POPULARITY
5 episodes with gp bullhound
2 episodes with gp bullhound
5 episodes with gp bullhound
3 episodes with gp bullhound
2 episodes with gp bullhound
3 episodes with gp bullhound
3 episodes with gp bullhound
2 episodes with gp bullhound
2 episodes with gp bullhound
Welcome to a new episode of the EUVC podcast, where our good friends Dan Bowyer and Mads Jensen from SuperSeed have a discussion with Ben Prade, Partner at GP Bullhound, to cover recent news and movements in the European tech landscape.
Joakim Dal är idag partner på GP Bullhound där han investerar i teknikdrivna tillväxtbolag inom ramen för bolagets VC-fonder. Vad många kanske inte vet är att han en gång i tiden blev anställd av Robert på Remium innan sejourer på både Morgon Stanley och EQT. Vi får under samtalet en inblick i hur investeringar i bolag som Spotify, Klarna med flera gick till.
Världens högst värderade bolag Nvidia går som tåget, det visar den senaste kvartalsrapporten. Samtidigt varnar Europeiska centralbanken för risken för en potentiell AI-bubbla. Lyssna på alla avsnitt i Sveriges Radio Play. Programledare:Erika MårtenssonMedverkande:Sven Carlsson, techreporter EkotInge Heydorn, förvaltare på GP Bullhound
Världens högst värderade bolag Nvidia går som tåget, det visar den senaste kvartalsrapporten. Samtidigt varnar Europeiska centralbanken för risken för en potentiell AI-bubbla. Lyssna på alla avsnitt i Sveriges Radio Play. Programledare:Erika MårtenssonMedverkande:Sven Carlsson, techreporter EkotInge Heydorn, förvaltare på GP Bullhound
This episode was recorded live at Web Summit with Andrew Skrypnyk, CEO and co-founder of Promova, a language learning platform that's making waves in the EdTech space. With a recent nomination for the 2024 Allstars Awards by GP Bullhound and a spot on Forbes' 30 Under 30 list, Andrew brings a unique perspective on the evolving landscape of education technology and the future of accessible learning. From his move from Ukraine to San Francisco, where he expanded Promova's reach, to achieving 15 million downloads and 1.8 million active users, Andrew's journey is nothing short of inspiring. We discuss the challenges of competing in a saturated market against giants like Duolingo and Babbel, and explore Promova's path to profitability in just two years. Andrew shares insights on how the platform has evolved from a simple flashcard app to a comprehensive, personalized learning tool designed with inclusivity at its core. We discuss innovative features like Dyslexia Mode, which aims to make language learning accessible to neurodivergent individuals, and the balance of AI and human interaction in creating an effective educational experience. Andrew also sheds light on Promova's partnership with the Ukrainian government, offering free premium access to all Ukrainians, a commitment to support language learning during times of crisis. As he prepares to speak at Web Summit 2024 on the panel "Teaching for Tomorrow's Jobs Today," Andrew offers a glimpse into the future of EdTech and the growing importance of adapting content for diverse learning needs. Is the future of education technology rooted in personalization and inclusivity? Can language learning apps blend AI with the human touch to deliver better outcomes? Tune in to find out, and share your thoughts after the episode!
Ivo Polten startet bei MCF Corporate Finance als Partner und Leiter des im Aufbau befindlichen Standorts in München. In diesem Spotlight erklärt Polten, der von GP Bullhound kommt, warum die bayerische Landeshauptstadt eine logische Dependance ist und was im neuen Büro erreicht werden soll.
On the podcast: Our guest today is Eric Crowley, a tech investment banker with GP Bullhound where he provides transaction advice and capital to top companies in the Consumer Subscription Software space.In this episode, we talk with Eric about the rebound of consumer subscription valuations and investor interest, how to generate Net Revenue Retention in consumer, and why you should pinpoint where your app sits on Maslow's Hierarchy of Needs.Key Takeaways:
Die Funding-Flaute bei Tech-Unicorns scheint vorbei, es gibt wieder Zugang zu Kapital. Bringen sich parallel Strategen in Stellung? Das Tech-M&A-Update von GP Bullhounds DACH-Chef Martin Rezaie.Mehr als 90 Prozent der europäischen „Unicorns“ – Start- oder Scale-ups mit einem Unternehmenswert von über 1 Milliarde Euro – haben zuletzt 2021 oder 2022 Finanzierungsrunden platzieren können. Seitdem herrscht Ebbe, und viele Unicorns versuchen, ihre „Cash Runway“ zu verlängern, indem sie ihre Wachstumspläne zurechtstutzen und dem Sprung in die Gewinnzone den Vorrang geben. „Denjenigen, die den Cash-Breakeven geschafft haben, gibt das jetzt die Freiheit, nicht auf neue Funding-Runden oder M&A-Exits um jeden Preis angewiesen zu sein“, lobt der Tech-Investmentbanker Martin Rezaie, DACH-Chef von GP Bullhound, gegenüber FINANCE-TV die Überwinterungsstrategie der meisten Management-Teams. Nun aber scheint sich das Bild zu wandeln: „Die Funding-Flaute bei Tech-Unicorns ist vorbei. Gute Unternehmen haben wieder Zugang zu Kapital“, berichtet Rezaie. Und just zu diesem Zeitpunkt scheint – glaubt man dem M&A-Berater – auch das Interesse strategischer Käufer an Akquisitionen starker Tech-Unternehmen neu zu erwachen. Was die großen Konzerne aktuell noch davon abhält, die schwierige Finanzierungslage mancher Unicorns entschlossener für M&A-Offerten auszunutzen und ob sich auch Chancen für Midcap-PE-Investoren ergeben könnten – die Antworten hier bei FINANCE-TV.
Inge Heydorn från GP Bullhound gästar ett extra långt avsnitt för att grundligt gå igenom HELA kedjan av AI-bolag på börsen. Vilka segment finns? Vilket bolag gör vad? Och vilka kan bli vinnarna på kort och lång sikt? 03:57 Nvidia, 13:53 Broadcom, 17:15 ARM, 20:29 AMD, 23:00 Intel, 25:48 Nanometer, 31:21 TSMC, 34:39 Google, 40:28 Mycronic, 44:06 Palantir, 48:42 Open AI/Meta/Google, 52:34 Datadog. Bli kund hos Nordnet och få 200 kr i fonder: nordnet.se/erbjudande. Disclaimer: Kom ihåg att investeringar alltid innebär en risk.
Ofelia Aspemyr, analytiker på GP Bullhound, gästar podden för att prata om de stora techbolagen och techtrenderna. Vi kan inte prata tech utan att uppdatera kring det senaste om Nvidia och Apple. I och med att Ofelia är analytiker passar vi även på att fråga hur hon gör en bolagsanalys. Podden leds av Daniel Ljungström. Investeringar i finansiella instrument är förknippade med risk och en investering kan både öka och minska i värde eller komma att bli värdelös. Historisk avkastning är ingen garanti för framtida avkastning. Ingen del av podcasten skall uppfattas som en uppmaning eller rekommendation att utföra eller disponera över någon typ av investering eller att ingå några andra transaktioner. De uppfattningar som redogjorts för i podcasten återspeglar de medverkandes uppfattning för tillfället och kan således komma att ändras. Informationen i podcasten tar inte hänsyn till någon specifik mottagares särskilda investeringsmål, ekonomiska situation eller behov. Informationen är inte att betrakta som en personlig rekommendation eller ett investeringsråd. Adekvat och professionell rådgivning skall alltid inhämtas innan några investeringsbeslut fattas och varje sådant investeringsbeslut fattas självständigt av kunden och på dennes eget ansvar. Max Matthiessen frånsäger sig allt ansvar för direkt eller indirekt förlust eller skada som grundar sig på användandet av information i podcasten.
Ofelia Aspemyr, analytiker på GP Bullhound, gästar podden för att prata om de stora techbolagen och techtrenderna. Vi kan inte prata tech utan att uppdatera kring det senaste om Nvidia och Apple. I och med att Ofelia är analytiker passar vi även på att fråga hur hon gör en bolagsanalys. Podden leds av Daniel Ljungström. Investeringar i finansiella instrument är förknippade med risk och en investering kan både öka och minska i värde eller komma att bli värdelös. Historisk avkastning är ingen garanti för framtida avkastning. Ingen del av podcasten skall uppfattas som en uppmaning eller rekommendation att utföra eller disponera över någon typ av investering eller att ingå några andra transaktioner. De uppfattningar som redogjorts för i podcasten återspeglar de medverkandes uppfattning för tillfället och kan således komma att ändras. Informationen i podcasten tar inte hänsyn till någon specifik mottagares särskilda investeringsmål, ekonomiska situation eller behov. Informationen är inte att betrakta som en personlig rekommendation eller ett investeringsråd. Adekvat och professionell rådgivning skall alltid inhämtas innan några investeringsbeslut fattas och varje sådant investeringsbeslut fattas självständigt av kunden och på dennes eget ansvar. Max Matthiessen frånsäger sig allt ansvar för direkt eller indirekt förlust eller skada som grundar sig på användandet av information i podcasten.
”Alla” pratar om AI, elbilar och halvledare. Teknikfonder går som tåget och det verkar inte finnas något slut på uppgångarna. Vi bjöd i Nejla Salkovic från GP Bullhound för att bättre få en bild av läget, möjligheterna och eventuella risker. Vi inleder avsnittet med en genomgång av vår syn på börsen. Podden leds av Daniel Ljungström. Fondfaktablad och annat relevant information för fonden GP Bullhound Global Technology Fund hittar du på finserve.se. Investeringar i finansiella instrument är förknippade med risk och en investering kan både öka och minska i värde eller komma att bli värdelös. Historisk avkastning är ingen garanti för framtida avkastning. Ingen del av podcasten skall uppfattas som en uppmaning eller rekommendation att utföra eller disponera över någon typ av investering eller att ingå några andra transaktioner. De uppfattningar som redogjorts för i podcasten återspeglar de medverkandes uppfattning för tillfället och kan således komma att ändras. Informationen i podcasten tar inte hänsyn till någon specifik mottagares särskilda investeringsmål, ekonomiska situation eller behov. Informationen är inte att betrakta som en personlig rekommendation eller ett investeringsråd. Adekvat och professionell rådgivning skall alltid inhämtas innan några investeringsbeslut fattas och varje sådant investeringsbeslut fattas självständigt av kunden och på dennes eget ansvar. Max Matthiessen frånsäger sig allt ansvar för direkt eller indirekt förlust eller skada som grundar sig på användandet av information i podcasten.
”Alla” pratar om AI, elbilar och halvledare. Teknikfonder går som tåget och det verkar inte finnas något slut på uppgångarna. Vi bjöd i Nejla Salkovic från GP Bullhound för att bättre få en bild av läget, möjligheterna och eventuella risker. Vi inleder avsnittet med en genomgång av vår syn på börsen. Podden leds av Daniel Ljungström. Fondfaktablad och annat relevant information för fonden GP Bullhound Global Technology Fund hittar du på finserve.se. Investeringar i finansiella instrument är förknippade med risk och en investering kan både öka och minska i värde eller komma att bli värdelös. Historisk avkastning är ingen garanti för framtida avkastning. Ingen del av podcasten skall uppfattas som en uppmaning eller rekommendation att utföra eller disponera över någon typ av investering eller att ingå några andra transaktioner. De uppfattningar som redogjorts för i podcasten återspeglar de medverkandes uppfattning för tillfället och kan således komma att ändras. Informationen i podcasten tar inte hänsyn till någon specifik mottagares särskilda investeringsmål, ekonomiska situation eller behov. Informationen är inte att betrakta som en personlig rekommendation eller ett investeringsråd. Adekvat och professionell rådgivning skall alltid inhämtas innan några investeringsbeslut fattas och varje sådant investeringsbeslut fattas självständigt av kunden och på dennes eget ansvar. Max Matthiessen frånsäger sig allt ansvar för direkt eller indirekt förlust eller skada som grundar sig på användandet av information i podcasten.
Im Herbst 2023 hat Julian Riedlbauer verkündet, dass er GP Bullhound nach elf Jahren verlässt – allerdings ohne schon zu erwähnen, wohin es ihn verschlägt. Jetzt ist es raus: Zum Jahreswechsel ist der M&A-Experte als Partner bei Drake Star eingestiegen. In diesem Spotlight erklärt er, was ihn zum Wechsel bewogen hat und wohin die Reise mit der Tech-Investmentbank nun gehen soll.
Nach mehr als 10 Jahren als Deutschlandchef der M&A Boutique GP Bullhound widmet sich Julian Riedlbauer von 2024 an neuen beruflichen Herausforderungen. Martin Rezaie übernimmt den Posten und erklärt im Spotlight, welchen Stil er als Manager pflegt und welche Ziele er verfolgt.
