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Following up on my last post, the big theme at the AlwaysOn Venture Summit East conference was the economic slowdown and how that affects Silicon Valley and more broadly - growth companies across the country. Early signs show that the appetite isn't there as only five venture-backed companies went public in the first quarter, down from 31 in the previous quarter, according to the National Venture Capital Association.
Additionally, there were only 56 acquisitions in the quarter, down from 83 in the final three months of last year.
With the acquisition environment clearly slowing, it was a good time to hear sraight from the buyers whether they're going to sit the next six months out.
Jacqueline Hampton, executive director of strategic planning at Time Inc., J.D. Sherman, CFO of Akamai, and Andy Cohen, senior director of strategic development at Citrix, were on the panel - "Corporate Buyers - What's Whetting Their Appetite?" In this video, Jacqueline says Time Inc. is still "very interested in doing opportunistic acquisitions."
But the caveat she offers is that given the public market contracion and the tightening credit markets, valuations are likely to trend lower this year. Both J.D. and Andy were aligned with Jacqueline's view.
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