Gunderson Dettmer client Gimlet Media was acquired by Spotify. Gimlet Media is the developer of a digital media platform that produces podcasts and enables listeners to engage in the podcasting community.
With 885 venture deals to its credit in 2018, Gunderson Dettmer is again ranked “most active law firm globally” in PitchBook’s Global Venture Capital League Tables. This result reflects Gunderson Dettmer’s continued market leadership in the venture capital marketplace and reinforces previous recognition as the most active law firm in the world in PitchBook’s 2014, 2015, 2016, and 2017 annual industry reports.
Zilingo, a Singapore-based fashion platform, recently raised over $200 million from investors including Sequoia Capital India and Temasek Holdings Pte.
Brian Huber, who will be resident in the Boston office, has significant experience advising fund managers on issues related to fundraising, GP management, and economics, including the tax and structuring aspects of fund formations and investments globally. He helps clients navigate complex issues in the evolving legal and regulatory landscape, such as the impact of recent tax reform on investment and organizational decision-making. Mr. Huber also has significant experience advising fund managers and investors in connection with secondary purchases and sales of fund interests.
Gunderson Dettmer was short-listed in five categories for Law.com's 2019 Asia Legal Awards.
Gunderson Dettmer represented Lyndra Therapeutics, a developer of orally administered steady-state release pill, when it raised $55M in a Series B financing. The round of funding was led by Polaris Partners, with new investors HOPU Investments, Gilead Sciences, Invus, the Bill & Melinda Gates Foundation and Orient Life.
Globality, an AI-powered smart sourcing platform for large companies to find and manage service providers around the world, secured an investment of $100 million from the SoftBank Vision Fund.
Gunderson Dettmer acted as legal counsel to Pluto TV, a free ad-supported streaming service with 12 million monthly active users, in its acquisition by Viacom for $340M in cash.
Viking Global has co-led a $299.2M financing round for BridgeBio with KKR. Other existing investors including Perceptive Advisors, AIG, Aisling Capital, Cormorant Capital and Hercules Capital participated. BridgeBio, a clinical-stage biopharmaceutical company focused on genetically targeted therapies, was founded in 2015 and had previously raised $149M. The company will use the fresh capital to support its existing research and development programs as well as expand its efforts to rapidly develop new medicines.
This Alert briefly highlights certain reporting requirements, as well as certain other legal and regulatory developments, applicable to equity-based compensation as we begin 2019.
2019 Schedule 13G / Schedule 13F Filings, Form 13H Annual Update Filings, Annual Privacy Notice Mailing Requirement and Preliminary Reminder of Form ADV Annual Updating Amendment Requirements
Gunderson Dettmer announced today that David D. Gammell has joined the firm’s leading emerging companies practice, resident in the Boston office.
David Gammell is a prominent corporate lawyer known for his work representing emerging growth companies throughout their lifecycle as well as leading national and international venture capital and growth equity funds. With more than two decades of experience, he has a substantial practice advising early stage companies and entrepreneurs on formation matters, financings, mergers and acquisitions, intellectual property strategy, licensing, technology transfer and strategic alliances. He teaches at MIT and Harvard, and regularly serves as a panelist and judge at conferences and competitions focused on startups and venture-backed companies.
The SEC’s Division of Corporation Finance (and other divisions) will be largely closed during the pendency of the US Government shutdown.
Seismic, a developer of end-to-end sales enablement software, closed a $100M Series E round of funding. Investor Lightspeed Venture Partners led the round, with General Atlantic, JMI Equity and Jackson Square Ventures also participating.
Gunderson Dettmer earned "Deal of the Year for Asia," "Best M&A Deal in Asia" and "Best India Deal" in FinanceAsia’s Achievement Awards 2018 for its work in the US$16 billion acquisition of Flipkart Group by Walmart Inc. Gunderson served as international and M&A counsel to Flipkart Group, one of India’s largest e-commerce marketplaces, in the deal that made Walmart Inc. its largest shareholder. With the completion of the investment, Walmart now holds approximately 77 percent of Flipkart and the deal is reported to be the most highly-valued e-commerce deal in history.
Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP has announced the promotions of five associates to the partnership, effective January 1, 2019.
InVision, a digital design collaboration platform, has raised $115 million. The Series F round was led by Spark Capital with the participation of Goldman Sachs and existing investors including Battery Ventures, ICONIQ Capital, Tiger Global Management, FirstMark Capital and Geodesic Capital.
Developer of financial and banking services platform, Plaid, raised $250 million in a Series C led by Kleiner Perkins with Spark Capital, New Enterprise Associates, Goldman Sachs and Index Ventures (UK) participating. The company is now valued at $2.65 billion, more than ten times its valuation in June 2016.
ChargePoint, a client of Gunderson Dettmer, secured a Series H financing of $240 million bringing their total funding raised to more than half a million dollars. This round of funding comes from a diverse group of new investors including American Electric Power, Canada Pension Plan Investment Board, Chevron Technology Ventures, Clearvision, Daimler Trucks & Buses, GIC and Quantum Energy Partners. Existing investors include BMW iVentures, Braemar Energy Ventures, Linse Capital and Siemens.
Gunderson Dettmer represented Kleinfelder Group, an engineering, construction management, design and environmental professional services firm, in its definitive agreement to be acquired by WindPoint Partners, a private equity investment firm.
Poynt, a connected commerce platform for merchants, raised $100M in Series C funding from Elavon and National Australia Bank (NAB). As stated in the press release, "with this investment, the company will expand into new markets across Asia, Europe and South America, grow its talent base, and invest in product and partner development as it executes its vision to become the operating system (OS) on smart payment terminals worldwide."
Turvo, the world’s first real-time collaborative logistics platform, has closed a Series B financing with $60M led by Mubadala Ventures.
Gunderson Dettmer client Pillow was acquired by Expedia as part of the global travel company’s strategy to unlock urban growth opportunities.
Gunderson Dettmer advised Anaplan, Inc. on its initial public offering of 17,825,000 shares at the price to the public of $17.00 per share for a total of $303,025,000 in aggregate gross proceeds.
Gunderson Dettmer advised Histogenics Corporation on a follow-on public offering underwritten public offering of 26,155,000 shares of its common stock and warrants to purchase up to 19,616,250 shares of common stock, at a combined purchase price of $0.65 per share of common stock and accompanying warrant, for a total of $17,000,750.00 in aggregate gross proceeds.
Gunderson Dettmer advised Aldeyra Therapeutics, Inc. on a follow-on public offering of 5,250,000 shares at the price to the public of $13.75 per share for a total of $72,187,500 in aggregate gross proceeds. Corporate partner Jay Hachigian, of counsel Keith Scherer, and associates Albert Vanderlaan, Naomi Smith and John Maciejewski led the team advising Aldeyra.
TalkDesk, a provider of cloud-based contact center software, raised a Series B financing of $100M with a valuation of over $1B. Investors in this round of funding included lead investor Viking Global and existing investor DFJ.
With the passage of Senate Bill 826 at the end of September, California has become the first state in the U.S. to require public companies incorporated in California or other public companies with their principal executive offices in California (according their Annual Report on Form 10-K) to have specified numbers of women serving on their Boards of Directors. This alert discusses the new law and its implications for public companies.
The Massachusetts Noncompetition Agreement Act goes into effect on October 1, 2018 and will impact employers’ current practices with respect to post-termination non-competes for Massachusetts-based employees. This is relevant to you if you intend to hire Massachusetts-based employees or bind an existing Massachusetts-based employee to a post-term non-compete provision in the future because you will need to make updates to the non-compete provision in your form PIIA.
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