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array(6) { ["headers"]=> object(Requests_Utility_CaseInsensitiveDictionary)#52190 (1) { ["data":protected]=> array(12) { ["date"]=> string(29) "Fri, 21 Sep 2018 08:31:31 GMT" ["content-type"]=> string(35) "application/atom+xml; charset=utf-8" ["set-cookie"]=> string(126) "__cfduid=d5438f065b511737e93efd610bab1327f1537518690; expires=Sat, 21-Sep-19 08:31:30 GMT; path=/; domain=.pando.com; HttpOnly" ["x-frame-options"]=> string(10) "SAMEORIGIN" ["x-content-type-options"]=> string(7) "nosniff" ["strict-transport-security"]=> string(35) "max-age=31536000; includeSubDomains" ["x-xss-protection"]=> string(13) "1; mode=block" ["last-modified"]=> string(29) "Tue, 11 Sep 2018 17:20:36 GMT" ["via"]=> string(9) "1.1 vegur" ["expect-ct"]=> string(87) "max-age=604800, report-uri="https://report-uri.cloudflare.com/cdn-cgi/beacon/expect-ct"" ["server"]=> string(10) "cloudflare" ["cf-ray"]=> string(20) "45db2d08df4c3994-PHX" } } ["body"]=> string(17875) " Pando latest articleshttps://pando.com/2018-09-11T17:20:36+00:00Speaking truth to the new power.© PandoWill 2018 be the rebound in tech IPOs that has been promised for years?2018-09-11T16:00:00+00:002018-09-11T17:20:36+00:00https://pando.com/2018/09/11/will-2018-be-rebound-tech-ipos-has-been-promised-years/<p>2018 just may be the rebound in tech IPOs that has been promised for years.&nbsp;</p> <p>According to Dealogic, 120 companies have staged IPOs in the first half of 2018, raising an aggregate of of $35 billion. It's the best first half for U.S. IPOs since 2014 and one of the busiest periods in the 24 years that Dealogic has been tracking IPO data. (That 120 figure doesn't include Spotify, which&nbsp;<a href="/2018/01/09/its-time-replace-unicorn-symbol-billion-dollar-startups-i-have-suggestion/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">skirted the IPO process</a>for a direct listing.)</p> <p>That's not all. Last week, as the sleepy summer season for IPOs drew to an end, Renaissance Capital published its fall&nbsp;<a href="https://www.renaissancecapital.com/review/US_Fall_Preview_2018_Public.pdf" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">IPO preview</a>&ndash; the underwriting world's equivalent of a seasonal fashion show &ndash; that argued that the already strong IPO class of 2018 was &ldquo;primed for a big finish.&rdquo; Here's why...</p>© PandoKevin Kelleherhttps://pando.com/author/kpkelleher/Best of Pando Monthly: Fred Wilson talks timing, luck, and the dangers of corporate venture capital2018-08-31T16:00:00+00:002018-08-31T18:34:10+00:00https://pando.com/2018/08/31/best-pando-monthly-fred-wilson-talks-timing-luck-and-dangers-corporate-venture-capital/<p>It's time for the latest installment in our series looking back at the best of Pando Monthly.</p> <p>In twenty years of covering the startup industry, this may be a first: A top VC advises people don&rsquo;t follow in his footsteps. Specifically, in this extract from our Pando Monthly interview from 2013, Union Square Ventures Fred Wilson talks about his route to venture capital and how he succeeded by timing, luck, and taking longer to learn parts of the business than he may have if he&rsquo;d had operating experiences.</p> <p>He also talks about the ascendancy of the New York ecosystem, as a man with one of the most valuable front row seats. We talked about the ups and downs of several of his largest investments, including Twitter, Tumblr, Foursquare and Zynga, and he addresses the dangers of a lot of corporate venture capital groups&hellip; and putting too much time in building hype...</p>© PandoSarah Lacyhttps://pando.com/author/pandosarahlacy/Facebook is closer to being another Yahoo than another Amazon2018-08-09T16:00:00+00:002018-08-09T18:22:56+00:00https://pando.com/2018/08/09/facebook-closer-being-another-yahoo-another-amazon/<p>Something big is happening in social media, and investors in social-media companies can't make up their minds what it is.</p> <p>Facebook's daily active users rose 2% from the previous quarter. Its revenue rose 43% year over year. Its stock fell 20% on its earnings report.</p> <p>Twitter's DAU is up (we think - the company still won't give actual figures). Its revenue rose 24% year over year. Its stock fell 21% on its earnings report.</p> <p>Snap's DAU was down 2%. Its revenue rose 44%. Its stock fell 7% on its earnings report.</p> <p>Coming into these figures blind, one might conclude that the audiences of these social networks have all saturated. That something must be wrong if investors are kicking companies with revenue growth above 20%. And that Snap, like Jake Gittes, is the&nbsp;<a href="https://www.youtube.com/watch?v=py6IpUx4eWs" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">leper with the most fingers</a>&nbsp;in this town...</p>© PandoKevin Kelleherhttps://pando.com/author/kpkelleher/Sonos' IPO: A first day pop, but can it fight off Apple, Amazon et al and win for the long term?2018-08-03T16:00:00+00:002018-08-03T20:47:32+00:00https://pando.com/2018/08/03/sonos-ipo-first-day-pop-can-it-fight-apple-amazon-et-al-and-win-long-term/<p>When Sonos was founded in Santa Barbara, Calif., in 2002, the world of the audiophile was very different.</p> <p>Napster, that early digital death knell of packaged music, had just shut down. The iPod was about a year old and Apple had sold only around 600,000 of the pocket music players. Spotify, Pandora, even iTunes didn't even exist.