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From: Name: Email Address: Subject: Date:
"Dan Primack" Dan Primack Term Sheet -- Thursday,
January 2 02-01-2014 14:44:19 Message
January 2, 2013
Random Ramblings
"Who are the investors?" It's a question I've heard nonstop since we first repor
ted back in August that Kara Swisher and Walt Mossberg, co-executive editors of
influential tech site AllThingsD, had hired an investment bank to help explore t
he possibility of forming their own independent company, once their existing con
tract with Dow Jones expired on December 31. And the pestering only intensified
the following month, when the pending split was made official. At the time, we r
eported that Swisher and Mossberg were in talks with two prospective investors,
one of which was Comcast subsidiary NBCUniversal. But soon there were rumors tha
t Hearst also was in the mix, and that various hedge fund managers and venture c
apitalists had come knocking. Then a long period of silence, even as the clock k
ept ticking toward the end of AllThingsD and this morning's launch of what is be
ing called Re/code. So, let's end the mystery: In an interview, Swisher and Moss
berg say that their new company's two investors are the NBCUniversal News Group
(yay, got it right) and Terry Semel's Windsor Media (oops, never even sniffed th
at one -- although you've got to love the irony of Swisher getting money from Ya
hoo's ex-CEO). Each group took an equal minority equity stake somewhere south of
25% for an undisclosed amount.

a 37. among other things.2 billion buyout of Pittsburgh-based Heinz).9b). buyouts were: Dell ($24.9b). Heinz ($23.5% increase over 2012. Stuff to read at Fortune. BMC Software ($6.2b) . region for private equity investme nt last year was the Mid-Atlantic.Page 2 of 5 Swisher and Mossberg seem confident that the actual dollar details can remain co nfidential because they structured the parent company (Revere Digital) as an LLC .com 2014 predictions: Fortune's crystal ball Miguel Helft: Microsoft's Chromebook he adache Jen Wieczner: Why 2014 could be Mexico's year Caroline Fairchild: New Yea r's resolutions for 8 big companies Adam Lashinsky: The uncomfortable truth abou t Brad Stone's Amazon book THE BIG DEAL file:///C:/Users/srinivas/AppData/Local/Temp/tmp. The global IPO market hit $137 billion. Renaissance Capital reports that the 2013 U. For more on the deal and the new company. *** More 2013 deal data: The most active U. IPO market was busier than in any year since 2000. Overall. MSNBC and NBC News properties like The Today Show. and it kept surprising m e how right he was about that. *** IPO data: 82 VC-backed compan ies raised $11.S. "You really got a sense of how deals ebb and flow over ver y small things. That's the most VC-backed IPOs since 2007. with 222 companies raising $ 55 billion. NBCUniversal has signed a separate operational agreement that will. Pitchbook also repor ts that the year's five largest U." Swisher says of th e investment process." Mossberg adds: "Quincy Smith [the pair's lead investment banker] told us from the beginning how central the chemistry factor would be when choosing investors. That means you should expect to be seeing lots of Swisher and Mossberg on CNBC.9b). according to the NVCA and Thomson R euters.tmp 16-12-2015 . provide i t with access to Re/code content and codify NBCNews as the new company's preferr ed media partner. and the 24 offerings in Q4 re presented the first time since 2004 that the market had three consecutive quarte rs of 20+ VCbacked IPOs. "It was a real learning experience." In addition to its investment. according to Pitchbook.S.S. The area accounted fo r just under 20% of all PE deal-flow and 26. please go here.5% of all PE investment dollars (buo yed by the $23.25 billion in IPOs last year. and how important the human element is. although my guess is that the SEC or Delaware Division of Corporations may hav e a different sentiment. Neiman Marcus ($6b) and Axalta Coating Systems ($4.

a Chicago -based provider of weight loss programs..B. www. has raised $100 million in Series C fund ing from CITIC Capital ($60m) and existing investors like Tencent ($30m). www.nest. an Onsted.tmp 16-12-2015 . Conn. a New York-base d synthetic biology-based company focused on rare genetic diseases. has raised $ 8 million in new VC funding. while the investment was co-led by New Science Ventures and Third Point Ventures.brkr. Kleiner Pe rkins.2 million in seed funding. Japan's Dream Incubator Inc. and was joined by PS27 Ventures.xiaojukeji. has raised a n undisclosed amount of mezzanine funding from F. Cambia Health Solutions led the round. a Branford. a Palo Alto. and was joined by Sie mer Ventures.­based file:///C:/Users/srinivas/AppData/Local/Temp/tmp. has raised $5 million in Series B fundi ng. Utah-based maker of cashless touchsc reen devices for vending machines that will aid in nutrition disclosure regulati ons. a Provo. has raised $5. www. led the round. The company also announced a partnership with Intre xon Corp.N. 365 Retail Markets led the round. in order to develop a treatment for Friedreich's ataxia.­based prov ider of orthotic and prosthetic patient care products and services. Calif. a Chinese taxi-booking app. RRE Ventures led the round. Palo Alto Investors also Breaker. www.alexartx. www. architecture. New Engl and Orthotic & Prosthetic Systems is a portfolio company of Summer Street Capita l Partners. www. Generation Investment Management. The company previously raised more than $8 million.floored. has acqui red the consumer business of Chemtura Corp. Lightspeed Venture Partners. according to Re/ Agilis Biotherapeutics LLC. www. The company was formed by NeXeption LLC. www.-based maker of smart home devices like thermostat s and smoke PRIVATE EQUITY DEALS KIK Custom Products Inc.neops.Page 3 of 5 Didi Dache. Capital Partners. (NYSE: XON). a portfolio company of CIC Capital Partners. a developer of liver x receptor agonists for both systemic and local Floored. and Felicis Ventures. www. Lerer Ventures. Shasta Ven tures and Peak Rock Capital has acquired Natural American Foods Inc. and was joined by Greycroft Partners and return backers Two Sigma Ven tures.. (NYSE: CHMT) for $300 million. has raised $21. www. has raised $ New England Orthotic & Prosthetic Systems.k ikcorp.retrofit. with return backers including Google Ventures.26 million in Series A funding. interior design and furni ture industries.5 million in Series A AirVend. is raising upwards of $150 million in a new VC round that would value the company north of $2 billion. accord ing to a Chinese media report. and was joined by return backer VENTURE CAPITAL DEALS Nest Labs.. has raised $2 million in seed funding. Mich. a New York-based provider of 3D data capture and visu alization solutions for the real estate. DST is expec ted to lead the round. a producer and distributor of mobile video Alexar Therapeutics Inc.

