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A Venture Capital History Perspective From Jack Tankersley

Feld Thoughts

. “By January 1984, investors had turned away from hardware toward software.” By 1994 the big software wins of the 1980’s were already funded or public.” This isn’t true. As mentioned, the industry also experimented with new strategies such as industry focus funds and regional focus funds. Some worked; some did not.

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Go early, go late, or go home

BeyondVC

Combine this relative value with the fact that many tech companies, particularly large software companies, derive 50-70% of their revenue from annual recurring maintenance and you have an opportunity to buy out many of these businesses due to their predictable cash flow. for a company then no public software company is sacred.

LBO 60
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When Does Zynga Become a Value Stock?

Agile VC

Given Marc Pincus’s voting control, being acquired is presumably not in the cards for Zynga and a take private or LBO would be nearly unthinkable in the near term so there’s little chance of an M&A situation to arbitrage. But at what point does Zynga become a value play?

Stock 160