&nbsp;</p> <p>And if you wanted to dig into a deep library of music to play on a high-quality system, you had your work cut out for you. Big-box speakers connected to consoles with a tangle of cables, towers of CDs arranged in meticulous order to find the right album quickly. And if you wanted sound in more than one room, you might need a PhD...</p>© PandoKevin Kelleherhttps://pando.com/author/kpkelleher/The problem with the bull case of “Facebook’s figured slowing growth out before”2018-07-30T16:00:00+00:002018-07-30T20:28:22+00:00https://pando.com/2018/07/30/problem-bull-case-facebooks-figured-slowing-growth-out/<p>The bigger they get, the further they can fall.</p> <p>Last week the media and Wall Street and Silicon Valley were all agog watching Facebook stumble&hellip; in fact, that&rsquo;s the wrong verb. After revenue and user growth missed estimates, Facebook lost 20% of its market value-- a record making $120 billion rout.</p> <p>When you&rsquo;ve got no skin in the game, it&rsquo;s entertaining to watch the reactions to such an event.</p> <p>Since Facebook went public, a group of investors have seized on any weakness to insist Mark Zuckerberg has too much power at the company...</p>© PandoSarah Lacyhttps://pando.com/author/pandosarahlacy/Westergren and Conrad: "We were like the guy walking around the casino with just their underwear"2018-07-26T16:00:00+00:002018-07-26T16:19:48+00:00https://pando.com/2018/07/26/westergren-and-conrad-we-were-guy-walking-around-casino-just-their-underwear/<p class="dropcap">Pandora was never the darling of Silicon Valley. Ever.</p> <p class="dropcap">It never had the hype of Spotify, the scale &nbsp;of a hot social app, or the vision of Netflix. And yet, what it has always had is a leadership team that would not quit and a passionate user base who wouldn&rsquo;t quit on the product either.</p> <p>You hear a lot about the great entrepreneurs not giving up&hellip; but you hear less about founders pitching 348 investors before they got a yes, less about founding teams who went years without pay, less about founders who personally racked up half a million in debt trying to stay afloat. It took three acts of Congress to save Pandora at one point&hellip; and that was when a grassroots campaign by its users bailed the company out. More people complained that Congress might kill Pandora, than about the Iraq War.</p> <p>Pandora has had its ups and downs as a publicly traded company. But to even get to that place took more conviction than I&rsquo;ve seen most entrepreneurs have in nearly 20 years of covering tech.</p> <p>Back in 2014, I sat down in Vegas with Tim Westergren and Tom Conrad&nbsp;for a Pando Monthly interview. Here's an edited transcript in which they discuss early challenges, the tensions between streaming services and artists, the arduous battles in Congress, and offer some crucial advice to help other entrepreneurs get through tough times...</p>© PandoSarah Lacyhttps://pando.com/author/pandosarahlacy/"The line"2018-07-18T16:00:00+00:002018-07-18T21:20:56+00:00https://pando.com/2018/07/18/line/<p>This post has been a decade in the making.</p> <p>It was <a href="https://www.paulbradleycarr.com/2008/02/and-so-it-begins/">ten years ago</a> this past February that I flew in to JFK for what was intended to be a three month American adventure, traveling across the US by plane train and automobile and trying to blag my way into luxury hotels. If you've read <a href="https://www.amazon.com/Upgrade-Paul-Carr/dp/0297859293">The Upgrade</a>, you'll know what happened next: I <a href="https://www.theguardian.com/technology/2009/jan/21/not-safe-for-work-obama">fell in love</a> with the country and decided to make it my home.</p> <p>Ten years ago.</p> <p>Earlier this afternoon, in the San Francisco mailbox I share with my girlfriend, her two children and our three cats, I found an envelope from the United States Customs and Immigration Service. Inside that envelope was this...</p>© PandoPaul Bradley Carrhttps://pando.com/author/paulbcarr/Dara Khosrowshahi: A massive void where Uber's values should be2018-07-17T16:00:00+00:002018-07-17T18:02:32+00:00https://pando.com/2018/07/17/dara-khosrowshahi-massive-void-where-ubers-values-should-be/<p>Last week while I was traveling in Seattle, I stopped off at Geek Wire&rsquo;s offices to appear on their (excellent) <a href="https://www.geekwire.com/2018/week-geek-chairman-mom-fights-online-abuse-lime-teams-uber-335m/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">weekly podcast.</a></p> <p>One of the many things we talked about was whether or not <a href="/2017/08/29/money-has-karma-tech-worlds-standing-ovation-dara-khosrowshahi-premature/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">Uber&rsquo;s would-be savior </a>Dara Khosrowshahi is changing the culture at Uber.</p> <p>Khosrowshahi has a great reputation in Seattle, where his former company Expedia is based. There&rsquo;s a real sense there of, well, Expedia didn&rsquo;t have this culture, so clearly&nbsp;Khosrowshahi can&rsquo;t be cut from the same cloth as Travis Kalanick, right?</p> <p>I&rsquo;m hard pressed to think of any company aside from Uber that has so abdicated the benefit of the doubt but keeps getting it nonetheless.</p> <p>A few things...</p>© PandoSarah Lacyhttps://pando.com/author/pandosarahlacy/Leslie Feinzaig’s Army of Women2018-07-09T16:00:00+00:002018-07-09T23:49:56+00:00https://pando.com/2018/07/09/leslie-feinzaigs-army-women/<p>Leslie Feinzaig went after the American dream.</p> <p>She left her home in Costa Rica to attend such prestigious schools as the London School of Economics and Harvard Business School. She moved to Seattle after getting her MBA to for senior roles at Microsoft, and other startups, before starting her own company, Venture Kits in 2016.