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  • June 2019
  • Technical Note

Valuing Employee Equity at Early Stage Ventures

By: Shikhar Ghosh, Christopher Stanton and Sanchali Pal
The note introduces a framework to consider factors that influence the value of employee equity at early stage ventures. Valuing equity is complex, and it important to account for expected dilution, assess exit potential, and acknowledge the high rate of failure in... View Details
Keywords: Employees; Equity; Valuation; Business Startups
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Ghosh, Shikhar, Christopher Stanton, and Sanchali Pal. "Valuing Employee Equity at Early Stage Ventures." Harvard Business School Technical Note 819-167, June 2019.

    James K. Sebenius

    JAMES K. (“Jim”) SEBENIUS, is the Gordon Donaldson Professor of Business Administration at Harvard Business School, where he founded the Negotiation unit and teaches advanced... View Details

    • March 2021
    • Supplement

    CashDrop (B1)

    By: Rembrand Koning, Paul A. Gompers and Sarah Gulick
    After the events in CashDrop A, Flores-Martinez received two concrete offers from VC funds for his startup business, CashDrop. This case describes the tensions between the two funds: a traditional VC fund who would offer Flores-Martinez a prestigious platform, and a... View Details
    Keywords: Small Business; Entrepreneurship; Business Startups; Venture Capital; Internet and the Web; Decision Choices and Conditions; Technology Industry; Financial Services Industry; Chicago; Illinois
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    Koning, Rembrand, Paul A. Gompers, and Sarah Gulick. "CashDrop (B1)." Harvard Business School Supplement 221-052, March 2021.
    • November 2016 (Revised February 2017)
    • Case

    BrightStar Care: The Evolution of a Leadership Team

    By: Boris Groysberg, Colleen Ammerman and John D. Vaughan
    BrightStar Care was a rapidly growing franchise of home health care agencies. Founded by husband and wife team JD and Shelly Sun as a single agency near Chicago in 2002, BrightStar had opened nearly 300 franchises across the United States by 2016, generating over $300... View Details
    Keywords: Health Care Services; Entrepreneurs; Board Of Directors; Boards Of Directors; Health Care Industry; Growth Strategy; Organizational Change; Brand Positioning; Entrepreneurial Organizations; Entrepreneurial Management; Franchising; Family-owned Business; Home Health Care; Managing Growth; Management Styles; Organizational Development; Talent Management; Women Executives; Women And Leadership; Business Startups; Family Business; Small Business; Talent and Talent Management; Governing and Advisory Boards; Health Care and Treatment; Human Capital; Leadership Development; Leadership Style; Business or Company Management; Growth and Development Strategy; Management Analysis, Tools, and Techniques; Management Skills; Management Style; Management Succession; Management Systems; Management Teams; Brands and Branding; Marketing Strategy; Strategy
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    Groysberg, Boris, Colleen Ammerman, and John D. Vaughan. "BrightStar Care: The Evolution of a Leadership Team." Harvard Business School Case 417-020, November 2016. (Revised February 2017.)
    • February 2021
    • Background Note

    Jobs to Be Done: A Toolbox

    By: Derek C. M. van Bever, Bob Moesta, Iuliana Mogosanu, Shaye Roseman and Katie Zandbergen
    The Jobs to Be Done methodology is both a theory and a practical approach for understanding customer behavior and why people make the choices they make. Many practitioners, whether they work for startups or incumbent businesses, find Jobs to Be Done useful because it... View Details
    Keywords: Customer Value and Value Chain; Decision Choices and Conditions; Knowledge Acquisition; Attitudes; Perception; Theory; Behavior; Customer Relationship Management
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    van Bever, Derek C. M., Bob Moesta, Iuliana Mogosanu, Shaye Roseman, and Katie Zandbergen. "Jobs to Be Done: A Toolbox." Harvard Business School Background Note 321-095, February 2021.
    • October 1981 (Revised June 1982)
    • Case