Sorry! Akustisch ist uns diese Aufnahme leider misslungen. Unsere Themen: Investment-Klima - Naro - Kickdown - Metycle - Infarm - arive - Getir - Flink - SellerX - Razor - N26 - Trade Republic - Scalable Capital - Caesar Ventures - Greenfield - 468 Capital - Rocket Internet - Realyze Ventures +++ Zur Lage der Startup-Nation #ANALYSE +++ Neue Deals: Naro, Kickdown und Metycle #EXKLUSIV +++ So steht es um Infarm, arive, Getir, Flink, SellerX und Razor #ANALYSE +++ So profitieren N26, Trade Republic und Scalable Capital vom Zinshoch #ANALYSE +++ VC-News: Caesar Ventures, Greenfield, 468 Capital, Rocket Internet und Realyze Ventures #ANALYSE Unser Sponsor Die heutige Ausgabe wird präsentiert von GP Bullhound. Auch in der aktuellen Marktphase können gute Firmen weiterhin größere Finanzierungsrunden und gute Exits an Private Equity Investoren und strategische Käufer realisieren. Jedoch ist es natürlich jetzt besonders wichtig, erstklassig vorbereitet und dadurch mit sehr guten Materialien und Equity Stories wirklich alle potenziellen Käufer und Investoren anzusprechen und in den Prozess mit einzubeziehen. Daher ist die Beratungsleistung der internationalen Technologie M&A-Beratungsfirma GP Bullhound wichtiger denn je. Die Mitarbeiter von GP Bullhound arbeiten jeden Tag hart daran, den Erfolg für Ihre Mandanten sicherzustellen. Den deutschen GP Bullhound-Partner Martin Rezaie könnt Ihr jederzeit über LinkedIn oder über die Kontaktdaten auf der Website von GP Bullhound erreichen. Mehr unter www.gpbullhound.com. Vor dem Mikro Alexander Hüsing, deutsche-startups.de - www.linkedin.com/in/alexander-huesing/ Sven Schmidt, Maschinensucher - www.linkedin.com/in/sven-schmidt-maschinensucher/ Hintergrund Der deutsche-startups.de-Podcast besteht aus den Formaten #Insider, #StartupRadar, #Interview und #Startup101. Mehr unter: www.deutsche-startups.de/tag/Podcast/ Anregungen bitte an podcast@deutsche-startups.de. Unseren anonymen Briefkasten findet ihr hier: www.deutsche-startups.de/stille-post/
Diese Woche im Tech Briefing:Thema der Woche: Der American Dream zog die Menschen aus der alten in die neue Welt über den großen Teich. Die heutige Welle der Einwanderung besteht nun junge Unternehmen, die nicht vom American Dream, sondern vom Inflation Reduction Act (IRA) angezogen werden. Versprechen von Ruhm und Reichtum wurden durch Zusagen über Steuererleichterungen, einfache Bürokratie und staatliche Förderungen abgelöst.Plus: Greentech, also Technologien zum Schutz der Umwelt, galt lange vor allem ein europäisches Thema. Doch vor allem Unternehmen, die sich grünen Energien und der Reduktion von Emissionen verschrieben haben, zieht es in die USA. Auch der Schweizer Solarzellen-Hersteller Meyer Burger reagiert auf die milliardenschweren Lockrufe aus den USA. In Deutschland will Meyer Burger aber erst wieder weiterplanen, wenn die Rahmenbedingungen passen.Deshalb: Was genau sind das für Rahmenbedingungen? Das sind vier der Gründe, warum Greentechs in die USA abwandern. Dazu im Gespräch: Julian Riedlbauer von GP Bullhound und Heike Freund, COO von Marvel Fusion.Plus: Nachrichten aus der Welt der BigTech, Startups und TechnologieLink zu Folge über Kernfusion: https://www.thepioneer.de/originals/tech-briefing/podcasts/die-gezaehmte-supernova-die-pioniere-von-kernfusion-und-new-spaceLinks zu Video über Kernfusion: https://www.thepioneer.de/originals/tech-briefing/videos/4-ideen-x-120-sekunden-1-schiff-pioneers-for-futureLink zu Folge über Climeworks: https://www.thepioneer.de/originals/tech-briefing/podcasts/der-co-staubsauger-letzte-chance-fuer-das-klima-oder-geldverschwendungTickets zur MY WAY:https://myway.thepioneer.de/Haben Sie Fragen? Schreiben Sie uns gerne eine Mail an kontakt@mediapioneer.com.Moderation: Christoph Keese und Lena Waltle Redaktionsassistenz: Clara Meyer-HornProduktion: Mikolaj Wirz Hosted on Acast. See acast.com/privacy for more information.
On the podcast: The B2B opportunity for B2C apps, the App Store alone being bigger than most Fortune 500 companies, and which current or future company will build the Berkshire Hathaway of consumer subscriptions.Top Takeaways
Alla snackar AI. Är det för sent att som investerare att köpa in sig i trenden nu? Om inte, var hittar du i så fall vinnarna? Det diskuteras i detta avsnitt med Nejla Salkovic, som är analytiker på GP Bullhound.
Today's guest is Eric Crowley, partner at GP Bullhound. GP Bullhound is an investment bank and venture capital fund with 11 offices in the US and Europe. Eric leads the firm's Consumer Subscription Software (“CSS”) practice while executing transactions for growth-stage technology companies. In addition to CSS, Eric has advised on transactions in the Ad-tech, Software and Digital Services, and Fintech industries. He joins Emerj Senior Editor Matthew DeMello on the program to discuss the promise of generative AI in financial services and how businesses leveraging AI can better prepare for conversations with investors. If you've enjoyed or benefited from some of the insights of this episode, consider leaving us a five-star review on Apple Podcasts, and let us know what you learned, found helpful, or liked most about this show!
Et si le succès économique de Marco Vasco, vendu en 2017 entre 50 et 100 millions d'euros au Groupe Figaro, était né sur un banc de Shanghai, à 5 h du matin, une nuit de 2007 ? En écoutant son fondateur Geoffroy de Becdelièvre raconter les 11 ans d'histoire de l'entreprise jusqu'à la cession, on peut le penser. Ce fameux pivot cher à la tech a été le déclencheur d'un business florissant, jusqu'à atteindre plus de 60 millions d'euros de chiffre d'affaires allié à une rentabilité à faire pâlir tous les entrepreneurs de startups.L'aventure entrepreneuriale de Geoffroy de Becdelièvre est aussi une manière de prouver que l'intuition a parfois du bon et qu'elle vaut toutes les études de marché. Sentant une inflation des coûts d'acquisition en ligne, il développe un spécialiste du voyage sur mesure sur internet avec un puissant référencement naturel. Évidemment, l'histoire est trop belle pour ne pas attirer les regards. La mariée est belle. Après une levée en secondaire lui assurant déjà un peu de cash, il est temps de franchir le pas et de vendre Marco Vasco. C'est cette plongée dans la cession de son entreprise, dans les détails des 3 offres reçues et dans la vie d'après, empreinte de liberté de décision, que Geoffroy de Becdelièvre vous embarque. Bonne écoute !Dans cet épisode, on cite GP Bullhound, Guillaume Bonneton, Cambon, Laurent Azout, Charles Letourneur, David Amsellem, Nicolas Bazin, Marc Feuillée, TooGoodToGoPour ce flashback, Geoffroy a choisi d'être accompagné par :Sweet Dreams (Are Made of This) - Annie Lennox, Dave Stewart et EurythmicsL'aventurier - IndochineJames Blunt - You're beautiful Publicité Loto - Au-revoir présidentWonderful Life - Katie MeluaRiders on the Strom - Jim Morrison and The DoorsÀ vos écouteurs
+++ Millionenexit beim Berliner Startup Blinkist #EXKLUSIV +++ Flink-Bewertung sinkt bei neuer Investmentrunde massiv #EXKLUSIV +++ Altinvestoren setzen weiter auf Tier Mobility #EXKLUSIV +++ Seller X setzt auf weitere Übernahme #EXKLUSIV +++ Personio: Anteile mit starkem Abschlag im Markt #EXKLUSIV +++ SAP investiert doch nicht in Aleph Alpha #EXKLUSIV Unser Sponsor Die heutige Ausgabe wird präsentiert von GP Bullhound. Auch in der aktuell schwierigen Marktphase können gute Firmen weiterhin größere Finanzierungsrunden und gute Exits an Private Equity Investoren und strategische Käufer realisieren. Jedoch ist es natürlich jetzt besonders wichtig, erstklassig vorbereitet und dadurch mit sehr guten Materialien und Equity Stories wirklich alle potenziellen Käufer und Investoren anzusprechen und in den Prozess mit einzubeziehen. Daher ist die Beratungsleistung der internationalen Technologie M&A-Beratungsfirma GP Bullhound wichtiger denn je. Über 180 Mitarbeiter weltweit und über 20 in Deutschland arbeiten jeden Tag hart daran, den Erfolg für Ihre Mandanten sicherzustellen. Die deutschen GP Bullhound Partner Julian Riedlbauer, Ivo Polten und Martin Rezaie können ihr jederzeit über LinkedIn oder die Kontaktdaten auf der Website von GP Bullhound erreichen. Mehr unter www.gpbullhound.com. Vor dem Mikro Alexander Hüsing, deutsche-startups.de - www.linkedin.com/in/alexander-huesing/ Sven Schmidt, Maschinensucher - www.linkedin.com/in/sven-schmidt-maschinensucher/ Hintergrund Der deutsche-startups.de-Podcast besteht aus den Formaten #Insider, #StartupRadar, #Interview und #Startup101. Mehr unter: www.deutsche-startups.de/tag/Podcast/ Anregungen bitte an podcast@deutsche-startups.de. Unseren anonymen Briefkasten findet ihr hier: www.deutsche-startups.de/stille-post/
App Masters - App Marketing & App Store Optimization with Steve P. Young
Today's guest is Eric Crowley who is a Partner at GP Bullhound where they support entrepreneurs of consumer subscription software companies as they look to raise capital or undergo M&A or an exit. You will discover: - The Entrepreneurial Clock Framework - what to focus on depending on what stage the company is in - The Upside Triangle and why the riches are in the niches - Is there really subscription fatigue? - And are upfront paid apps coming back? App Audits: https://apps.apple.com/us/app/litpro-mx-gps-lap-timer/id940870782 https://apps.apple.com/us/app/gardenize-plant-care-journal/id1118448120 You can watch this video: https://youtube.com/live/0tNwnV6f_48https://youtube.com/live/0tNwnV6f_48 Work with us to grow your apps faster & cheaper: http://www.appmasters.com/ SPONSORS Growing your app beyond a certain point by yourself is almost impossible as the your beloved baby must mature and transform into a company. Bluethrone's new partnership model is better than a VC Investment: It gives you cash in hand, your life back and the right to see your app adopted by millions, and making millions. Got an app idea that you think will be the next unicorn? But you don't know what to do next? With more than 15 years of experience creating software, B7dev.com can help you out. Schedule a free 1-hour call by going to B7Dev.com and let them know that Steve sent you. Tired of overpaying for App Store Optimization? Get unlimited ASO and app marketing support to increase your keyword rankings, downloads, and revenue. Learn more at ASO Masters. *************** Follow us: YouTube: AppMasters.com/YouTubeInstagram: @stevepyoungTwitter: @stevepyoungTikTok: @stevepyoungFacebook: App Masters *************** --- Send in a voice message: https://podcasters.spotify.com/pod/show/app-marketing-podcast/message
In der Mittagsfolge sprechen wir heute mit Julian Riedlbauer, Partner und Leiter des deutschen Büros bei GP Bullhound, über den aktuellen Bankencrash in den USA und die Bedeutung auf deutsche Startups.Nach der Pleite der kalifornischen Silicon Valley Bank versuchen die US-Behörden nun die Anleger mit einer Reihe von Maßnahmen zu beruhigen. Sämtliche Einlagen bei dem auf die Finanzierung von Technologiefirmen spezialisierten Geldhaus sollen geschützt werden, wie die US-Notenbank Federal Reserve, der Einlagensicherungsfonds FDIC und das Finanzministerium gemeinschaftlich mitteilten. Die Steuerzahlenden sollen keine Verluste im Zusammenhang mit der Abwicklung der Silicon Valley Bank tragen müssen. Die Aufsichtsbehörden haben nun auch die New Yorker Signature Bank geschlossen, was die dritte große Bankenpleite innerhalb einer Woche darstellt. Die Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) hat heute gegenüber der Silicon Valley Bank Germany Branch aufgrund der bestehenden Gefahr für die Erfüllung der Verpflichtungen gegenüber Gläubigern ein Veräußerungs- und Zahlungsverbot erlassen. Außerdem ordnete die BaFin ein Moratorium an.GP Bullhound ist eine Technologieberatungs- und Investmentfirma, die Unternehmerinnen, Unternehmern und Foundern weltweit Transaktionsberatung und Kapital zur Verfügung stellt.
Vi träffar Inge Heydorn som är Partner på GP. Bullhound och har en lång karriär som Tech-investerare. Han pratar Tech, varför han vill investerar i oligopol, investeringsstrategi, timing och mycket mer.
