Insights

Beyond Recurring Revenue

Technological Advantages of Migrating to SaaSFor ISVs, the conversion to SaaS has long been known to hold several widely agreed upon benefits. Regular “recurring” revenue is something that Wall Street has embraced, as evidenced by the 4-8x multiples enjoyed by most SaaS firms while their “regular” counterparts enjoy multiples in…

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The Knowledge Network: M&A Imperative for Innovation

I recently had dinner with a leader from one of the top technology companies in the world.  He was just back from the World Economic Forum in Davos – so I asked him what he had learned.   The first thing that sprang to his mind was the pronounced difference between…

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“Big Data” and the “Cloud” are Rip-offs, Moore & Metcalfe should sue!

In the midst of the hyperactive dialogue about the incredible technology revolution, new ideas are so very rare, rip-offs are too common.I’m not against new models and jargon – just ask my colleagues.  But, it discredits current technology thought leaders when they coin a new term that is a pure…

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Morgan Stanley vs. Texas Longhorns – which one drives the economy?

WSJ reported today that Morgan Stanley was king of the tech IPO world and they had topped the underwriter charts with $115 million in revenue.  That’s good news?  Is this a sign of health in the Tech IPO world?  I spent many years leading lots of IPOs at Robertson Stephens,…

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Steve Jobs – He knew “It was Personal”

In the mid 90’s the biggest technology companies in the world all knew that the revolution was over and that the “PC” business had matured – the innovation phase had ended and it was all about cost reduction and marketing.Then, IBM saw that its CEO/CIO clients had lost interest in employee…

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Return of the Class of 1990s Software IPOs

The software IPOs of the 1990s are coming back – you heard it here first. That’s right, the old school enterprise software companies of yesterday will be doing IPOs starting in Q4 and there are a bunch of them. In some cases it will be new companies that look just…

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OpenTable – VCs Waste Another IPO

VCs lamented the dead IPO market ’round the clock at the AlwaysOn Venture Summit two weeks ago, where the theme of conference was the search for liquidity. Yours truly participated on one of three panels dedicated to raising the four horsemen from the dead. The NVCA has published a position paper…

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NVCA’s Two Big Blind Spots

The USA desperately needs to repair our growth IPO market. Our ability to efficiently deliver capital to innovative companies has been the heart of our economic leadership. Free ideas and then capital to support them! We must applaud the NCVA’s efforts to advance this dialog. The NCVA’s presentation does a…

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What is My Company Worth Today?

Last month I wrote about capital market participants being overwhelmed by technology innovation and winding up totally stupid about valuation.  Understanding the fundamentals of valuation theory helps us see how we got off the rails on value again – houses , stocks, etc – and how to think about value…

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Computers and the Internet Made the Markets Historically Stupid!

I have a degree in systems engineering and am a huge fan of technology – BUT the computer and the internet have unraveled our financial markets and made us really stupid. In fact, our unbridled adoption of these technologies has caused our markets to regress back to the days of…

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