
chAIrMAn, fenwIck & weST

$14,490,598,266

fidelity management & ReseaRCh
www.fIdelITy.cOM
founded: 1946 ChaiRman: Edward “Ned” Johnson value of teChnology holdings:

✱ institutional investors ✱

People

liam Perlstein

stephen C. feRRuolo
PArTner, gOOdwIn PrOcTOr

yun-min (ChaRlie) Chai
reSeArch AnAlyST And POrTfOlIO MAnAger, fIdelITy MAnAgeMenT & reSeArch
teCh musCle: Manages Fidelity’s $1.7B

$57,706,908,105

gundeRson detmeR stough villeneuve fRanklin & haChigian
www.gUnder.cOM
founded: 1995 founding paRtneR: Bob Gunderson

susan maC CoRmaC
PArTner, MOrrISOn & fOerSTer

baRClays global investoRs (CalifoRnia)
www.bArclAySglObAl.cOM
founded: 1971 ChaiRman: Robert “Bob” Diamond value of teChnology holdings:

Select Technology Fund as well as the Fidelity Select Communications Equipment Fund and the Fidelity Select Networking & Infrastructure Fund

CuRtis mo
PArTner, wIlMer cUTler PIckerIng hAle & dOrr

wilson sonsini goodRiCh & Rosati
Url: www.wSgr.cOM
founded: 1961 ChaiRman: Larry Sonsini

$58,737,525,447

Jeff Rottinghaus
reSeArch AnAlyST And POrTfOlIO MAnAger, T. rOwe PrIce ASSOcIATeS
seCtoR: Semiconductor, semiconductor

RobeRt gundeRson
fOUndIng PArTner, gUnderSOn deTMer STOUgh vIlleneUve frAnklIn & hAchIgIAn

allianCebeRnstein
www.AllIAncebernSTeIn.cOM
founded: 1971 ChaiRman: Lewis Sanders value of teChnology holdings:

$28,090,607,071

Capital ReseaRCh global investoRs
www.cAPgrOUP.cOM
founded: 1931/2008 ChaiRman: Jim Rothenberg

capital equipment, and software companies teCh musCle: Runs the T. Rowe Price Global Technology fund and Developing Technologies Fund

fiRm: dla pipeR us
www.dlAPIPer.cOM
founded: 2005 Ceos: Frank Burch, Nigel Knowles, Lee

miChael RingleR
PArTner, wIlSOn SOnSInI gOOdrIch & rOSATI

Miller

eRiC Jensen
PArTner, cOOley gOdwArd krOnISh

miChael peRRe
PrIncIPAl, vAngUArd InveSTMenTS
teCh musCle: Manages Vanguard’s $2.7B

Cooley godwaRd kRonish
www.cOOley.cOM
founded: 1920 ChaiRman and Ceo:

James beaubien
Stephen Neal
PArTner, lAThAM & wATkInS

Tax-Managed Growth and Income Fund

36 | A LWAYSON | V E NT U RE S U MMI T S I L I C O N VA L L E Y 2 0 0 8

The AO All-Star Industry Analyst Team
Buy-side investors rely on investment banks’ analysts for accuracy in equity performance and early forecasting of trend changes. We selected them based on nominations from industry insiders as the top analysts that are trusted by a wide range of communities and have real impact on the sectors they cover.
douglas anmuth
SenIOr vIce PreSIdenT And SenIOr reSeArch AnAlyST, bArclAyS cAPITAl
seCtoR: Internet Companies undeR CoveRage inClude: Yahoo,

Google, Netflix, Omniture, Shutterfly, United Online, ValueClick, Yahoo bullish on: Netflix, Google

MAnAgIng dIrecTOr And SenIOr reSeArch AnAlyST, PIPer jAffrAy
seCtoR: Internet and digital media Companies undeR CoveRage inClude: Amazon.

of inteRest: Jonathan Schildkraut ranks

third on Forbes Best Brokerage Analysts 2008 list.

Google, eBay, InterActiveCorp, Amazon.com bullish on: Google

benJamin Reitzes, baRClays Capital
enTerPrISe hArdwAre AnAlyST, bArclAyS cAPITAl
seCtoR: Enterprise Companies undeR CoveRage inClude: Dell, EMC,

com, Apple, Baidu.com, eBay, Google, InterActiveCorp, Sohu.com, Symantec, ValueClick, Web.com, Yahoo! bullish on: iPhone apps

tom watts
MAnAgIng dIrecTOr And SenIOr reSeArch AnAlyST, cOwen & cOMPAny
seCtoR: Telecommunications, data and

imRan khan
MAnAgIng dIrecTOr, SenIOr InTerneT, MedIA And enTerTAInMenT AnAlyST, jPMOrgAn
seCtoR: Internet software and services Companies undeR CoveRage inClude: CNet Net-

IBM, Cisco, Sun Microsystems, Lexmark International, Xerox, Electronics for Imaging, Network Appliance

