Growth Through Acquisitions | Wharton Scale School

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Wharton School

Wharton School

День тому

In the competitive environment of technology, speed to market is often a key to success. But creating every capability internally often takes the time and skills many startups fail to have.
In this "Wharton Scale School" session, we examine when to look outside the firm for missing pieces, how to find a company with the right fit, and how to price the deal in a way that retains value.
The Wharton Scale School workshop series, hosted by Wharton San Francisco and Venture Lab, guides entrepreneurs making the transition from a successful startup to a large enterprise. Hear from experts who share solutions to critical challenges faced by rapidly growing companies. Learn more: whr.tn/scaleschool
Panelists:
David Wessels, ENG'92, W'92
Adjunct Professor of Finance, The Wharton School
Vicente de Baca, WG'09
Partner, v2 Ventures
Anton Hanebrink, WG'04
Chief Corporate Strategy & Development Officer, Intuit
Jamie Kim, WG'14
Corporate Development & Strategy, E la Carte Inc.
#growththroughacquisitions #mergersandacquisitions #m&a
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Founded in 1881 as the world’s first collegiate business school, the Wharton School of the University of Pennsylvania is shaping the future of business by incubating ideas, driving insights, and creating leaders who change the world.
With a faculty of more than 235 renowned professors, Wharton has 5,000 undergraduate, MBA, executive MBA, and doctoral students. Each year 18,000 professionals from around the world advance their careers through Wharton Executive Education’s individual, company-customized, and online programs. More than 99,000 Wharton alumni form a powerful global network of leaders who transform business every day.
Learn more about Wharton: www.wharton.upenn.edu/
Subscribe to the Wharton UKposts channel: ukposts.info...

КОМЕНТАРІ: 184
@juanie042700
@juanie042700 8 місяців тому
Received a ton of value from the moderator, the panelists and the audience. Thank you so much.
@jymiv7640
@jymiv7640 7 місяців тому
Im 44… a newly entrepreneur, on my way to transforming myself into a money conscious businessman with no prior experience other then reading & learning from books like Think & Grow Rich, Million Dollar Habits & listening to people like Jim Rohn etc… videos like this share so much wonderful & useful information, thank you Wharton👍… The true key to success is the person you need to become in order to be successful… so I began my transformation about 5 years ago on my way to becoming wealthy🔥💪🏻
@kiingdrew
@kiingdrew 6 місяців тому
Keep pushing!!!
@elvisisalive2716
@elvisisalive2716 3 місяці тому
Jim Rohn is a total sheister, get a better role model. Learn from real people
@jymiv7640
@jymiv7640 3 місяці тому
@@elvisisalive2716 Smart individuals take from many people... that's called wisdom. The assumption that I only learn from him & not others only makes you look immature, foolish & closed minded.
@elvisisalive2716
@elvisisalive2716 3 місяці тому
@@jymiv7640 stop virtue signalling , go read another book
@studentstudent5044
@studentstudent5044 3 місяці тому
You got this brother!❤️ I’m a 21 year old business school student with the same ambitions. Maybe we’ll meet some day.
@thangduongtrong5729
@thangduongtrong5729 2 роки тому
good lecture. it is concise and deep. strategic view for big company is discussed and tactical view for small campany is also discussed
@runer007
@runer007 3 роки тому
Great to see a superb teacher in action.
@fasikahunde53
@fasikahunde53 3 роки тому
Fascinating and enlightening conversation!
@elke9161
@elke9161 Рік тому
Uncertainty it took me 5 years to stop trying to predict what about to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.
@bubbleleaftea
@bubbleleaftea Рік тому
He really is: excellent cadence and vocabulary, kept it succinct enough where one could keep up but at the same time advanced enough so that you must pay constant attention.
@matthewellis3004
@matthewellis3004 Рік тому
Listening to this from the perspective of a small General Contractor, looking for parallels and how I would apply to my business
@HarryJoiner
@HarryJoiner 3 роки тому
41:55 - nice, logical breakdown
@maulikharia1308
@maulikharia1308 Рік тому
Excellent lecture! Acquisitions have become more common nowadays as a means of inorganic growth. But the scaling doesn't work out all the time and leads to heavy loses.
