Season 2, Episode 3: Nest

Acquired brings it all back home—to the smart home that is—with Google’s 2014 acquisition of Nest for $3.2B. From Nest cofounder Tony Fadell’s first job at General Magic (alongside future Android founder Andy Rubin) to his days as “father of the iPod” under Steve Jobs at Apple, the Silicon Valley history runs deep with this one. But did that make the acquisition a good move for Google in the coming battle with Amazon’s “Lady A” for control over consumers’ homes? We dive in! 

Links:

Carve Outs:

Sponsor:

  • Thanks to Perkins Coie, Counsel to Great Companies, for sponsoring Acquired Season 2. You can get in touch with Gina Eiben, who you heard at the beginning of this podcast, here.

Season 2, Episode 2: Raising a Seed Round with Against Gravity CEO Nick Fajt

We launch mini-series on Acquired with a subject near & dear to our heroes’ hearts: startup fundraising! This has been one of our most-requested new topics, and we’re excited to kick things off with makers of the popular Rec Room social VR app, Against Gravity, which raised one of Seattle’s hottest venture rounds in recent history: a $4m seed led by Sequoia Capital in 2016. CEO Nick Fajt joins to tell the story from company inception to building and shipping the initial product, fundraising as a first-time CEO, what they’ve been able to accomplish with the capital and their vision for the future. We had a blast touching on many classic Acquired themes for the first time “in-action” with a young, growing company, and hope you all enjoy the discussion as much as we did. Let us know what you think in the Slack!

Carve Outs:

Sponsor:

  • Thanks to Perkins Coie, Counsel to Great Companies, for sponsoring this Acquired Season 2. You can get in touch with Gina Eiben, who you heard at the beginning of this podcast, here.

Season 2, Episode 1: Zappos (with Alfred Lin)

Season 2, Episode 1: Zappos (with Alfred Lin)

Former Zappos Chairman & COO (and current Partner at Sequoia Capital) Alfred Lin joins our heroes to kick off Season 2 with a classic: Amazon’s 2009 acquisition of the internet’s quirkiest online retailer for $1.2B in stock. How did three Harvard undergrads go from delivering pizza to their dorm to delivering happiness to the world — and become in the process one of the few companies ever to compete successfully head-to-head against Amazon in commerce? Tune in to find out! 

Note: Unfortunately the quality of David and Alfred’s audio tracks in this episode were significantly impacted by a processor issue on David’s computer, which we didn’t discover until after recording. We’ve worked hard to fix in post-production, but it’s still far from perfect. Still, the content from Alfred is so good, we felt we had to put this episode out there even though the audio quality isn’t up to par. We hope you’ll give it a listen regardless, and we’re working on getting a transcript made ASAP as well. 

-Ben & David

Carve Outs:

Sponsor:

  • Thanks to Perkins Coie, Counsel to Great Companies, for sponsoring this podcast. You can get in touch with Jason Day, who you heard at the beginning of this podcast, here.

Full Transcript below: (disclaimer: may contain unintentionally confusing, inaccurate and/or amusing transcription errors)

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Episode 51: 2017 Holiday Special

Acquired cozies up to the fire and looks back on the year in tech. How wildly off were we on last year’s predictions? What does the next year have in store? Most importantly, what price will Bitcoin be trading at in December 2018??? Pour yourself a glass of your favorite holiday beverage and kick back with us.

SF Acquired Meetup!

  • Mark your calendars: we’ll be hosting an Acquired Meetup in SF the evening of January 18, 2018. More details coming soon—check Slack or Acquired.fm

Links

2017 Carve Outs of the Year:

Sponsor:

  • Thanks to Perkins Coie, Counsel to Great Companies, for sponsoring this podcast. You can get in touch with Jason Day, who you heard at the beginning of this podcast, here.

Episode 50: Apple - Beats

Acquired crosses the half-century mark with an instant classic: Apple’s 2014 purchase of Beats, its largest acquisition ever. If you knew Beats as just another headphone company, think again—the history on this one will keep your heads ringin’.

SF Acquired Meetup!