</p> <p>She was used to being an in-demand executive people were trying to poach and like so many women didn&rsquo;t really get hit with sexism until she became a new mom and an entrepreneur. She was shocked by some of the comments she got while raising money for Venture Kits, the suggestions that she was really just a stay at home mom, not a real entrepreneur. <em>A momtrepreneur.</em>&nbsp;</p> <p>Like so many other female founders, those stats-- that just 3% of venture backed companies have female CEOs-- became real at that moment.</p> <p>Since then, Feinzaig has fought to make life easier for other women building high growth companies in the Pacific Northwest. <a href="https://www.femalefounders.org/" target="_blank" rel="nofollow noopener"><u>Female Founders Alliance</u> </a>was started as a hobby, but is now a surging network of women who help each other solve tactical problems, like how to pitch investors or how to get press.</p> <p>I got to know Feinzaig recently, because I&rsquo;m headed to Seattle for several book/Chairman Mom promotional events, and several women have told me about what she&rsquo;s pulled together. She was my guest on this week&rsquo;s &ldquo;A Uterus Is A Feature Not A Bug&rdquo; podcast, where we talk about raising money as a new mom, what separates meaningful women&rsquo;s networking groups from the rest, and her career-long effort of beating the odds.</p> <p>If you live in Seattle, <a href="https://www.eventbrite.com/e/female-founders-alliance-presents-a-fireside-chat-with-ceo-founder-of-chairman-mom-pando-media-tickets-47366488442" target="_blank" rel="nofollow noopener"><u>check out this event</u> </a>we&rsquo;re doing <em>this Wednesday </em>with Feinzaig and her army of badass women.</p> <p><iframe style="border: none;" src="//html5-player.libsyn.com/embed/episode/id/6759524/height/360/width/640/theme/legacy/autonext/no/thumbnail/yes/autoplay/no/preload/no/no_addthis/no/direction/backward/" width="640" height="360" scrolling="no" allowfullscreen="allowfullscreen"></iframe></p>© PandoSarah Lacyhttps://pando.com/author/pandosarahlacy/Xiaomi's IPO takes a humbling blow, and that's not good for Chinese IPOs2018-07-03T16:00:00+00:002018-07-03T19:14:34+00:00https://pando.com/2018/07/03/xiaomis-ipo-takes-humbling-blow-and-s-not-good-chinese-ipos/<p>&ldquo;We must curb the&nbsp;<a href="http://www.scmp.com/tech/article/2140644/xiaomi-ceos-rather-counter-intuitive-success-formula-dont-be">tendency for greed</a>,&rdquo; Xiaomi CEO Lei Jun told the South China Morning Post in April.</p> <p>Which may explain the humbling of Xiaomi's long-awaited IPO. In May, Xiaomi filed for an IPO on the Hong Kong Stock Exchange, hoping to raise as much as $10 billion. That would have made it the largest IPO since Alibaba raised $22 billion in September 2014.</p> <p>Instead, Xiaomi raised $4.7 billion in an IPO that the&nbsp;<em>Wall Street Journal&nbsp;</em>dissed as &ldquo;<a href="https://www.wsj.com/articles/xiaomis-deflated-ipo-offers-some-hard-truths-1530264669">hapless</a>.&rdquo; The amount could rise if underwriters sell an overallotment of shares set aside for the offering. At $4.7 billion, Xiaomi's offering won't even rank in the 10 largest global IPOs since Alibaba went public...</p>© PandoKevin Kelleherhttps://pando.com/author/kpkelleher/" ["response"]=> array(2) { ["code"]=> int(200) ["message"]=> string(2) "OK" } ["cookies"]=> array(1) { [0]=> object(WP_Http_Cookie)#52193 (5) { ["name"]=> string(8) "__cfduid" ["value"]=> string(43) "d5438f065b511737e93efd610bab1327f1537518690" ["expires"]=> int(1569054690) ["path"]=> string(1) "/" ["domain"]=> string(9) "pando.com" } } ["filename"]=> NULL ["http_response"]=> object(WP_HTTP_Requests_Response)#52186 (5) { ["response":protected]=> object(Requests_Response)#52187 (10) { ["body"]=> string(17875) " Pando latest articleshttps://pando.com/2018-09-11T17:20:36+00:00Speaking truth to the new power.© PandoWill 2018 be the rebound in tech IPOs that has been promised for years?2018-09-11T16:00:00+00:002018-09-11T17:20:36+00:00https://pando.com/2018/09/11/will-2018-be-rebound-tech-ipos-has-been-promised-years/<p>2018 just may be the rebound in tech IPOs that has been promised for years.&nbsp;</p> <p>According to Dealogic, 120 companies have staged IPOs in the first half of 2018, raising an aggregate of of $35 billion. It's the best first half for U.S. IPOs since 2014 and one of the busiest periods in the 24 years that Dealogic has been tracking IPO data. (That 120 figure doesn't include Spotify, which&nbsp;<a href="/2018/01/09/its-time-replace-unicorn-symbol-billion-dollar-startups-i-have-suggestion/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">skirted the IPO process</a>for a direct listing.)</p> <p>That's not all. Last week, as the sleepy summer season for IPOs drew to an end, Renaissance Capital published its fall&nbsp;<a href="https://www.renaissancecapital.com/review/US_Fall_Preview_2018_Public.pdf" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">IPO preview</a>&ndash; the underwriting world's equivalent of a seasonal fashion show &ndash; that argued that the already strong IPO class of 2018 was &ldquo;primed for a big finish.&rdquo; Here's why...</p>© PandoKevin Kelleherhttps://pando.com/author/kpkelleher/Best of Pando Monthly: Fred Wilson talks timing, luck, and the dangers of corporate venture capital2018-08-31T16:00:00+00:002018-08-31T18:34:10+00:00https://pando.com/2018/08/31/best-pando-monthly-fred-wilson-talks-timing-luck-and-dangers-corporate-venture-capital/<p>It's time for the latest installment in our series looking back at the best of Pando Monthly.