In silicon valley, who is the preferred technology company underwriters of the IPO?


Facebook listed securities lead underwriters Morgan Stanley, although since FB listed investment bank Morgan Stanley technology team seems to be defeated, but the United States, points out that the famous financial writer, critic James Stuart articles in silicon valley, Morgan Stanley’s position remains could not be shaken.

the author: Lin Jingdong

on May 11, the famous American financial writer, critic James Stewart (James b. Stewart) on Friday in the New York times commentary pointed out that in silicon valley, Morgan Stanley is still high above the king. The editorial content is as follows:

Facebook in May 2012 ipos have been criticised, Wall Street analysts, blogger Henry broad target (Henry Blodget) calls it is “a disaster”, the Wall Street journal called the issue of “poor”. As Facebook listed securities underwriters Morgan Stanley. Since Facebook listed after the battle, originally smugness investment bank Morgan Stanley technology team seems to be fully defeated.

when a famous social media company Twitter alternative to Goldman for its IPO lead underwriters, Goldman sachs investment manager Jeffrey seats card (Jeffrey Sica) told the media: “I can imagine that Goldman would become a technology company in the near future the preferred IPO underwriters.” With Facebook listed after the performance of the opposite, Twitter shares are listed on a rally.

but after a period of time, the situation changed again. Experienced listed after the collapse of the early Facebook shares took a year of time finally returned to the issuing price. As of this week, Facebook’s stock has risen nearly 50%, patient investors to obtain the rich rewards.

on the other hand, the Twitter stocks just when rising very quickly. On November 7, 2013, namely the Twitter shares listed on the first day of trading, the opening price of $45.10, but since then has been falling, is now below $33.

although Facebook is expected after not doing a good job, Morgan Stanley is still those who want to pay close attention to top brokerage IPO technology company. Since Facebook to go public, Morgan Stanley, participated in the company’s IPO issuance 47 technology, the technology company worth up to $23.4 billion. From the point of view of the total value of the IPO companies, j.p. Morgan came in second, Goldman sachs listed third.

that haven’t planned this summer, alibaba. Morgan Stanley is alibaba choice, as one of five Banks issued securities underwriters.

seats card admitted that his predictions don’t become a reality. He said: “I guess it shows that the time can heal all wounds. Morgan Stanley experience learned from Facebook to go public, since then, they established a huge retail brokerage distribution network. That is a no advantage by Goldman sachs.”

this is to the west coast of Morgan Stanley’s technical team cleared grievances, the team by Michael Grimes, 47 (Michael Grimes) leadership. Grimes has worked at Morgan Stanley for 19 years, he said this week: “we know that under the condition of unstable market, focus on providing customers with value is more important than ever.”

when the media to the west coast of Morgan Stanley’s technical team when challenged, he cites the radia, a British novelist and poet, Kipling poem “if” (Rudyard Kipling) share with colleagues. The opening of the poem is written like this:

“if the people around there is no reason that to blame you,

but you can still keep a quiet heart.”

others, says Morgan Stanley made unremitting efforts to restore their reputation. When Facebook to go public, Morgan Stanley facing the situation is very bad, so that the company’s chief executive, James Gorman (James Gorman) have to stand up for work in the company listed on the Facebook, and he’s still in the period of webcasts employees of Morgan Stanley said in the video, they should be proud of the work done by his colleagues.

a former Morgan Stanley employees not to be identified said: “it was a wave of media, to all of us. Our technical team members felt the shock and injury. You can blame them? The whole world is in pointing to their nose to scold. Our rivals are said to speak ill of us. Henry broad target criticized us on TV, kept fanning the flames. I spend a lot of time to reassure customers, explain to them the company’s action is right.”

now, the broad target, the tone seems to become soft. In 2012, he will be listed on Facebook is called “a disaster”, and then wrote: “the biggest problem is that Facebook IPO investors pay for the stock price (i.e., Facebook stock price) is too high.”

but he said this week: “Morgan Stanley is a great company, I have never questioned it.” He added: “in the securities market circumstances at the time of that kind of demand, Facebook shares priced well.”

he said, but institutional investors have small investors cannot learn important information, it is beyond doubt. Morgan Stanley said they fully comply with all laws and regulations, it may be true, but in Facebook flotation of law-abiding is absurd, because small investors didn’t get the same information.

