Excerpt: "There has been a growing rate of exits happening for Asian e-commerce companies, but valuations remain small on average. Most are under the $50 million mark, according to CB Insights’ latest report."
In our part of the world, a few more reasons for not disclosing the terms of a sale include:
Cultural preference for keeping one's cards close to one's chest, not just in business but in life in general. The nail that sticks out, etc
A tendency for many entrepreneurs to see selling out as, well, selling out
Not wanting the neighbours, not to mention the taxman, to be aware of the details
Data really is scarce on the ground in Asia, much more so than in the US. The consequence of this, of course, is that people not in the know end up making poor estimates and assumptions, some downright stupid. When those assumptions start to spread in the market, it gets very hard for the original parties to correct the now prevalent misapprehensions.
What should CEOs of young businesses do every week? Here's a great list. Not only for tech companies.
Excerpt: "As a first time CEO, there were times when I would sit at my desk and think, “What should I be doing today?” This feeling was especially strong after every financing round closed. After our seed round, we had defined the product and the engineers were coding it. I didn’t code."
Excerpt: "As logistics continues to be a challenge to major ecommerce players, a tiny startup in Bangalore is promising intra city delivery in 3 hours. Zopnow, the grocery retailer has managed the feat. The online store, facilitates delivery of almost 95% orders within three hours!"
Excerpt: "There are great startup ideas lying around unexploited right under our noses. One reason we don't see them is a phenomenon I call schlep blindness. Schlep was originally a Yiddish word but has passed into general use in the US. It means a tedious, unpleasant task."
Third rule: make sure ownership, possession and control are aligned. "Bonuses and cash salaries produce opportunities for misalignment. Salary caps are very important. A categorical rule of thumb that Founders Fund has developed is that no CEO should be paid more than $150,000 per year."
Excerpt: "Over the last ten years I have worked with something like 35 different government agencies in the UK, Netherlands, Singapore, Australia and New Zealand. All are trying to support early stage business through economic intervention of some kind. I am struck by the fact that arguably the most successful country at entrepreneurship in the world — the United States — offers very little public support to entrepreneurs. It just clears the way for them to get on and do the job themselves."
Excerpt: "Tony Hsieh built his online shoe retailer into an e-commerce powerhouse. But with credit tightening and investors eyeing the exits, Hsieh was forced to ask: Was selling Zappos really the only way to save it? The first time Amazon.com tried to buy Zappos, we said no without even thinking."
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