@ahsanmohammed1
@ahsanmohammed1 2 роки тому
Great share. Thank you. It would’ve been nice if those slides were available as well.
@waysofaquarius649
@waysofaquarius649 2 роки тому
Every time I listen to someone talking about their industry about it not being great it comes off as they don’t want you to do it because they want all the deals. Plus, he talks about how his partner can help you grow your business. Using their stuff @ 7:04
@HappySmartCityForum
@HappySmartCityForum 3 роки тому
M&A is such a great thrill and an amazing way to avoid headaches as an investor.
@ssuwandi3240
@ssuwandi3240 2 роки тому
Then Softbank is a Genius
@toratora9009
@toratora9009 3 роки тому
Its a game between Advisories and clients to get a higher valuation. I been doing this and theres a lots more to it. You have to be aligned to the BS or itll not work
@dungbui1341
@dungbui1341 2 роки тому
What do you mean aligned to the BS or it won't work? Can you elaborate?
@carolinea.441
@carolinea.441 Рік тому
Amazing class!!
@richardgodwin2967
@richardgodwin2967 Рік тому
Enjoy this. Suggestion: It is difficult to hear the audience/student questions. On future videos would it be possible to pass a microphone around or have a central mike? Thanks.
@Joseph_CPA_JD_LL.M
@Joseph_CPA_JD_LL.M 2 роки тому
Lots of glitz and glamour with Wharton, I enjoyed it, but now I see how it's as much of a brand name as is Mercedes-Benz. No question there have outstanding resources. Where is Elon Musk on this?
@whatsfordinner1695
@whatsfordinner1695 2 роки тому
I really like how Hanebrink explains everything. For example at @57:35 - super clear and concise answers. Compare to how de Baca answered the question @55:00 - ... so what was your strat??? How do you value it?
@InSaNeRuSsELL59
@InSaNeRuSsELL59 2 роки тому
how de Baca made it out of back office is beyond me...
@sukilee73
@sukilee73 2 роки тому
Too big to grow, nice shot. Especially, the best period of the start-up is the starting point, you will feel the pain after that phase. No matter what, MBA is good.
@michaelanthonygutierrez
@michaelanthonygutierrez Рік тому
Thank you Carl Ulrick.
@rossfriedman6570
@rossfriedman6570 2 роки тому
The M&A way you pay debt and securities in a particular order is an attempt to maximize return on equity, right?
@piscescapital6294
@piscescapital6294 Рік тому
Anybody know what book from david wessels is he referring at the beginning “the bible of valuing a company”
@abhyunnati8589
@abhyunnati8589 Рік тому
Learned a lot from this discussion
@CaffeinatedMnA
@CaffeinatedMnA 10 місяців тому
Some interesting insights, thanks for sharing!!
@SuperBusinessManager
@SuperBusinessManager 2 роки тому
Great lecture! Thanks for sharing!
@thangduongtrong5729
@thangduongtrong5729 2 роки тому
good lecture. I invest in stocks in vietnam. I want to know how company grow. this lecture will permit me to check whether acquisition is good or bad. it is simple. but if we dont join this lecture. we dont know. HOW TO FIND SIMILAR LECTURE ON UKposts, pls, tell me. thanks
@named161
@named161 Рік тому
Awesome content!
@bharatmittal9937
@bharatmittal9937 3 роки тому
Great. Accountants also need to be fully acquainted with M&As...
@arpsri9675
@arpsri9675 Рік тому
21:43 if we are big, we buy. (But still, how much it will cost?) If we are small we develope from internal. We know that trend would be no cord, but now to add value on top. Even the knowledge is out there, but we also buy to level up knowledge. Yes, speed is important. If we analyze that the speed of development from internal is too long, it might be too late later on. Sometime, we focus on knowledge more than short term profit. We M&A, we safe time. M&A is just the starting point of internal development for the big company.