</p> <p>In twenty years of covering the startup industry, this may be a first: A top VC advises people don&rsquo;t follow in his footsteps. Specifically, in this extract from our Pando Monthly interview from 2013, Union Square Ventures Fred Wilson talks about his route to venture capital and how he succeeded by timing, luck, and taking longer to learn parts of the business than he may have if he&rsquo;d had operating experiences.</p> <p>He also talks about the ascendancy of the New York ecosystem, as a man with one of the most valuable front row seats. We talked about the ups and downs of several of his largest investments, including Twitter, Tumblr, Foursquare and Zynga, and he addresses the dangers of a lot of corporate venture capital groups&hellip; and putting too much time in building hype...</p>© PandoSarah Lacyhttps://pando.com/author/pandosarahlacy/Facebook is closer to being another Yahoo than another Amazon2018-08-09T16:00:00+00:002018-08-09T18:22:56+00:00https://pando.com/2018/08/09/facebook-closer-being-another-yahoo-another-amazon/<p>Something big is happening in social media, and investors in social-media companies can't make up their minds what it is.</p> <p>Facebook's daily active users rose 2% from the previous quarter. Its revenue rose 43% year over year. Its stock fell 20% on its earnings report.</p> <p>Twitter's DAU is up (we think - the company still won't give actual figures). Its revenue rose 24% year over year. Its stock fell 21% on its earnings report.</p> <p>Snap's DAU was down 2%. Its revenue rose 44%. Its stock fell 7% on its earnings report.</p> <p>Coming into these figures blind, one might conclude that the audiences of these social networks have all saturated. That something must be wrong if investors are kicking companies with revenue growth above 20%. And that Snap, like Jake Gittes, is the&nbsp;<a href="https://www.youtube.com/watch?v=py6IpUx4eWs" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">leper with the most fingers</a>&nbsp;in this town...</p>© PandoKevin Kelleherhttps://pando.com/author/kpkelleher/Sonos' IPO: A first day pop, but can it fight off Apple, Amazon et al and win for the long term?2018-08-03T16:00:00+00:002018-08-03T20:47:32+00:00https://pando.com/2018/08/03/sonos-ipo-first-day-pop-can-it-fight-apple-amazon-et-al-and-win-long-term/<p>When Sonos was founded in Santa Barbara, Calif., in 2002, the world of the audiophile was very different.</p> <p>Napster, that early digital death knell of packaged music, had just shut down. The iPod was about a year old and Apple had sold only around 600,000 of the pocket music players. Spotify, Pandora, even iTunes didn't even exist.&nbsp;</p> <p>And if you wanted to dig into a deep library of music to play on a high-quality system, you had your work cut out for you. Big-box speakers connected to consoles with a tangle of cables, towers of CDs arranged in meticulous order to find the right album quickly. And if you wanted sound in more than one room, you might need a PhD...</p>© PandoKevin Kelleherhttps://pando.com/author/kpkelleher/The problem with the bull case of “Facebook’s figured slowing growth out before”2018-07-30T16:00:00+00:002018-07-30T20:28:22+00:00https://pando.com/2018/07/30/problem-bull-case-facebooks-figured-slowing-growth-out/<p>The bigger they get, the further they can fall.</p> <p>Last week the media and Wall Street and Silicon Valley were all agog watching Facebook stumble&hellip; in fact, that&rsquo;s the wrong verb. After revenue and user growth missed estimates, Facebook lost 20% of its market value-- a record making $120 billion rout.</p> <p>When you&rsquo;ve got no skin in the game, it&rsquo;s entertaining to watch the reactions to such an event.</p> <p>Since Facebook went public, a group of investors have seized on any weakness to insist Mark Zuckerberg has too much power at the company...</p>© PandoSarah Lacyhttps://pando.com/author/pandosarahlacy/Westergren and Conrad: "We were like the guy walking around the casino with just their underwear"2018-07-26T16:00:00+00:002018-07-26T16:19:48+00:00https://pando.com/2018/07/26/westergren-and-conrad-we-were-guy-walking-around-casino-just-their-underwear/<p class="dropcap">Pandora was never the darling of Silicon Valley. Ever.</p> <p class="dropcap">It never had the hype of Spotify, the scale &nbsp;of a hot social app, or the vision of Netflix. And yet, what it has always had is a leadership team that would not quit and a passionate user base who wouldn&rsquo;t quit on the product either.</p> <p>You hear a lot about the great entrepreneurs not giving up&hellip; but you hear less about founders pitching 348 investors before they got a yes, less about founding teams who went years without pay, less about founders who personally racked up half a million in debt trying to stay afloat. It took three acts of Congress to save Pandora at one point&hellip; and that was when a grassroots campaign by its users bailed the company out. More people complained that Congress might kill Pandora, than about the Iraq War.</p> <p>Pandora has had its ups and downs as a publicly traded company. But to even get to that place took more conviction than I&rsquo;ve seen most entrepreneurs have in nearly 20 years of covering tech.</p> <p>Back in 2014, I sat down in Vegas with Tim Westergren and Tom Conrad&nbsp;for a Pando Monthly interview. Here's an edited transcript in which they discuss early challenges, the tensions between streaming services and artists, the arduous battles in Congress, and offer some crucial advice to help other entrepreneurs get through tough times...