Valuation Of Internet Start Ups An Applied Research On How Venture Capitalists Value Internet Start Ups
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| Author | : Jean-Baptiste Flanc |
| Publisher | : |
| Total Pages | : 84 |
| Release | : 2012-12-07 |
| Genre | : |
| ISBN | : 9783656319078 |
Master's Thesis from the year 2012 in the subject Business economics - Investment and Finance, grade: none, Business School INSEEC Paris - Bordeaux, language: English, abstract: This dissertation paper deals specifically with the valuation of Internet start-ups after the burst of dot-com bubble. The objective is to contribute to the development of this field of study by filling some of the existing gaps. Indeed, it is a relatively recent subject, and the research devoted to it is still limited. It has been found that the valuation of an Internet start-up does not only depend on its stage of development, but also on five qualitative factors: the team, the business model, the market, the risk, and the exit options. In fact, venture capitalists base their valuation on the perceived growth potential of the company. Subsequently, this dissertation paper addresses the issue of intangible assets. In fact, an Internet company derives most of its value from its intellectual capital, brand equity, and website. These intangible assets, as well as their accounting treatment, are deeply analyzed. It has been noticed the misclassification of their expenses can have a considerable impact on the valuation of the company. The discounted cash flow valuation method, which is based on financial projections, and the relative valuation method, which is based on comparables, are identified and examined in-depth. Their analysis is crucial to determine how to properly value an Internet start-up.
| Author | : Jean-Baptiste Flanc |
| Publisher | : Anchor Academic Publishing |
| Total Pages | : 0 |
| Release | : 2013-08 |
| Genre | : Business & Economics |
| ISBN | : 9783954890828 |
This book deals with the valuation of Internet start-ups after the burst of the dot-com bubble. The objective is to fill some of the existing gaps in order to contribute to the development of this field of study. Indeed, it is a relatively recent subject, and the research devoted to it, is still limited. The valuation of an Internet start-up does not only depend on ist stage of development, but also on five qualitative factors, namely the team, the business model, the market, the risk, and the exit options. In fact, venture capitalists base their valuation on the perceived growth potential of the company. Subsequently, this book addresses the issue of intangible assets. In fact, an Internet company derives most of ist value from the intellectual capital, the brand equity, and the website. The author analyses these intangible assets and their accounting treatment. The discounted cash flow valuation method is based on financial projections, and the relative valuation method. These factors are identified and examined in detail. Their analysis is crucial for it determines the valuation of an internet start-up.
| Author | : Tom Nicholas |
| Publisher | : Harvard University Press |
| Total Pages | : 401 |
| Release | : 2019-07-09 |
| Genre | : Business & Economics |
| ISBN | : 0674988000 |
“An incisive history of the venture-capital industry.” —New Yorker “An excellent and original economic history of venture capital.” —Tyler Cowen, Marginal Revolution “A detailed, fact-filled account of America’s most celebrated moneymen.” —New Republic “Extremely interesting, readable, and informative...Tom Nicholas tells you most everything you ever wanted to know about the history of venture capital, from the financing of the whaling industry to the present multibillion-dollar venture funds.” —Arthur Rock “In principle, venture capital is where the ordinarily conservative, cynical domain of big money touches dreamy, long-shot enterprise. In practice, it has become the distinguishing big-business engine of our time...[A] first-rate history.” —New Yorker VC tells the riveting story of how the venture capital industry arose from America’s longstanding identification with entrepreneurship and risk-taking. Whether the venture is a whaling voyage setting sail from New Bedford or the latest Silicon Valley startup, VC is a state of mind as much as a way of doing business, exemplified by an appetite for seeking extreme financial rewards, a tolerance for failure and experimentation, and a faith in the promise of innovation to generate new wealth. Tom Nicholas’s authoritative history takes us on a roller coaster of entrepreneurial successes and setbacks. It describes how iconic firms like Kleiner Perkins and Sequoia invested in Genentech and Apple even as it tells the larger story of VC’s birth and evolution, revealing along the way why venture capital is such a quintessentially American institution—one that has proven difficult to recreate elsewhere.
| Author | : Mohan Sawhney |
| Publisher | : John Wiley & Sons |
| Total Pages | : 365 |
| Release | : 2002-02-28 |
| Genre | : Business & Economics |
| ISBN | : 0471189553 |
Drawn from the popular TechVenture program at the Kellogg School of Management, this book provides a deep understanding of the key finance and business trends in e-commerce Viewing Silicon Valley as a test lab for e-commerce strategies, this book delivers the latest financial and business models shaping the e-commerce industry. TechVenture focuses on the Silicon Valley phenomenon, the new financial strategies, and evolving e-business models. Each chapter draws from field research and interviews with the top minds in business today, and covers the most recent advances in e-finance, including: technology incubators, start-up funds, measuring intellectual capital, valuation techniques for Internet firms, and emerging technologies. In addition, TechVenture features intriguing and informative case studies and examples of major companies, including Idealab, Merrill Lynch, Pfizer, and Amazon.com. General business and finance readers, as well as those fascinated by the Internet economy, will find TechVenture an invaluable read that is on the cutting edge of e-business. Mohanbir Sawhney (Evanston, IL) is the McCormick Tribune Professor of Electronic Commerce and Technology at the Kellogg Graduate School of Management, Northwestern University. Mr. Sawhney was recently named one of the twenty-five most influential people in e-business by Business Week magazine. Ranjay Gulati (Chicago, IL) is the Associate Professor of Management and Organizations at the Kellogg Graduate School of Management and the Director of the Center for Resource on E-Business Innovation. Anthony Paoni (Chicago, IL) is Associate Professor at the Kellogg Graduate School of Management.