    Concept Devices, Inc.: International Market Entry

    Concept is a highly touted startup venture in distributed data processing computers. The company has only made one sale to date, but has an order backlog for its unique product and expects an almost vertical growth curve. The company has been courted seriously by... View Details
    Keywords: Global Strategy; Business Startups; Computer Industry; France; United Kingdom
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    Bonoma, Thomas V. "Concept Devices, Inc.: International Market Entry." Harvard Business School Case 582-052, October 1981. (Revised June 1982.)
    • December 1998 (Revised January 2001)
    • Case

    Acer, Inc.: Taiwan's Rampaging Dragon

    By: Christopher A. Bartlett and Anthony St. George
    Describes the strategic, organizational, and management changes that led Acer from its 1976 startup to become the world's second-largest computer manufacturer. Outlines the birth of the company, the painful "professionalization" of its management, the plunge into... View Details
    Keywords: Organizational Change and Adaptation; Leadership; Competitive Advantage; Global Strategy; Transformation; Computer Industry; Taiwan
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    Bartlett, Christopher A., and Anthony St. George. "Acer, Inc.: Taiwan's Rampaging Dragon." Harvard Business School Case 399-010, December 1998. (Revised January 2001.)
    • 13 Nov 2014
    • News

    Going Against the Flow: Michelle Zatlyn, Cofounder of CloudFlare

    • September 2021 (Revised November 2022)
    • Case

    MAYA Capital

    By: Robert F. White, Carla Larangeira and Pedro Levindo
    MAYA Capital co-founders Lara Lemann and Monica Saggioro raised $41.5 million through a series of closings for their early-stage Latin American venture capital fund. The two women had met for the first time in mid-2016 when Lemann was contemplating scaling her angel... View Details
    Keywords: Early Stage; Portfolio Construction; Fund Management; Investment; Entrepreneurship; Venture Capital; Investment Portfolio; Strategy; Business Startups; Management; Investment Funds; Latin America
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    White, Robert F., Carla Larangeira, and Pedro Levindo. "MAYA Capital." Harvard Business School Case 822-038, September 2021. (Revised November 2022.)
    • 09 Aug 2016
    • First Look

    August 9, 2016

    Abstract—We examine immigrant entrepreneurship and the survival and growth of immigrant-founded businesses over time relative to native-founded companies. Our work quantifies immigrant contributions to new firm creation in a wide variety... View Details
    Keywords: Sean Silverthorne
    • 26 Apr 2011
    • First Look

    First Look: April 26

    business manager. Publisher's Link: http://www.pearsonhighered.com/educator/product/Management-Accounting-Information-for-DecisionMaking-and-Strategy-Execution/9780137024971.page Who Benefits from Religion? Authors:Daniel Mochon, Michael... View Details
    Keywords: Sean Silverthorne
    • May 2016 (Revised June 2017)
    • Case

    Sales Compensation Vignettes

    By: Frank V. Cespedes
    This case study is comprised of two vignettes about startup companies considering whether and how to change their sales compensation plans. ElMenus.com is a restaurant app venture in Egypt seeking to lower customer churn while confronting new competition. BigBelly is a... View Details
    Keywords: Compensation; Sales; Strategy
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    Cespedes, Frank V. "Sales Compensation Vignettes." Harvard Business School Case 816-092, May 2016. (Revised June 2017.)
    • 12 Apr 2013
    • News

    Conversations Can Save Companies

    • April 2019 (Revised July 2019)
    • Case

    Aperture Investors

    By: Krishna G. Palepu, George Serafeim and David Lane
    Aperture Investors is a startup investment firm that seeks to disrupt the asset management industry through competitive differentiation by charging investors primarily when its portfolio managers outperform the marketplace. Headed by Wall Street veteran Peter Kraus and... View Details
    Keywords: Business Model; Talent and Talent Management; Investment; Investment Funds; Asset Management; Recruitment; Selection and Staffing; Marketing Channels; Emerging Markets; Partners and Partnerships; Motivation and Incentives; Financial Services Industry
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    Palepu, Krishna G., George Serafeim, and David Lane. "Aperture Investors." Harvard Business School Case 119-053, April 2019. (Revised July 2019.)
    • December 2020
    • Supplement

