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  • All HBS Web  (3,290)
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  • April 2017
  • Article

Financing Risk and Innovation

By: Ramana Nanda and Matthew Rhodes-Kropf
We provide a model of investment into new ventures that demonstrates why some places, times, and industries should be associated with a greater degree of experimentation by investors. Investors respond to financing risk―a forecast of limited future funding―by modifying... View Details
Keywords: Risk and Uncertainty; Financing and Loans; Innovation and Invention
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Nanda, Ramana, and Matthew Rhodes-Kropf. "Financing Risk and Innovation." Management Science 63, no. 4 (April 2017): 901–918.
  • 18 Feb 2016
  • Blog Post

Honing an Interest in Healthcare at HBS

After five years working in venture capital and private equity, Laura Little (MBA 2015) was eager to make a career change. With a budding interest in early-stage healthcare, Laura enrolled at HBS to pursue... View Details

    Reza R. Satchu

    Reza Satchu is a Senior Lecturer in... View Details

    • December 1999
    • Case

    Sendwine.com

    By: Thomas R. Eisenmann, Charmaine C Ess and Ann A. O'Hara
    Sendwine.com, an online retailer of premium gifts of wine by the bottle, faced decisions about its growth strategy in mid-1999. Mike Lannon, president and founder, had established his company as a prominent player in an increasingly crowded field. But with success came... View Details
    Keywords: Decision Choices and Conditions; Venture Capital; Financial Strategy; Problems and Challenges; Luxury; Diversification; Internet; Web Services Industry
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    Eisenmann, Thomas R., Charmaine C Ess, and Ann A. O'Hara. "Sendwine.com." Harvard Business School Case 800-211, December 1999.

      Vikram Gandhi

      Vikram S. Gandhi is the Gerald P. Kaminsky Senior Lecturer of Business Administration in the General Management Unit. He has developed and teaches two new courses in the Elective Curriculum of the MBA Program. The first is a finance and investing course, Sustainable... View Details

      Keywords: financial services
      • 04 Nov 2010
      • News

      Harvard a Hit in China, but India Proves Trickier

      • June 2018 (Revised April 2021)
      • Supplement

      Valuing Snap After the IPO Quiet Period

      By: Benjamin C. Esty, Marco Di Maggio and Greg Saldutte
      Keywords: Sell-side Analysts; Underwriters; Investment Banking; Social Network; Discounted Cash Flow; Cost Of Capital; Conflicts Of Interest; Corporate Governance; Advertising; Quiet Period; Business Startups; Digital Marketing; Initial Public Offering; Information Infrastructure; Valuation; Venture Capital; Forecasting and Prediction; Social Media; United States; California
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      Esty, Benjamin C., Marco Di Maggio, and Greg Saldutte. "Valuing Snap After the IPO Quiet Period." Harvard Business School Spreadsheet Supplement 218-726, June 2018. (Revised April 2021.)
      • June 2018
      • Supplement

      Valuing Snap After the IPO Quiet Period (B)

      By: Marco Di Maggio and Benjamin C. Esty
      Analyzes Snap’s value and analyst recommendations following the events described in the (A) case. View Details
      Keywords: Sell-side Analysts; Underwriters; Investment Banking; Social Network; Discounted Cash Flow; Cost Of Capital; Conflicts Of Interest; Corporate Governance; Advertising; Quiet Period; Business Startups; Digital Marketing; Initial Public Offering; Information Infrastructure; Valuation; Venture Capital; Forecasting and Prediction; Social Media; Advertising Industry; Entertainment and Recreation Industry; Web Services Industry; United States; California
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      Di Maggio, Marco, and Benjamin C. Esty. "Valuing Snap After the IPO Quiet Period (B)." Harvard Business School Supplement 218-096, June 2018.
      • January 2008 (Revised March 2009)
      • Case

      Framedia (A) Abridged

      By: Li Jin, Carliss Y. Baldwin, Li Liao, Huabing Li and Jielun Zhu
      Examines an acquisition in the highly competitive outdoor media advertising industry in China in late 2005. The transaction leads to eventual consolidation of the whole industry and positive stock reactions. Discusses equity consideration in the context of an M&A... View Details
      Keywords: Mergers and Acquisitions; Venture Capital; Equity; Private Equity; Corporate Governance; Emerging Markets; Organizations; Consolidation; Valuation; Advertising Industry; China
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      Jin, Li, Carliss Y. Baldwin, Li Liao, Huabing Li, and Jielun Zhu. "Framedia (A) Abridged." Harvard Business School Case 208-048, January 2008. (Revised March 2009.)

