- 2015 并购和IPO趋势
- 2015 VC-BACKEDEXIT趋势
- 2015 M＆A和IPO排名表
2015 TECH EXIT ACTIVITY UP 21% VS 2014, BUT Q4’15 WAS DOWN
The year’s 3411 exits (3350 M&A deals and 61 IPOs) marked an increase over 2014, which saw 2809 exits. But the final two quarters saw declines. After climbing 13% in Q2’15, the number of exits declined by 20% in Q3’15, and by 11% in Q4’15.
MOST TECH COMPANIES ARE EXITING FOR LESS THAN $50M
Among exits with disclosed valuations, 54% of tech companies in 2015 exited for <$50M. Of those with disclosed valuations, 3% of exits
INTERNATIONAL EXITS LED BY UK
Unsurprisingly, the US led all countries in the number of exits. The United Kingdom led all non-US countries in exit activity followed by India, Canada, Germany, and France.
SV ANGEL LEADING VCs IN EXITS
SV Angel led VCs in the number of tech exits in 2015. The other VCs ranking in the top five for exit activity were NEA, 500 Startups, Accel Partners, and Greylock Partners. Index, Sequoia, and A16Z round out the next 3 spots on our list.
GOOGLE, MICROSOFT, AND AMAZON ACTIVE EARLY ACQUIRERS IN 2015
Outside of the Big 3, other active acquirers of early-stage companies (startups that only raised Seed or Series Afinancing before exit) included Apple and IBM. It’s worth noting that Yahoo! was the second most active acquirer in 2014, but pulled back sharply in 2015, not even making it onto our top 10 list.
INTEL CAPITAL LEADS CORPORATES
Of all corporates and corporate venture arms, Intel Capital had the highest number of exits in 2015. The firm topped our lists for corporate and CVC exits in 2014 and 2013 as well. Intel Capital’s notable exited investments include Box, Virtustream, and BlackArrow, among many others.
IPO ACTIVITY RECOVERS IN Q4’15, BUT IPOs ARE DOWN IN THE YEAR
There were 17 tech IPOs in Q4’15, almost double the amount seen in the previous quarter. Among those IPOs, 11 were of VC-backed tech companies. However, both overall and VC-backed IPOs were down significantly in 2015 compared to the previous year.
WAY EASIER TO RAISE AT A $1B+ VALUATION THAN EXIT FOR ONE
There were 11 $1B+ exits last year while there were 70 new companies who joined the $1B club aka unicorns. After zero $1B+ exits in Q3’15, the number of billion dollar exits by quarter recovered in Q4’15 to 4 but it was still a weak year for mega-exits.