  • Mark your calendars: we’ll be hosting an Acquired Meetup in SF the evening of January 18, 2018. More details to come soon. 

Carve Outs:

Sponsor:

  • Thanks to Perkins Coie, Counsel to Great Companies, for sponsoring this podcast. You can get in touch with Nick Ferrer, who you heard at the beginning of this podcast, here.

Episode 49: The Stitch Fix IPO

Ben and David dive into the most talked-about tech IPO of 4Q 2017: Stitch Fix. After downsizing the offering and pricing below the range, does this signal a warning that public markets won’t value high-flying silicon valley “disruptors” as high as VCs hope? Or is this a textbook example of a great return for a disciplined management team and well-run company? Most importantly, what happens next? Tune in for our heroes’ take. 

Carve Outs:

Sponsor:

  • Thanks to Perkins Coie, Counsel to Great Companies, for sponsoring this podcast. You can get in touch with Jason Day, who you heard at the beginning of this podcast, here.

Episode 48: Qualcomm - Broadcom

Ben & David cover the proposed largest tech M&A deal of all time, and in the process dive into the evolving dynamics of the industry that started everything in Silicon Valley—silicon. Just when VCs thought innovation was dead in semiconductors, a new wave of startups and large companies are redrawing the lines of competition in an industry dominated for a half-century by the “Wintel” duopoly of Intel and Microsoft.

Topics Covered Include:

The Carve Out:

Sponsor:

  • Thanks to Perkins Coie, Counsel to Great Companies, for sponsoring this podcast. You can get in touch with Nick Ferrer, who you heard at the beginning of this podcast, here.

Episode 47: The Atlassian IPO

Ben & David venture to the land down under (and reunite in-person!) to tell the story of the granddaddy of all bootstrapped tech success stories, collaboration software company Atlassian. How did two plucky college grads from Sydney, Australia go from just trying to escape working for the man to becoming two of the top 10 wealthiest people in the entire country, all without raising a dollar of venture capital? We dive in. 

Topics Covered Include:

  • How Atlassian founders Mike Cannon-Brookes and Scott Farquhar met in college at the University of New South Wales in Sydney, Australia, and their decision to bootstrap a startup as an alternative to finding a “real job” after graduation
  • Atlassian’s “no sales” model, and the resultant efficiency of their sales & marketing spend relative to other SAAS companies 
  • Organic product growth and acquisitions over the years, starting with Jira and later adding Confluence, BitBucket, HipChat / Stride, Jira Service Desk and Trello
  • Rapid revenue growth and the decision to continue as a bootstrapped company, only raising secondary capital prior to going public
  • The IPO in November 2015 and subsequent stock performance (spoiler: it’s been good)

The Carve Out:

Sponsor:

  • Thanks to Perkins Coie, Counsel to Great Companies, for sponsoring this podcast. You can get in touch with Jason Day, who you heard at the beginning of this podcast, here.

Episode 46: Blue Bottle Coffee

Episode 46: Blue Bottle Coffee

Today our heroes cover a deal that might have more impact on life in Silicon Valley than AI, wearables and AR/VR combined… Nestle’s acquisition of Blue Bottle Coffee. Will hipster entrepreneurs and the VCs who love/need them continue to line up around the block for their minimalist coffee experience of choice, now that it’s owned by the Nesquik Bunny? Is this the beginning of Blue Bottle pod machines filling the empty counter space left by Juicero’s demise in VC offices throughout South Park? We investigate. 

Topics Covered Include:

  • The rise of “Third Wave” coffee

  • Blue Bottle founder James Freeman’s “classical” (music) influences 

  • Venture capital and the coffee business 

  • Achieving liquidity when companies and founders’ don’t want to go public, and don’t want to sell their stakes 

  • Nestle’s position in single-serve coffee market and potential brand impact of Blue Bottle

The Carve Out:

Sponsor:

  • Thanks to Perkins Coie, Counsel to Great Companies, for sponsoring this podcast. You can get in touch with Jeff Beuche, who you heard at the beginning of this podcast, here.

Full Transcript below: (disclaimer: may contain unintentionally confusing, inaccurate and/or amusing transcription errors)

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