1 米米米米米米米米米米米米米米米米米米米米米米米米米米米米米米米米? GCA 米米米米米米米米米
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米国のスタートアップはどうやってグローバルスタンダードになるのか?
GCAサヴィアン株式会社
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Do you know who they are?
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Do you know who they are?
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GCAサヴィアンについて
シリコンバレーという巨大なR&Dセンターの役割について
事例:カオスマップは、なぜ「カオス」になったのか、今後どうなるのか
5
GCAサヴィアンについて
M&A Advisor of the Year
“Thomson Financial has selected GCA Savvian Group
Corp. as the best mergers and acquisitions adviser in
Japan for fiscal 2007.”
Deal of the Year
“…if the criteria include vision, ambition, pioneering
methodology, a certain degree of bravado and the
quality of embodying a larger success story, GCA’s
acquisition of Savvian is certainly one of the deals of
the year.”
“GCA, a Japanese mergers and acquisitions advisory firm will merge with Savvian through a share swap valued at about $780 million. The deal is the first triangular merger by a Japanese company using its own shares to finance the
acquisition since triangular mergers were deregulated in
Japan last year.”
“GCA and Savvian are hoping to benefit from a rise in acquisitions of foreign
companies . . . (the deal) highlights a trend that has
developed in the past several years: more Japanese companies are buying
companies overseas to spur their growth.”
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GCAサヴィアンについて
Preferred Stock
Financial Advisor
Preferred Stock
Financial Advisor
Acquired byAcquired by
We Advised the Seller
Acquired by Acquired by Sale of Subscription Music Service
Acquisition of1UP Digital
NetworkAcquired by
Preferred Stock
Financial Advisor
Sold Stake In
To
We Advised the Seller
We Advised the Seller
We Advised the Seller
We Advised the Seller
We Advised the Seller
We Advised the Buyer
We Advised the Buyer
We Advised the Seller
Secondary Sale
We Advised the Founders
Acquired by
We Advised the Seller
$400MM
$493MM $29MM $50MM
$21MM
Acquired bySale of Business Unit
Six Apart KK to
We Advised the Seller
$70MM
Undisclosed Undisclosed Undisclosed
Undisclosed
Undisclosed Undisclosed Undisclosed Undisclosed Undisclosed
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GCAサヴィアンについて
シリコンバレーという巨大なR&Dセンターの役割について
事例:カオスマップは、なぜ「カオス」になったのか、今後どうなるのか
8
シリコンバレーという巨大な R&Dセンターの役割について
• オリンピック会場
• 野生の王国
• 潤沢な投資資金
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オリンピック会場
Do you know where they come from?
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オリンピック会場
Do you know where they come from?
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野生の王国
Large Capitalized
Industry Leaders
Growth Compani
es
Acquire
Sell
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潤沢な投資資金
$114 $123 $114 $114 $141 $137 $133 $139Average Transaction Size ($MM)
$51
$81 $86
$100
$126
$142 $136
$159
452
654 759
871 897
1,031 1,026
1,140
0
200
400
600
800
1,000
1,200
$0
$40
$80
$120
$160
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2009 2010 2011
Nu
mb
er
of
Tra
ns
ac
tio
ns
Tra
ns
ac
tio
n V
olu
me
($B
n)
米国でのM&A案件数及び金額( $10MM - $1.0Bn)
Notes:(1) Source: FactSet as of 7/8/11; Includes global announced acquisitions in the specified range of transaction sizes across all industries; excludes minority investments, JVs etc.
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潤沢な投資資金
$4,360
$1,553
$2,878
$2,240
$1,697
$2,691 53
80
58
90
72
64
0
20
40
60
80
100
$0
$1,000
$2,000
$3,000
$4,000
$5,000
Jan '11 Feb '11 Mar '11 Apr '11 May '11 Jun '11
Num
ber of TransactionsA
mou
nt R
aise
d ($
MM
)
米国での資金調達案件数及び金額
Notes:Source: Venturewire, only includes transactions greater than $10MM.
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潤沢な投資資金
29.1%
27.0%
17.5%
11.0%
4.7%
3.1%
2.9% 1.6%
3.1%
Internet / Digital Media Healthcare Software & Services
Alternative Energy Communications Semiconductors
Hardware Consumer Other
セクター別案件数比率
Notes:Source: Venturewire, only includes transactions greater than $10MM.
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GCAサヴィアンについて
シリコンバレーという巨大なR&Dセンターの役割について
事例:カオスマップは、なぜ「カオス」になったのか、 今後どうなるのか
16
事例:カオスマップは、なぜ「カオス」になったのか、今後どうなるのか
17
事例:カオスマップは、なぜ「カオス」になったのか、今後どうなるのか
Notes:(1) Gross revenue estimates.(2) Net revenue estimates.(3) Public company filings and net revenue estimates.(4) Forrester research and net revenue estimates.
DSPs
Ad Exchang
es
Creative Optimizati
on
Retargeting
Verification
Data Suppliers
DMPs and Data
Aggregators
Media Planning and Attribution
Measurement and Analytics
$200 - $600 MM
$700 MM - $1 Bn
$700 - $900 MM
$50 - $75 MM
$2.5- $2.8 Bn
$100 - $200 MM
$20 - $50 MM
$100 - $200 MM
$20 - $50 MM
(1)
(1)
(1) (4)
(2)
(2)
(2)
(3)
(1)
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Targeted
Video / Rich Media
Horizontal
Yield Optimizati
on
Ad Networks
Vertical
Performance
Mobile
PUBLISHERS
Data Exchanges
/ Aggregato
rs
Creative Optimizati
on
Data Optimizati
on
AUDIENCE
ADVERTISERS
Ad Exchang
es
DSPs
Media Buying
Platforms
Agencies
Publisher Tools
Data Suppliers
Ad Ops / Infrastructure
Ad Servers
Ad Servers
Verification /
Attribution
Sharing Data / Social Tools
Analytics
事例:カオスマップは、なぜ「カオス」になったのか、今後どうなるのか
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事例:カオスマップは、なぜ「カオス」になったのか、今後どうなるのか
Marketing
Network / Data
Technology
Agency
Ad Networks
Targets
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結び
シリコンバレーという「ムラ社会」のインサイダーになるためには?