It’s not news – cash flow problems kill off startups right and left. They almost killed off ours. Back in 2014, just before co-founding Publicize with my partner Eddie Arrieta, I completed an application for a pre-Stripe era payment processor, estimating that we’d need to process up to $1000/day. One TechCrunch feature later and our small team was welcoming more and more new clients, relishing the taste of success and congrats from friends, and looking to more than double in size. Hard Fork? Hard Fork. HARD FORK There was just one problem. A call from said payment processor informed us that we’d surpassed our $1000/day limit. And given they were liable for refunds during the initial 6-month period, they couldn’t disburse to us the funds processed until after these 6 months passed. In short, our burgeoning business couldn’t make payroll. From the outside it looked like we were a success story, however internally it wouldn’t be long until … [Read more...] about Surviving a cash flow crisis: An entrepreneur’s guide to keeping your startup financed
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Bain Capital pledges support for further Toshiba chip acquisitions
Bain Capital, the leader of a successful bid by a consortium of investors to acquire Toshiba's chip business, says it will support the firm's future purchases in the memory industry.Speaking at a conference following the completion of the $18 billion deal, Yuji Sugimoto, head of Bain Capital in Japan, said: "I believe our financing power will enable Toshiba Memory to engage in large-scale M&A deals."Last week, Bain Capital's consortium and Toshiba announced the completion of the buyout.Despite delays caused by Chinese antitrust regulators in the midst of a battle between the US and China on trade deals, the acquisition is now wrapped up. Investors including Apple, SK Hynix, Dell, and Seagate Technology now own portions of the lucrative unit.Toshiba was able to repurchase 40 percent of the memory chip business under the terms of the sale, and the memory business is expected to become an affiliate in the future. As reported by Reuters, Toshiba Memory president Yasuo Naruke … [Read more...] about Bain Capital pledges support for further Toshiba chip acquisitions
Bain Capital to support Toshiba Memory pursue chip sector acquisitions
TOKYO (Reuters) - Bain Capital, which led the $18 billion acquisition of Toshiba Memory Corp, said on Monday it plans to support the business in pursuing acquisitions in the chip industry. “I believe our financing power will enable Toshiba Memory engage in large-scale M&A deals,” Yuji Sugimoto, head of Bain Capital in Japan, said at a news conference after its consortium completed the deal last week. Bain will hold discussions with Toshiba Memory president Yasuo Naruke on what kind of technologies or acquisitions would be needed strategically for the company ahead, he added. Naruke said the firm would in the longer term need various technologies relating to next generation memory chips. Last September, the Bain consortium won a long and highly contentious battle for Toshiba Corp’s chip business, the world’s No. 2 producer of NAND chips. Toshiba Corp, which put the business up for sale after billions of dollars in cost overruns at its Westinghouse … [Read more...] about Bain Capital to support Toshiba Memory pursue chip sector acquisitions
IHS Markit Announces Intent to Acquire Ipreo, a Leading Software Solutions and Data Provider in Global Capital Markets
LONDON--(BUSINESS WIRE)--May 21, 2018--IHS Markit (Nasdaq: INFO), a world leader in critical information, analytics and solutions, has signed a definitive agreement to acquire Ipreo, a leading financial services solutions and data provider, for $1.855 billion from private equity funds managed by Blackstone and the Goldman Sachs Merchant Banking Division.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180521005401/en/The acquisition is expected to close in the second half of 2018, subject to customary closing conditions and regulatory filings and approvals, including with the UK Financial Conduct Authority and under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976.IHS Markit also announced today that, following a detailed review of its financial services businesses as part of a disciplined capital allocation strategy, it has initiated a process to sell MarkitSERV, its derivatives processing business. MarkitSERV is … [Read more...] about IHS Markit Announces Intent to Acquire Ipreo, a Leading Software Solutions and Data Provider in Global Capital Markets
How better behaviour is helping to build better businesses
5 April 2018 Sponsored by When entire industries treat customers badly, their business is all but broken. That has created huge opportunities, says Simon Rogerson ADVERTISING FEATURE SIMON ROGERSON is musing on the forces that make good businesses behave badly. Take the financial services industry, for example. Between 2010 and 2014, UK banks paid out about the same amount of money in fines as they did in bonuses. It’s a statistic that gets to Rogerson. “How does an industry behave like that? When you’ve had to pay £38.5 billion in fines and compensation, how can you think it’s right to pay yourself £32.6 billion in bonuses?” he asks. “It’s no wonder this is the least trusted industry in the world.” Advertisement For Rogerson, this kind of behaviour is an opportunity. He and his colleagues Chris Hulatt and Guy Myles were young graduates, working for one of the largest financial companies … [Read more...] about How better behaviour is helping to build better businesses