ChaRles di bona
AnAlyST, SAnfOrd c. bernSTeIn & cO.
seCtoR: Software Companies undeR CoveRage inClude: Microsoft,

Internet, and satellite services

Companies undeR CoveRage inClude: Akamai,

works, eBay, Expedia, Google, IAC, Innerworkings, Liberty Media, Shutterfly, Housevalues, Viacom, Yahoo bullish on: Internet stocks in 2008

Netsuite, Oracle, BEA

toni saCConaghi
AnAlyST, SAnfOrd c. bernSTeIn & cO.
seCtoR: Computer hardware Companies undeR CoveRage inClude: Apple

Cogent Communications, Comcast, Cablevision Systems, EchoStar, DirecTV, Covad, Level 3, Sprint Nextel, Sirius Satellite Radio, AT&T, Time Warner, Verizon, WorldSpace, XM Satellite Radio

bRent thill
cITIgrOUP
seCtoR: Software Companies undeR CoveRage inClude: Adobe

simon flanneRy
MAnAgIng dIrecTOr And TelecOMMUnIcATIOnS AnAlyST, MOrgAn STAnley
seCtoR: Telecommunications Companies undeR CoveRage inClude: Qwest,

JeffRey lindsay
AnAlyST, SAnfOrd c. bernSTeIn & cO.
seCtoR: Internet bullish on: Google and Amazon

Computer, Dell bullish on: Apple (even though he’s still looking for those “missing” 1.4 million iPhones)

maRk mahaney
InTerneT AnAlyST, cITIgrOUP
seCtoR: Internet bullish on: Google of inteRest: For the past two years, Mah-

heatheR bellini
SenIOr APPlIcATIOnS SOfTwAre AnAlyST, UbS
seCtoR: Software Companies undeR CoveRage inClude: Sales-

Systems, Autodesk, Activision Blizzard, Salesforce.com, Electronic Arts, Intuit, Microsoft, Novell, Omniture, Oracle, Red Hat, Vmware bullish on: A 2008 video game sweet spot

Level 3 Communications, at&t, Verizon of inteRest: Blew the whistle on Qwest’s accounting practices in 2001.

Jesse piChel
PrIncIPAl And SenIOr reSeArch AnAlyST, PIPer jAffrAy
seCtoR: Clean technology Companies undeR CoveRage inClude: Applied

ehud gelblum
AnAlyST, jPMOrgAn
seCtoR: Telecommunications equipment Companies undeR CoveRage inClude: Acme

aney has been ranked #2 in the Greenwich Institutional Investor Poll for the Internet sector and ranked as runner up in the Institutional Investor Annual Poll for the Internet sector.

force.com, Microsoft, Oracle bullish on: Microsoft

John difuCCi
AnAlyST, jPMOrgAn
seCtoR: Software Companies undeR CoveRage inClude: Tibco,

Justin post
AnAlyST, MerrIll lynch
seCtoR: Internet and e-commerce bullish on: Online media spending in

Computer Associates, BMC Software, Symantec, Accenture, Microsoft bullish on: Buying stocks (“Everything’s cheap right now.”)

Materials, Canadian Solar, Evergreen Solar, First Solar, SunPower, ReneSola, Solar International, Ultra Clean Holdings bullish on: Solar power of inteRest: Ranked #2 on Forbes Best Analysts—Earnings Estimators list in 2007.

Packet, Arris Group, Ciena Group, F5 Networks, Nortel, Qualcomm, Tellabs, Aruba Networks of inteRest: Gelblum took top honors for the third consecutive year in Institutional Investor’s 2008 All-Star Analysts list.

bRian modoff
MAnAgIng dIrecTOr And SenIOr AnAlyST, deUTSche bAnk
seCtoR: Wireless telecommunications

Jonathan sChildkRaut
SenIOr TelecOMMUnIcATIOnS AnAlyST, jefferIeS & cO.
seCtoR: Telecommunications Companies undeR CoveRage inClude: American

2008, mobile market initiatives, and display ad targeting technology

saRah fRiaR
vIce PreSIdenT, gOldMAn SAchS
seCtoR: Infrastructure software industry

youssef squali
AnAlyST, jefferIeS & cO.
seCtoR: Internet software and services Companies undeR CoveRage inClude: CNet Net-

(security and systems management) bullish on: Industry consolidation, SaaS M&A, and software stability in Q4

works, Dice Holdings, EarthLink, eBay,

gene munsteR

Tower Corp, Cbeyond, Cogent Communications Group, Equinix, General Communication, Ipcs, Level 3 Communications, Switch & Data Facilities Co., Savvis, Terremark Worldwide, Tw Telecom

equipment of inteRest: Modoff worked at Rockwell International for four years as a manufacturing supervisor on the Ships Communication and Control Systems program and four years in navigation systems testing. Prior to Rockwell, he tested and repaired communication and navigation systems for the U.S. Navy.

V E NTUR E S UM M IT S ILIC ON VA LLE Y 2 0 0 8 | ALWAY SO N | 37

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->