</p>© PandoSarah Lacyhttps://pando.com/author/pandosarahlacy/"The line"2018-07-18T16:00:00+00:002018-07-18T21:20:56+00:00https://pando.com/2018/07/18/line/<p>This post has been a decade in the making.</p> <p>It was <a href="https://www.paulbradleycarr.com/2008/02/and-so-it-begins/">ten years ago</a> this past February that I flew in to JFK for what was intended to be a three month American adventure, traveling across the US by plane train and automobile and trying to blag my way into luxury hotels. If you've read <a href="https://www.amazon.com/Upgrade-Paul-Carr/dp/0297859293">The Upgrade</a>, you'll know what happened next: I <a href="https://www.theguardian.com/technology/2009/jan/21/not-safe-for-work-obama">fell in love</a> with the country and decided to make it my home.</p> <p>Ten years ago.</p> <p>Earlier this afternoon, in the San Francisco mailbox I share with my girlfriend, her two children and our three cats, I found an envelope from the United States Customs and Immigration Service. Inside that envelope was this...</p>© PandoPaul Bradley Carrhttps://pando.com/author/paulbcarr/Dara Khosrowshahi: A massive void where Uber's values should be2018-07-17T16:00:00+00:002018-07-17T18:02:32+00:00https://pando.com/2018/07/17/dara-khosrowshahi-massive-void-where-ubers-values-should-be/<p>Last week while I was traveling in Seattle, I stopped off at Geek Wire&rsquo;s offices to appear on their (excellent) <a href="https://www.geekwire.com/2018/week-geek-chairman-mom-fights-online-abuse-lime-teams-uber-335m/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">weekly podcast.</a></p> <p>One of the many things we talked about was whether or not <a href="/2017/08/29/money-has-karma-tech-worlds-standing-ovation-dara-khosrowshahi-premature/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">Uber&rsquo;s would-be savior </a>Dara Khosrowshahi is changing the culture at Uber.</p> <p>Khosrowshahi has a great reputation in Seattle, where his former company Expedia is based. There&rsquo;s a real sense there of, well, Expedia didn&rsquo;t have this culture, so clearly&nbsp;Khosrowshahi can&rsquo;t be cut from the same cloth as Travis Kalanick, right?</p> <p>I&rsquo;m hard pressed to think of any company aside from Uber that has so abdicated the benefit of the doubt but keeps getting it nonetheless.</p> <p>A few things...</p>© PandoSarah Lacyhttps://pando.com/author/pandosarahlacy/Leslie Feinzaig’s Army of Women2018-07-09T16:00:00+00:002018-07-09T23:49:56+00:00https://pando.com/2018/07/09/leslie-feinzaigs-army-women/<p>Leslie Feinzaig went after the American dream.</p> <p>She left her home in Costa Rica to attend such prestigious schools as the London School of Economics and Harvard Business School. She moved to Seattle after getting her MBA to for senior roles at Microsoft, and other startups, before starting her own company, Venture Kits in 2016.</p> <p>She was used to being an in-demand executive people were trying to poach and like so many women didn&rsquo;t really get hit with sexism until she became a new mom and an entrepreneur. She was shocked by some of the comments she got while raising money for Venture Kits, the suggestions that she was really just a stay at home mom, not a real entrepreneur. <em>A momtrepreneur.</em>&nbsp;</p> <p>Like so many other female founders, those stats-- that just 3% of venture backed companies have female CEOs-- became real at that moment.</p> <p>Since then, Feinzaig has fought to make life easier for other women building high growth companies in the Pacific Northwest. <a href="https://www.femalefounders.org/" target="_blank" rel="nofollow noopener"><u>Female Founders Alliance</u> </a>was started as a hobby, but is now a surging network of women who help each other solve tactical problems, like how to pitch investors or how to get press.</p> <p>I got to know Feinzaig recently, because I&rsquo;m headed to Seattle for several book/Chairman Mom promotional events, and several women have told me about what she&rsquo;s pulled together. She was my guest on this week&rsquo;s &ldquo;A Uterus Is A Feature Not A Bug&rdquo; podcast, where we talk about raising money as a new mom, what separates meaningful women&rsquo;s networking groups from the rest, and her career-long effort of beating the odds.</p> <p>If you live in Seattle, <a href="https://www.eventbrite.com/e/female-founders-alliance-presents-a-fireside-chat-with-ceo-founder-of-chairman-mom-pando-media-tickets-47366488442" target="_blank" rel="nofollow noopener"><u>check out this event</u> </a>we&rsquo;re doing <em>this Wednesday </em>with Feinzaig and her army of badass women.</p> <p><iframe style="border: none;" src="//html5-player.libsyn.com/embed/episode/id/6759524/height/360/width/640/theme/legacy/autonext/no/thumbnail/yes/autoplay/no/preload/no/no_addthis/no/direction/backward/" width="640" height="360" scrolling="no" allowfullscreen="allowfullscreen"></iframe></p>© PandoSarah Lacyhttps://pando.com/author/pandosarahlacy/Xiaomi's IPO takes a humbling blow, and that's not good for Chinese IPOs2018-07-03T16:00:00+00:002018-07-03T19:14:34+00:00https://pando.com/2018/07/03/xiaomis-ipo-takes-humbling-blow-and-s-not-good-chinese-ipos/<p>&ldquo;We must curb the&nbsp;<a href="http://www.scmp.com/tech/article/2140644/xiaomi-ceos-rather-counter-intuitive-success-formula-dont-be">tendency for greed</a>,&rdquo; Xiaomi CEO Lei Jun told the South China Morning Post in April.</p> <p>Which may explain the humbling of Xiaomi's long-awaited IPO. In May, Xiaomi filed for an IPO on the Hong Kong Stock Exchange, hoping to raise as much as $10 billion. That would have made it the largest IPO since Alibaba raised $22 billion in September 2014.