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The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

20VC: LinkedIn's Head of Corp Dev on Why and When Startups Should Start Relationship Building With Corp Dev, What The Structure of M&A Traditionally Looks Like & How To Mitigate The Biggest Risk of M&A, Integration Risk

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

The Twenty Minute VC

Finance, Venturecapital, Tech News, News, Siliconvalley, Technology, Investing, Startups, Business

4.4637 Ratings

🗓️ 15 January 2018

⏱️ 31 minutes

🧾️ Download transcript

Summary

Emilie Choi is Head of Corporate Development @ Linkedin where she has led 40+ acquisitions, acquihires or investments. In terms of acquisitions, Emilie led the acquisitions of Lynda, Bizo, Newsle, Bright, Pulse, SlideShare, and Rapportive just to name a few. On the strategic investment side, she led Linkedin's investment in Cornerstone On Demand and G2 Crowd. Before Linkedin, Emilie enjoyed roles such as Director of Digital Business Strategy and Operations at Warner Bros, International Strategy and Ops @ MySpace and Corp Dev and Strategy @ Yahoo. Emilie has also sat on the Naspers board for the last 10 years.

In Today’s Episode You Will Learn:

1.) How Emilie made her way into the world of M&A and came to lead over 40+ game-changing acquisitions for Linkedin?

2.) In 2016, M&A made up 95% of startup exits, how does Emilie evaluate the current state of exit environments? What 2 reasons have caused the drop in startup M&A? How does Emilie view the rise of PE and strategic investors to the acquisition markets?

3.) Paul Graham said ‘startups should only talk to corp dev when they are doing really well or really badly’. What are Emilie's thoughts on when is the right time for startups to have conversations with Corp Dev teams? When does Emilie you most like to begin the relationship? How does Emilie like to work with VCs in this relationship building?

4.) Paul Graham also described the structure of M&A as "grueling". Does Emilie agree with this? How does Emilie map out the structure of a typical M&A deal, from start to finish? How much of a role does price play in her evaluation of a deal? How does Emilie measure the success of an acquisition?

5.) Matt Switzer @ Hootsuite stated the biggest M&A risk to be integration. What does smooth integrations look like for both consumer vs enterprise? Why do they differ? How can this integration work be de-risked and front loaded?

Items Mentioned In Today’s Show:

Emilie’s Fave Book: The Bonfire of the Vanities 

Emilie’s Most Recent Investment: Heighten

As always you can follow Harry and The Twenty Minute VC on Twitter here!

Likewise, you can follow Harry on Snapchat here for mojito madness and all things 20VC.

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Transcript

Click on a timestamp to play from that location

0:00.0

Another beautiful week begins here on the 20 minute VC with me, Harry Stebbings, on Snapchat

0:04.2

at H, Stebbings with 2Bs. Now, if you speak to LPs, a lot of them will discuss liquidity,

0:09.1

and most often lack of liquidity. So I wanted to dive into the world of M&A today, with one of the

0:13.9

pre-eminent players and buyers of startups. So I'm thrilled to be joined by Emily Choi, head of CorpDev at LinkedIn, where she's led 40 plus acquisitions, aqua hires or investments.

0:24.3

In terms of acquisitions, Emily led the acquisitions of Linda, Bizzow, Newzel, Bright, Pulse, slideshare and Reportive, just to name a few.

0:32.0

On the strategic investment side, she led LinkedIn's investment in Cornerstone on-demand and G2 crowd.

0:37.3

Before LinkedIn, Emily enjoyed roles such as Director of Digital Business Strategy and Operations

0:41.7

at Warner Brothers, International Strategy and Ops at Myspace, and CorpDev Strategy at Yahoo.

0:47.6

Emily's also sat on the Naspers board for the last 10 years, and I want to say a big thank

0:51.8

you to Matt Switzer at Hoot Suite.

0:53.6

For the intro to Emily today, I really do so appreciate that and all he has done. However, before we meet today's

0:59.0

guest, it's the new year and everyone is thinking of health and diet and so this month's

1:02.8

partnerships will be aligned to that. And did you know that office snacks are the third most

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requested perp by employees with 83% suggesting it to be a huge perk. Well, that's where

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1:18.0

starting with just $12 per month per employee. You can choose the plan that fits your team and

1:23.2

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1:28.1

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1:33.2

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1:38.1

you getting set up today with 20% off your first month using the offer code VC20 at www.com forward slash VC20. That really is a must.

1:49.1

And good health is not just about healthy snacking with Naturebox, but good sleep with Lisa, the Warby

1:53.9

Parker or Tom's shoes of the mattress industry. Lisa have done away with a terrible mattress

...

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