VC's busiest quarter in recent memory-5/10

Great news on the VC front as reported in the Mercury News. Record breaking numbers!!!  It may be too early to say we're back, but we are heading in the right direction.  Nick

After two downbeat years for the venture capital industry, April Fools' Day brought some good news.
Venture capitalists had their busiest quarter in recent memory, with nine venture-backed companies going public and a record-breaking 111 companies changing hands in mergers and acquisitions according to a report released Thursday by Thomson Reuters and the National Venture Capital Association.
The momentum was decidedly upward. Sunnyvale-based Meru Networks' Wall Street debut Wednesday won positive reviews from investors that again seem eager for initial public stock offerings. Eight of the nine companies that debuted during the quarter were trading on Wednesday at or above their offer prices.
Meanwhile, the average value of 31 disclosed venture-based M&A deals was $180.2 million — 21 percent higher than the average transaction value for all disclosed deals in 2009, according to the report.

In the quarter's largest deal, Ethicon acquired Menlo Park-based Acclarent, a developer of surgical devices, for $785 million.
The 111 M&A deals — including 81 in the information technology sector — were the most since such record-keeping began in 1975. The activity reflected a shopping spree in which companies that thrived despite the recession were able to acquire technology from financially weakened companies.
IPOs and M&A deals are known as "exits" in industry parlance, because they allow venture firms
to convert their equity stakes into cash to provide returns to limited partner investors, realize their own profits and raise new funds based on previous success. Such exits were few and far between in 2008 and 2009 amid a recession exacerbated by the financial industry crisis.
"The exit activity "... has engendered a cautious optimism within the venture capital industry," National Venture Capital Association President Mark Heesen said in a news release. The IPO volume, he said is "not nearly enough to declare a recovery," but the interest of investors and the number of companies in registration for IPOs are encouraging signs.
The whopping number of M&A deals "is also encouraging as the quality of these transactions appear to have held strong," Heesen added. "It is premature to suggest we have permanently turned the corner, but that corner is in sight and within reach."

f you are considering a career coach, choose wisely. Make sure they know the industry, understand your  goals and have a  track record of success. Speak to people they have worked with. While there are plenty of free resources to help you become better at developing your career,  the right career coach can make a huge impact on your overall results. To learn more about our  our career coaching program, contact us at :  949.675.0000 ext. 101

Summer slow down?

I am often asked if summer is a good time to find a job. It depends on a few variables which I have outlined below.

1. Have you just started looking?
If so, you may find that the overall interview process is somewhat longer this time of year due to vacation schedules. Normally it takes 4-6 weeks to secure an offer once you enter the interview process. In the summer you can easily add a couple of weeks to that time frame . While this can be frustrating, I always advise people to continue to look for new opportunities even if you think you may have found the perfect job. You can spend 2 months waiting on an offer that may never arrive.

2. It depends on your background?
While most indicators continue to show a weak job market, technology companies continue to grow. As a search firm, 90% of the people we place have 8+ years of experience in sales/ sales management, presales and consulting services. Our clients are looking for talent in all of those areas. With that said, if you have this type of background, this summer should be a very good time to look for work.
If you are looking for new opportunities and work in the above areas, we would be happy to review your resume. Send it to: futurejobs@firstround.net.
 You can also visit our job board to see a more detailed list of our current open positions.

3. What are you doing to find work?
We spend a good deal of time talking to companies that are potentially looking to add talent to their organizations. We also send out a minimum of 200 emails to hiring managers’ each month. While this may seem like a small “sampling”, it typically gives us a good idea of where the job market is heading. If you are trying to find new work and are calling recruiters, networking and posting on job boards you may come to the conclusion that the job market is slow. It’s not. You need to recognize that the market has changed dramatically and while the above activities are a good start, they are not enough to really create multiple career options.


Take advantage of our complimentary, job market evaluation call. One minor flaw in your search approach is enough to keep even the best talent from reaching their career goals. Contact an expert today at: 949.675.0000 ext 101