Pulse2 Technology and Social Media News » JPMorgan

AVG Files For Proposed IPO

Amit Chowdhry — Sun, 15 Jan 2012 00:33:23 +0000

AVG, the software company that was founded in 1991 and is known for their anti-virus software, has announced that they have filed a Registration Statement on Form F-1 with the U.S. SEC in connection with a proposed IPO of their ordinary shares. AVG will sell on the New York Stock Exchange with the symbol “AVG.” Morgan Stanley, JP Morgan, and Goldman Sachs will be running the books on the IPO. Co-managers for the IPO include Allen & Company and JMP Securities.

Groupon Hires Goldman Sachs and Morgan Stanley As Lead Underwriters For IPO

Amit Chowdhry — Fri, 15 Apr 2011 07:44:53 +0000

Groupon Inc. has hired Goldman Sachs and Morgan Stanley as the lead underwriters for an IPO that they are planning for later this year according to sources with The Wall Street Journal. Groupon is expected to be valued at between $15 and $20 billion when the company goes IPO. JP Morgan Chase & Co. is expected to be a co-manager for the IPO according to the same sources.

The IPO is planned for the second half of 2011. Groupon was founded in 2008. They turn down a $6 billion offer from Google last year and raised $950 million in funding immediately after. Groupon employs 6,000 people across the globe. Groupon promotes deals for local venues through daily e-mails and they collect 50% of every sale.

[WSJ]

AVG Receives $235 Million As Part of Financing Deal

Amit Chowdhry — Tue, 22 Mar 2011 04:40:51 +0000

AVG Technologies has entered a credit agreement with JP Morgan and Morgan Stanley. The company has secured a five-year term loan for $235 million in their first capital markets transaction. AVG said that the financing will give them resources to realize strategic growth opportunities. AVG was founded in 1991 and their anti-virus software is used by over 110 million consumers and small businesses. [TechCrunch]

HomeAway.com In Talks For A $300 Million IPO

Amit Chowdhry — Mon, 21 Feb 2011 01:22:53 +0000

HomeAway.com is in talks with several banks about a $300 million IPO according to BusinessWeek sources. The banks that HomeAway is talking to include Morgan Stanley, Deutsche Bank AG, JPMorgan Chase & Co., and Goldman Sachs.

HomeAway was founded in 2005 and raised $500 million in private funding from Austin Ventures, Redpoint Ventures, Technology Crossover Ventures, and Institutional Venture Partners (IVP).

HomeAway is a website where you can rent houses, apartments, condos, etc. for vacations on a nightly or weekly basis. HomeAway currently has about 540,000 rental listings across 120 countries. Homeowners pay an annual fee of about $300 to post their properties.

[BusinessWeek]

JPMorgan May Let Employees Use iPhone For Corporate E-Mail

Amit Chowdhry — Sun, 12 Sep 2010 14:28:36 +0000

JPMorgan Chase & Co. (NYSE:JPM) may soon start letting employees use the iPhone for corporate e-mail instead of BlackBerry devices manufactured by Research In Motion. According to a source with Bloomberg, JPMorgan is testing the iPhone device and smartphones that run on Android. JPMorgan has about 220,000 employees across the globe.

UBS AG, the biggest bank in Switzerland may also allow staff to use iPhones for corporate e-mail. UBS has about 63,000 employees.

The primary concern that these employers had before was security. JPMorgan is testing for security in batches of a few hundred iPhone devices. A decision is expected to be made later this year.

[Bloomberg]

Facebook and JP Morgan Chase Team Up On Charity Initiative

Amit Chowdhry — Mon, 16 Nov 2009 23:24:17 +0000

Facebook and JP Morgan Chase are partnering on a charity initiative that will allow any of the 300 million Facebook users to donate across 500,000 local charities.

Facebook users vote for a charity of their choice and the number one choice will receive $1 million. The five runner ups will receive $100,000 and 100 finalists will receive $25,000 each. A special advisory board will be formed that includes actress Eva Longoria, former pro basketball player David Robinson, and Do Something founder Nancy Lublin.

How Much Is AOL Worth? About $4.2 Billion According To JP Morgan.