        Brian L. Trelstad

         

        Brian Trelstad is a Senior Lecturer at Harvard Business School in the General Management Unit and the Faculty Chair of the Advanced Leadership Initiative. He teaches elective courses on Social Entrepreneurship and Systems... View Details

        Keywords: venture capital industry; venture capital industry; venture capital industry; venture capital industry; venture capital industry; venture capital industry
        • November 2010 (Revised November 2017)
        • Case

        Washout: The Founders' Tale and the Investors' Tale

        By: Lena G. Goldberg and Chad M. Carr
        The competing narratives of the founders of Alantec, Inc. and the venture capitalists who funded the company are explored in the context of Kalashian v. Advent VI Ltd. a California Superior Court case. The founders of the company, which produced switches for computer... View Details
        Keywords: Business Startups; Venture Capital; Governance Controls; Governing and Advisory Boards; Lawsuits and Litigation; Managerial Roles; Ownership Stake; Business and Shareholder Relations; Conflict and Resolution; Technology Industry
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        Goldberg, Lena G., and Chad M. Carr. "Washout: The Founders' Tale and the Investors' Tale." Harvard Business School Case 311-078, November 2010. (Revised November 2017.)
        • April 2025
        • Case

        Kleiner Perkins (2019)

        By: Jo Tango and Srimayi Mylavarapu
        Kleiner Perkins, founded in 1972, quickly rose to prominence as one of Silicon Valley’s leading venture capital firms, earning a reputation for early investments in industry giants like Google, Amazon, and Citrix. However, a bold, strategic pivot to cleantech investing... View Details
        Keywords: Venture Capital; Investment Funds; Technological Innovation; Entrepreneurial Finance; Organizational Change and Adaptation; Financial Services Industry
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        Tango, Jo, and Srimayi Mylavarapu. "Kleiner Perkins (2019)." Harvard Business School Case 825-193, April 2025.
        • January 2014 (Revised October 2014)
        • Case

        Andreessen Horowitz

        By: Thomas R. Eisenmann and Liz Kind
        Andreessen Horowitz (a16z), a venture capital firm launched in 2009, has quickly broken into the VC industry's top ranks, in terms of its ability to invest in Silicon Valley's most promising startups. The case recounts the firm's history; describes its co-founders'... View Details
        Keywords: Business Model; Venture Capital; Disruption; Entrepreneurship; Industry Structures; Financial Services Industry; California
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        Eisenmann, Thomas R., and Liz Kind. "Andreessen Horowitz." Harvard Business School Case 814-060, January 2014. (Revised October 2014.)
        • January 2001 (Revised May 2010)
        • Case

        BP Amoco (A): Policy Statement on the Use of Project Finance

        By: Benjamin C. Esty and Michael Kane
        Following the BP/Amoco merger in December 1998, CFO David Watson asked Bill Young to recommend when and under what circumstances the firm should use external project finance instead of internal corporate funds to finance new capital investments. As part of this... View Details
        Keywords: Project Finance; Mergers and Acquisitions; Policy; Capital Budgeting
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        Esty, Benjamin C., and Michael Kane. "BP Amoco (A): Policy Statement on the Use of Project Finance." Harvard Business School Case 201-054, January 2001. (Revised May 2010.)
        • March 2009
        • Journal Article

        Does Individual Performance Affect Entrepreneurial Mobility? Empirical Evidence from the Financial Analysis Market

        By: Boris Groysberg, Ashish Nanda and M. Julia Prats
        Our paper contributes to the studies on the relationship between workers' human capital and their decision to become self-employed as well as their probability to survive as entrepreneurs. Analysis from a panel data set of research analysts in investment banks over... View Details
        Keywords: Entrepreneurship; Investment Banking; Retention; Human Capital; Performance Effectiveness; Banking Industry
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        Groysberg, Boris, Ashish Nanda, and M. Julia Prats. "Does Individual Performance Affect Entrepreneurial Mobility? Empirical Evidence from the Financial Analysis Market." Journal of Financial Transformation 25 (March 2009): 95–106.
        • 09 Jan 2020
        • News

        The open banking movement is inspiring consumers to ask who owns their banking data

        • 23 Oct 2020
        • Video

        Entrepreneurship Opportunities in a Post-COVID World: The Future of EdTech

        • September 2007 (Revised October 2010)
        • Case

        DermaCare: Zapping Zits Directly

        By: Richard G. Hamermesh and Lauren Barley
        DermaCare has developed an innovative new product for the treatment of acne that they hope to sell to consumers via direct-response television. The unconventional nature of the product and its distribution has led the company to seek angel financing. The Silicon Valley... View Details
        Keywords: Decision Choices and Conditions; Venture Capital; Investment; Innovation and Invention; Product; California
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        Hamermesh, Richard G., and Lauren Barley. "DermaCare: Zapping Zits Directly." Harvard Business School Case 808-064, September 2007. (Revised October 2010.)
        • October 2022
        • Case

        Beam Dental (A)

        By: Rembrand Koning and Alicia Dadlani
        In May 2014, Alex Frommeyer, cofounder and CEO of Kentucky-based Beam Dental, a seed-stage startup that developed connected toothbrushes that tracked brushing habits, needed to decide which strategy to pitch to a venture capital firm. The first pitch deck played to the... View Details
        Keywords: Business Startups; Business Strategy; Entrepreneurship; Financing and Loans; Presentations; