In his interview with The Cornell Daily Sun, former analyst of private equity firm Blackstone and incoming associate of venture capital firm New Enterprise Associates Andrew Schoen explained why venture capitalists exist.
Industry
US ranks 31st in Internet speed list, nationwide Google Fiber network to cost USD11 billion
According to Speedtest.net, 30 countries including Moldova and Uruguay have faster Internet than the United States. Google Inc. has began building its fiber network in Kansas. A nationwide Google Fiber rollout, however, may cost USD1 billion.
Only 14% of venture capital firms backed unicorns with $1B exits - report
A study done by CB Insights revealed that only 14% of venture capital firms supported unicorns since 2004. Unicorns refer to young startup firms that have made USD 1 billion exits.
Private equity firms' "dry powder" surges to USD 789B - report
Private equity firms are keeping more money for acquisitions, according to a report from the Financial Times. The "dry power" of private equity funds have risen to USD 789 billion this year.
VC sentiment in Silicon Valley hit the highest level since the 2008 recession - report
Valuation results in 3Q13 showed a noticeable increase over 2Q13, including the greatest difference between up and down rounds in over six years. The software industry was especially strong, not only valuation-wise, but also in the number of deals.
Latest News
Following a nuclear deal reached in Geneva, the European Union has removed the ban on insuring tankers transporting Iranian oil. The EU also agreed to release USD4.2 billion in frozen oil assets and permit Iranian crude exports to continue at its current levels.
During a panel discussion with Daimler CEO in Berlin on Saturday, Dieter Zetsche, said he would 'welcome' a Chinese investor. Daimler also took a 12% stake with Beijing Automotive Group.
The S&P jumped around 26% in 2013 with major indexes hitting record high, but investors are wary of the surge in US stocks, citing a potential big drop on the market the following year.
European Central Bank (ECB) Executive board member Benoit Coeure said the ECB plans to maintain its low interest rates or may cut them further because of low inflation.
Ikea's overall sales rose 3.1% to EUR 1.27 billion for the financial year to August. The home decor and building materials company recorded an impressive 29% increase in online sales, which allowed Ikea to reach new demographics.
NBC Universal is close to getting a minority stake in a new company being formed by technology journalists Walt Mossberg and Kara Swisher whom runs AllThingsD from sources whom are familiar with the situation.
Zanox, a performance advertising network has purchased Hamburg, Germany-based performance display provider Metrigo for an undisclosed sum. Originally, Metrigo was a portfolio company of Berlin-based company builder Project A Ventures.
According to a new report by the Associated General Contractors of America, Mississippi has led the US in construction job growth third quarter of this year. Former leader Tennessee has dropped to rank number 44.
Eagle Genomics, a Cambridge, UK-based provider of bioinformatics software and services covering life science and other sectors, has successfully raised an additional USD 1.6 million in funding.