Despite a lot of doom and gloom out there about the slowdown of VC investment and how start-ups need to brace for the impact, smart and well-disciplined investors are still looking for home runs, and funding opportunities are still available for the best subscription app companies. In this episode with Eric Crowley, partner at GP Bullhound, we talk about Consumer Subscription Software Flywheel, the investment north star that defines the main attributes of a successful CSS.Then we talk about how subscription apps can maximize investors' attention by Building a paradigm-shifting Consumer Subscription Business Paring UX and UI with high-quality content and proprietary dataTargeting a nicheThinking as a third-partyListen to the episode to find out more about the investor's inside scoop.For noteworthy quotes and key takeaways from the episode, read the article - What venture investors look for in subscription apps with Eric Crowley (GP Bullhound).Episode Topics at a GlanceConsumer Subscription FlywheelWhat GP Bullhound look for in a companyUX and UKThe role of premium content and proprietary dataSuccess examplesHow to be the king of a niche GP Bullhound's eventsMore about Eric CrowleyEric is a Partner at GP Bullhound, focusing primarily on M&A, Capital Raises, and Advisory transactions with expertise in consumer subscription software, tech-enabled agencies and ad-tech. Over his career, he has completed transactions totaling over $3 billion in enterprise value. Prior to GP Bullhound, Eric served as an executive at a software start-up where he focused on financial management and driving growth. In addition, Eric worked at Lazard and Antares Capital focusing on middle market transactions.In addition to his CPA, Eric has an MBA from the University of Chicago and a B.S. degree from Xavier University.Eric Crowley's LinksEric Crowley's LinkedIn profileCSS Spinning the CSS flywheel to delight consumers.Medium.com articles by Eric CrowleyTechcrunch article - Taking consumer subscription software to the great outdoorsTimestamps00:20 Introducing Eric Crowley and GP Bullhound01:08 Consumer subscription flywheel03:35 What GP Bullhound looks for to invest in companies05:13 The importance of UX and UI06:55 The role proprietary data takes in building a business mode08:41 Transitioning from founder-backed to venture-backed companies11:20 Post-pandemic subscription net businesses12:59 Examples of creative ways to engage consumers15:01 Will the Winner-Take-All trend continue?16:56 Best success stories18:24 The digital to analogue transition19:28 Should funders worry about reaching specific APIs?21:03 Consumer subscription software conference23:10 Where to learn more about GP BullhoundTrancript
Die Themen: Cherry Ventures - Jasper Masemann - Vimcar - Razor Group - Restate - Flink - sennder - Choco - Lendis - Workmotion +++ Jasper Masemann geht zu Cherry Ventures #EXKLUSIV +++ Battery Ventures übernimmt Vimcar #EXKLUSIV +++ SellerX-Investor L Catterton steht vor Investment in Razor Group #EXKLUSIV +++ Redpoint Ventures investiert in Restate #EXKLUSIV +++ Flink schickt Österreich-Ableger in die Insolvenz #ANALYSE +++ sennder und Choco sammeln Millionen ein #ANALYSE +++ Lendis und Workmotion entlassen Mitarbeiter:innen #ANALYSE Unser Sponsor Die heutige Ausgabe wird präsentiert von GP Bullhound. Die globale Technologie-Investmentbank GP Bullhound berät mit weltweit rund 180 Mitarbeiterinnen und Mitarbeitern Digital-Firmen bei Growth Equity Fundraising-Mandaten und bei Firmenverkäufen an Private Equity-Investoren und strategische Käufer. Sie sind begeisterte Hörer unserer Podcasts, aber liefern uns (leider) nie Informationen, weil sie es sehr ernst meinen mit der Vertraulichkeit. Mandanten waren etwa Signavio, Innogames, Mambu, GoStudent, ottonova, Echobot und Egoditor. Besonders jetzt ist die Beratung einer Investmentbank wichtig, um wirklich gut vorbereitet und mit erstklassigen Materialien und durch einen strukturierten Fundraising- oder Exit-Prozess so viel Nachfrage von Käufern und Investoren wie momentan noch möglich generieren zu können. Dadurch wird das Marktinteresse wirklich breit geprüft. Die Bieter werden in Wettbewerb zueinander gebracht. Das steigert die Bewertung und erhöht die Abschlusswahrscheinlichkeit. Die deutschen GP Bullhound-Partner Julian Riedlbauer in Berlin, der Neuzugang Martin Rezaie in Frankfurt und Ivo Polten in München sind jederzeit per LinkedIn oder über die Kontaktdaten auf der Firmenwebsite ansprechbar. Mehr unter www.gpbullhound.com. Vor dem Mikro Alexander Hüsing, deutsche-startups.de - www.linkedin.com/in/alexander-huesing/ Sven Schmidt, Maschinensucher - www.linkedin.com/in/sven-schmidt-maschinensucher/ Hintergrund Der deutsche-startups.de-Podcast besteht aus den Formaten #Insider, #StartupRadar, #Interview und #Startup101. Mehr unter: www.deutsche-startups.de/tag/Podcast/ Anregungen bitte an podcast@deutsche-startups.de. Unseren anonymen Briefkasten findet ihr hier: www.deutsche-startups.de/stille-post/
Subscriptions: Scaled - A podcast about subscription businesses
On this episode, we speak with Eric Crowley, Partner at GP Bullhound.Over time, consumers have been trained by companies like Netflix and Spotify to be happy with paying for digital subscriptions.Previously, companies primarily built business by monetizing with advertising — a three-way relationship between the user, the advertiser and the company.With subscriptions, it's easier to succeed in a one-on-one relationship between the company and the consumer. As a result, products keep getting better and faster.So what's the next big opportunity for subscription services?Today, Eric covers why consumers are more comfortable with subscriptions, the opportunities companies have with bundling and partnering on subscriptions, and why the subscriptions you see today are higher quality than they have been in the recent past.Learn more about GP Bullhound at https://www.gpbullhound.com/ Ready to get started with Rebar?Head to rebartechnology.com or email info@rebartechnology.com to schedule a call today. #Saas #subscriptions #subscriptionbusiness #subscriptionservice
On this podcast, we had app marketers, developers, advertisers, and experts in various areas of the app industry. All these people shared their expertise, gave their take on challenging questions, and shared their dreams and hopes for the industry. Today, I want to give you a perspective from somebody who is, in my opinion, in the best position to give us a bird-view of the app industry and talk about where are and where we're going. Eric will cover multiple bases, giving us the highlights from the Consumer Subscription Software report, issued by GP Bullhound investment bank recently. Today's Topics Include: The current state of the app market The most dynamic and promising app categories of today Obstacles and roadblocks for the app industry today How Eric assesses the app's potential, what KPIs are considered One-time customers vs loyal ones, tourists vs locals App Subscription Renewal rates New app user acquisition channels What app owners need to prepare to sell their apps or fundraise Android or iOS? iOS Eric's first mobile phone was a Cingular Wireless Touchphone What features would Jennie miss most? WhatsApp and iMessage What's missing from mobile app technology? Software, hardware, or magic that allow people to isolate themselves from their phones for several hours a day. Links and Resources: Eric Crowley on LinkedIn BP Bullhound Consumer Subscription Software 2022 - The Evolution of CSS Business Of Apps - connecting the app industry Quotes from Eric Crowley: “There are great prices being paid for great companies at any time, even if there is a recession. If it's a great business someone will pay the price.” “The biggest thing is App Tracking Transparency (ATT) rolled out. There is no way to put it differently - it was a huge hit to the space.” “TikTok - it's easy to get a lot of views, it's really hard to get retention and engagement.” Follow the Business Of Apps podcast Linkedin | Twitter | Facebook | YouTube
On this podcast, we had app marketers, developers, advertisers, and experts in various areas of the app industry. All these people shared their expertise, gave their take on challenging questions, and shared their dreams and hopes for the industry. Today, I want to give you a perspective from somebody who is, in my opinion, in the best position to give us a bird-view of the app industry and talk about where are and where we're going. Eric will cover multiple bases, giving us the highlights from the Consumer Subscription Software report, issued by GP Bullhound investment bank recently. Today's Topics Include: The current state of the app market The most dynamic and promising app categories of today Obstacles and roadblocks for the app industry today How Eric assesses the app's potential, what KPIs are considered One-time customers vs loyal ones, tourists vs locals App Subscription Renewal rates New app user acquisition channels What app owners need to prepare to sell their apps or fundraise Android or iOS? iOS Eric's first mobile phone was a Cingular Wireless Touchphone What features would Jennie miss most? WhatsApp and iMessage What's missing from mobile app technology? Software, hardware, or magic that allow people to isolate themselves from their phones for several hours a day. Links and Resources: Eric Crowley on LinkedIn BP Bullhound Consumer Subscription Software 2022 - The Evolution of CSS Business Of Apps - connecting the app industry Quotes from Eric Crowley: “There are great prices being paid for great companies at any time, even if there is a recession. If it's a great business someone will pay the price.” “The biggest thing is App Tracking Transparency (ATT) rolled out. There is no way to put it differently - it was a huge hit to the space.” “TikTok - it's easy to get a lot of views, it's really hard to get retention and engagement.” Follow the Business Of Apps podcast Linkedin | Twitter | Facebook | YouTube
On the podcast we talk with Eric about the largest consumer marketplace that's ever existed, the growing exit opportunities for Consumer Subscription Software businesses, and why the CSS industry may be relatively recession-proof.Top Takeaways
In der Mittagsfolge sprechen wir heute mit Martin Betzwieser, CFO von Ottonova, über die erfolgreich abgeschlossene Series-F-Finanzierungsrunde in Höhe von 34 Millionen Euro. Ottonova ist eine private Krankenversicherung, welche mit innovativen und digitalen Services ihre Kundinnen und Kunden dabei unterstützt, ihre Gesundheit zu steigern. Dabei setzt das Startup auf digitale Technologien, eine schnelle und persönliche Beratung via Chat sowie zahlreiche weitere Features, damit auf die Bedürfnisse der Kundinnen und Kunden, dem mobilen Zeitalter entsprechend eingegangen werden kann. Das Portfolio des Jungunternehmens umfasst neben privaten Krankenvollversicherungen und Krankenzusatzversicherungen auch Software-Lösungen für die Versicherungsbranche. Ottonova wurde im Jahr 2015 von Frank Birzle, Roman Rittweger und Sebastian Scheerer in München gegründet. Mittlerweile beschäftigt das InsurTech mehr als 200 Mitarbeitende. Im Jahr 2021 wurde das Startup im Rahmen der KUBUS-Studie unter privaten Krankenversicherungen zum dritten Mal in Folge zum Versicherer mit der höchsten Kundenzufriedenheit gekürt. Seit 2022 ist das Jungunternehmen zudem als klimaneutrales Unternehmen zertifiziert. In einer Series-F-Finanzierungsrunde hat Ottonova nun 34 Millionen Euro unter der Führung von Cadence Growth Capital (CGC) eingesammelt. CGC ist ein wachstumsorientierter Private-Equity-Investor, der sich auf technologieorientierte Unternehmen in der DACH-Region konzentriert, die ein starkes organisches und anorganisches Wachstumspotenzial aufweisen. Neben dem Kapital stellt der VC auch sein operatives Know-how und ein umfangreiches Netzwerk zur Verfügung. CGC verwaltet ein Vermögen von über 200 Millionen Euro. Bereits bestehende Investoren und ein deutsches Family Office haben sich ebenfalls an der Runde beteiligt. Die Serie F wurde von GP Bullhound als Financial Advisor begleitet. Zudem waren Hengeler Mueller als Legal Advisor von Ottonova und CMS als Legal Advisor von CGC beteiligt. In der Vergangenheit konnte Ottonova bereits Investoren wie Earlybird Venture Capital, HV Capital und Btov Partners von sich überzeugen. Insgesamt hat das Startup inzwischen etwa 159 Millionen Euro in Finanzierungsrunden eingesammelt. Mit dem frischen Kapital möchte der Münchner Krankenversicherer seinen Fokus auf Profitabilität und Effizienz steigern. Somit soll die Series-F-Finanzierungsrunde die letzte gewesen sein, bevor das Startup die Gewinnschwelle erreicht. Infos der Werbepartner: Junto: Mehr Infos auf www.junto.eu/podcast OMR Reviews: One more thing wird präsentiert von OMR Reviews – Finde die richtige Software für Dein Business. Wenn auch Du Dein Lieblingstool bewerten willst, schreibe eine Review auf OMR Reviews unter https://moin.omr.com/insider. Dafür erhältst du einen 20€ Amazon Gutschein.
Die Themen: Jokr - Flink - Chronext - Elise - advastore - RealPort - Enpal - PlusDental +++ Jokr sucht bis zu 50 Millionen #EXKLUSIV +++ Flink wird zum Immobilienmakler #ANALYSE +++ Chronext plant die letzte Investmentrunde #EXKLUSIV +++ Spark Capital investiert in Elise #EXKLUSIV +++ Cherry Ventures, DN Capital und Co. investieren in advastore #EXKLUSIV +++ Cusp Capital investiert in RealPort #EXKLUSIV +++ Enpal peilt 2 Milliarden-Bewertung an #ANALYSE +++ PlusDental entlässt rund 300 Mitarbeiter:innen #EXKLUSIV Unser Sponsor Die heutige Ausgabe wird präsentiert von GP Bullhound. Die globale Technologie-Investmentbank GP Bullhound berät mit weltweit mehr als 180 Mitarbeitern Digital-Firmen bei Growth Equity Fundraising-Mandaten und bei Firmenverkäufen an Private Equity-Investoren und strategische Käufer. Sie sind begeisterte Hörer unserer Podcasts, aber liefern uns (leider) nie Informationen, weil sie es sehr ernst meinen mit der Vertraulichkeit. Mandanten waren zuletzt etwa Mambu, Signavio, Innogames, Echobot und Egoditor. Besonders jetzt ist die Beratung einer Investmentbank wichtig, um wirklich gut vorbereitet und mit erstklassigen Materialien und durch einen strukturierten Fundraising- oder Exit-Prozess so viel Nachfrage von Käufern und Investoren wie momentan noch möglich generieren zu können. Dadurch wird das Marktinteresse wirklich breit geprüft. Die Bieter werden in Wettbewerb zueinander gebracht. Das steigert die Bewertung und erhöht die Abschlusswahrscheinlichkeit. Die deutschen GP Bullhound.-Partner Julian Riedlbauer in Berlin und Ivo Polten in München sind jederzeit per LinkedIn oder über die Kontaktdaten auf der Firmenwebsite ansprechbar. Julian Riedlbauer: https://www.gpbullhound.com/team/julian-riedlbauer/ & Ivo Polten: https://www.gpbullhound.com/team/ivo-polten/. Vor dem Mikro Alexander Hüsing, deutsche-startups.de - www.linkedin.com/in/alexander-huesing/ & www.twitter.com/azrael74 Sven Schmidt, Maschinensucher - www.linkedin.com/in/sven-schmidt-maschinensucher/ Hintergrund Der deutsche-startups.de-Podcast besteht aus den Formaten #Insider, #StartupRadar, #Interview und #Startup101. Mehr unter: www.deutsche-startups.de/tag/Podcast/ Anregungen bitte an podcast@deutsche-startups.de. Unseren anonymen Briefkasten findet ihr hier: www.deutsche-startups.de/stille-post/
Despite a lot of doom and gloom out there about the slowdown of VC investment and how start-ups need to brace for the impact, smart and well-disciplined investors are still looking for home runs, and funding opportunities are still available for the best subscription app companies. In this episode with Eric Crowley, partner at GP Bullhound, we talk about Consumer Subscription Software Flywheel, the investment north star that defines the main attributes of a successful CSS.Then we talk about how subscription apps can maximize investors' attention by Building a paradigm-shifting Consumer Subscription Business Paring UX and UI with high-quality content and proprietary dataTargeting a nicheThinking as a third-partyListen to the episode to find out more about the investor's inside scoop.For noteworthy quotes and key takeaways from the episode, read the article - What venture investors look for in subscription apps with Eric Crowley (GP Bullhound).Episode Topics at a GlanceConsumer Subscription FlywheelWhat GP Bullhound look for in a companyUX and UKThe role of premium content and proprietary dataSuccess examplesHow to be the king of a niche GP Bullhound's eventsMore about Eric CrowleyEric is a Partner at GP Bullhound, focusing primarily on M&A, Capital Raises, and Advisory transactions with expertise in consumer subscription software, tech-enabled agencies and ad-tech. Over his career, he has completed transactions totaling over $3 billion in enterprise value. Prior to GP Bullhound, Eric served as an executive at a software start-up where he focused on financial management and driving growth. In addition, Eric worked at Lazard and Antares Capital focusing on middle market transactions.In addition to his CPA, Eric has an MBA from the University of Chicago and a B.S. degree from Xavier University.Eric Crowley's LinksEric Crowley's LinkedIn profileCSS Spinning the CSS flywheel to delight consumers.Medium.com articles by Eric CrowleyTechcrunch article - Taking consumer subscription software to the great outdoorsTimestamps00:20 Introducing Eric Crowley and GP Bullhound01:08 Consumer subscription flywheel03:35 What GP Bullhound looks for to invest in companies05:13 The importance of UX and UI06:55 The role proprietary data takes in building a business mode08:41 Transitioning from founder-backed to venture-backed companies11:20 Post-pandemic subscription net businesses12:59 Examples of creative ways to engage consumers15:01 Will the Winner-Take-All trend continue?16:56 Best success stories18:24 The digital to analogue transition19:28 Should funders worry about reaching specific APIs?21:03 Consumer subscription software conference23:10 Where to learn more about GP BullhoundTrancript
GP Bullhound ist einer der führenden Tech-Beratungen und Investment Firmen und stattet einige der besten Unternehmen und Gründerinnen und Gründer nicht nur mit Kapital, sondern auch mit viel Wissen und Markt Insights aus, um ihr Geschäft weiter verbessern und vergrößern zu können. In dieser Folge freuen wir uns auf Julian Riedlbauer. Er ist Partner und leitet die Geschäfte für den Start-up- und Tech-Markt in der DACH-Region. Seit 2012 ist er in dieser Rolle tätig und hat insgesamt mehr als 50 Technologie-M&A- und Growth-Equity-Transaktionen sowohl auf der Käufer- als auch auf der Verkäuferseite beraten oder durchgeführt. Bereits früh konnte er Erfahrung im Tech-Sektor sammeln, hat eigene Unternehmen aufgebaut und war unter anderem als Managing Director bei Electronic Partners tätig. Er teilt mit uns seine internationale Perspektive auf die Hauptstadt, wie sich die aktuelle wirtschaftliche Situation am Markt niederschlägt und welche Start-up-Branchen am besten durch die herausfordernden Zeiten kommen werden.
