This was the opening keynote at the 2015 Colorado Capital Conference.
The Denver / Bolder area is one of several technology communities where angels and entrepreneurs have somehow developed a deeper appreciation for the importance of early exits. It's going to be interesting to see if we can track the difference this makes.
The popularity of the Early Exits book surprised me
This keynote from an Angel Capital Association regional meeting describes three successful exits that were also what I call "Accidental Exits." By that I mean exits that were the result of an unplanned approach from a buyer. In this very active M&A market, sellers are often being surprised by buyers changing the conversation and offering to buy the company.
When I was CEO of my first technology company I thought I understood how patents worked. But it was only after managing a hedge fund for a few years that I began to appreciate the risks patent holders face.
Many entrepreneurs think that the real test of a patent’s value is whether or not it will be granted. But in my experience the real value isn’t known until you’ve spent years, and millions of dollar...
Recently, at an Exit Strategies Workshop in Victoria, someone asked me to compare the pros and cons of an early exit versus a traditional Venture Capital financing.
The scenario we used for our example was a successful startup company with a proven business that needed $10 million to $20 million to fund growth.
(In this article, I am being precise about the distinction between the business a...
In earlier days, entrepreneurs dreamed of founding an innovative start-up and building it into a big company. After many years of solid sales and profits, the company might be acquired, with founders and investors earning a capital gain.
But in today's fast-evolving technology marketplace, growing a small start-up into a big company may not be the best strategy. An increasing number of promising start-ups are exiting early at very attractive valuat...
It's rare to be able to post a detailed case study on an early exit. The most interesting information is usually restricted by a non-disclosure agreement. This is a very valuable opportunity to hear directly from the Chairman and a lead investor about what went on behind the scenes in this $30 million pre-revenue exit.
These videos complement the complete written Read More