</p> <p>Instead, Xiaomi raised $4.7 billion in an IPO that the&nbsp;<em>Wall Street Journal&nbsp;</em>dissed as &ldquo;<a href="https://www.wsj.com/articles/xiaomis-deflated-ipo-offers-some-hard-truths-1530264669">hapless</a>.&rdquo; The amount could rise if underwriters sell an overallotment of shares set aside for the offering. At $4.7 billion, Xiaomi's offering won't even rank in the 10 largest global IPOs since Alibaba went public...</p>© PandoKevin Kelleherhttps://pando.com/author/kpkelleher/" ["raw"]=> string(18540) "HTTP/1.1 200 OK Date: Fri, 21 Sep 2018 08:31:31 GMT Content-Type: application/atom+xml; charset=utf-8 Transfer-Encoding: chunked Connection: close Set-Cookie: __cfduid=d5438f065b511737e93efd610bab1327f1537518690; expires=Sat, 21-Sep-19 08:31:30 GMT; path=/; domain=.pando.com; HttpOnly X-Frame-Options: SAMEORIGIN X-Content-Type-Options: nosniff Strict-Transport-Security: max-age=31536000; includeSubDomains X-Xss-Protection: 1; mode=block Last-Modified: Tue, 11 Sep 2018 17:20:36 GMT Via: 1.1 vegur Expect-CT: max-age=604800, report-uri="https://report-uri.cloudflare.com/cdn-cgi/beacon/expect-ct" Server: cloudflare CF-RAY: 45db2d08df4c3994-PHX Pando latest articleshttps://pando.com/2018-09-11T17:20:36+00:00Speaking truth to the new power.© PandoWill 2018 be the rebound in tech IPOs that has been promised for years?2018-09-11T16:00:00+00:002018-09-11T17:20:36+00:00https://pando.com/2018/09/11/will-2018-be-rebound-tech-ipos-has-been-promised-years/<p>2018 just may be the rebound in tech IPOs that has been promised for years.&nbsp;</p> <p>According to Dealogic, 120 companies have staged IPOs in the first half of 2018, raising an aggregate of of $35 billion. It's the best first half for U.S. IPOs since 2014 and one of the busiest periods in the 24 years that Dealogic has been tracking IPO data. (That 120 figure doesn't include Spotify, which&nbsp;<a href="/2018/01/09/its-time-replace-unicorn-symbol-billion-dollar-startups-i-have-suggestion/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">skirted the IPO process</a>for a direct listing.)</p> <p>That's not all. Last week, as the sleepy summer season for IPOs drew to an end, Renaissance Capital published its fall&nbsp;<a href="https://www.renaissancecapital.com/review/US_Fall_Preview_2018_Public.pdf" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">IPO preview</a>&ndash; the underwriting world's equivalent of a seasonal fashion show &ndash; that argued that the already strong IPO class of 2018 was &ldquo;primed for a big finish.&rdquo; Here's why...</p>© PandoKevin Kelleherhttps://pando.com/author/kpkelleher/Best of Pando Monthly: Fred Wilson talks timing, luck, and the dangers of corporate venture capital2018-08-31T16:00:00+00:002018-08-31T18:34:10+00:00https://pando.com/2018/08/31/best-pando-monthly-fred-wilson-talks-timing-luck-and-dangers-corporate-venture-capital/<p>It's time for the latest installment in our series looking back at the best of Pando Monthly.</p> <p>In twenty years of covering the startup industry, this may be a first: A top VC advises people don&rsquo;t follow in his footsteps. Specifically, in this extract from our Pando Monthly interview from 2013, Union Square Ventures Fred Wilson talks about his route to venture capital and how he succeeded by timing, luck, and taking longer to learn parts of the business than he may have if he&rsquo;d had operating experiences.</p> <p>He also talks about the ascendancy of the New York ecosystem, as a man with one of the most valuable front row seats. We talked about the ups and downs of several of his largest investments, including Twitter, Tumblr, Foursquare and Zynga, and he addresses the dangers of a lot of corporate venture capital groups&hellip; and putting too much time in building hype...</p>© PandoSarah Lacyhttps://pando.com/author/pandosarahlacy/Facebook is closer to being another Yahoo than another Amazon2018-08-09T16:00:00+00:002018-08-09T18:22:56+00:00https://pando.com/2018/08/09/facebook-closer-being-another-yahoo-another-amazon/<p>Something big is happening in social media, and investors in social-media companies can't make up their minds what it is.</p> <p>Facebook's daily active users rose 2% from the previous quarter. Its revenue rose 43% year over year. Its stock fell 20% on its earnings report.</p> <p>Twitter's DAU is up (we think - the company still won't give actual figures). Its revenue rose 24% year over year. Its stock fell 21% on its earnings report.</p> <p>Snap's DAU was down 2%. Its revenue rose 44%. Its stock fell 7% on its earnings report.</p> <p>Coming into these figures blind, one might conclude that the audiences of these social networks have all saturated. That something must be wrong if investors are kicking companies with revenue growth above 20%. And that Snap, like Jake Gittes, is the&nbsp;<a href="https://www.youtube.com/watch?v=py6IpUx4eWs" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">leper with the most fingers</a>&nbsp;in this town...</p>© PandoKevin Kelleherhttps://pando.com/author/kpkelleher/Sonos' IPO: A first day pop, but can it fight off Apple, Amazon et al and win for the long term?2018-08-03T16:00:00+00:002018-08-03T20:47:32+00:00https://pando.com/2018/08/03/sonos-ipo-first-day-pop-can-it-fight-apple-amazon-et-al-and-win-long-term/<p>When Sonos was founded in Santa Barbara, Calif., in 2002, the world of the audiophile was very different.</p> <p>Napster, that early digital death knell of packaged music, had just shut down. The iPod was about a year old and Apple had sold only around 600,000 of the pocket music players. Spotify, Pandora, even iTunes didn't even exist.