I veckans sommaravsnitt intervjuas tech-räven Inge Heydorn på GP Bullhound. Det blir inledningsvis mycket erfarenheter från Inges år inom tech-sektorn, för att övergå till hur Inge ser på marknaden just nu och framtidsutsikter för de stora tech-bolagen. Det blir även ett par intressanta case från fonden! Tack RoboMarkets! https://gorobo.pro/2aue Ha koll på vår hemsida! www.fillorkill.se
Heute u.a. mit folgenden Nachrichten: - 468 Capital legt zweiten Fonds auf - 1Komma5 Grad übernimmt schwedischen Solarausrüster - Solarisbank schließt Contis-Übernahme ab - GP Bullhound kündigt Spac für Tech-Startups an - WeTransfer sagt IPO ab - Kryptowährung Diem offiziell beerdigt - Mitarbeiter verlassen better.com nach CEO-Rückkehr - Metas 3D-Avatare ab sofort auf Instagram und Whatsapp verfügbar - Snapchat veranstaltet virtuelles Konzert mit Jennifer Lopez - Künstlergruppe will Mäusen Bitcoin einpflanzen Heute begrüßen wir im Rahmen der Reihe “Investments & Exits” Jasper Masemann, Partner bei HV Capital.
"Gibt es keine Pleiten, sind die Investoren zu vorsichtig" - Interview #37 - Julian Riedlbauer (GP Bullhound) In unserem Interview-Podcast ist diesmal Julian Riedlbauer, Leiter der deutschen Niederlassung von GP Bullhound, zu Gast. Das Unternehmen berät unter anderem digitale Unternehmen bei Wachstumsfinanzierungen und Exits. Zudem investiert GP Bullhound über einen separaten Fonds auch in aufstrebende Startups. Im Gespräch mit Alexander Hüsing, Chefredakteur von deutsche-startups.de, geht es unter anderem um die globale Hochphase in der Gründerszene, das starke Ökosystem in Berlin, den Riesenabstand zu den USA, hohe Bewertungen, Immobilienpreise und gesunde Pleiten. Unser Sponsor Die heutige Ausgabe wird präsentiert vom Berliner FinTech Moss. Moss ist eine digitale Plattform, mit der Unternehmen alle Ausgaben an einem Ort managen können. Moss wurde speziell für Startups entwickelt und bietet einfachen Zugang zu starken Kreditkarten, damit eure Investitionen nicht warten müssen. Typische Ausgaben wie Online-Marketing auf Facebook oder Google finanziert ihr mit Moss bequem vor. Dank hoher Kartenlimits bis zu einer halben Million und Zahlungszielen von bis zu 60 Tagen. So müsst ihr euch keine Gedanken um Liquidität machen. Mit Moss macht ihr die Ausgaben zur Teamsache: Ihr erstellt beliebig viele (physische und virtuelle) Kreditkarten für Mitarbeiter:innen und behaltet die volle Kontrolle. Budgets lassen sich in Echtzeit verfolgen und steuern. Eure Buchhaltung wird mit Moss zum Selbstläufer: Alle Belege werden digital erfasst und automatisch vorkontiert. Über die DATEV-Schnittstelle lassen sich alle Buchhaltungsdaten direkt an den Steuerberater exportieren. So ist der Monatsabschluss in Minuten erledigt. Volle Übersicht, volle Kontrolle und eine skalierbare Lösung. Überzeugt euch selbst und nutzt Moss zwei Monate kostenlos mit dem Gutscheincode: DS. Mehr Informationen findet ihr auf https://www.getmoss.com/ds?utm_source=podcast&utm_medium=organic&utm_campaign=ds Vor dem Mikro Alexander Hüsing, deutsche-startups.de - www.linkedin.com/in/alexander-huesing/ & www.twitter.com/azrael74 Hintergrund Der deutsche-startups.de-Podcast besteht aus den Formaten #Insider, #News, #StartupRadar und #Interview. Mehr unter: www.deutsche-startups.de/tag/Podcast/ Anregungen bitte an podcast@deutsche-startups.de. Unseren anonymen Briefkasten findet ihr hier: www.deutsche-startups.de/stille-post/
Our guest today is Eric Crowley, a tech investment banker with GP Bullhound. With investments in companies ranging from Spotify to Whoop, and clients such as AllTrails, Pinkbike, and Lingoda, GP Bullhound provides transaction advice and capital to many of the leaders in the Consumer Subscription Software space.On the podcast we talk with Eric about his 2021 report on Consumer Subscription Software, the truth about LTV calculations, and the new era of organic user acquisition.In this episode, you'll learn: Was 2020 just a “COVID Bump,” or a shift in consumer behavior? Are the Bumble & Duolingo IPO multiples justified? How savvy developers are adapting to Apple's App Tracking Transparency The truth about LTV The new era of customer acquisition Links & Resources Spotify Whoop AllTrails Pinkbike Lingoda Bumble Duolingo Instacart Match Group Netflix Noom Weight Watchers Tinder The Dyrt Day One Journal Automattic Tech Crunch Scribd Pandora Eric Crowley's Links Follow Eric on Twitter GP Bullhound GP Bullhound insights Eric's LinkedIn GP Bullhound 2021 CSS survey Follow us on Twitter: David Barnard Jacob Eiting RevenueCat Sub Club Episode Transcript00:00:00 David:Hello, I'm your host. David Bernard. And with me, as always, RevenueCat CEO, Jacob Eiting. Our guest today is Eric Crowley, a tech investment banker with GP Bullhound. With investments in companies ranging from Spotify to Whoop, and clients such as AllTrails Pinkbike, and Lingoda, GP Bullhound provides transaction advice and capital to many of the leaders in consumer subscription software.On the podcast, we talk with Eric about his 2021 report on consumer subscription software, the truth about LTV calculations, and the new era of organic user acquisition.Hey, Eric, welcome to the podcast.00:00:56 Eric:Hey, David, Jacob. Thanks for having me back. It's always a pleasure. 00:00:59 David:Yeah. Every year you release this report, so we had to get you back. This is the third annual Consumer Subscription Software Report, and I wanted to kick off just asking you a little bit about the motivation, and where your headspace is in thinking about creating this. Who the target is, and what kind of questions you're asking yourself as you prepare this report.00:01:24 Eric:Yeah. The report is the GP Bullhound Consumer Subscription Software Report. I call it CSS, which is kind of a playoff SaaS. This is the third year I've been writing it, and it started back in 2018. I worked with a company called AllTrails that was starting to monetize really well by selling subscriptions.It was like a light bulb went off in my head. I was like, this is a phenomenal way to provide a consistently improving product to consumers, where the margins are pretty good. It's easy to access a ton of different people globally through the app stores or through the web, and I just got really excited about it.I started putting some notes down on my own, and then GP Bullhound really supported me in saying like, “Hey, this is actually a pretty big trend. There's gonna be some amazing companies built around this space,” and companies like RevenueCat, that are supporting CSS companies, are just as exciting.So, we've been slowly educating ourselves. The goal behind the report is really just to force me to do some thinking about the space. What it looks like. What it will be. As a banker, you can quickly focus on transaction, transaction, transaction, and not really do any long-term thinking about where the world's going.It's putting myself in your guys's shoes. You guys are building RevenueCat not for what the world looks like today, but for what the world looks like in three to five years. I try to take the same approach with CSS, and think about where's the world going to go. So I talked to a lot of smart people as I put the report together. Entrepreneurs, investors, get their opinions.You guys can see their interviews in the report, and then ultimately we publish it. The audience I like to think about is entrepreneurs, people that are thinking about starting a CSS company, or already launched one, and they're looking to improve their metrics, or think about their target audience as entrepreneur-rich.By partnering with them, investing in their businesses, it takes them to the next level. The other way I like to think about it, it's my own personal scoreboard. I love to flip back two years ago and see, was I right about this company? You're publishing in public, so people can always come back to you and say, “Man, you were way off.” So, I look forward to that.00:03:26 Jacob:I remember the F finding the first one, the 2018, I guess, reporter 2019, whenever the first one you put out,00:03:33 Eric:2019, I think that's how we met actually.00:03:36 Jacob:Did you reach out to me or? I think I found it, or I don't remember what it was, but00:03:39 Eric:We've had a mutual friend, Nico introduced us and said, Hey, you guys should talk about this. and then I think we just went off on a two hour tangent.00:03:47 Jacob:But yeah, I remember being, it's still, there's still not a ton of like really focused research or writing on this space. and I think that, that, you know, this will probably won't be true for very long, right. As long as it continues to grow, but like going back to like who it's for. I mean, I imagine it as some, you know, end of the day, if you're employing.Pushing into some kind of lead gen. Right. But it does provide a lot of value for, you know, even if you're not interested in a transaction or whatever, just. Some like holistic data on a space. Cause like, I, the same, I mean, Eric, you said we're, we're thinking three and five years in the future. It's like, I wish like a lot of times I'm thinking like three to six weeks in the future.Right. and so it's even useful, I think, you know, even if you're, you know, I, you know, we're, we're in a bit of an interesting place as a infrastructure provider to be at kind of a bird's eye view, but it. Founder on one of these CSS apps, you know, like it is useful for you to know, like what's the meta environment, how's it evolving, you know?And if nothing else to like connect you with other people who have experimented with things and stuff like that. So, yeah, I think it provides beyond, beyond the, the, the lead gen aspect of it. It provides a lot of value for people. So I'm glad, I'm glad you're, you're still doing it. 00:05:04 Eric:Yeah. And just for any of the listeners, it is free. So you just go to the GP, bullhorn.com website. It's all easy to download and then you can see all our past reports as well. So 00:05:12 David:Yeah, and we'll drop it in the show notes. but, yeah. And, and, and speaking of all that, you know, it, it's something we as RevenueCat want to get more into as well. I mean, just seeing how much value you've created in producing these reports, and we're kind of sitting on a, you know, Processing over a billion dollars a year in, subscription revenue.We've got a lot of interesting data that, that we, that I'm very personally excited to share that we haven't, kind of had the infrastructure to, to do yet, but are, are getting there. And, so hopefully we'll, we'll have our own kind of, state of subscriptions that dives into the data and some of the trends and stuff in a different way than, than your kind of, strategy and higher level look at things.But when one thing that has happened, in the actually. It was announced before your last report, but actually implemented since your last report. And that's the app tracking transparency and iOS 14, which didn't actually ship till iOS. What was it? 14.4 or five or something. So, so we're kind of just now starting to see the impacts of it.And, and, you know, you took a couple of slides in your report to start discussing it. And it really is kind of one of the biggest topics and top of mind for subscription app developers, because it really is a huge shift in the landscape. So I want it to. Start with talking about that. And one of the things you shared in the, in the presentation is that you feel like it's a short-term pain, that's ultimately going to lead to a long-term gain.So I'd love to hear your thinking around what that pain is, but then also what you see the long-term game being.00:07:01 Eric:Yeah, it's a, it's a, great point. And, you know, anytime apple or Google make changes to their, their, their app stores, right. It's a seismic shift throughout the industry because it's something that impacts everyone. And so everyone has to be aware of these changes and then ultimately have a plan for them.And so I think that the change you're talking about David is really the. The implementation of, removing tracking for a lot of, a lot of these businesses specifically, like. And so what the change did with IDFA, is it, it really deprecated the ability for, for marketers within some of these CSS businesses to really accurately target people, specifically using Facebook or some of these other social networks.And so what it's doing is it. It's impacting the conversion rates on, CSS, CSS, businesses, marketing to consumers. And so if you just can't find that person that just is in love with, for example, biking, if you're a Strava marketer, it just takes you a lot longer to find that specific subscribers you might have to market to 10 people now to find two subscribers versus before you can market to five people and find two subscribers.And so it just means marketing efficiencies going down. And that can mean. Growth rates. It can impact conversion rates and ultimately impact just financials of these businesses. And so it's a pretty important consideration for any, CEO marketing team on how they go out and get their, their business in front of consumers.If Facebook's no longer as efficient, they have to find other ways. And so. So my, my thought is like, this is a short-term problem, right? It's something that's going to take people two to three months to adapt and find a new way to reach consumers. But ultimately my hope is for the space is you see the long-term game, which is what I was referencing.People really focus on organic ways of acquiring customers. Right? So instead of just pumping ads through Facebook and trying to find someone who fits a profile, you spend a lot more time really narrowly targeting your demographic, your niche, and then finding ways for them to find your product organically either.You know? So like a company that I work with, we sold a company called Pinkbike and so what they do is they partner with, the trade associations for mountain. And those trails associations now act almost as the marketing partner of pink bike to let consumers know about the fact that all the trail details.Is on, is on the pink bike app or it's called trail forks. And so that's, that's a really powerful, organic customer acquisition tool that they don't have to pay for. And so you're seeing, seeing the same thing happen with, like Strava is doing this, pre.com recently partnered with the NFL. So if your team's got a last fourth quarter fuel goal and you need to get something kicked, you can go to pray.com and submit a prayer for your kicker. I wish I was joking. It's a pretty brilliant idea. So I think this is really good for the sector overall, but yeah. Happy to dive into it. It's it's a fascinating00:09:37 Jacob:We it's a callback to a sub club podcast content, but, Greg, this, the plant app, this is something that they were doing, which is like, we're partnering with, plant nurseries. Yeah. To like, get their app into people's hands. And, yeah, I don't know if it's an earned media or. Bought media, but this is more like this is earned, right?This is like building an audience. You've seen it in the maker community, actually a lot, like in the indie SaaS community, more it's a different game when it has to be consumer scale. Right? Like there's a little bit different. You have to build maybe a bit more than you would in like, oh, just blog about.Built this thing and that's enough to get Indies, but you can apply the same thing, right? It's like produce content, produce something like low investment for users to get engaged with your brand because you're not building an app unless you have some, I mean, maybe you are, but you're not going to build something with very high, like multiples.Like if you're, if you don't have something unique to offer in the first place, but put that into like a more like lightly consumable format, start to build that audience and then make that an on-ramp and yeah, I agree. Like that's, that's something you own, right? Like your brand is. your brand doesn't exist on the app store, right?Like your brand can exist outside of these, like shifting sands and regulations and whatnot, and ultimately is like, you know, going to get reflected in your asset value if that's something you care about. Right. So, 00:10:53 Eric:Yeah, that's a key thing we talk about, right. If any business that we look at that's potentially selling or, or thinking about raising capital, right? It's like, how are you finding your. And if you're, if you're one channel is Facebook, and then consequently, like doing Facebook ads or apple ads on the, on the app store, that becomes pretty challenging.And so you want it to be such a good product, right? So it involves more work upfront. And just as you're talking about Jacob, the product's gotta be better. It's gotta be more efficient. It's got to reach consumers where they are with the problem they have. it becomes a lot more viral and a lot more sticky.So I think, I think it's going to be good for the sector.00:11:26 David:You wouldn't want to name names of course, but I am curious if. Had any clients, or just talks about anybody in the space where they were very reliant on Facebook specifically, and then, and have really struggled as things have changed. You know, I've been seeing some tweets around the, the consumer packaged goods space where some of these CPG companies are really struggling.And so I'm just curious. You know, without naming names, if, if there's any kind of high level things you could share around, apps that have struggled in this new paradigm. 