    VIA Science (B)

    By: Juan Alcácer, Rembrand Koning, Annelena Lobb and Kerry Herman
    Via (a) captures the early days of the data analytics startup as founders Gounden and Ravanis considered which markets offer the right opportunities for their firm and what kinds of experiments will help them narrow their choice. Supplement Via (b) reveals the... View Details
    Keywords: Data Analytics; Machine Learning; Artificial Intelligence; Strategy; Business Startups; AI and Machine Learning; Telecommunications Industry; Utilities Industry; United States; Japan
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    Alcácer, Juan, Rembrand Koning, Annelena Lobb, and Kerry Herman. "VIA Science (B)." Harvard Business School Supplement 721-368, December 2020.
    • September 2018 (Revised December 2019)
    • Case

    Zebra Medical Vision

    By: Shane Greenstein and Sarah Gulick
    An Israeli startup founded in 2014, Zebra Medical Vision developed algorithms that produced diagnoses from X-rays, mammograms, and CT-scans. The algorithms used deep learning and digitized radiology scans to create software that could assist doctors in making... View Details
    Keywords: Radiology; Machine Learning; X-ray; CT Scan; Medical Technology; Probability; FDA 510(k); Diagnosis; Business Startups; Health Care and Treatment; Information Technology; Applications and Software; Competitive Strategy; Product Development; Commercialization; Decision Choices and Conditions; Health Industry; Medical Devices and Supplies Industry; Technology Industry; Israel
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    Greenstein, Shane, and Sarah Gulick. "Zebra Medical Vision." Harvard Business School Case 619-014, September 2018. (Revised December 2019.)
    • April 2020
    • Teaching Note

    Tailor Brands: Artificial Intelligence-Driven Branding

    By: Jill Avery
    Using proprietary artificial intelligence technology, startup Tailor Brands set out to democratize branding by allowing small businesses to create their brand identities by automatically generating logos in just minutes at minimal cost with no branding or design skills... View Details
    Keywords: Marketing; Brands and Branding; Marketing Strategy; Advertising Industry; Technology Industry; United States; North America
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    Avery, Jill. "Tailor Brands: Artificial Intelligence-Driven Branding." Harvard Business School Teaching Note 520-103, April 2020.
    • December 2012 (Revised October 2022)
    • Case

    Plastiq

    By: Jeffrey J. Bussgang, Gaurav Jain, Liroy Haddad, Luke Langford and Matt Noble
    The young CEO of a venture-backed startup needs to figure out his go to market strategy and the right profile for his first key sales hires. Should he develop partnerships with channels that would provide leverage or build out a direct sales force? And should the sales... View Details
    Keywords: Payments; Sales; Channels; Credit Cards; Digital Platforms; Selection and Staffing; Cost vs Benefits; Salesforce Management; Marketing Channels; Business Startups; Business Strategy; Marketing Strategy; Partners and Partnerships; Management Systems
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    Bussgang, Jeffrey J., Gaurav Jain, Liroy Haddad, Luke Langford, and Matt Noble. "Plastiq." Harvard Business School Case 813-125, December 2012. (Revised October 2022.)
    • 01 Oct 2019
    • News

    Today’s venture capitalists owe something to 19th-century whalers

    • October 2011 (Revised September 2014)
    • Case

    Paddle8: Painting a New Picture of the Art Market

    By: Mukti Khaire
    The Paddle8 case is a short case that presents the idea for a new business in the global art market and asks students to evaluate whether it will work, given the structure and unique workings of the art market. Paddle8 is a New York-based startup that partners with... View Details
    Keywords: Arts; Business Plan; Business Startups; Corporate Entrepreneurship; Internet and the Web; Trade; Fine Arts Industry; New York (city, NY)
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    Khaire, Mukti. "Paddle8: Painting a New Picture of the Art Market." Harvard Business School Case 812-047, October 2011. (Revised September 2014.)
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