Morgan Stanley did not comment.

some customers said, listed on the Facebook later, Morgan Stanley, at least the three technology companies listed in a big success. The three technology companies are respectively Palo Alto Networks, Kayak and Workday. More valuable is that the three technology companies listed, a lot of people say that Facebook completely destroyed the U.S. IPO market prospects, so Morgan Stanley in the 3 companies listed in the success of more effectively illustrate its privileged position.

sequoia capital, a venture capitalist Jim gertz Goetz (Jim) is Palo Alto Networks, one of the members of the board of directors in the three companies choose Morgan Stanley for the underwriters play an important role in the process. He said: “Morgan Stanley has the courage to go with us.”

he said: “the mass media are accusing Morgan Stanley, many are caused by competition. But it doesn’t cause too big effect to us. Morgan Stanley does not guarantee to undertake all IPO’s success, but they still is one of the biggest technology IPO investment Banks, and their this position has been maintained for decades. No other team has a profound experience as they. They not only have grimes, they have a large group of experts.

Morgan Stanley in silicon valley, created an another milestone in the history of, it was listed on apple, cisco, and Google and Salesforce.com lead underwriters. Besides grimes, Morgan Stanley’s technical team also includes Paul Chamberlain (Paul Chamberlain), Andrew Kearns (Andrew Kearns), Drew the ancient navarre (Drew Guevara) and Colin Stuart (Colin Stewart), and other senior investment experts. They went through many ups and downs, such as the famous technology banker Frank kua tron (Frank Quattrone) left, such as Google went public in 2004 in a complex in the process of a Dutch auction are criticized. When Morgan Stanley crumbling in the financial crisis, with Morgan Stanley bankers still stand on the same front.

says, for silicon valley’s clients, more importantly, Morgan Stanley seen “the wind” and “big world”, after twists and turns to fail. Over the years, sand hill road traffic. (located at menlo park in the city of sand hill road is a famous venture investment in silicon valley street, here gathered a large number of venture capital fund. The significance of sand hill road to the emerging markets, as it were, as Wall Street for the meaning of the securities market.) He said: “don’t forget, after the technology bubble burst, many large companies have reduced the size of the sand hill road office or even shut down the office, even Goldman sachs and deutsche bank is no exception.”

for Morgan Stanley, after listing in Facebook to undertake a few single business is the most crucial, Morgan Stanley bankers feel great pressure. But then with the help of the Morgan Stanley listed three companies was a great success. Network security software vendors Palo Alto Networks shares listed on the first day rose by nearly 13%. Leading travel search engine service providers for Kayak was priced at $26 per share, five months after it was Priceline.com to $40 per share. Human resources cloud software vendors Workday stocks has risen more than 38% since listed.

although technology stocks fell sharply recently, but for the Morgan Stanley trader, this year will be a record year. In addition to an upcoming IPO will be on alibaba as lead underwriters, it also on Facebook’s $16 billion takeover of WhatsApp trading holds the latter’s financial advisers.

grimes still seem to be enthusiastic about all sorts of mergers and acquisitions. Sequoia capital came on the day of the valentine’s day is (Saturday) at 1 PM to call grimes, grimes was already went out of town for the weekend with my wife, when gertz told grimes has missed when he cannot get a deal, grimes immediately jumped into the car to menlo park, and that night with several WhatsApp founder and gertz held talks. Gertz said: “over the next five days, he basically has been staying with us.”

of course, grimes and Morgan Stanley will get huge returns. According to Freeman Consulting (Freeman Consulting), according to Morgan Stanley estimates from the transaction service charge between $35 million to $45 million.

grimes said: “we are experiencing a technical revolution, we will cooperate with the world’s most exciting companies, involved in their most critical project.”

source: tencent technology