00:12:02 Eric:Yeah. I mean, I definitely can't name names, you know, obviously I keep everything confidential with my clients, but even non-clients, you've seen CACs go up 20, 30%. you see, like, if you think about like conversion rates from installs to subs, That's a big metric of actual intent. Did you find the right user, right?Did someone just click on it and download it? Great. But if they're not actually subscribing that wasn't a successful transaction for you. And so the way I think about this, David is it's the app stores made tracking a lot harder, so it's harder to find your right consumer. So imagine if you're a CPG company, you walk into a grocery.And instead of stuff, being laid out perfectly across the shelves at the right height for you, they just tossed everything in the middle of the store and said, find what you want. Just go pick it out. Right. You're going to have much lower conversion. You're going to have much lower purchase rates because people aren't being targeted with the stuff they want to see.And so I think now you have to find, you know, it becomes more of a specialty situation where you're walking into a store that has stuff for just outdoor gear or very healthy granola. Right. And you're going specifically to that store for that. That's probably better in the long term, for a lot of these companies, 00:13:01 Jacob:Yeah, but there's, there's a lot of, there's a lot of folks that have benefited from this ease relative ease, right. And any sort of market disruption is going to be painful. I was like, anecdotally, I mean, David, we've heard on this podcast and elsewhere people who have just like straight up pause acquisition, who are like all re scrambling because yeah.You get it tuned to this very fine knife edge. And I imagine for like consumer physical goods, like DDC stuff, it's even worse because their margins are thinner than software. Right. 00:13:28 Eric:And you've got inventory and everything. Yeah. It's a totally different. 00:13:31 Jacob:But, you know, as you do like you, the market reshuffles and the people, I can figure it out, the fastest are gonna are going to come out the best.So. 00:13:39 Eric:There's going to be a shift though. So people under this is like that seismic shift that just shows how much of your reliance is on maybe one or two channels. Right? Two, two major tech companies sitting here in San Francisco. If you're super, truly relying on those and you're doing great, fine.But if a bump happens, right, how exposed are you? And so like, this will be a benefit. Right. I think it's going to be a huge benefit for Tik TOK. Right? I think people are finding really good ways to acquire customers through tic-tac. And so that's a very interesting channel. I think it'd be really good for influencers, right?If you have people that are very passionate about a certain space and then they go out and, you know, have a very core customer base that loves what they do specifically. It's going to be pretty powerful for them to.00:14:18 David:Yeah, and I was just gonna say, anecdotally, you know, we haven't done a super deep dive in our data, but at a, at a high level, I was. Bracing for our numbers to take a big dip. Like I, I mean, Jacob and I had talked about it in the spring about, you know, how, what is going to look like for RevenueCat, you know, are some of these subscription apps just going to completely unwind and people are apparently figuring it out because you know, it keeps going up until the right. 00:14:49 Jacob:I mean the consumer, the consumer need hasn't disappeared. Right. So maybe if they just weren't driven, you know, it's not going to, it can't just disappear overnight. Right? Like if you never, if you, if you are a Coke fan who never saw Coke out again, and it's like, you're still gonna buy it. Right. Like there's, there's, there's a certain amount of demand.That's just going to find the supply. But, but yeah, no, I mean, it's hard for us to, to definitively say looking at our data and aggregators. Cause there's so much, but they're definitely. Like this summer was definitely slower than we've had in the past. Like on my, as I'm writing my investor updates of the year and each month and stuff looking at it.But yeah, it wasn't like this catastrophic, you know, macro thing. And they were talking about a lot of like, you know, probably outliers that we hear about people who were affected, you know, more than others, but overall. I, I don't think our, I don't think our prediction last year of, of a potential recession was necessarily false.Like it doesn't, it definitely doesn't feel like it's sped up the ecosystem. Right. But it doesn't necessarily feel like a depression, right. Maybe, maybe a slight recession or just the normalization. 00:15:49 David:Looking at our data in aggregate that, some folks use this to their advantage and actually, and, and accelerated because they knew it was coming and they did focus more on product and organic and other things. And so for whatever, you know, losses, there were. Other folks more than made up for that.And that's it kind of the interesting thing about working with so many, I mean, we're closing in on 10,000 apps on revenue cat. And so, you know, you kind of have a pretty broad basket where you, you know, there are going to be winners and losers, but in aggregate subscription apps are just continuing to tick along and do really well. 00:16:26 Eric:David it's like you read directly from bullets on my report. I, I, I completely agree with you.00:16:34 David:Another thing I wanted to dive into was the, the COVID bump. Cause that's, that's another thing that's kind of been on everybody's mind is simultaneous to this. I was 14 and, and this is something we've talked about again internally, with revenue cat, is it. This summer was the, everybody who was vaccinated and, and Delta hadn't kind of bumped yet.And so, you know, may, June and July, there was a big shift socially. kind of it felt like it, especially in the U S that we were coming out of the pandemic. and, and so simultaneous to the app, tracking transparency, going into effect, we had these like societal shift. And then now we're kind of back into it a little bit with the Delta surge, but just curious what your thoughts are on how much of the boosts we saw in 2020 really was dependent DEMEC and then how much of that will actually linger as kind of shifting consumer preferences and shifting consumer spend.00:17:36 Eric:Yeah. I mean, there's, there's absolutely a companies that benefited from us is called the removal of inf in in-person conversations. Right? So like Bumble and DuoLingo, two companies that both went public, right. They both benefited because their, their business model is designed around, not meeting in person for the first couple of conversations.Right. And so. There's no way to say that they didn't benefit. the way I think about it, though, in this, in the CSS space, it's very similar to like the overall e-commerce space, right? Is consumers looked around to find a solution for a problem they're having right. Instacart you couldn't, you couldn't go to the grocery store or maybe you felt less comfortable going to the grocery store.So you tried an Instacart for the first time. Maybe you were, you know, thinking about meeting someone, you know, long-term but you never, you never wanted to try online dating or you couldn't go to the bar. So you tried online dating for the first time and sorry. What the pandemic did was it really opened up people's eyes to other options from what they'd been doing for the last 20 years, 50 years, whatever it was.And so they had to find other solutions to, you know, their demands, their needs. And so I don't, I think it's absolutely a COVID bump, but I still look at it as really as an accelerant of people adopting new products and services that they would have tried in three to four years. but the pandemic kind of pushed them to try something, to move out of their comfort zone and try something new.So, you know, I absolutely think you'll see a little bit of a downshift in, in some of these companies that had a really big boom, right? Like language learning. People had nothing to do for four to five months, especially over some of the winter times. So people tried new hobby, tried language learning, you know, that'll probably go down a little bit, but overall, if you look at it from like a five-year trend, It's going to be up substantially from where it was in 20 17, 20 18, 20 19, and 2020, you know, made it look like a little bit of bump, but eventually I think those companies will continue to grow and surpass what anything they did in 2020. 00:19:21 David:Yeah, that's really interesting.00:19:22 Jacob:I'll back that up as well with the, the unreleased, Jacob looks at graphs and then gives a, gives a hand wavy descriptions of them. But we, yeah, we, we were, I was kind of bracing for it as well. And then I would say this summer was slow and like, David was. We're not sure why. I think it was, I think it was a number of factors things have since picked up again.But I think generally summers are slow for software a and then B. Yeah, I think we were seeing kind of like a little bit of the payback for, for COVID perhaps it's a, it's a vial. I think it's a plausible theory. We don't, it's really hard to prove. but we have not seen, you know, we, we saw our COVID experience was really drastic.And we have not seen. Similar, like back off from that, like, it has been like, it has been like we just compressed six months and I'm saying partially, this is just revenue casts, individual story because of where we were last year. But then I think also it's, it's indicative of the system in general.It's like, I think, yeah, we just compressed a whole bunch of, like consumer behavior change into like a very short period of time. And yeah, we're not gonna be able to keep that up. Right. We're not gonna be able to continue. To, to crunch that in, or we'll run out of consumers eventually. But, but it doesn't look like everybody's, you know, because, you know, I think the story for CSS in general, it's like we've delivered value for people, right?Like it's, it's a good, it's a good product, right? The whole line, not every product is good, but in general it's like a it's, it's a decent deal. And so I, I think more people discovering that. Yeah, it can only get bigger, right.00:20:55 Eric:Yeah, I think we talked about it in our first year, our first time together, right on the last podcast, which is if these businesses are truly making consumers' lives better, this is going to be a very long-term.00:21:04 Jacob:Yeah. 00:21:05 David:And speaking of that, and the two companies you just mentioned, in the, Time since we last spoke, but Bumble and DuoLingo went public and some other consumer subscription, apps went public. so tell me a little bit about your, your perspective on the, the public investor. Excitement for CSS.I mean, we're seeing pretty high multiples in the both of those IPS did, did very well. so what are you seeing in the, in the public investor space?00:21:33 Eric:Yeah, I think, I think the public market has really woken up to this business model, the power of it and understanding, you know, it's public markets. They do a lot of pattern matching, right? If they've seen something be super successful, they look for something that looks similar to that. And so I think a lot of people are waking up to, how powerful Salesforce is not waking up.They're well awake, very aware of SAS businesses. But I think they're seeing that same pattern starts to take, hold on, CSS. It just has different metrics. Right? And so, you know, Bumble's now public, the match group's been public for quite some time. Once I spun out of IAC, you've got Netflix and Spotify, which are fantastic examples of the international global reach of Content, and how consumers are very sticky for something they love.And so. These businesses who can get to scale really quickly, like you nuMe, right, is a competitor to weight Watchers. Weight Watchers has been around for decades, but Newman built a better mouse trap and they acquired customers at a really quick rate. And, you know, they're well over 400 million in revenue and ready for the public market.So I expect them to go public. Pretty soon. And so I think there's going to be a lot of businesses that follow them that are using this, this metric. So, and then that'll cascade all the way through, from public market investors as, as exit opportunities all the way down to, you know, series a series B investors, seeing this business model work and scale.00:22:47 Jacob:Yeah. I mean, I guess my, like, what's your, like, I, I, when, when we started seeing these go public in the last, like couple of years, so, well, I mean, honestly, it's like, Since we started RevenueCat, like was actually the, kind of the first unicorns, even like, I guess Bumble might've been passing unicorn when we got started, but like there weren't a ton and now it's like every, every month there's a funding announcement for a CSS company.That's a, that's a university. I mean, partially that's just like valuations going up and stuff like this, but like, how do you see. The evolution of this market. Long-term, you know, so DuoLingo pops becomes the first, you know, are they going to be like Salesforce and just be dominant in that space forever?Or do you see it being maybe more dynamic than sasses?00:23:31 Eric:I think it's a little more dynamic than SAS for, for a couple of reasons. One, new consumers like to try stuff, right. And so if it's with like a Salesforce or something, right. That integrates into your day to day operations from a business model perspective, right. So if something breaks there, right.Your business. 00:23:47 Jacob:Is very high. 00:23:48 Eric:Yeah, it's a little higher, right. And it's not just you using it. It's your entire business. Right? So you've got 10 people using this product or 20 people or 5,000, depending on the size of your company. Right. In CSS. It's it's you, maybe you and your family. Right? So it's a little bit of a different switching cost.So that's, that's one. However, these companies can scale a lot of. and they can, they don't have like the heavy, heavy cost and, you know, on the sales and marketing side. So I think they have an ability to actually get to profitability a lot faster, especially if they have an organic customer acquisition engine.And so I think that's going to be a big difference between that, between CSS and SAS. 00:24:23 Jacob:So, yeah, you mentioned the metrics are different. What are, what are the metrics that folks are, public investors are looking at for these companies that it might be different from a SAS company?00:24:33 Eric:Yeah. I mean, a lot of them are the same metrics, but the numbers that are like good are different, right? So like on a SAS business model, right. Revenue growth is just as attractive as a CSS business model revenue growth. Right. Everyone wants to see high double digits, triple digit numbers on revenue growth.But like an interesting thing is net revenue retention. Now that's very different, right? In CSS, you typically don't upcharge people or have additional seats be filled because it's just one person. Right. So, you know, maybe you get an. 00:24:59 Jacob:It's not much expansion opportunity. 00:25:00 Eric:Yeah, you can, you can do maybe some, some packages, upgrades, and people are starting to experiment that you can pack it and you can experiment with bump, bundling 00:25:07 Jacob:But it's certainly never going to be greater. It's never going to be net positive, right? 00:25:11 Eric:No, you're never going to see a net positive number where a lot of the SAS businesses, right.People are looking for net revenue, retention, numbers of north of one, 20, 120% net revenue retention 00:25:18 Jacob:I mean the opposite of churn, right. Which if you have a CSS business with opposite, Congratulations. like 00:25:25 Eric:Yeah. You're doing something well, and I haven't found it yet, but yeah, 00:25:28 Jacob:You might be the only one 00:25:29 Eric:Yes, I think that's right. 00:25:31 David:Quick, point though, to counterpoint to what y'all were both just saying, of all the apps, dating app, it's totally slipping my mind. 00:25:40 Jacob:Tinder. partnership. David, look at us. We're like on a wavelength. 00:25:46 David:They, they have in-app purchase. They have consumable in-app purchases to boost your, profile. They're one of the few that I've seen that could potentially actually have a. A a positive, net revenue retention. whereas most subscription apps are just a subscription. it's going to be interesting to see if other subscription apps can pull off that sort of model that you could actually generate a, a net net revenue retention. 00:26:19 Eric:I think you nailed it, David. So that's coming from. Right. I think people first experimented with, Hey, how do I get someone to buy my product every year or every month? Right. And now is how do you make it even better? So they're starting to listen to their core users. And we talk about this a little bit on the LTVs.And what do these people want and what makes this experience even better for them. And I think you nailed it with Tinder, right? It's the most, it's the easiest thing to convince people to, to encourage more is more, you know, more relationships, right? People love more relationships and people are willing to pay for that.And so, you know, then what else, what else could this go down the path of, right. What other options could people pay for additional services? Or what we've seen is like marketplaces or transactions spinning on. Right. So if you have a really passionate user base and they're going out there doing, camping, for example, like on, on the dirt, it's a camping site, right?What about doing a marketplace to buy and sell use tents right now is not a subscription, but now if someone's paying, like, okay, now they bought something through your marketplace and you get 10% of that purchase price. So there's going to be a lot of stuff. I think that happens there, to encourage that, to encourage that LTV numbers start rising, I just haven't seen a ton yet, make it happen above 00:27:26 Jacob:It's a scale problem. I need to do that either be at such scale for that to make sense. So I was going to say for anybody, listening to this, that hasn't reached 20 million in ARR, probably north of that do not add a marketplace to your 00:27:37 Eric:I totally agree with that. Very, very much focused focus, focus. And so I would even say like closer to 50 00:27:43 Jacob:Yeah. I mean, until you're like, how do we get this thing public? Or how do we show, like, how do we show like N plus one revenue streams, right? Like it's kinda more what it's about than it is necessarily the revenue generated. 00:27:53 Eric:I'm just a dreamer though. You're just a realist. I'm here, I'm here. And you're just telling me all that stuff that could go wrong. 