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IDCEE 2013: Silicon Valley Open Doors - Stas Khirman (CTO @ Deutsche Telekom Hosted Business Services & Managing Partner @ TEC Ventures)

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http://idcee.org/p/stas-khirman-tec-ventures/

Stas is a serial entrepreneur and co-founder of three Silicon Valley startups. Following the acquisition of his latest startup ChooChee by Deutsche Telekom, Stas currently serves as CTO of Deutsche Telekom Hosted Business Services.

Stas is a Managing Partner of TEC Ventures, an early stage technology venture fund, based in the Silicon Valley, and a founder of TEC Club (www.tecglobal.org), a network of thousands of high-tech professionals, investors and angels from all over the world, with the headquarters in the Silicon Valley.

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  • SF->SJ = 50 MILES OR 80KM
  • http://www.theatlanticcities.com/jobs-and-economy/2013/06/americas-top-metros-venture-capital/3284/
  • http://www.pwc.ru/ru_RU/ru/technology/publications/moneytree-april-2013.jhtml
  • [Substantially higher in 2012 than in 2010 and 2011. And going up in 1st quarter of 2013. Especially for the later rounds.  So this is good news for entrepreneurs. There are several reasons for the increase in valuation. Economy is improving; the “instagram effect” and pinterest effect; successful second or third time founders commanding higher valuations. Perhaps the best explanation is the fact that companies use their money more efficiently than before and seek to raise new rounds later in the company’s life, in terms of technology development, achieving milestones, etc. This translates into a higher valuation]
  • What’s the most important take away from this discussion? It’s that in initial and follow on financings, the founders get to keep more of the company. It’s math. The percentage of the company investor gets equal the amount of investment divided by the pre-money valuation. My friends at WSGR have come up with a very nifty graph, which I’ve reproduced below. The graph shows the company ownership after the first round of financing.  This graph assumes that 15% of the company is reserved for stock options issuances, which usually comes out of the founders’ shares.
  • http://www.siliconvalleyindex.org/index.php/economy/entrepreneurship
  • http://viodi.com/2011/09/28/global-telcos-come-to-silicon-valley-in-search-of-innovation-and-partnerships/Telecom companiesBritish TelecomFrance Telecom-OrangeDeuchetelekomSamsungNokiaSonySiemense
  • http://www.kauffman.org/entrepreneurship/foreign-born-entrepreneurs.aspx
  • http://venturebeat.com/2012/10/15/how-indians-defied-gravity-and-achieved-success-in-silicon-valley/#ZSdtRrjDA5OctiKA.99http://www.kauffman.org//uploadedFiles/Then_and_now_americas_new_immigrant_entrepreneurs.pdfhttp://papers.ssrn.com/sol3/papers.cfm?abstract_id=2159875Then and Now: America's New Immigrant Entrepreneurs, Part VIIVivekWadhwaCenter for Entrepreneurship and Research Commercialization, Pratt School of Engineering; Stanford University - Arthur & Toni Rembe Rock Center for Corporate GovernanceAnnaLeeSaxenianUniversity of California, Berkeley - School of InformationFrancis Daniel Siciliano IIStanford Law School
  • http://zipatlas.com/us/ca/palo-alto.htm#ancestry
  • Founded in 2002Over 10,000 membersAmBAR (American Business Association of Russian-speakingProfessionals) is the largest Russian-speaking business associationthat serves as a networking platform to facilitate the exchange ofknowledge and ideas among technology entrepreneurs, professionals, andangel/VC investorsSergey BrinMax LevchinPhil Libin
  • Founded in 2002Over 10,000 membersSergey BrinMax LevchinPhil Libin
  • Founded in 2002Over 10,000 members
  • Founded in 2002Over 10,000 members
  • Founded in 2002Over 10,000 members

IDCEE 2013: Silicon Valley Open Doors - Stas Khirman (CTO @ Deutsche Telekom Hosted Business Services & Managing Partner @ TEC Ventures) Presentation Transcript

  • 1. Silicon Valley Open Doors Stas Khirman Managing Partner, TEC Ventures stas@khirman.com
  • 2. About Myself • Moved to the Valley in 1998 • Co-Founded 3 startups, 2 successful exits – Boeing – Deutsche Telekom • Managing Partner at TEC Ventures • Director @ AmBAR, Co-Chair @ SVOD • Contact: stas@khirman.com
  • 3. Silicon Valley & San Francisco
  • 4. Stanford University
  • 5. Venture Capital in the Silicon Valley NVCA & PWC MoneyTree
  • 6. Venture Capital in the Silicon Valley Silicon Valley + San Francisco (2012- pwc-MoneyTree): - 1159 deals (30.7% of US) - $10.9B (40.4% of US) - Average deal: $9.5m Europe (2012 – Dow Jones VentureSource) - 1074 deals - $5.8B - Average deal: $5.4m
  • 7. Median Pre-Money Valuations $160 $140 $120 $100 Series C+ $80 Series B $60 Series A $40 $20 $2007 2008 2009 2010 2011 2012 Q1'2013 By Leonard Grayver, WSGR, Fenwick
  • 8. Median Amount Raised $30 $25 $20 Series C+ $15 Series B Series A $10 $5 $2007 2008 2009 2010 2011 2012 Q1'2013 By Leonard Grayver, WSGR, Fenwick
  • 9. Round A Investors Share 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% 2007 2008 2009 2010 2011 2012 Q1'2013
  • 10. MERGERS & ACQUISITIONS By Factset Mergerstat LLC
  • 11. Global Companies
  • 12. Immigrant-Founded Venture-Backed Companies by Year of IPO From National Venture Capital Association report: • 2006-2012 – 92 IPO companies (33% of US) had one or few foreign born founders • Rise of about 60% from previous 7 years. NVCA
  • 13. Immigrant-Founded Companies in the Silicon Valley Kauffman Foundation
  • 14. Origins of Engineering and Technology Company Immigrant Founders (Silicon Valley ) Kauffman Foundation
  • 15. Palo Alto, Ancestry… Russia: 2,425 (3.88 %)
  • 16. Palo Alto, Ancestry… Ukraine: 563 (0.90%)
  • 17. Palo Alto, Ancestry… “Russians”: 2.998(4.78 %)
  • 18. Palo Alto, Ancestry… 18.00% 16.00% 14.00% 12.00% 10.00% PALO ALTO 8.00% USA 6.00% 4.00% 2.00% IC AN AM ER H LIS PO TT IS H SC O N IT AL IA H EN C FR IN DI AN US SI AN " "R IR IS H AN GE RM IS H EN GL CH IN E SE 0.00%
  • 19. Map.AmBARclub.Org
  • 20. Map.AmBARclub.Org
  • 21. Partnerships
  • 22. SVOD Conference Silicon Valley Open Doors! December 3-4, 2013 Computer History Museum NOT TO BE MISSED EVENT! http://svod.org/
  • 23. Investors & Startups http://svod.org/
  • 24. SVOD Success Stories • Evernote – SVOD2005 presenter! • Viewdle – First Ukrainian startup acquired by Google • Wrike – just got $10m investment • Wikimart, OkToGo, GetGoing – first major investments at SVOD! http://svod.org/
  • 25. Silicon Valley Open Doors
  • 26. Q&A stas@khirman.com info@svod.org