Amit Chowdhry — Wed, 30 Sep 2009 21:47:11 +0000

JP Morgan analyst Imran Khan estimates that AOL is worth $4.2 billion. As you know, AOL is preparing to spin off from parent company Time Warner Inc. (NYSE:TWX). When Google bought a 5% stake in AOL back in 2005, the valuation of AOL was estimated to be about $5.5 billion.

To make Khan’s estimates even credible, Rich Greenfield of Pali Capital pegged AOL’s valuation to be around $4 billion also. The valuation is based on the following estimates by JP Morgan.

As AOL prepares to spin off from AOL, they have been making a few managerial changes. The company dismissed the COO and SVP earlier this month and also hired Brad Garlinghouse from Yahoo!

NewEgg.com Files For $175 Million IPO

Amit Chowdhry — Tue, 29 Sep 2009 03:28:18 +0000

NewEgg.com is an online retail company that sells electronics such as digital cameras, cell phones, and laptops. The company plans to file for an IPO and raised roughly $175 million in the process. NewEgg.com started in 2001 and made about $2.2 billion in revenues last year. Insight Venture Partners invested $20 million in NewEgg.com around 2005. Insight Venture Partners has a 12.7% stake in NewEgg.

Newegg.com Inc. is based in City of Industry, California. Newegg was founded by Fred Chang and the company is run by CEO Tally C. Liu. When NewEgg.com was founded, it was a subsidiary of ABS Computer Technologies Inc. NewEgg has about 1,500 employees. The funds raised will be used to fund operations expansion in Canada and China. The company has even been profitable since they started in 2001. The IPO is being managed by JP Morgan, Bank of America Merrill Lynch, and Citi.

Microsoft Raises $3.75 Billion By Selling Bonds To Investors

Amit Chowdhry — Thu, 14 May 2009 22:32:20 +0000

Earlier this week, Microsoft Corporation has sold $3.75 billion worth of bonds to their investors. The sale gave investors a small amount of extra yield over Treasury bonds. Microsoft has a credit rating of AAA. This was the first time that the company ever offered a long-term bond offering.

Why did Microsoft want to raise all of this extra cash? Perhaps they want to look into more acquisitions. Microsoft said that they wanted to take advantage of good market conditions and their great credit rating. On September 22, 2008 Microsoft’s board of directors authorized an offering of up to $6 billion in debt.

“Someone probably told them there is no AAA paper out there, and there’s demand for the name for diversification,” stated bond trader and co-head of structured products/emerging markets at MF Global Andrew Brenner. “It’s pretty good for long-term money.”

AAA-rated corporate debt yields are about 211 basis points about the Treasurys. JP Morgan and Morgan Stanley took the lead of the bond sale.

[via MarketWatch]

DigitalGlobe Filing For $250 Million IPO

Amit Chowdhry — Sun, 03 May 2009 16:31:39 +0000

DigitalGlobe is a Longmont, Colorado based company that sells space imagery and geospatial content. DigitalGlobe also operates a remote sensing spacecraft. The company was started in 1992 and has 350 employees. Some of their customers include Google (Google Earth, Google Maps), GeoEye, Spot Image, NASA, and the U.S. Department of Defense.

The company is planning for an IPO this month in order to raise money for building a new satellite. They were planning to go IPO last year but postponed it due to the weak economy. Morgan Stanley, Lehman Brothers, Citi, UBS Investment Bank, JPMorgan, and Jefferies will be handling the offering. Lehman will be helping despite their Chapter 11 bankruptcy protection.

Lehman has $20 million in debt owed by DigitalGlobe. After the IPO, Lehman also has the right to appoint five out of nine of DigitalGlobe’s board members due to being a large enough investor. DigitalGlobe’s WorldView-2 orbiter will cost roughly $283 million which will be fully paid for after going IPO.

GeoEye Inc. is DigitalGlobe’s biggest competitor. GeoEye is based in Dulles, Virginia and they employ about 130 people. DigitalGlobe earned about $95.8 million on $151.7 million in revenue in 2007.

DigitalGlobe will be the fifth IPO this year in the United States.

[via alarmclock/StreetInsider]