@FactsAbout1234
@FactsAbout1234 3 роки тому
Right now,Hexo is following the same strategy.
@mastershredder2002
@mastershredder2002 3 роки тому
1) do acquisition 2) let MBAs take control of acquisition 3) watch acquired company fail 4) watch company fail 5) get new job
@osazemeusen1091
@osazemeusen1091 3 роки тому
hahahahahahaha
@100millionsats
@100millionsats 3 роки тому
Yup, acquisition can be the fastest way to destroy a business. Got to be god dam sure first.
@radio_nowhere
@radio_nowhere 3 роки тому
There was another great insight. Buy businesses who are willing to sell at 80 cents to the dollar (for whenever reason). That's a real, net positive roll-up. Perhaps, the only kind.
@joggyjames
@joggyjames 3 роки тому
brilliant
@mohamedgaus2096
@mohamedgaus2096 3 роки тому
@@osazemeusen1091 lo
@businessforbreakfast3208
@businessforbreakfast3208 2 роки тому
Very interesting discussion
@chrispeng121
@chrispeng121 3 роки тому
It was so hilarious when the panelist answered the question regarding valuation. More or less, they told me they didn't do any valuation. In fact, they twisted their assumptions to increase the price to outbid others. Therefore, more than 90% of M&A in the corporate world value destruction rather than value creation. Luckily, you hide it in your consolidated financial statements.
@ismaileyaqub6335
@ismaileyaqub6335 3 роки тому
@@sanansa4567 I mean, your example is anti-competitive and should not have been allowed...
@Joseph_CPA_JD_LL.M
@Joseph_CPA_JD_LL.M 2 роки тому
It seems Vincent was talking all hypothetical. It seems he was recalling information from what he read in text books.
@dracobyronwayne
@dracobyronwayne 2 роки тому
Precaution.
@beedebawng2556
@beedebawng2556 2 роки тому
What are you? 😊
@alvareza3
@alvareza3 Рік тому
Winners curse.
@user-pu1lj7zg5w
@user-pu1lj7zg5w 7 місяців тому
Thank you so mach👍
@ahsanmohammed1
@ahsanmohammed1 2 роки тому
Thank you
@arpsri9675
@arpsri9675 Рік тому
47:30 why do you need to M&A your competitor? When you start to see their market share increase, you just add up option of being the same with digital way of ordering. What is your brand position? You do what you do, but give your customers options of how they want to operate front of house.....well that seems quite a revenue focus. Not product identity.
@leon4695
@leon4695 3 роки тому
Entrepreneurship school, Entrepreneurship dedicated to someone else's established thought process to make profit happy learning people
@ayashabegam5211
@ayashabegam5211 2 роки тому
Mk..k
@leon4695
@leon4695 2 роки тому
@@ayashabegam5211 🕴
@theguest103
@theguest103 Рік тому
im the girl casually drinking a glass of wine on the right throughout all of this
@arpsri9675
@arpsri9675 Рік тому
1. Type of business mainly growth by brain power 2. Big company M&A to safe time for development. When they buy, their starting point of development is not zero. But they have to think about what is next? What they can add up to what it is already developed but the seller. 3. But another side, if they buy. They give money power to the seller. They have money to develop something even better. 4. If number 3 is the case, go back to think about what is next that you will add up? Gauge it.
@beatsbythekilo
@beatsbythekilo Рік тому
thank u!
@makeaniiimpactYT
@makeaniiimpactYT 2 роки тому
How many acquisition bonuses does it take a new MBA grad to zero out their loan..1...2...3....3
@alhadifarjalla
@alhadifarjalla 2 роки тому
Gi bill is zero
@fleischwolf82
@fleischwolf82 2 роки тому
Sooo much blovating....
@plannerjoy
@plannerjoy 8 місяців тому
18:36 Lecture Notes How to use M&As and Internal Development to serve my existing customers
@user-pu1lj7zg5w
@user-pu1lj7zg5w 7 місяців тому
Think you relatives🎉
@AmitSharma-bj1yo
@AmitSharma-bj1yo 3 роки тому
I am curious - how they do pricing?
