{"id":2937,"date":"2007-06-20T11:07:31","date_gmt":"2007-06-20T11:07:31","guid":{"rendered":"http:\/\/zmetro.com\/?p=2937"},"modified":"2007-06-20T11:07:31","modified_gmt":"2007-06-20T11:07:31","slug":"roche_buys_nimb","status":"publish","type":"post","link":"https:\/\/www.zmetro.com\/?p=2937","title":{"rendered":"Roche Buys Madison&#8217;s NimbleGen Systems for $272.5M"},"content":{"rendered":"<p><a href=\"http:\/\/www.madison.com\/archives\/read.php?ref=\/tct\/2007\/06\/19\/0706190239.php\">Jeff Richgels summarizes the deal<\/a>: <\/p>\n<blockquote><p><i> NimbleGen&#8217;s revenues have been growing strongly, from $4.5 million in 2004, to $9.5 million in 2005 and $13.5 million in 2006, but it has accumulated a total loss of $44.5 million as of the end of 2006, including losses of $8.3 million in 2004, $5.2 million in 2005 and $6.8 million in 2006, according to its IPO filing.<br \/>\nThe company had raised $70 million in private funding and had $19 million in cash and cash equivalents as of Dec. 31, 2006.<\/i><\/p><\/blockquote>\n<p>A few interesting data points: $272.5M Sale price, $70M capitalization, 140 employees (850K to $1M monthly staff burn rate, maybe much more) and $19M cash and equivalents at the end of 2006.   These numbers nicely illustrate the risks and potential upside of technology plays.  While $272.5M is not a home run by VC standards (10X+), it&#8217;s a nice out for many, perhaps most (all?) investors.   It would be interesting to find out if some of the capitalization <a href=\"http:\/\/www.feld.com\/blog\/archives\/2004\/08\/to_participate.html\">included participating preferences<\/a>.<br \/>\nThe good news for Dane County?  Some of that money will probably finds its way back into new startups.<br \/>\n<a href=\"http:\/\/www.jsonline.com\/story\/index.aspx?id=622143\">Kathleen Gallagher has more<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p><a href=\"http:\/\/www.madison.com\/archives\/read.php?ref=\/tct\/2007\/06\/19\/0706190239.php\">Jeff Richgels summarizes the deal<\/a>: <\/p>\n<blockquote><p><i> NimbleGen&#8217;s revenues have been growing strongly, from $4.5 million in 2004, to $9.5 million in 2005 and $13.5 million in 2006, but it has accumulated a total loss of $44.5 million as of the end of 2006, including losses of $8.3 million in 2004, $5.2 million in 2005 and $6.8 million in 2006, according to its IPO filing.<br \/>\nThe company had raised $70 million in private funding and had $19 million in cash and cash equivalents as of Dec. 31, 2006.<\/i><\/p><\/blockquote>\n<p>A few interesting data points: $272.5M Sale price, $70M capitalization, 140 employees (850K to $1M monthly staff burn rate, maybe much more) and $19M cash and equivalents at the end of 2006.   These numbers nicely illustrate the risks and potential upside of technology plays.  While $272.5M is not a home run by VC standards (10X+), it&#8217;s a nice out for many, perhaps most (all?) investors.   It would be interesting to find out if some of the capitalization <a href=\"http:\/\/www.feld.com\/blog\/archives\/2004\/08\/to_participate.html\">included participating preferences<\/a>.<br \/>\nThe good news for Dane County?  Some of that money will probably finds its way back into new startups.<br \/>\n<a href=\"http:\/\/www.jsonline.com\/story\/index.aspx?id=622143\">Kathleen Gallagher has more<\/a>.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"_links":{"self":[{"href":"https:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts\/2937"}],"collection":[{"href":"https:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2937"}],"version-history":[{"count":0,"href":"https:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts\/2937\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}