Rearview Mirror for Week Ending February 9th

Pugz-n-snow
Pugz-n-snow

What a week!  Three audits gong on at once:  1) year end, 2) FINRA, and 3) AML (anti money laundering).  To boot, the wireless portion of my office’s network wasn’t working .  In remedying the situation, I brought the network down, and then had to bring it up again.  Two days down the tubes.  Who among us hasn’t experienced the Network Black Hole of Time?

And then another 2-1/2 inches of snow last night.  It was that fine powdery stuff, and makes for a very pretty view.

Earnings:

Click on the Company name for the earnings announcement, and the stock symbol for the stock chart.

The nervousness on The Street is all about the economy.  Last Monday started out with a sell-off and talk about safe-havens—as in away from stocks.  A lot of chatter about a 10 percent correction.

Wednesday and Thursday brought earning announcements:

While revenues doubled at Twitter to $243m, and adjusted profit was two cents per share, the stock fell on lower than expected user growth.

Pandora Media (P:  NYSE)  had sales of $137m over November and December, but shares fell, even thought earnings were better than expected.

LinkedIn’s (LNKD:  NYSE) fourth-quarter profit fell to 3.8m from $11.5m or 10 cents per share.  Revenue rose to $447m from $304m.

Apple (AAPL:  Nasdaq) also announced their $14b share buyback, as well as indicating that they are “stitching together a network of Internet infrastructure capable of delivering large amounts of content to customers, giving the company more control o ver the distribution of its online offerings”[1]  I guess they don’t want to get the short end of the Net Neutrality “not-so-much” stick.

IPO’s[2]

There were eleven IPO’s last week.  All but three were in the pharma area.  Those exceptions were in Chilean natural resource company, a real estate investment company and a building products (gypsum board) company.  No high tech.

Since these companies hold little interest in my world, I have decided to limit the descriptions.

The names were

Pharma:

Argos Therapeutics Egalet Eleven Biotheraapeutics
Revance Therapeutics Auspex Pharmaceuticals Biocept
Genocea Bioscieinces uniQure

 

Real Estate:  Ladder Capital

Natural Resources:  GeoPark (Chile)

Building Products:   Continental Building

Mergers & Acquisitions[3]

Click on the highlighted word(s) for the M&A announcement.

Materials

ATMI was acquired by Entegris for $1.1b.  Both companies provide materials to the semiconductor industry.

Services

Italian Octo Telematics, which provides insurance telematics services, is being acquired by the Renova Group for $405m.  The Renova Group is a conglomerate with substantial natural resources holdings, and a privately held company based in Russia.

Maxxam Analytics, a leader in testing, inspection and certification services, was acquired by Bureau Veritas, a leader in conformity assessment and certification services for 650m CAD.

Education

Engrade, a K-12 education platform, is being acquired by McGraw-Hill Education.

Algorithms

Bright.com, a hiring algorithm company, was acquired by LinkedIn for $120m.

Ness Computing, a personalized restaurant recommendation engine, is being acquired by OpenTable for $17m.

Financial

Turkish mobile money innovator, Pozitron, is being acquired by Monitise for $100m.  Monitise is a mobile banking and payments provider, based in England.

BlueKite, a platform for cross-border bill payments, was acquired by Xoom Corporation for $15m.  Xoom is a global payments provider.

Games

Double Helix Games is being acquired by Amazon.

Private Placements[4]

Click on the Company Name to go to its website.

Apps

Hellofood, a food delivery app/service in Asia, Africa and Europe raised a $20m round.

Truecaller, which identifies and verifiers callers to your mobile phone, raised a $19m Series B round.

Vungle, a leader in in-app video, raised a $17m Series B round.

Foursquare, a location-based social networking app, raised a $15m round.

Tapingoa mobile food ordering platform,raised a $10m Series B round.

Analytics

SaaS provider Domo, which brings your data and our business together in “one intuitive platform,” has raised a $125m Series C round.

Totango, a customer analytics company, raised a $16m Series B round.

Localytics, with a mission to help companies build a stronger relationship with mobile and web app users with the Localytics analytics and marketing platform, raised a $16m Series C round.

Datadog, a “monitoring service for IT, operations and development teams who write applications at scale” raised a $15m Series B round,.

ThoughtSpot, a business intelligence analysis company, raised an $11m Series A round.

IT

Spiceworks, “the place people go to share and find info on all-things-IT” raised a $57m Series E round.

Elementum, whose tag line is  “supply chain made simple” raised a $44m Series B round.

AtTask, the self-proclaimed SaaS leader in project management solutions, raised a $28m Series D round.

Marketing

SpinMedia Group, which links brands, content and millennial customer, raised a $10m round.

DataXu, a buy-side optimization engine for ads, has raised a $10m Series D round.

PubMatic, a strategic selling platform to help publishers sell media, raised a $13m round.

Finance

PayNearMe is a cash transaction network that lets consumers use cash to repay loans, pay rent and make online payments,  has raised a $20m Series E round.

Energy

Primus Power , a leader in distributed, cost effective energy for improving electric stability and security, raised a $20m Series C round.  Congratulations to Tom Stepien, CEO!

Education

Remind101, “a safe way for teachers to text message students and stay in touch with parents,” raised a $15m Series B round.

India

jabong.com, a retail platform portal in India, raised a $28m partial round.

Myntra, India’s largest online fashion and lifestyle store, raised a $50m round.

China

raksul, a Chinese print agency, has raised a $14m round.

Have a great week!

Margaret Johns

Founder & Managing Director

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[1] WSJ, Moneybeat February 4, 2014

[2] Certain information from Renaissance Capital

[3] From Tech Crunch, Company websites, and other sources.

[4] From Tech Crunch, Company websites, and other sources.