european champions in entrepreneurship by nenad marovac
TRANSCRIPT
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EUROPE HAS NEVER BEEN BETTER
Nenad Marovac, DN Capital, 2012
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Who reads The Economist?
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It’s time to change the record
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Ever used this?
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Or this?
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Or this?
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Recognize these?
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What do they have in common?
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Yes, Europe is the source of many global leaders
9
• Worldwide gaming portal• Estimated valuation: $600
million
• Online dating service• Current valuation: $360
million
• Exit price: €2 billion (eBay)• Spun out and reacquired by
Microsoft for $8.5 billion
• Enterprise software• Exit price : $6.5 billion (IPO)• Acquired by HP for $10.2
billion
• Mobile gaming company• Estimated valuation: $1.2
billion
• Private-sale online retailer• Estimated valuation: $3.0
billion
• Music recognition mobile app• Estimated valuation: $1 billion
• Music streaming software• Estimated valuation: $1
billion
8 European Start-ups generated c.$25bn of value* over the last 10 years
*THESE VALUATIONS ARE ROUGH ESTMATIONS AND SHOULD NOT BE CONSIDERED AS THE EXACT VALUES OF THE PRESENTED COMPANIES
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Putting this in context
10
$25bn of Value Generated by 8 Companies
Reasonably assume that 50% of Equity is Owned by Founders and Management Team
Yes, that is $12.5bn going to the entrepreneurs!
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So, what makes Europe so successful?
� Evolution of the European ecosystem� Emergence of serial, experienced
entrepreneurs� Global leading companies coming from
Europe and generating substantial returns� European start-ups going international� US VCs investing in Europe
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A new ecosystem is emerging in Europe
1
.
Higher quality companies
Higher returns
… helping to create the new generation of
successful entrepreneurs
The emergence of serial entrepreneurs
… supported by high profile, experienced
angel and seed funding…
… while major events and groups are nurturing the
ecosystem…
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The emergence of serial entrepreneurs
The vibrant entrepreneurial ecosystem in Europe is led by serial and experienced entrepreneurs:
Lukasz Gadowski
Marc Simoncini
Niklas
Zennstrom
Brent Hoberman
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Stefan Glaenzer
Marc Simoncini
Xavier Niel
Brent Hoberman
Lars Hinrichs
Lukasz Gadowski
NiklasZennstrom
Nenad Marovac
Supported by high profile,experiencedangel and seed funding…
Giuseppe Zocco
1996 2000 2006 2008 2010 20112009
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And of Course the Infamous Trio …
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… while major events and groups are nurturing the ecosystem…
SEEDCAMPSEEDCAMP
LeWeb ParisLeWeb Paris
DLDDLD
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… helping to create the new generation of successful entrepreneurs
A new wave of young and talented European entrepreneurs:
Hej jag ärDanielEk
Hi! I AmAlexander Ljung
Hallo ichbin Dirk Graber
Hej jag ärJacob de Geer
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The Top US VCs have now accepted that Europe is a great place to start a company
� Bessemer, KPCB, Sequoia and Union Square Venture have all invested in European start-ups, including:
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Such an ecoystem has enabled European start-ups to conquer the world…
100m+downloads of “Angry Birds”
84m+ tags per monthShazam for TV – Partnered with 50% of Super Bowl Advertisers
Stardoll by barbie$20.99 retail price
2m+ app downloads on mobile devices
500K+Fon Hotspots
Diadmond Dashfeatured in 14/19 app stores in Africa
50% of Kids Aged 6-12 have adopted a pet
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So where is the action?Legend
> $1bn
>$100m
Potential
($100m or more)
Valuation at 1st exit
A = Acquired;
I = IPO
P = Potential Exit
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Where is Europe Leading the Way?
MUSIC Games
E-commerce Software
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Consumer Digital Media Trends
The “App-economy”
� Revenue from major app stores grew from $830 million in 2009
to an estimated $5.6 billion in 2012
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Consumer Digital Media TrendsMobile Games
� 1 billion downloads
� 50m Angry Birds Space
� downloads in 35 days
� Gamers play Angry Birds 200 million minutes � per day!
� 16 years of gameplay every hour!
� Reported valuation of $1 billion+
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The market for start-ups in Europe has never been better
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High quality entrepreneurs and ecosystem
Smart MoneyMarket ready for success
stories
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QUESTIONS ?