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peHUB Second Opinion

In Second Opinion, Google’s first quarter revenue misses, a young VC thinks Fred Wilson is wrong about young VCs, Kim Dotcom may get his assets back and a study finds that a person’s Facebook profile is a significant predictor of job performance.

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VC Fred Wilson On the Dangers of Valuation Creep

Too much money in the hands of too few firms. When people talk about the challenges facing venture capital, their criticisms often boil down to this reality. Concentration limits competition and risk taking. It also was at the heart of the critique Union Square Ventures Managing Partner Fred Wilson offered on Thursday.

good times

When Startups Need Marriage Counselors

It’s no surprise to anyone who follows the industry that founders are often elbowed aside. Sometimes, they’re ousted because a startup isn’t performing. Sometimes, investors think a new CEO could do better. Lesser known is that CEOs are sometimes shown the door because a startup’s senior managers threaten to hightail it otherwise.

A combination photo shows Reese Witherspoon and her husband James Toth after their arrest in Atlanta

peHUB Second Opinion 4.22

The hot new scheme to avoid corporate taxes, a foiled terror plot in Canada, the latest from Fred Wilson, Reese Witherspoon is super sorry, Anthony Weiner is tweeting again, and why you need to fact check press releases.

Could New York’s Startup Scene Hit the Wall in 2013?

In recent years, buttoned-down New York City has become an epicenter of open-collared consumer Web startups, with one hot brand after another drawing in users and venture capital in tandem. But the city that doesn’t sleep may have to work through the night reinventing itself if investors’ growing infatuation with all things enterprise goes unabated.

Union Square Closes on $116M for Third Early Stage Fund, Has Commitments for Rest

Union Square Ventures has closed on more than half of a new, $200 million early stage fund, raising $116.5 million of fresh capital, according to a filing with the Securities and Exchange Commission.

Rumors of the close began to spread last week, with two sources close to the company confirming the commitments. The SEC filing says another $83.5 million of the firm’s third early stage fund remains to be spoken for, though one source said it too has been sold. Sources say Union Square drew its capital from existing LPs with few if any new investors invited.

The apparent ease of the fundraising isn’t surprising given the success of Union Square’s first two early stage funds. Those funds invested in a number of notable Internet companies, including Twitter …

Union Square’s Fred Wilson and Spark’s Bijan Sabet Leave Twitter’s Board

(Reuters) – Two of Twitter’s earliest investors have left the company’s board of directors, the latest change to the fast-growing social media company’s leadership.

Fred Wilson of Union Square Ventures and Bijan Sabet of Spark Capital are no longer on Twitter’s board, the company said on Friday.

The departures were first reported on the technology blog AllThingsD.com.

It was not immediately clear what prompted the change.

Twitter does not plan to appoint new directors to replace Wilson and Sabet, a source familiar with the matter said.

Slideshow: The Flame-Throwing History of Michael Arrington

Think what you will about Mike Arrington; one thing is certain. The blogging entrepreneur and investor never shrinks from an opportunity to flame someone or something when the mood strikes him. And why would he? While he sometimes makes himself look like a tin pot dictator, his sharply worded diatribes are almost always widely read […]

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Concern Grows Over Founders Cashing Out Too Much, Too Early

Six months ago, economist Paul Kedrosky found himself in a curious situation. After being introduced to a new service, along with several other potential investors, the founder of the service announced that as part of any seed-stage deal, he expected immediate liquidity for up to 25 percent of his shares. Kedrosky, a seed investor in […]

Fred Wilson: M&A Issues: The Integration Plan

For the past month we’ve been doing M&A Case Studies on MBA Mondays. It’s time to go back to the basics of M&A. I laid them out in this post. For the next few weeks, I am going to discuss each of the key issues in detail. First up is the integration plan.

The integration plan is the way the buyer plans to operate your business post acquisition. You should get this figured out before you sign the Purchase Agreement. You are going to have to live with the results of the integration and you had better buy into it before you sign your company away to someone else.

There are two primary ways a buyer can “integrate” an acquisition. The first way is they mostly leave your company alone. Examples of this are Google’s acquisition of YouTube, eBay’s acquisition of Skype, and The Washington Post Company’s acquisition of Kaplan (one of my favorite M&A cases).

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The Bubble Isn’t Bad News for Angel Investors Alone

For months, there’s been talk of a seed-stage bubble, and plenty of reason to believe it exists. Just one indicator is San Francisco magazine’s newly published cover story on “Tech’s New Angels.” It’s fully 15 pages long, thanks in part to the public’s growing fascination with Silicon Valley’s newest “moguls,” as well as the angels’ willingness to talk […]

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A New Sign Of An Internet Bubble Amid Mixed News On Valuations

Another suggestion of an Internet bubble surfaced this week amid mixed signals on the overall portfolio valuations. A survey from Fenwick & West found that company valuations in the Internet/Digital Media business outperformed those in other industry sectors. Overall 52% of 107 companies receiving financing in the third quarter negotiated up rounds. Thirty percent accepted […]

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