| Author | : Christoph Philipp Wessendorf |
| Publisher | : Springer Nature |
| Total Pages | : 290 |
| Release | : 2021-08-24 |
| Genre | : Business & Economics |
| ISBN | : 3658349441 |
Fundraising for venture capital investments have continued to increase in recent years. One crucial step in the investment process is the valuation of the target company. Investors are faced with the great challenge of valuing a young venture without a corporate or financial history, a firm customer relationship or even a business model, while still taking into account the tremendous growth potential. Especially the valuation of technology companies is a difficult and often subjective process. Motivated by these considerations, this dissertation details a design science research project, which aims to develop an artifact that improves the indication of value in early-stage technology venture valuation while enabling operationalizable and fair valuation. This approach ensures a more meaningful valuation and better applicability to early-stage technology ventures compared to traditional methods while supporting the deliberate reduction of information asymmetries between entrepreneurs and investors. Firm-specific characteristics and practical applicability are taken into account.
| Author | : Douglas Cumming |
| Publisher | : Oxford University Press |
| Total Pages | : 936 |
| Release | : 2012-02-10 |
| Genre | : Business & Economics |
| ISBN | : 0199920923 |
The topic of Entrepreneurial Finance involves many issues, including but not limited to the risks and returns to being an entrepreneur, financial contracting, business planning, capital gaps and the availability of capital, market booms and busts, public policy and international differences in entrepreneurial finance stemming from differences in laws, institutions and culture. As these issues are so extremely broad and complex, the academic and practitioner literature on topic usually focuses on at most one or two of these issues at one time. The Oxford Handbook of Entrepreneurial Finance provides a comprehensive picture of issues dealing with different sources of entrepreneurial finance and different issues with financing entrepreneurs. The Handbook comprises contributions from 48 authors based in 12 different countries. It is organized into seven parts, the first of which introduces the issues, explains the organization of the Handbook, and briefly summarizes the contributions made by the authors in each of the chapters. Part II covers the topics pertaining to financing new industries and the returns and risk to being an entrepreneur. Part III deals with entrepreneurial capital structure. Part IV discusses business planning, funding and funding gaps in entrepreneurial finance with a focus on credit markets. Part V provides analyses of the main alternative sources of entrepreneurial finance. Part VI considers issues in public policy towards entrepreneurial finance. Part VII considers international differences in entrepreneurial finance, including analyses of entrepreneurial finance in weak institutional environments as well as microfinance.
| Author | : Kaveh Sheibani |
| Publisher | : ORLAB Analytics |
| Total Pages | : 68 |
| Release | : 2011-08-31 |
| Genre | : Business & Economics |
| ISBN | : |
We are pleased to welcome readers to this issue of the Journal of Applied Operational Research (JAOR), Volume 3, Number 2. The journal reports on developments in all aspects of operational research, including the latest advances and applications. It is a primarily goal of the journal to focus on and publish practical case studies which illustrate real-life applications.
| Author | : Martin Grossmann |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 331 |
| Release | : 2012-12-06 |
| Genre | : Science |
| ISBN | : 3642574327 |
Research and development of novel medicines for human therapy commonly takes over a decade before significant revenues from sales are forthcoming. How can biotechnology companies be founded and grow successfully in an industry with such extended innovation processes? The book investigates this problem and distinguishes three growth phases: From incorporation and start-up through collaborative R&D with large pharmaceutical firms to value creation from R&D pipelines to Public Offerings and product marketing. In this book a dynamic simulation model for testing different decision-making strategies is developed. For each phase the author identifies decision rules that provide for successful corporate growth.
| Author | : Lorenzo Carver |
| Publisher | : John Wiley & Sons |
| Total Pages | : 293 |
| Release | : 2011-11-15 |
| Genre | : Business & Economics |
| ISBN | : 1118182332 |
Very few of the decision makers involved in a venture backed company have a definitive understanding of how valuation techniques are being applied to their financial statements and their decision making process. This casebook provides a quick and accurate road map on how valuation techniques used for tax, financial reporting and deal structure impact a company's past, present and future. The book includes real world case studies to simplify this complex subject for the practitioners serving companies, the founders and executives running the companies, and the investors that fund the companies.
| Author | : Aswath Damodaran |
| Publisher | : John Wiley & Sons |
| Total Pages | : 698 |
| Release | : 2016-02-08 |
| Genre | : Business & Economics |
| ISBN | : 0470049375 |
"Aswath Damodaran is simply the best valuation teacher around. If you are interested in the theory or practice of valuation, you should have Damodaran on Valuation on your bookshelf. You can bet that I do." -- Michael J. Mauboussin, Chief Investment Strategist, Legg Mason Capital Management and author of More Than You Know: Finding Financial Wisdom in Unconventional Places In order to be a successful CEO, corporate strategist, or analyst, understanding the valuation process is a necessity. The second edition of Damodaran on Valuation stands out as the most reliable book for answering many of today?s critical valuation questions. Completely revised and updated, this edition is the ideal book on valuation for CEOs and corporate strategists. You'll gain an understanding of the vitality of today?s valuation models and develop the acumen needed for the most complex and subtle valuation scenarios you will face.
