Going public is not always the best choice for a company and does not guarantee success. The speaker will discuss his experience taking the company Viadeo public on the Paris stock exchange. Going public requires disclosing private company information and finances, takes significant time and money, and can create pressure to focus on short-term earnings over long-term investments. It may not provide liquidity or protection from takeovers. Key factors for success include revenue, profitability, predictability, and share liquidity.

1. FailCon
Going Public:
Not always the Holy Grail
FailCon Paris
– Sept 25th, 2012
© Viadeo 2010

2. Some curves make you crazy…

3. Others don’t…

4. My experience « IPO in Paris, Eurolist B »
50
45
40
35
30
25
20
15
10
5
0

5. What happened
• Disclose key figures and secrets,
• Time & €
• « Q Earnings » vs « dev and Investments »
• No liquidity ; No possible takeover bid ; Index volatility
• Good point : help to structure internal information

6. Key Take Over
• Revenue,
• Profitability,
• Predictability
• Liquidity

7. Thanks
Olivier Fécherolle
Chief Strategy & Development Officer
ofecherolle@viadeoteam.com
@OlivierFech
© Viadeo 2010