Brian DeChesare

SEPTEMBER 20, 2023

If you worked at a startup, how did you win more customers or partners in a sales or business development role? Technical Questions – You could get standard questions about accounting and valuation or VC-specific questions about cap tables, key metrics in your industry, or how to value startups.

Start-ups 59

Start-ups Equity Marketability Terminal Value 59

Appraiser Newsroom

JULY 9, 2023

Tweet ASA International Conference is the leading event for the global valuation profession. His valuation experience encompasses projects in the private, public and industrial sectors. is a designated CFA and ASA member who performs both business valuations and equipment appraisals to a wide range of clients and industries.

Appraisal 52

Appraisal Business Valuation Technology Marketability 52

Value Scope

APRIL 9, 2021

This paper attempts to explain and distinguish between various valuation concepts, such as price, fair market value, fair value, liquidation value, intrinsic value, financial value versus strategic value, monetary versus economic value, emotional and psychic value, among others. 1] But the concept of value is complex. It transcends FMV.

Fair Market Value 130

Fair Market Value Marketability Finance Intangible Assets 130

Value Scope

APRIL 9, 2021

This paper attempts to explain and distinguish between various valuation concepts, such as price, fair market value, fair value, liquidation value, intrinsic value, financial value versus strategic value, monetary versus economic value, emotional and psychic value, among others. But the concept of value is complex. It transcends FMV.

Fair Market Value 130

Fair Market Value Marketability Finance Intangible Assets 130

Musings on Markets

DECEMBER 15, 2021

First, with today's technology, online classes get scarily close to physically being in a classroom, a reminder to me, and teachers all over the world, that unless we offer something unique in a classroom setting, disruption is coming for the teaching business. Spring is here, and the classroom beckons!

Corporate Finance 56

Corporate Finance Finance Start-ups Technology 56

Cooley M&A

OCTOBER 29, 2020

On September 24, Cooley M&A partner, Garth Osterman, moderated a webinar on the current trend in going public: SPACs! Key highlights from the webinar are summarized below and a link to the recording can be found here. For more background information on SPAC transactions, check out this report that Cooley co-authored with Deloitte & Touche.

Start-ups 52

Start-ups Marketability Equity Finance 52

IBG Business

NOVEMBER 30, 2022

What is this business worth?” Fundamentally, what a business is really worth is a number between what the owner will take and what the best buyer will pay. Because that process can raise many complexities, it is common for valuation discussions to be based on simplifying measurements. – Roger Walker.

EBITDA 52

EBITDA EBIT Book Value Marketability 52

Musings on Markets

JANUARY 8, 2022

In the years since Beane tried it with baseball, Moneyball has decisively won the battle for sporting executives' minds, as sport after sport has adopted its adage of trusting the data, with basketball , football , soccer and even cricket adopting sabermetrics, as this sporting spin off on data science is called. Don't get me wrong!

Risk Premium 91

Risk Premium Start-ups Market Capitalization Corporate Finance 91

Cooley M&A

JANUARY 22, 2020

2019 was a banner year for billion-dollar life sciences M&A transactions. A wave of big-ticket transactions by global pharmaceutical companies drove life sciences M&A activity to its fourth-largest year on record in 2019, with aggregate deal value in the pharmaceutical, medical and biotech industry reaching $234.2

Marketability 40

Marketability Technology 40

Andrew Stolz

JULY 5, 2021

Many years ago, the management team of the business I co-own in Thailand, CoffeeWORKS , made it through the tenth year of an annual (and massive) quality audit done by one of our multinational customers. It had to be a measure that, if improved, could be shown to increase the value of the business.

Start-ups 52

Start-ups Finance Market Capitalization Marketability 52

Sun M&A

JULY 16, 2019

As a Business Valuation and Merger and Acquisition firm, we often receive the following question from entrepreneurial business owners – how do I know what my business is worth? There are many unique factors to consider when valuing any business. Multiple of Seller’s Adjusted Net Cash Flow.

Business Valuation 40

Business Valuation EBITDA Marketability 40

Reynolds Holding

DECEMBER 10, 2023

As a capital allocation decision, share buybacks intersect all three of the main corporate finance activities of investing, financing, and dividends [1]. Buybacks continue to be very divisive, evoking comments like “derangement syndrome” by Cliff Asness, “economic illiterates” by Warren Buffett and “paper manipulation” by Sen.

Dividends 45

Dividends Total Shareholder Return Corporate Finance Finance 45

Cooley M&A

OCTOBER 26, 2017

Former stockholders of SARcode Bioscience were recently denied a claim that they were entitled to be paid $425 million in milestone payments under a merger agreement. The first milestone related to the outcome of a Phase 2 clinical trial of the drug in development to treat dry eye disease. Ultimately, the drug received regulatory approval.

52

52

Musings on Markets

JANUARY 29, 2021

For those of you tempted to put all of Wall Street into one basket, it is worth noting that the biggest segment of professional money management still remains the mutual fund business, and mutual funds are almost all restricted to long only positions. But what if you think a stock is too highly priced and is likely to go down?