00:27:58 David:One of the things you just kinda touched on that I wanted to dive deeper into was, was a truth about LTVs. And I love this slide on the, on your presentation, kind of defining these two cohorts, which I've never heard, defined this way. And I really loved the analogy and I'm going to start sort of stealing it from you and use.And crediting you of course. but in the presentation you define, tourists and locals, and then talk about kind of the importance of identifying these different cohorts. So tell me about Who the locals are and why that matters and who the tourists are and how companies can start, analyzing their data to understand this and better target marketing, better, craft the experience in the app and, and those sorts of things. 00:28:46 Eric:Yeah. So we're going to geek out here guys, and, really go deep into STSS. Right? So this is where, this is where my brain goes sometimes on a Saturday night, which is just exciting. but so the way I've been thinking about CSS a lot, and so the LTV component of CSS, which is lifetime value, Which I'm sure all your listeners are very, very well aware of is kind of like how much money can you make from this consumer over time.Right. And it's a function of your pricing and it's an, a function of your turn rate. And so, a lot of people are very focused on this metric as investors or buyers, right? Because it's effectively, how valuable is your customer? So it's an extremely important metric. The problem with this metric and lots of other metrics is it's, it's derived from an app.Right. It's looking at all your users that come into your, in your ecosystem is paying customers. And then how do they perform over time? and it's, it's driven, it's driven off an average of all your users. And so when I've gone through some of my client's data and you look at their user base, right, we, we quickly discovered there's a, there's kind of two different profiles.And I won't use any names here, but let's just, let's just say it's, a walking company, right? So you're, you've got people that go out and they, they sign up, you have a hundred people that. And 20 of them start walking every day and they're, and they, this is what they love and they're tracking, they're walking and you've got another 40 that do it for like a month or two.And then they kind of drop off and then just like, I'm going to go do biking or skateboarding or something. And I switch and you've got another people that sign up. They subscribed to it because their friend pressured him into it and they hate walking and they're never going to walk again and they turn off immediately.Right. So you kind of have those three different groups, some that are just going to do whatever. Some that do it for two to three months and then leave. And then some that do it the first month. And then say, forget this. I'm never going to use this again. And so the problem is your LTV of each one of those three groups are very, very different.And so what, we've, what we've been guiding investors and entrepreneurs, as they think about their growing their businesses, really find out who those locals are, who those people that are going to come and use your app every day, every week, every summer, whatever, whatever the metric is that you're looking.And find ways to measure that, right? Because ultimately that's who you need to bring to your community. And one, those people make the community run more robust, right? Cause they're constantly contributing feedback into the. To, they're much more likely to stay around with you guys. And so you need to find those tools that they're looking for.Right? Like seeing around the corner and saying like, okay, this person loves walking. What else can I provide them? What about a weather forecast? So now that they are about to go out and walking, you know, what does the weather look like? And, oh my God, this is now, this is my one-stop stop for, for walking.And so I think w we've been guidinGP Bullhound's like if you use the averages as a broad metric and that's great, and you should, because investors are going to want to know that, but, but really dig deep into your, your cohort and understand like who's using this every day, all day and what do they need. And so if you can really identify that and show that LTV to, to invest in.I think you can get people a lot more excited than just like that average LTV, right? Cause this shows them potential of what it can be over three to five years, which is really important if you're two or three year old company. Right. And try to convince someone to invest in you showing them that lifetime value of the tour or the locals is going to be a lot more valuable than that average.00:31:46 Jacob:I mean, if you think about just as the, you know, I think it's one of the, you highlighted one of the hard parts of assessing these businesses early on, is that yeah. Your cohort, your total subscriber base is very heavily biased on like your most recent cohort, because often you're also growing, right?Like that's often, like your most recent cohort might be the size of your first five, you know? just because, and for that reason you can really have scurry looking data. but you know, if you think five years from now, mostly. Those other two groups you mentioned there they'll have turned out from most cohorts.Right? And then the only ones remaining for four years of cohorts will be these locals and these long-term retention. And then your total subscriber base is gonna look very different than it does today. Right. And yeah, I'll admit revenue. I've tried to solve this problem in the product. And we still are trying to solve this problem in the product.It's how do we like show people? Cause you're, you're dealing with a mixed population, right? And like you, you can also also run into a problem with begging the COO or like doing very, like, look, you got to invest in and say like, look, look how great my retention is. If I just ignore them. Bad users. Right?Like, let me just look at the good ones. Right. But there is something there in that. What you're talking about, Eric, that long, that very long-term view is that if these users really do retain for a long time, eventually they will be the lion's share of. Subscriber base. And that churn that we talk about, like, you know, if you're adding 1% of your total user base, the most you can experience off of that as like 1% of churn, right.Versus when you're adding half, you know, if you have 110,000 subscribers and you add 10,000 in a month, that's going to be a huge effect to your overall subscription subscription base. Right. so yeah, I think, I think, you know, we certainly have a lot to build on the tooling side. Right. And I think it goes to what you're talking about.Air. We're very early. Like, I think we've just kind of solved infrastructure, like infrastructure. I mean, I would even say kind of, cause there's a lot for us that we need to do yet. but as far as like data science and actually yeah. Being able to outside of a spreadsheet, understand this stuff. It's it's, it's not trivial.It's not trivial. All 00:33:51 Eric:It's extremely hard. And I think like, cause there's so much more you could do once you've broken those two cohorts into tourists and locals, right? Like how do you acquire the locals versus how do you acquire the tourists? Are tourists coming through like Facebook, apple store and the locals are coming from referrals.Okay. So maybe your Facebook spend, is that even worth doing the spending on right. If they're, if they're turning off after a month or two, you know, subscribers is a vanity metric, right. If they don't. All right. You can grow. We talked about this in our 2020 report. We have like this cheetah versus thoroughbred.Right. And it's really easy to show a ton of growth. And you've got all these subscribers and everything is fantastic. Right. But if those subscribers get tired and they turn off right away, you kind of probably wasted money on them. Right. Maybe you got paid back in a month, right. So you didn't lose like on the CAC spend right in here, but you're not building your business.Right. You're just gonna you're pinching pennies. 00:34:36 Jacob:But not a lot of work. Right? Like it's not actually getting translated into business 00:34:39 Eric:Exactly. So is it better to kind of focus on the product, right? Figure out what those, those, tourists are using and spend less time on the marketing side and really nailed the products like, Hey, you'll probably grow slower, right? And That's an issue. That's a risk you have to take, but maybe you can grow more efficiently, more capital efficiency.00:34:55 Jacob:Capital's free now, so that's not a 00:34:58 Eric:That's a fair point of half my fault, I'll take full responsibility for some of that. Right. 00:35:03 Jacob:I think it's interesting how this like feeds into, you know, kind of going back to targeting and ad targeting how often. Optimized Facebook campaigns on like trial conversion. And that doesn't even that doesn't, that's all your tourists and your locals. I mean, maybe some of those that never even start a trial would be cause, but there's a lot of tourists in that group that started trial right.Or convert a trial. And a lot of people are targeting off of that. Right. And so as these methods become less. Good. it will force it'll force developers to yeah. Maybe do one of these scary things actually talk to users, right? Like actually like find those locals, like go in your analytics. And I think just the thing as you were talking about, I just want to point out that, like, I don't think you necessarily need to define this off of monetization retention either could just be retention, like pure usage retention, but it could also be engagement.Yeah. I think about the way Facebook, Oriented their growth teams very early on, which was like findinGP Bullhound that connected, like that was a really key step for them in their product, was to get people to make like three or four. I forget there's some number of friends and they oriented all of their growth efforts around that.Find the thing that people do in your. Shows that they're engaged and give them opportunities to show that. And then, you know, you can use that as an indicator. Okay. Talk to those folks and actually talk to them, right? Like find out, always put something in your app that lets you reach out to them in some way.And like, have you can get on a zoom call. I've done. It's easier now in SaaS land because like, I, I, I, people I'm an app. People like I know how to talk to them, but when we were, when I was working in consumer. Phone calls were more awkward, right? It was different. You're not going to books like outside of computer land, but still like just incredibly valuable.And, and, and, and I think like, you know, if we want to talk about the way to build the way to fully realize how CSS is going to, I'm just going to go all in on your turmeric, by the way, I said, I'm going to, 00:36:57 Eric:That.00:36:57 Jacob:I'm going to push it. We're going to standardize. But 00:36:59 Eric:It's not trademark, but knock it out. 00:37:01 Jacob:All right. So to fully like, to fully realize the potential to like help problems for people.Like, I think we need to lean into this more of this model. Right. Rather than I've always kind of like had an uncomfortable relationship with how our RevenueCat fits into the like hyper fast monetization stuff. Right. I'm like, get users, check your CAC, put more money into Facebook. Right. And so, the more the industry gets away from that. The happier I am. I don't know. Like you said, maybe it doesn't go quite as fast, but I think the overall Tam will be larger. Right? If we take that approach,00:37:33 Eric:Think that's right. And, you know, I mean, I've talked to a bunch of founders that haven't raised capital. Right. And they build something that like their users love. Right. Like, so I don't know if you guys saw the deal with day one that got bought by automatic braised almost as your outside capital.Right. He built. 00:37:46 Jacob:Big fans that they won. 00:37:47 Eric:Yeah. Yeah. I was a big,I got it's an awesome business and he did that exact same thing. Right. He just listened to his users. He didn't care about vanity metrics grew really nicely. Right. And it wasn't like, you know, he's not getting tech crunch publishing, but that's fine. Right. You know, on an amazing business.And then, you know, I've got a fantastic exit out of it. So I think, I think people are really waking up to that's a very much a possibility here in the.00:38:08 David:Yeah, one thing I wanted to highlight too, in that graph that you made, and for people that are listening to this, you can go to the show notes. We'll have links to the, Eric's presentation and you can find this chart, but to visualize it00:38:25 Jacob:Page 18. it open right here. 00:38:27 David:Following along at home, the, line for the locals drops.So, you know, even, even for locals, you're going to have some turn early on, but then it essentially flat lines. and I'm sure you did that very purposely to kind of illustrate how. How long term some of these, these, this retention can end up being, and it's something we've actually been talking on the podcast about recently is that we're so early in the space.We don't even really know what, how to measure LTV. Cause you're going to have people who ended up subscribing for decades. and years and years and years, if not decades. And so, and, and then, you know, to your point about the cheetah versus thoroughbred, another great chart in the patient number, Jacob Page number00:39:16 Jacob:I 00:39:17 David:Cheetah versus thoroughbred but in that tuna versus thoroughbred, The other aspect to locals, and we're kind of touched on it earlier is that those cohorts start to stack. So when you identify this cohort, that is going to be a very long-term cohort. That's going to stay subscribed and have very low churn. You, you acquire a hundred thousand this year, and then they're still there next year.And you put a hundred thousand on top of that. And those are still there next year. And by year three, you know, you just continue to grow this pie of people who are very, very sticky in the product. And I think that's part of what. you know, what you're talking about with delinquent and Bumble and other companies is like, we're still just starting to understand even as different as this is from SaaS.We're starting to see similar dynamics as far as. Early on the churn is so high, but then you do have this really strong stickiness over the long-term that, that, that can build a really healthy business of people who really love your, your product and really are invested in it and are going to stay for a really long time.So yeah, I just wanted to point that out that, that I, I love that aspect of the chart of how flat that line is for the locals. 00:40:35 Eric:I mean, you, you can see it in your own spending patterns, right? Like how many of you guys have subscribed to Netflix or Spotify for more than five years? I bet it's a good chunk of your listeners. Right? So, I mean, if I look at my phone, right, I'm going to subscribe to all trails for the next decade, 00:40:47 Jacob:Yeah, I've got CSS. I I've started subscribing to in 20 13, 14, like as 00:40:52 Eric:Yeah. 00:40:52 Jacob:It was a thing, 00:40:53 Eric:I've, been a script user for four years and I still download audio books or download other books from like the San Francisco library. Cause I'm probably the cheapest banker of all time. but you know, I still use script 00:41:04 Jacob:It's finding margin, Eric you're finding margin. That's what that is. 00:41:07 Eric:Exactly. I've pinched counties all day.But yeah, so I mean, I, I think those tails David to your point are still being written. And so that's the whole point, right? If you use average LTV and you say, all right, well, we have 30% churn that math means you lose every user in three years, and that's just not how it works. And if with really good businesses that are delivering value, right?And so then once you convince people of that, right, the investment case becomes a very different company.00:41:30 David:And speaking of that, you, you had a great, slide on investor benchmarks. And so I wanted to get to that real quick, tell me about how you, how you thought. These different metrics. And what, and how investors think about these metrics? Because you know, we're talking about LTV and in there you have LTV to CAC of you, you know, for a really strong app, that investor would be super excited about.You're closest to. Six X versus less than three X, you start to cool off. So, yeah. Walk us through each of these metrics and kind of how you think about it, how you think investors think about it, And even how that's kind of maturing as we understand the space better. 