&nbsp;</p> <p>And if you wanted to dig into a deep library of music to play on a high-quality system, you had your work cut out for you. Big-box speakers connected to consoles with a tangle of cables, towers of CDs arranged in meticulous order to find the right album quickly. And if you wanted sound in more than one room, you might need a PhD...</p>© PandoKevin Kelleherhttps://pando.com/author/kpkelleher/The problem with the bull case of “Facebook’s figured slowing growth out before”2018-07-30T16:00:00+00:002018-07-30T20:28:22+00:00https://pando.com/2018/07/30/problem-bull-case-facebooks-figured-slowing-growth-out/<p>The bigger they get, the further they can fall.</p> <p>Last week the media and Wall Street and Silicon Valley were all agog watching Facebook stumble&hellip; in fact, that&rsquo;s the wrong verb. After revenue and user growth missed estimates, Facebook lost 20% of its market value-- a record making $120 billion rout.</p> <p>When you&rsquo;ve got no skin in the game, it&rsquo;s entertaining to watch the reactions to such an event.</p> <p>Since Facebook went public, a group of investors have seized on any weakness to insist Mark Zuckerberg has too much power at the company...</p>© PandoSarah Lacyhttps://pando.com/author/pandosarahlacy/Westergren and Conrad: "We were like the guy walking around the casino with just their underwear"2018-07-26T16:00:00+00:002018-07-26T16:19:48+00:00https://pando.com/2018/07/26/westergren-and-conrad-we-were-guy-walking-around-casino-just-their-underwear/<p class="dropcap">Pandora was never the darling of Silicon Valley. Ever.</p> <p class="dropcap">It never had the hype of Spotify, the scale &nbsp;of a hot social app, or the vision of Netflix. And yet, what it has always had is a leadership team that would not quit and a passionate user base who wouldn&rsquo;t quit on the product either.</p> <p>You hear a lot about the great entrepreneurs not giving up&hellip; but you hear less about founders pitching 348 investors before they got a yes, less about founding teams who went years without pay, less about founders who personally racked up half a million in debt trying to stay afloat. It took three acts of Congress to save Pandora at one point&hellip; and that was when a grassroots campaign by its users bailed the company out. More people complained that Congress might kill Pandora, than about the Iraq War.</p> <p>Pandora has had its ups and downs as a publicly traded company. But to even get to that place took more conviction than I&rsquo;ve seen most entrepreneurs have in nearly 20 years of covering tech.</p> <p>Back in 2014, I sat down in Vegas with Tim Westergren and Tom Conrad&nbsp;for a Pando Monthly interview. Here's an edited transcript in which they discuss early challenges, the tensions between streaming services and artists, the arduous battles in Congress, and offer some crucial advice to help other entrepreneurs get through tough times...</p>© PandoSarah Lacyhttps://pando.com/author/pandosarahlacy/"The line"2018-07-18T16:00:00+00:002018-07-18T21:20:56+00:00https://pando.com/2018/07/18/line/<p>This post has been a decade in the making.</p> <p>It was <a href="https://www.paulbradleycarr.com/2008/02/and-so-it-begins/">ten years ago</a> this past February that I flew in to JFK for what was intended to be a three month American adventure, traveling across the US by plane train and automobile and trying to blag my way into luxury hotels. If you've read <a href="https://www.amazon.com/Upgrade-Paul-Carr/dp/0297859293">The Upgrade</a>, you'll know what happened next: I <a href="https://www.theguardian.com/technology/2009/jan/21/not-safe-for-work-obama">fell in love</a> with the country and decided to make it my home.</p> <p>Ten years ago.</p> <p>Earlier this afternoon, in the San Francisco mailbox I share with my girlfriend, her two children and our three cats, I found an envelope from the United States Customs and Immigration Service. Inside that envelope was this...</p>© PandoPaul Bradley Carrhttps://pando.com/author/paulbcarr/Dara Khosrowshahi: A massive void where Uber's values should be2018-07-17T16:00:00+00:002018-07-17T18:02:32+00:00https://pando.com/2018/07/17/dara-khosrowshahi-massive-void-where-ubers-values-should-be/<p>Last week while I was traveling in Seattle, I stopped off at Geek Wire&rsquo;s offices to appear on their (excellent) <a href="https://www.geekwire.com/2018/week-geek-chairman-mom-fights-online-abuse-lime-teams-uber-335m/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">weekly podcast.</a></p> <p>One of the many things we talked about was whether or not <a href="/2017/08/29/money-has-karma-tech-worlds-standing-ovation-dara-khosrowshahi-premature/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">Uber&rsquo;s would-be savior </a>Dara Khosrowshahi is changing the culture at Uber.</p> <p>Khosrowshahi has a great reputation in Seattle, where his former company Expedia is based. There&rsquo;s a real sense there of, well, Expedia didn&rsquo;t have this culture, so clearly&nbsp;Khosrowshahi can&rsquo;t be cut from the same cloth as Travis Kalanick, right?</p> <p>I&rsquo;m hard pressed to think of any company aside from Uber that has so abdicated the benefit of the doubt but keeps getting it nonetheless.</p> <p>A few things...</p>© PandoSarah Lacyhttps://pando.com/author/pandosarahlacy/Leslie Feinzaig’s Army of Women2018-07-09T16:00:00+00:002018-07-09T23:49:56+00:00https://pando.com/2018/07/09/leslie-feinzaigs-army-women/<p>Leslie Feinzaig went after the American dream.