an Australia­based provider of business management solutions for the hair and b eauty industry. MA-based pharmaceutical company that devel ops RNA interference-based therapeutics.revance . including a $112 mil lion up-front payment.shortcutssoftware. a Newark. an Exton.21cf.. with Jefferies.3%). according to the FT. Barclays is managing the process. No financial terms we re Lexington Partne rs has agreed to acquire around a $1 billion portfolio of private equity fund file:///C:/Users/srinivas/AppData/Local/Temp/tmp. an Australian s nack-maker. No financial terms were disclosed. which could garner around $1. www. has filed for an $86. Penn. One Ltd. and Piper Jaffray serving as lead underwriters.2% preIPO stake).-based application deve lopment platform. It plans to trade on the Nasdaq under ticker s ymbol RVNC.naturalamericanfoods.tmp 16-12-2015 . a UK-based mid-market buyout firm.dicerna.Page 4 of 5 producer and distributor of honey and other food products. Deerfield Management (13 . Palo Alto Investors.35 billion deal. a uni t of Constellation Software Inc. It pla ns to trade on the Nasdaq under ticker symbol DRNA. has raised an undisclosed amount of equity funding from Anacacia Cap ital.9%).3%). S. Sha reholders include Essex Woodlands Health Ventures (36. RA Capital (13. Calif. Shepherd Vent ures. China Media Capital.25 million IPO. Abingworth Management (10. www. according to a regulatory Nor thern & Shell. targeted delivery of large macromolecules across skin. Vivo Ventures (7%). Leerink Swan n and Stifel serving as lead Yumi's Quality Fiat SpA has agreed to acquire the 41. The deal is valued at up to $130 million.-based developer of a platform technolog y that enables local. The company reports around a $10 mill ion net loss on $7 million in revenue for 2013. FIRMS & FUNDS Bowmark Capital. has raised £375 million for it s fifth fund. Brookside Capital (9. Skyline Ventures (14.R. www.6%). has acquired Shortcuts Software Ltd . Shareholders include Domain Asso ciates (16. (TSX: CSU).4%).com Rev ance Therapeutics Inc. is considering a sale of Britis h broadcast TV station Channel 5.8% pre-IPO stake).au IPOs Dicerna Pharmaceuticals. has filed for a $69 million IPO.4% ). www. with Cowen & Co.46% stake in Chrys ler that it does not already own. ThingWorx backers included Safeguard Scientifics. No financial terms were disclosed. a group owned by Richard Desmond. Pac-Link Ventures and Essex Capital Corp.thi ngworx. in a $ OTHER DEALS 21st Century Fox (Nasdaq: FOXA) has agreed to sell its 47% stake in Star China T V to the channel's majority owner.2 billion. NovaQues t Capital (24. Technology Partners (7. www.. (8%) and Oxford Bioscience Partners (7. Jonas Software. EXITS PTC (Nasdaq: PTC) has acquired ThingWorx. a Watertown.4%). www.bowmark.

Page 5 of 5 stakes from Ireland's National Pensions Reserve Fund. the tech-focused investment firm launched last year by Alexander Tamas (ex-DST ) and Mateusz Szeszkowski (ex-KKR). UBS managed the process. Axelsen previously was with New Enterprise A ssociates and. Represented funds include CVC Capital Partners. or copy and paste this link into your browser: http://money. To unsubscri be. www. click here PRIVACY POLICY Please read our Privacy Daniel Axelsen has joined Vy Capital .nprf. according to LBO Fortune on Facebook @FortuneMagazine Subscribe to Fortune Advertising info Email Administrator One CNN Center Atlanta. before that. ON & ON Stephen Moseley has joined the Alaska Permanent Fund Corporation as a senior por tfolio manager focused on alternative file:///C:/Users/srinivas/AppData/Local/Temp/tmp. MOVING IN. He served as president of Ste pStone Group until May 2009. and since has been managing his own real estate and investment management office. Providence Equity Partners and TPG Capital. www. Qatalyst Partners. Georgia 30303 This message has been sent to you because you are currently subscribed to The Term Sheet. www.apfc.tmp 16-12-2015 .cnn.vycapital.