00:42:10 Eric:Yeah. And just to note like these metrics are all different for different types of businesses, right? If you've been around for a year, these metrics are very different versus if you've been around for 10 years, right. If you're in high growth, you know, venture back, spending a lot of money, these metrics look very different than if you're a bootstrap business, you know, just trying to inch out.You know, 10% growth a year. Right. So they can be very different. And the important thing is how does the story of your business and what you're trying to accomplish tie to these metrics? Right. So that's what we spent a lot of time talking to founders about is, is what's good based on what you're trying to do.Right. So it's just how you, how do you tell your story through the metrics? but yeah, so a couple of your points on the S on the slide, we talk about like user growth rates, gross margins, LTV to CAC, churn rates, free to paid conversion rate, and then sales efficiency. and then, you know, just to talk about something different, we, we talked about LTV a little bit earlier, but maybe talking about, churn, right.And so like how quickly do people churn off? Right. And so that's, there's a couple different ways to interpret churn, right? It's one, they didn't find your product. Too. They thought it was really expensive. or if they're not turning, they really love something you've put together. Right. And they decided to pay you multiple times for that either monthly or annual.And so what we just try to do is try to tell the story of where the business is at and where it's going by looking at these metrics. And so, you know, that's why it's so important to truly understand these metrics, because if you don't understand the metrics, it's hard to tie that to the story. so we spent a lot of time with any client or even non-clients just talking about this stuff to truly understand, you know, what investors care about.And it's, you know, if someone's buying the business, they may care a very good. They may care about very different metrics for someone who's investing your business for growth, right? So someone's going to put 40%, $40 million on your balance sheet to go grow. They may be focused less on LTV to CAC now because your LTV is not formally formed, right.They don't know how good it is, but they will focus very heavily on churn, which is a reflection of how good your product is and how good you're finding consumers that love your product. Right. So those, those are metrics that they may focus. They made me more comfortable spending a lot of money in the next two years.Right. So your CACs going to look a lot worse because they watched, you acquire a lot of users to make the platform a lot better. Right. And a lot of CSS businesses, right. UGC is a, is a, is a spinoff of user activity on the post. Beautiful uploading photos reviews. They're adding new new items on, on the platform for other users to use.And so it's worth spending more money to get those people in the first two to three years because your platform becomes that much better and that much more valuable, right? So you may be willing to burn down to a, an LTV to CAC of three X or something like that in the near term, or sometimes even two extra one X, because it's a land grab for those.Once you're on their platform right now. You want to see that LTV to CAC, start to move up a little bit, right? So you start to put it to four or five, six X, LTV to CAC. So it's all about where your business is. It's each different stage, but it's important to have a story and a message around why your numbers are, what they are.00:45:03 Jacob:Of the, I have the slides up in third slide, 37 for anybody who's following along at home. all of these as a veteran SAS CSS person, every annual user growth rate, gross margin to be cash I'll clear me, sales efficiency ratio. Can you talk about that one? Cause that one's, that one's, not as a little foreign to me. 00:45:22 Eric:Yeah. It's, it's a, it's more of a metric that's come out of SAS just to be honest. So it's thinking about like, it involves like how, how many users are you gaining? It's how much revenue you're gaining versus how much money are you putting out there? So it's a little bit of a different metric. and most CSS businesses don't get to that yet because they typically don't have heavy sales team.And so we've included it because you're starting to see some of these CSS businesses really start to grow. And so how much revenue gaining versus how much revenue you're losing and how much is it costing you to do that? And so that's when you're starting to get into like the tens to $20 million of, of, marketing spend a year, it's, it's, important to understand like how efficient is that spend being, and this is the best metric 00:46:00 Jacob:We, it says called sales, but you actually throw in marketing, spend in there as well. So it's like all go to market spend 00:46:07 Eric:Yeah. Are using head count, not just like the ad dollars. right. 00:46:10 Jacob:Right. 00:46:11 Eric:It's like a fully loaded CAC number, like 00:46:13 Jacob:Your, all of your people telling Facebook what to do, 00:46:17 Eric:Yep, exactly. Exactly. 00:46:18 Jacob:Content graders, like all that stuff, right? Yeah. 00:46:20 Eric:If you've got a hundred people running around campus, right. Promoting your app. Right. Okay. How much those people cost. Right. So it's an important way to think about how much you grow. And it's a way to think about like how well can you grow a capitally efficient capital with limited amounts of capital.So it's an important one. We look at it, it's typically a later stage, right? So you've gotta be like north of 20 million of 00:46:40 Jacob:So he's going to be super high when you're small, right? Because you're, you're your. 00:46:43 Eric:Sir. Request important. 00:46:44 Jacob:People are discreet. Right. And that you can't, you're not continuous. So, and also your, your, your revenue just grows less because of like, you know, you're smaller, you're less, well-known like, you're less is momentum is things like this. 00:46:56 David:Well, we're starting to run low on time, but there's so much more I want to talk to you about, but just to hit one last thing. I also love this chart you did, of Pandora versus Spotify. It's such a. And encapsulation, really everything that we've been talking about on this podcast is to see how well Spotify revenue has compounded over the past few years versus a Pandora, which, which look was the juggernaut.You know, when, when, when Spotify started. so, so walk us through this chart. And in how and why you think, you know, Spotify was able to, to grow the way they did while Pandora really struggled. And obviously there's a ton of, you know, other business factors and execution and other things. But, but I think overall, this does speak to the power of CSS.00:47:54 Eric:Yeah. And this is, this is something we did back in 2020 when we were just trying to decide like, Hey, what's is this CSS thing real? And, and a big question you get from, from investors. And listen, I think a lot of them have stopped asking this question because the case studies are out there is why would someone pay monthly or annually for something they can get for free?And by get for free, it means listening to, or watch. Right. And so I wanted to see like, alright, graphically or like actually numbers to will people, more companies make more money by making that really hard decision and say, pay me for what I'm giving you first. I'll give you something for free and exchange every half hour, you watch two minutes of ads, right?That's a really hard question to say, because it involves you putting a lot of value in your product. And so entrepreneurs, you know, product developers have to. Is this worth money or am I giving something out to people that, Hey, they'll kind of use it if they get it for free. Right? So it's a, it's a gut check for people to say, like, did I build something that someone will buy?That's hard. That's really challenging. Ask yourself, especially if you've started with advertising. and Spotify, you know, listen, they were a small company based in the Nordics, right. Versus Pandora US-based juggernaut and, and raised a lot of money. Right. That's a tough challenge. And so they took a really tough thing and said like, Hey, we're going to get.And make people pay for our product and we're going to make it better. But the crazy thing that happens though, right, is you make so much more on a user from subscriptions than you do from average. Right on advertising. You're trying to pick up pennies per subscription on some or pennies per user on the subscriber.You're making 10, 20 bucks a month, depending maybe maybe $60 a year for a subscriber. So the amount of users you have compounds so quickly, and then if you have that heavy retention, all of a sudden, you've got these really thick layers of cashflow that come in every year, use that cashflow. You invest it back in.He invested back in product and you do it again and again and again, and all of a sudden you've got a better product. And if you have a better product, people will come to it. And if it's something that they're using daily, right. Why would you not be comfortable like paying five bucks? Right. If I think about like how much my Netflix subscription is, right.It's $11 a month or something like that. Right. Well, I probably watch 10 hours of Netflix a month, right? So I'm paying a dollar an hour to be entertained. Pretty good deal. And so, like, I think if people, people start doing that math and you start to see like how powerful that that subscription is for user versus an ad driven, it becomes pretty interesting.And so I think you've seen this case study play out over and over and over across CSS, where if you build a good enough product, you know, a 10 X product versus the free option, people will pay for it. 00:50:24 David:And Spotify does double dip as well, which is interesting is that they have a good enough free tier and people can listen for free. But they choose to spend, even though they can. And so, so Spotify is a great example of, of double-dipping with a great freemium tier, but then a good enough product in a compelling enough reason that people will pay.00:50:47 Jacob:Yeah, another dimension. I don't know the specifics of Pandora and Spotify. It's like fundraising history, but if you have like the subscriber. Subscription revenue momentum makes capital more easy to access. And you look at some of this. I think of some of the strategic stuff that Spotify has done. Like they got the Beatles on Spotify pretty early on and lets up, they spent big on partnerships and Content and stuff.And if you have momentum, if you have hard dollars, it's a lot easier to go to an investor and be like, Hey, like I want to raise X million dollar. Revenue growth. I have, like, this is very clearly a business. I can remember raising money in the pre revenue is everything era or like trying to raise money.And it was like a lot harder. Right. Cause it was just like hand waves and we're going to grow and like, and now it's like, yeah, for better or worse, you go over the curtain and you show something. Right. But the big benefit too, I think for founders, it's not just for investor, for founders. It's like, yeah, you build a great business.You're building a safety net, right? Like if you can't fundraise, it's not the end of the world. Like you have options. And I think that's part of the reason why also, I mean, now we're getting into fundraising like macro, but that's part of the reason the funding environment is crazy because businesses are sturdier than they've ever been.Like they need capital less than they've ever needed it. Right. And so like, that's why it's gotten cheaper. or, you know, evaluation's gotten higher same thing. Right. So, Anyway. Yeah. And this is a fascinating to put this. I already was not on here, which was my horse. And I was like really pulling for them.And then it gets to a whole different story of why that's not on there. But, but yeah, it's fascinating.00:52:11 David:Well, I think that's a really fun place to end the story of Spotify, one of the biggest juggernauts in the space. We're going to include in the show notes a link to the report, a link to your LinkedIn and Twitter to follow along.Anything else you want to share as we wrap up? 00:52:27 Eric:No guys. Always a pleasure to join you. One thing for your audience users, we are trying to make the GP Bullhound CSS report a resource for founders. This year, for the first time ever, we did include a link to a survey.So, if you want to contribute your data, what we'll do is aggregate everything, anonymize it, and then we'll provide back a summary to users to say, “Hey, here's your LTV to CAC. How does this compare to other founders at this stage?” We are trying to be a resource. I'll probably give you guys that link, if you don't mind. We'd love to have as many people as possible. No pressure.Of course, all of it would be anonymized. This isn't a marketing tactic for us. It's us giving back to the community. We'd love people to take a second to do the survey, but if not, don't hesitate to email me, tweet at me, hit me on LinkedIn with questions, comments, and specifically stuff We got wrong. Absolutely love to hear where we can learn.00:53:22 Jacob:Yeah. 00:53:23 Eric:Because we're not building, we're just talking about what you guys are doing.00:53:26 Jacob:By the time you print this thing, it's like, stuff's changed, right? Like it's changing so fast.00:53:32 Eric:The whole Apple thing when we were publishing was happening everyday. And I was like, this is unbelievable.00:53:36 Jacob:And wait to...00:53:36 Eric:Since July, and I have to change every minute. Yeah. I had to change a PowerPoint. You guys had to change code. So I think one was a lot harder.00:53:44 David:Well, it was great having you on, Eric, and we'll have to make this an annual thing.00:53:49 Eric:Sounds good.You're welcome.00:53:51 Jacob:Yeah, we'll see you next year. 00:53:52 David:See you in 2022.00:53:54 Eric:All right. Thanks David. Thanks Jacob.
Avsnitt 140 gästas av en riktig tungviktare, nämligen Inge Heydorn, techförvaltare på GP Bullhound. Med sina långa erfarenhet och sin djupa kunskap i sektorn delar Inge generöst med sig av sina åsikter, kunskap och favoritcae. Förutom samtalet med Inge kör Erik och Jonas en sedvanlig market update. Tack för att du lyssnar! Signa upp på IGs veckorapport: https://bit.ly/3qq80M1 Artikel om EPS-tillväxt: https://on.mktw.net/3aC2TBV
En av de mest ansedda teknikinvesterarna och tillika rådgivarna gästar idag podden. GP Bullhound har en årlig CAGR om 33% och i avsnittet gästar deras partner Joakim Dal för att hjälpa oss reda ut hur man skall värdera och analysera sig genom techträsket. Avsnittet kommer att göra ett återbesök till Facebook $FB och Joakim ger sin syn på bolaget. Vidare nämns bolag som: Unity $U, Twitter $TWTR, Match $MTCH & Naked Wines $WINE. Vi välkomnar alla former av inspel till: nantingomaktier@gmail.com Instagram: www.instagram.com/nantingomaktier/Support this show http://supporter.acast.com/nantingomaktier. Hosted on Acast. See acast.com/privacy for more information.
Avsnitt 404 till ära handlar om de gigantiska techbolagen och finns det något som kan bryta deras framtid? Storbolag som Microsoft, Facebook, Google och Apple dominerar i storlek och samtidigt växer kraftigt. Johan Roslund är förvaltare på GP Bullhound med just fokus på teknologiaktier globlat. Vi pratar FAANG:s framtid och varför han gillar cloud-bolagen. Halvledarindustrin och hur Johan positionerar sig. Tencent och gaming. Digitalisering av avtal. Detta och mycket mer, lyssna in!
Interview de Guillaume Bonneton, Partner France chez GP Bullhound.
In this episode, Anthony talks with Felix Marquardt, author and columnist to discuss the genesis behind his latest book ‘The New Nomads: How the Migration Revolution is Making the World a Better Place' which looks at why our view of migration needs to be re-evaluated. Anthony is joined by No.1 New York Times bestselling author Daniel Silva, to discuss his new thriller ‘The Cellist' which features legendary spy Gabriel Allon, and explores the preeminent threats facing the West today - “the corrupting influence of dirty money wielded by a revanchist and reckless Russia.” Finally, Hugh Campbell is co-founder and managing partner of tech advisory and investment firm GP Bullhound, and joins Anthony to reminisce on his time at Goldman Sachs - and why great businesses are built in adversity. Follow our guests on Twitter:https://twitter.com/Feleaks https://twitter.com/danielsilvabook https://twitter.com/hugh_gpb Follow us:https://twitter.com/moochfm https://twitter.com/scaramucci Sign up for our newsletter at:www.mooch.fm Created & produced by Podcast Partners:www.podcastpartners.com
I dagens avsnitt: Johan Roslund från GP Bullhound gör comeback i Fill or Kill. Ett samtal om techbolag, SaaS, gaming (Nintendo, Tencent, Epic Games, Roblox m.fl), IPOs, SPACs, Naspers, trender och mycket mer! Johan ger sin syn på marknaden, långsiktiga trender inom tech och delar med sig av flera intressanta case och innehav. Tack Bookbeat! Ha koll på vår hemsida! www.fillorkill.se
Episode #34 Taking a deep dive on SPACs with Adam Birnbaum, Executive Director at GP Bullhound, understanding how SPACs work, what are the moving parts and processes, taking a look at the different players from sponsors, IPO investors PIPE investors, target companies overall process and how some of these are changing. SPACs vs IPOs. What characteristics must a target company have for a SPAC to be an option, enterprise value, multiples on revenues or EBITDA. Timelines, costs, lockups and other details about how this works. After-market performance of these IPOs and completed transactions. Who are the players on the side of sponsors, IPO investors and PIPE investors? Overall what this means to startups and VCs from early-stage to growth investors and what we expect to happen in the future.
The Esports industry has exploded in recent years and is not slowing down, but the industry remains extremely top-heavy and built around sponsorship and advertising revenue, rather than consumer revenue and participation. Challengermode is looking to turn the current industry model on its head - creating value for all esports stakeholders from the bottom up as well as the top down. After major success in Europe, running millions of competitions for millions of players, Challengermode is currently gearing up to expand into North America this year, and is currently valued at over $40m. I invited: Robel Efrem from Challengermode onto the podcast to find out more. Robel himself, has an incredibly impressive resume; he speaks four languages, has been nominated for the Young Entrepreneur of the Year award three times, and has founded two companies in the last 10 years - the first which resulted in a successful exit and the second which is Challengermode, which received a $12m investment from Alibaba, with other investors including Telia Ventures, GP Bullhound, Back in Black Capital and Swedish soccer player Zlatan Ibrahimovic.
Interview de Guillaume Bonneton, Partner France chez GP Bullhound.
Hugh Campbell is managing partner and co-founder of GP Bullhound. Founded in 2001, and with ten offices across Europe, the US and Asia, the technology advisory and investment firm specialises in software, fintech, digital services. Spending his career in finance, he began by working on mergers and acquisitions at Citibank, before moving across to Goldman Sachs as part of their equity research team. In this in-depth conversation, Hugh reflects on the reality of working in investment banking today, including what happens behind-the-scenes; describes the ongoing challenges posed by the pandemic and lockdown, whilst noticing a positive growth in digital transformation; and looks toward the future, including goals, concerns and excitement for advising rising entrepreneurs.