</p> <p>She left her home in Costa Rica to attend such prestigious schools as the London School of Economics and Harvard Business School. She moved to Seattle after getting her MBA to for senior roles at Microsoft, and other startups, before starting her own company, Venture Kits in 2016.</p> <p>She was used to being an in-demand executive people were trying to poach and like so many women didn&rsquo;t really get hit with sexism until she became a new mom and an entrepreneur. She was shocked by some of the comments she got while raising money for Venture Kits, the suggestions that she was really just a stay at home mom, not a real entrepreneur. <em>A momtrepreneur.</em>&nbsp;</p> <p>Like so many other female founders, those stats-- that just 3% of venture backed companies have female CEOs-- became real at that moment.</p> <p>Since then, Feinzaig has fought to make life easier for other women building high growth companies in the Pacific Northwest. <a href="https://www.femalefounders.org/" target="_blank" rel="nofollow noopener"><u>Female Founders Alliance</u> </a>was started as a hobby, but is now a surging network of women who help each other solve tactical problems, like how to pitch investors or how to get press.</p> <p>I got to know Feinzaig recently, because I&rsquo;m headed to Seattle for several book/Chairman Mom promotional events, and several women have told me about what she&rsquo;s pulled together. She was my guest on this week&rsquo;s &ldquo;A Uterus Is A Feature Not A Bug&rdquo; podcast, where we talk about raising money as a new mom, what separates meaningful women&rsquo;s networking groups from the rest, and her career-long effort of beating the odds.</p> <p>If you live in Seattle, <a href="https://www.eventbrite.com/e/female-founders-alliance-presents-a-fireside-chat-with-ceo-founder-of-chairman-mom-pando-media-tickets-47366488442" target="_blank" rel="nofollow noopener"><u>check out this event</u> </a>we&rsquo;re doing <em>this Wednesday </em>with Feinzaig and her army of badass women.</p> <p><iframe style="border: none;" src="//html5-player.libsyn.com/embed/episode/id/6759524/height/360/width/640/theme/legacy/autonext/no/thumbnail/yes/autoplay/no/preload/no/no_addthis/no/direction/backward/" width="640" height="360" scrolling="no" allowfullscreen="allowfullscreen"></iframe></p>© PandoSarah Lacyhttps://pando.com/author/pandosarahlacy/Xiaomi's IPO takes a humbling blow, and that's not good for Chinese IPOs2018-07-03T16:00:00+00:002018-07-03T19:14:34+00:00https://pando.com/2018/07/03/xiaomis-ipo-takes-humbling-blow-and-s-not-good-chinese-ipos/<p>&ldquo;We must curb the&nbsp;<a href="http://www.scmp.com/tech/article/2140644/xiaomi-ceos-rather-counter-intuitive-success-formula-dont-be">tendency for greed</a>,&rdquo; Xiaomi CEO Lei Jun told the South China Morning Post in April.</p> <p>Which may explain the humbling of Xiaomi's long-awaited IPO. In May, Xiaomi filed for an IPO on the Hong Kong Stock Exchange, hoping to raise as much as $10 billion. That would have made it the largest IPO since Alibaba raised $22 billion in September 2014.</p> <p>Instead, Xiaomi raised $4.7 billion in an IPO that the&nbsp;<em>Wall Street Journal&nbsp;</em>dissed as &ldquo;<a href="https://www.wsj.com/articles/xiaomis-deflated-ipo-offers-some-hard-truths-1530264669">hapless</a>.&rdquo; The amount could rise if underwriters sell an overallotment of shares set aside for the offering. At $4.7 billion, Xiaomi's offering won't even rank in the 10 largest global IPOs since Alibaba went public...</p>© PandoKevin Kelleherhttps://pando.com/author/kpkelleher/" ["headers"]=> object(Requests_Response_Headers)#52188 (1) { ["data":protected]=> array(12) { ["date"]=> array(1) { [0]=> string(29) "Fri, 21 Sep 2018 08:31:31 GMT" } ["content-type"]=> array(1) { [0]=> string(35) "application/atom+xml; charset=utf-8" } ["set-cookie"]=> array(1) { [0]=> string(126) "__cfduid=d5438f065b511737e93efd610bab1327f1537518690; expires=Sat, 21-Sep-19 08:31:30 GMT; path=/; domain=.pando.com; HttpOnly" } ["x-frame-options"]=> array(1) { [0]=> string(10) "SAMEORIGIN" } ["x-content-type-options"]=> array(1) { [0]=> string(7) "nosniff" } ["strict-transport-security"]=> array(1) { [0]=> string(35) "max-age=31536000; includeSubDomains" } ["x-xss-protection"]=> array(1) { [0]=> string(13) "1; mode=block" } ["last-modified"]=> array(1) { [0]=> string(29) "Tue, 11 Sep 2018 17:20:36 GMT" } ["via"]=> array(1) { [0]=> string(9) "1.1 vegur" } ["expect-ct"]=> array(1) { [0]=> string(87) "max-age=604800, report-uri="https://report-uri.cloudflare.com/cdn-cgi/beacon/expect-ct"" } ["server"]=> array(1) { [0]=> string(10) "cloudflare" } ["cf-ray"]=> array(1) { [0]=> string(20) "45db2d08df4c3994-PHX" } } } ["status_code"]=> int(200) ["protocol_version"]=> float(1.1) ["success"]=> bool(true) ["redirects"]=> int(0) ["url"]=> string(23) "https://pando.com/feed/" ["history"]=> array(0) { } ["cookies"]=> object(Requests_Cookie_Jar)#52185 (1) { ["cookies":protected]=> array(1) { ["__cfduid"]=> object(Requests_Cookie)#52192 (5) { ["name"]=> string(8) "__cfduid" ["value"]=> string(43) "d5438f065b511737e93efd610bab1327f1537518690" ["attributes"]=> object(Requests_Utility_CaseInsensitiveDictionary)#52191 (1) { ["data":protected]=> array(4) { ["expires"]=> int(1569054690) ["path"]=> string(1) "/" ["domain"]=> string(9) "pando.com" ["httponly"]=> bool(true) } } ["flags"]=> array(4) { ["creation"]=> int(1537518691) ["last-access"]=> int(1537518691) ["persistent"]=> bool(false) ["host-only"]=> bool(false) } ["reference_time"]=> int(1537518691) } } } } ["filename":protected]=> NULL ["data"]=> NULL ["headers"]=> NULL ["status"]=> NULL } }