@v3gas102
@v3gas102 2 роки тому
DCF/LBO, Multiples of Revenue, Comparables or Market Cap. Usually a valuation takes 3-4 of these places them on a “football field” graph and averages out some rationalization for the price range they land on.
@ziggyc4474
@ziggyc4474 2 роки тому
What does F.i.t.stand for ?
@monroetrask8753
@monroetrask8753 Рік тому
Fashion Institute of Technology :)
@user-tr7do9kn4n
@user-tr7do9kn4n Рік тому
왜 알고리즘이 추천해주는지....모르겠지만.... Anyway, Thank you for good lecture
@dracobyronwayne
@dracobyronwayne 2 роки тому
Precaution.
@tomcotter4299
@tomcotter4299 3 роки тому
TL;DR - Do everything except improve your product/service offering. MBA logic 👍
@jeeshyyy
@jeeshyyy 3 роки тому
1:22:19 is that dude drinking beer during a lecture?
@lisageorge4599
@lisageorge4599 2 роки тому
Lol that's not beer.
@kylealexander7621
@kylealexander7621 2 роки тому
We often drink booze at postgraduate guest lectures. They're normally at 6/7/8pm.
@stannis7656
@stannis7656 2 роки тому
4:59 guy is drinking red wine in the front row...so probably
@osman01003
@osman01003 3 роки тому
That's why one should not get an MBA.
@michaelbraun5074
@michaelbraun5074 3 роки тому
45:29
@dert4291
@dert4291 2 роки тому
lollll
@PipoLipo9000
@PipoLipo9000 2 роки тому
The panelist in the middle knows his stuff around targeting, negotiating, integrating. Made the other two look like they were out of their depth.
@ketansharma855
@ketansharma855 Рік тому
Ahhh yes i guess this is the vedio byjus founder watched. Makes sense now
@GoodSeedsGoodTrees
@GoodSeedsGoodTrees 2 роки тому
25:49 dude on the right is giving the guy on his phone the dead eye then turns away as soon as he looks up
@YashSharma-xd5rg
@YashSharma-xd5rg 2 роки тому
It's actually superficial growth. The products will always seem disconnected. Check coupling between fb n insta. Pretty poor. Then WhatsApp is further a disgruntled adopted child.. yet because of the each ability of the founders money is churned..
@vladmkrtumyan1660
@vladmkrtumyan1660 2 роки тому
That’s softwares main problem
@jeffreysucipto7104
@jeffreysucipto7104 3 роки тому
everyone has a plan till they get punch in the face
@STYLES2482
@STYLES2482 3 роки тому
👍🏻
@Big-Show1
@Big-Show1 2 роки тому
"MBA's are useless" - It's all about having the ability to network with like-minded people and having a piece of paper to hang on the wall.
@mikehoward9211
@mikehoward9211 Рік тому
what? you mean an MBA from Biola U or Argosy U is not the same as an MBA from Wharton or Harvard or Stanford?
@cici3079
@cici3079 Рік тому
This video this disproves your comment.
@kvin9210
@kvin9210 Рік тому
Well tell that to the people who graduated from top business schools around the world and making 6 figures. The people saying MBAs are useless are the ones that probably got it from a place not reputable or don't have them at all.
@shashidharshettar3846
@shashidharshettar3846 2 роки тому
My son is from Wharton
@austinaustin7546
@austinaustin7546 2 роки тому
taking his hands in and out of his pockets at the beginning is driving me nuts.
@ChitranjanBaghiofficial
@ChitranjanBaghiofficial 2 роки тому
yup, it was as if he is stuck in a loop.
@VictorPRGP
@VictorPRGP Рік тому
"You know...", "you know...", "you know..."
@shantellmcneal3915
@shantellmcneal3915 5 місяців тому
14:39
@adamdahl3080
@adamdahl3080 6 років тому
QLA
@MultiGonon
@MultiGonon 4 роки тому
Is it what this video is all about? I don't want to waste valuable data since i can get from the source Dan Pena Sn.