Start-ups 52

Start-ups Marketability Banking Finance 52

Reynolds Holding

APRIL 3, 2024

Class-action litigation for fraud on the market typically focuses on purchasers and sellers of stock. Yet those that traded in options on the shares can also be harmed. In a recent paper, we draw from experience in In re Apple, Inc. Securities Litigation (N.D. The result was a $490 million settlement of the case in March 2024. John Fund v.

Marketability 59

Marketability Market Capitalization Finance Dividends 59

Reynolds Holding

MAY 2, 2022

IPO process is the Jumpstart Our Business Startups Act of 2012 (the JOBS Act). buyers’ valuations) while reduced disclosure allows firms to reveal less to investors. For this reason, well-functioning capital markets have been instrumental to the U.S. economy, supporting job creation and economic growth. In particular, the U.S.

Equity 59

Equity Finance Marketability Technology 59

Cooley M&A

FEBRUARY 7, 2023

Companies lacking cash turned to M&A to provide liquidity, while companies with cash on hand were able to capitalize on depressed valuations and undertake strategic transactions. This post highlights 10 key trends that shaped global M&A market activity in 2022 – and will likely continue to impact deals into 2023.

Finance 59

Finance Start-ups Marketability Banking 59

Musings on Markets

FEBRUARY 16, 2024

In the context of valuing companies, and sharing those valuations, I do get suggestions from readers on companies that I should value next. These are three very different stories, but what they share in common is a fear, imminent or expected, of a catastrophic event that may put a company's business at risk.

Risk Premium 74

Risk Premium Start-ups Beta Marketability 74

Cooley M&A

FEBRUARY 8, 2018

This mechanism protects the business or value of the innovation purchased. What’s on tap for 2018 M&A? A recap of 2017 trends and the Cooley outlook on this year’s dealmaking: Buying Innovation: Retention and Non-Competes. For both old-line companies and tech giants, innovation is the name of the game.

Start-ups 52

Start-ups Appraisal Technology Marketability 52

Cooley M&A

JANUARY 22, 2021

General Trends in Life Sciences M&A. If 2019 was the year of life sciences mega-deals, 2020 was the year of COVID-19, as the global pandemic permeated every aspect of the dealmaking landscape, with the life sciences sector being no exception.

Marketability 40

Marketability Equity Technology 40

Brian DeChesare

MAY 17, 2023

At the time, most people assumed that the only way to “invest in technology” was for venture capitalists to pay computer science majors to drop out, strap themselves to Red Bull IVs and espresso machines, start coding 24/7, and launch new websites that might become worth billions overnight. Why Did PE Firms Start Buying Tech Companies?

Equity 64

Equity Technology Private Equity Firm Start-ups 64

Cooley M&A

JANUARY 30, 2024

As we look ahead to the 2024 proxy season (and beyond), let’s review the key 2023 trends and developments from activism playbooks, with a sharp focus on the ever-changing landscape in the technology and healthcare sectors. Momentum building for 2024? 4] Activists won 134 board seats globally in 2023, a 30% increase from 2022.

Market Capitalization 52

Market Capitalization Equity Marketability Total Shareholder Return 52

Cooley M&A

JANUARY 25, 2023

However, deal activity fizzled in the second half of 2022, as high inflation, aggressive anti-inflation monetary policies, geopolitical instability, assertive antitrust regulators and tightening financing markets depressed target valuations, reduced strategic acquirer confidence and sidelined private equity sponsor buyers. trillion. [2]

Equity 52

Equity Finance Marketability Start-ups 52

Cooley M&A

JULY 10, 2017

In life sciences/medical technology transactions, buyers and sellers often use milestone-based and sometimes royalty-based contingent consideration to compensate sellers for assets that are in various stages of development from clinical- to development-stage to product commercialization. [1] Private placement.

Compliance 52

Compliance Finance Technology Marketability 52

Cooley M&A

JANUARY 20, 2022

General trends in life sciences M&A. Although the COVID-19 pandemic that defined 2020 continued to shape much of the life sciences industry in 2021, the way that it did was markedly different. Increased focus on digitization, with life sciences companies placing a premium on innovative and tech?driven driven assets.

Marketability 40

Marketability Start-ups Equity Technology 40

Cooley M&A

JANUARY 25, 2024

The higher interest rates escalated borrowing expenses, making mega-deals (deals valued at $5 billion or more) significantly more expensive, due to their heavy reliance on debt financing, and impacted valuation multiples with higher discount rates. trillion – representing a 10-year low. trillion – representing a 10-year low. trillion and $4.09

Start-ups 52

Start-ups Marketability Finance Debt Financing 52

Value Scope

SEPTEMBER 24, 2020

Click to Download: ESG A Valuation Framework. The morning business show Squawk Box began to mention “ESG” on a daily basis. What has remained elusive for businesses and investors is a way to quantify the actual and potential risks, losses, benefits, and rewards associated with ESG decisions.

Intangible Assets 130

Intangible Assets Alpha Beta Marketability 130