Know. Grow. Exit.
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Good Wednesday Morning,
Daylight – Great example of action over talk so I’m going with it – Founders of North Face Kristine McDivitt Tompkins and her husband, Douglas Tompkins, paid $345 million – virtually all of their net worth – to create a national park where flamingoes, deer and other threatened species can roam. The 10 million-acre national park system stretches all the way south to Cape Horn, where the tip of South America splinters into fjords and canals. Chile is cool with it. By the way, the happiest Entrepreneurs after Exit identify a legacy to leave. Unhappiest – beach bum with a billion in the bank.
M&A – H.I.G. Capital sold Pet Food Holdings to Cargill.
Oracle agreed to acquire Zenedge, a platform that helps secure IT systems deployed via cloud, on-premise or hybrid hosting environments.
New Matter, a maker of 3D printers, is shuttering operations. raised approximately $6.5 million.
Ezaki Glico agreed to buy TCHO Ventures, a craft chocolate company.
Style – Hippie Food with a Golden Corral touch turns diet advice on its head. Cut sugar, refined grains and processed foods and eat all the vegetables and quality meats you can – without worrying about portion sizes.
The human brain by itself is as hungry as a lumberjack. Anthropologists say our earliest ancestors would have had to eat raw foods non – stop for nine hours a day to fuel it, then got lucky and found a handful of sardines.
Live Rounds – When a Maybe is a hard Yes – Elon Musk’s Boring Company yesterday got a vague “maybe” to start digging in a Washington, D.C. parking lot and build an underground Hyperloop connecting New York, Philadelphia, Baltimore, and Washington, D.C. Musk said his team would meet this morning and all systems go. Believe me, they will not be asking feds to explain the Maybe. Close and go to next subject.
Buzzard’s Roost – Death Valley is hitting 127 degrees this week – the concentration of carbon dioxide in the atmosphere is now 407 parts per million – higher than it has been in the last 800,000 years.
Hot – Walmart’s stock on track for biggest single-session decline ever. The Morning Report predicted this day last summer, but it wasn’t hard to see what was coming – they walked away from the Dollar Store customer, went hat in hand after the iZod customer and overpaid for a string of e-commerce companies chasing a guy who is a lot smarter than they are.
Economics – Walmart’s operating margin is 3.3 percent, lowest in company history. Sam said keep that above ten.
Culture – Reverend Billy Graham passed away this morning at 99. Charlie Lewis and I were talking about his positive global impact yesterday afternoon and all done without a social media platform. He might have scaled a one man show better than any Entrepreneur in the world. I would encourage you to watch one of his crusades as an example where passion transcends time, distance and possibilities. He started in a tent and never lost the touch. A great story was when he asked an aide to go to dinner with him and a woman. The aide asked are you worried about her and Graham said no – I’m worried about me.
Investment Banking – This is a deal bankers were pushing but both CEOs should have been talked out of it. Retail’s Amazon problem. Exhibit A: Albertsons buying Rite Aid to gain scale and enter the pharmacy business. Haven’t seen it yet when two bad companies merge and make a good company.
IPO – Siemens is planning to IPO a minority stake in Siemens Healthineers during the first half of the year.
Venture Capital – Lyric, a hospitality company that designs and manages short-term rentals, raised $15.5 million.
Vydia, a video tech startup, raised $7 million.
Losant, an IoT developer platform that provides device management, raised $5.2 million.
LumiGrow, a smart horticultural lighting company, raised $5.1 million.
Homie, a housing startup, raised $4 million.
Live – Oxford Center – What Entrepreneurs Really Need To Know About Trump’s Tax Plan: Deductions, Depreciation and Divorce
February 22 from 9:00 am – 11:00 am
5 Concourse Parkway Suite 1000 (Queen Building)
Atlanta, GA 30328
Bring Your CFO or Controller
IPO – DFB Healthcare Acquisitions, a blank check company, said it raised $250 million in an offering of 25 million units priced at $10 a piece.
Zscaler, a cloud security firm, filed for an $100 million IPO.
Arcus Biosciences, a biotech developing immunotherapy drugs, filed for a $100 million IPO.
Venture Capital – CentralReach, a provider of electronic health record and practice management software for clinics focused on applied behavioral analysis and speech therapy.
Private Equity – Huntington Solutions acquired TrimTec Systems, a maker of custom fabricated EPS and industrial packaging solutions.
Amphora Gas Storage USA agreed to acquire Enstor Gas, an operator of Avangrid‘s gas storage business.
Metal Powder Products acquired NetShape Technologies, a provider of engineered metal components using powdered metal and metal injection molding technologies.
And that’s what’s ahead, Cliff