@stevenvojacek779
@stevenvojacek779 3 роки тому
Dan Pena is a fraud haha
@RomilCPatel
@RomilCPatel 2 роки тому
@@MultiGonon It’s not exactly the same but similar
@iceyred6668
@iceyred6668 2 роки тому
iicm='s/management
@saxel3918
@saxel3918 2 роки тому
That gesture is bad for your balls and circulation 🤣🤣🤣
@marciamarquene5753
@marciamarquene5753 5 місяців тому
G vi o vídeo maravilhoso d fui lá fora e só r viu se o mesmo horário e depois da passagem da passagem e ela estava esperando aqui terça feira e depois da passagem da mensalidade da passagem da mensalidade da mensalidade da passagem e o valor da mensalidade
@marciamarquene5753
@marciamarquene5753 5 місяців тому
C e te falo ok obrigada pela informação sobre esse mês e valor total e te envio da mensalidade e te
@mvg75
@mvg75 Рік тому
What; here's a Ton;.
@kdub1242
@kdub1242 2 роки тому
This school was just acquired by another school, and all you students have been terminated.
@thangduongtrong5729
@thangduongtrong5729 2 роки тому
loud is not enough, too low
@marciamarquene5753
@marciamarquene5753 5 місяців тому
F xi tô aqui fora esperando o mesmo valor da mensalidade da passagem da mensalidade e te envio o comprovante da passagem e o valor e o valor da passagem e o valor da mensalidade da passagem da mensalidade da mensalidade e o valor da
@elcapitan6126
@elcapitan6126 Рік тому
i.e. the Autodesk way. great for pure profit. not great for the underlying (real) economy and market. this approach is great for investors not for the market as a whole.
@tawonamagede6637
@tawonamagede6637 Рік тому
Mergers and acquisitions .
@tawonamagede6637
@tawonamagede6637 Рік тому
Favourite topic
@marciamarquene5753
@marciamarquene5753 5 місяців тому
G vi o mesmo valor e valor total entre se for w se for w se for só r agradeço e desculpa mas estou aqui fora esperando o valor e valor total entre o valor e o valor da mensalidade da passagem da passagem e o mesmo valor da passagem e ela estava ótimo e
@marciamarquene5753
@marciamarquene5753 5 місяців тому
E o valor e o valor e o valor da passagem e o mesmo valor e o valor e o valor e valor total e o mesmo valor da passagem e o valor e valor total entre o mesmo valor e o mesmo valor e o mesmo valor da passagem da mensalidade da passagem
@user-sy8yp2mf1j
@user-sy8yp2mf1j 3 місяці тому
sd Michigan super Tuesday
@user-sy8yp2mf1j
@user-sy8yp2mf1j 3 місяці тому
Sag Delivery
@user-sy8yp2mf1j
@user-sy8yp2mf1j 3 місяці тому
Celebrity endorsements
@user-sy8yp2mf1j
@user-sy8yp2mf1j 3 місяці тому
Add Philadelphia
@w.r.7440
@w.r.7440 2 роки тому
Why do I keep hearing murders and acquisitions? 😂
@MiyanPunctureWaleVsBrahmanVaad
@MiyanPunctureWaleVsBrahmanVaad 2 роки тому
You need to see a doc. ENT specialist.
@marciamarquene5753
@marciamarquene5753 5 місяців тому
F xi tô aqui fora esperando o valor da passagem da passagem da passagem e o mesmo horário da manhã e depois da passagem e ela estava esperando aqui fora esperando o valor e o mesmo valor e
@Rd-bi7vr
@Rd-bi7vr Рік тому
Useless degree that tries to standardize random behavior that is ; management decisions . More value in getting a technical degree combined with experience.
@XPLAINMYNAME
@XPLAINMYNAME 2 роки тому
Qla qla qla qla qla qla
@fleur257
@fleur257 3 роки тому
The prof was good. No real substance in anything the guests had to say. Especially, the Anton guy, just a lot of blah blah.
