EVENT:MIT/Stanford Venture Lab: IPO Hype? (June 23)

[Oliver Muoto]

EVENT: MIT/Stanford Venture Lab: Are IPOs Overrated? IPOs versus Buyouts.
DATE: June 23, 1998
TIME: 6:30pm - 8:30pm
PLACE: Bishop Auditorium, Graduate School of Business, Stanford University, STANFORD
COST: $30, Registeration: 408-394-6384 or http://www.vlab.org
INFO: Speakers: Joe Kennedy (former CEO, Rapid City),
Daniel Warmenhover (President/CEO, Network Appliance)
Panel: Kathryn Gould (Partner, Foundation Capital),
Scott Dettmer (Attorney, Gunderson Dettme)
Mike Dolbec (VP Acquisitions, 3Com)
Moderator: Steve Bengston (Coopers & Lybrand)

DETAILS:
Last year the number of privately owned technology companies that went
the acquisition jumped 83% over the previous year (Broadview Associates).
For every one company that went public in 1997, eight chose to be
acquired. In 1996, the ratio was one IPO to four buyouts.
Among the 389 hardware deals last year was the sale of Rapid City
Networks to Bay Networks. Joe Kennedy, former CEO of Rapid City, will
discuss his experience in that buyout. In addition, Daniel Warmenhoven,
President, CEO and Director CEO of Network Appliance will discuss his
experiences with IPOs and his explorations of M&A for his former
company, Network Equipment.

With initial offerings like Broadcom and Rambus going through the roof
on a regular basis, why are so many companies choosing the buyout path
instead of going for the IPO gold? What are the risks of each approach?
Are there too many public companies to get adequate attention from Wall
Street? Are technology markets getting so well established that it
only makes sense to ally with a Cisco or a Microsoft? Or is technology
change accelerating so much that it forces large companies to buy,
rather than build, new solutions?

On June 23, 1998 at Stanford University's Graduate School of Business,
the MIT/Stanford Venture Laboratory, a panel of industry-savvy
individuals will react to the experiences of Joe Kennedy's and Daniel
Warmenhoven.

Moderating the evening is Steven Bengston, Director, Emerging Company
Services, Coopers & Lybrand. The panelist includes Kathryn Gould,
Partner, Foundation Capital, venture capitalist, Scott Dettmer,
Gunderson Dettmer, attorney for many networking companies, and Mike
Dolbec, VP Acquisitions at 3Com. Audience members will be invited to
participate in a Q&A session with the panel and presenters.