Eric is an investment banker with GP Bullhound, focusing on consumer subscription software (CSS), enterprise software, and financial technology. With investments in companies ranging from Spotify to Fishbrain, and clients such as AllTrails, Partnerize, and Motif, GP Bullhound provides transaction advice and capital to many of the leaders in the consumer subscription software space. Prior to joining GP Bullhound, Eric was a senior executive at a leading education SaaS company focusing on corporate finance and strategy.
Johan Roslund, förvaltare på GP Bullhound, diskuterar sina tre favoriter bland techbolagen: Alphabet, Microsoft och Google. Dessa har mer att ge trots höga värderingar menar han.
What is a unicorn? Thanks for asking!A unicorn is a privately-owned start up company valued at over $1bn when launched on the stock market. That’s right, we’re not talking about mythical animals, but economy and finance! The term was popularised in 2013 by venture capitalist Aileen Lee, with the choice of word reflecting the rarity of such success stories. Even more rare are decacorns and hectacorns, which have a value of over $10bn and $100bn respectively. Business analytics platform CB Insights reported that there were 450 unicorns in the world as of October 2020. That number has quadrupled since 2014. Some of the largest are well known, like Byte Dance, Snapchat or AirBNB for example, but most are unknown. Around a half of unicorns are American, and over a third are from Asia. Meanwhile, 16% are from Europe. According to GP Bullhound, the UK is Europe’s leading country by number of unicorns, with 30 in total and a combined value of $87bn. Five new UK companies have achieved that status since last year: Snyk, Checkout.com, Rapyd, HealthTech Babylon and MagicLab.Are you saying all I need is a good idea to turn into my very own unicorn? Well you need a strategy too and most importantly investors. Raising capital is where unicorns are particularly strong and to do that they go through external funding rounds. When a project appeals to investors, they take a chance on the future success of that startup. There’s no expectation of an immediate result, but in the long term investors will get back a return on their investment when the company is sold or launches on the stock market.Well if a company gets to be worth over $1bn, its investors must become super rich! In under 3 minutes, we answer your questions!To listen the last episodes, you can click here: What is Tourette's Syndrome? What is Cluster 5?What are microplastics? See acast.com/privacy for privacy and opt-out information.
Per is a cofounder of GP.Bullhound, a $400m AUM VC and investment bank with 125 deal makers across 10 offices in Europe, the US and Asia. Discussing investment strategy, getting into category winners, primaries, secondaries, M&A market dynamics, the impact of CIFIUS on Chinese acquisitions of European and American startups, the future of global entrepreneurship, VC and investment banking. My favorite quote of the podcast “What kind of investment manager are you if you haven't met the management team prior to March?” Full video: https://youtu.be/yaTmYZOeiYI Contact me to be introduced to Per > andrew@7bc.vc.
EFN Marknad riktar blickarna österut mot Kina. I programmet tipsas det om e-handelsplattformar, e-sportsplattformar och Kinas Nike. För tipsen står Yining Wang, partner och investeringsdirektör på Nordic Asia Group, och Johan Roslund, portföljförvaltare på GP Bullhound.
Je vous propose aujourd'hui un nouveau podcast hors-série sur la banque d'affaires avec GP Bullhound (enregistré via Zoom avec une qualité de son qui n'est pas optimale). Dans cet épisode j'interviewe Joy Sioufi qui nous présente ce nouvel acteur de la tech M&A en France et sa vision du marché et des process M&A. A travers cet épisode vous allez découvrir une multitude de bons conseils pour préparer et appréhender une opération de rachat M&A. Dans ce podcast on revient également sur les bonnes pratiques d'un process M&A réussi et les options stratégiques et scénarios qui existent pour les entrepreneurs lors d’une opération de rachat.
Which are the companies that will rewrite the rules and help rebuild the economy in 2020 and beyond? The Spectator and Julius Baer have come together once again to celebrate creative entrepreneurship across the UK. On this podcast, The Spectator's business columnist Martin Vander Weyer talks to a panel of high profile judges from the business world about the finalists in the West and the South West - from contactless payment for the charities sector to 'haptic' technology which allows users to touch virtual screens. The guest judges were Angela Luger, a newcomer to these Awards who has had a long career in consumer-facing businesses, latterly as chief executive of the online retailer N Brown until 2018 and currently as a non-exec at New Look and chair of Edinburgh-based The Paint Shed. Hugh Campbell, founder and managing partner of investment bank GP Bullhound — which advises and invests in ‘future unicorns’ — rejoined us for the third year. And the panel was completed by Dawn Li Wan Po, an executive director of Julius Baer and senior portfolio manager there.
Vad är e-sport och hur ska du investera för att bli en vinnare på det? Det och mycket mer svarar Inge Heydorn från GP Bullhound på i EFN Marknad.
EFN Marknad bjuder på en resa bland molnbolagen. Förvaltaren Johan Roslund från GP Bullhound går pedagogiskt igenom hela värdekedjan - från Microsoft och Amazon till Docusign och Okta.
I dagens EFN Marknad blir det fullt fokus på tech. Johan Roslund från GP Bullhound går igenom hur de stora techbolagen står sig i pandemin. Dessutom svarar han på tittarfrågor.
I veckans podd gästas vi av tidigare investeringschefen på SEB och numera investeraren och entreprenören Ann Grevelius. Efter en lång karriär inom olika storbanker valde Ann att säga upp sig utan att veta vad hon skulle göra därefter. Hon började på GP Bullhound och blev riskkapitalist. Idag investerar hon i startups och är medgrundare till sparappen Opti. I intervjun får vi höra mer om Anns investeringar, vad som är viktigt för henne när hon investerar och om varför hon varit med och startat sparappen Opti.
I veckans avsnitt pratar Philip och Dan om bra bolag. Finns det bra bolag och vad kännetecknar dem? Vi får besök av Johan Roslund på GP Bullhound. Johan delar med sig av sina tankar om vad som kännetecknar ett bra bolag. Hur utvärderar du bolag och vad ska du titta efter? Philip och Dan pratar om vad de tycker kännetecknar bra bolag och ämnet favoritbolag berörs även det.
I detta avsnitt intervjuas Johan Roslund på GP Bullhound, som har stenkoll på tekniksektorn. Det blir inledningsvis mycket mobilspel och gaming, för att övergå till fintech och stora tekniktrender. Det blir även ett par intressanta bolagscase! Tack till IG Markets, samt BestSecret! Surfa in på BestSecret.se/fillorkill för att regga er!
Ann Grevelius är styrelseproffs, senior advisor till GP Bullhound och en del av Nasdaqs bolagskommitté för nya bolag in till börsen. Hon har över 20 års erfarenhet från både Handelsbanken och SEB. Lyssna in för att höra hennes tips för en karriär inom finans och hennes tankar om investeringsklimatet nu och framöver.
2019 ist das Jahr, in dem die männliche Vorherrschaft in der Digital-Branche zu Ende geht. Diese und andere Prognosen stehen im Mittelpunkt der neuen Ausgabe der "Digitalen Viertelstunde". Zu Gast ist dieses Mal Julian Riedlbauer von GP Bullhound. Jedes Jahr veröffentlicht das weltweit agierende Tech-Investitions- und M&A-Beratungsunternehmen GP Bullhound die wichtigsten digitalen Trends des kommenden Jahres. Neben dem zu erwartenden Ende der Männer-Dominanz geht es im Podcast unter anderem auch darum, warum sich das Unternehmen mit einer Prognose für 2018 erstaunlicherweise schwer getäuscht hat. Julian Riedlbauer kam im August 2012 als Partner zu GP Bullhound. Bevor er die Leitung des deutschen Büros übernahm, war er geschäftsführender Gesellschafter und Gründer der M&A-Boutique Pure Equity Advisors.
2019 ist das Jahr, in dem die männliche Vorherrschaft in der Digital-Branche zu Ende geht. Diese und andere Prognosen stehen im Mittelpunkt der neuen Ausgabe der "Digitalen Viertelstunde". Zu Gast ist dieses Mal Julian Riedlbauer von GP Bullhound. Jedes Jahr veröffentlicht das weltweit agierende Tech-Investitions- und M&A-Beratungsunternehmen GP Bullhound die wichtigsten digitalen Trends des kommenden Jahres. Neben dem zu erwartenden Ende der Männer-Dominanz geht es im Podcast unter anderem auch darum, warum sich das Unternehmen mit einer Prognose für 2018 erstaunlicherweise schwer getäuscht hat. Julian Riedlbauer kam im August 2012 als Partner zu GP Bullhound. Bevor er die Leitung des deutschen Büros übernahm, war er geschäftsführender Gesellschafter und Gründer der M&A-Boutique Pure Equity Advisors.
Martin Vander Weyer, the Spectator's Business Editor, hosts a series of podcasts discussing the entrepreneurs who are disrupting their respective industries. In this episode, Martin talks to Mancunian investor Hugh Campbell, founder of GP Bullhound, and James Bailey, managing director for Julius Baer in Manchester and the North West, about entrepreneurship in Manchester, the North West, and Wales. Sponsored by Julius Baer.
digital kompakt | Business & Digitalisierung von Startup bis Corporate
Funktionen, Tipps und Taktiken – wofür braucht man einen M&A-Berater beim Verkauf und der Finanzierung von Unternehmen? Im Podcast-Interview sprechen wir mit Julian Riedlbauer, Deutschlandchef der Investmentbank GP Bullhound. Du erfährst... 1) …wann ein M&A-Berater ein Fluch, wann ein Segen ist 2) …worin sich früh- und spätphasige Verkäufe unterscheiden 3) …Wie man das Interesse von VCs weckt 4) …Was ein M&A-Berater kostet
Spotlight on Fintech - Gender equality not just a women's issue
With PSD2 and Open Banking set to expand the market for fintechs and traditional players, larger banks are facing the decision to build, buy or partner with innovative fintechs to ensure their considerable customer base remains loyal. During Spotcap’s round table, we heard from companies on the front line of this evolution of financial services. Our five panelists from Spotcap, Deutsche Bank, McKinsey, Figo and GP Bullhound discussed how the ecosystem model will evolve, the challenges and opportunities on both sides, and what it all means for the consumer. The discussion was moderated by Nadine Schimroszik, IT Correspondent at Reuters. Keep up with us on: Facebook: spotcap-global Twitter: spotcapglobal LinkedIn: spotcap-global-services Instagram: Spotcaptalent
Med gedigen bakgrund inom bank och finans är hon nu ängelinvesterare och rådgivare på GP Bullhound. I Investpodden pratar vi om hur Ann hittade sin bana, varför 90-tals krisen var den bästa tänkbara skolan och hur hon ser på framtida finanskriser. See acast.com/privacy for privacy and opt-out information.
Med gedigen bakgrund inom bank och finans är hon nu ängelinvesterare och rådgivare på GP Bullhound. I Investpodden pratar vi om hur Ann hittade sin bana, varför 90-tals krisen var den bästa tänkbara skolan och hur hon ser på framtida finanskriser. See acast.com/privacy for privacy and opt-out information.
Årets första sommarpoddare är Joakim Dal, Investment manager på GP Bullhound. Joakim är en av Sveriges vassaste techinvesterare och vi pratar om hur man analyserar techbolag och vilka trender som är mest intressanta. Dessutom får vi Joakims syn på Spotify, Matsmart och ridesharingbolagen. Måstelyssning!
Julian Riedlbauer has 20+ years experience in entrepreneurship. After building up extensive M&A experience on the sell- and buy-side as an entrepreneur, Julian founded the M&A boutique “Pure Equity Advisors”, which was acquired by GP Bullhound. Today, Julian Riedlbauer is Partner and Head of German Office at GP Bullhound, which is an investment bank focused on providing advice on M&A and institutional capital raising in the technology sector. GP Bullhound has completed over 210 transactions for many category leaders such as Signavio or Delivery Hero and has offices in San Francisco, London, Stockholm and Berlin. In this episode, Julian shares the traits of the high-level entrepreneurs he encounters every day, one key learning he achieved after gaining 20+ years experience in the entrepreneurship world as well his best advices to first-time founders on how to start a company with high exit potential.
Vad är en unicorn? Vad händer när ett bolag får sådan hög värdering? GP Bullhound är i studion och diskuterar deras senaste undersökning och vad det är som ligger bakom techbolagens värdeutveckling. See acast.com/privacy for privacy and opt-out information.
In this episode, Seedcamp Partner Carlos was joined by Hugh Campbell from GP Bullhound. The conversation begins with Hugh explaining his time at Oxford where he studied "Physiology, psychology and philosophy". They then proceed into speaking about his work experience with City Bank and Goldman Sachs before his 3 co-founders decided to take the lessons learned in investment banking to create GP Bullhound. Since it's inception the company has now expanded outside London to new locations like Manchester, Germany and France to be closer to great tech companies because these come from all over Europe. Speaking about the challenges of fundraising Hugh shares that in his view today's biggest challenge for founders in the UK is not to raise £1M early stage round given the existing tax benefits but it's much harder for businesses that are at 10 or 15 people and want to grow to 100 and need a larger round. He then proceeds to share his tips on fundraising and give examples on how to build better relationships with investors while explaining how trust plays a big part of an M&A deal. Regarding exits they discuss the rise of private equity firms in the purchasing of tech busiensses and how those are different from traditional large acquirers like Google, Microsoft or Facebook. During the podcast Hugh and Carlos also approach the state of enterprise software market especially regarding exit options. They then proceed speaking about the evolution of the European investor and tech scene during the last decade focusing in the IPO scene and how it is improving in Europe with IPOs like Auto Trader, Boohoo, Zalando and Rocket Internet. These have been impacting the entire European landscape including the German technology market fuelling it's incredibly fast growth - especially in Berlin all of which despite not having the tax brakes in the UK. Finally they discuss the expansion strategies for UK based companies and Hugh shares his favourite book for young entrepreneurs so that they can evaluate if their idea is any good at an early stage. Show notes from the episode: Carlos Website: http://www.carlosespinal.com Seedcamp: http://www.seedcamp.com GP Bullhound: http://www.gpbullhound.com/ Related bio links: Carlos: uk.linkedin.com/in/carloseduardoespinal / @twitter.com/cee Hugh: https://uk.linkedin.com/in/hucampbell / https://twitter.com/hugh_gpb
Julian has years of operating and investing experience in Internet and technology firms. In this talk, he shares outstanding advice for entrepreneurs looking to start up. Watch Video Interview: http://bit.ly/28rB5sq Check out Coursebirdie: https://coursebirdie.com Subscribe on iTunes: apple.co/1tBmCuf Like Coursebirdie on Facebook: https://www.facebook.com/coursebirdie Follow Coursebirdie on Twitter: https://twitter.com/coursebirdie Follow Abhilasha on Twitter: https://twitter.com/abhlshachauhan
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