@ohiotoledo3787
@ohiotoledo3787 3 роки тому
Murders and executions
@marciamarquene5753
@marciamarquene5753 5 місяців тому
T amo demais r era ri alto alto falante da passagem e o valor e o valor da passagem da passagem da passagem da passagem da mensalidade da passagem da mensalidade e te falo ok bjs te mandar mensagem e
@iceyred6668
@iceyred6668 2 роки тому
Acquisitions=++Pnetworth+k //nd.D
@iceyred6668
@iceyred6668 2 роки тому
iicm='s/management //nd.D management/40%
@iceyred6668
@iceyred6668 2 роки тому
Acquisitions=++Pnetworth+k
@marciamarquene5753
@marciamarquene5753 5 місяців тому
Xv da constituição federal e valor e o mesmo horário e o mesmo horário da manhã e o valor e valor total e te falo se ela quiser ir comigo e te envio o comprovante lá e pegar ET o mesmo valor e valor total e te envio o comprovante lá e o mesmo horário da manhã r
@marciamarquene5753
@marciamarquene5753 5 місяців тому
G o valor da passagem e te falo w r viu o mesmo valor da mensalidade e ter o valor da mensalidade da mensalidade e o mesmo horário da manhã r e te falo se ela quiser ir lá e o mesmo horário da passagem da mensalidade da
@jorgegomez524
@jorgegomez524 3 роки тому
monopolies are good? not for the people
@vladmkrtumyan1660
@vladmkrtumyan1660 2 роки тому
100%
@conveythis
@conveythis 3 роки тому
Really uninspiring, boring discussion of sweet talking MBAs. No clear hints, no clear advice. Waste of time.
@teamtoken
@teamtoken Рік тому
Totally agree, but thats always MBA/Business school talk. Vomit out a whole word salad to make yourself sound smart and try to convince people you can deliver value when you damn well know you can’t.
@Translationcloud
@Translationcloud Рік тому
@@teamtoken Haha, I agree
@marciamarquene5753
@marciamarquene5753 5 місяців тому
V o mesmo valor e valor e o mesmo valor da passagem da mensalidade da mensalidade e te falo se ela for lá te dou o valor da mensalidade e o valor da passagem e o mesmo horário e depois da passagem e te falo se der certo w w r w se quiser vir
@marciamarquene5753
@marciamarquene5753 5 місяців тому
F xi g Du ei tô esperando o f xi tô aqui esperando aqui terça feira então então só r o mesmo horário e depois te dou retorno aqui e o valor e valor total entre o valor
@apexvadeor3670
@apexvadeor3670 2 роки тому
so for MNA just be full of shit buy it low as you can beat em down to , buy it trying to use no money still and then hope for the best
@arpsri9675
@arpsri9675 Рік тому
5% of the 8% of what? This is unclear, you can just pre-calculate and say it in percent out of 100 % of what you are talking about. This is prep speech?
@marciamarquene5753
@marciamarquene5753 5 місяців тому
F xi w r viu se e valor total e o valor e o e o valor da passagem e o mesmo valor e o mesmo valor e valor total e ela quiser vir y se for só f e ela quiser ir lá e
@africanative986
@africanative986 4 роки тому
Eww his son watches youtube videos?!?
@TheOpennose
@TheOpennose 2 роки тому
what a waste of time
@JoseFernandez78
@JoseFernandez78 Місяць тому
Great video but the amount of corporate jargon and chewed words, after years of lockdown and endless meetings, makes me gag.
@x0UncleSam0x
@x0UncleSam0x Рік тому
So... Slow...
@JULIORODRIGUEZ-lg2fj
@JULIORODRIGUEZ-lg2fj 5 років тому
super weak
@ArtificiallyConcious
@ArtificiallyConcious 3 роки тому
Y?
@_spicypainliquor
@_spicypainliquor Рік тому
The amount of hair loss in this room is craaazy
@sencanboz2645
@sencanboz2645 2 місяці тому
Nicht verschlüsselt...!!! Keine Gebühren fällig!
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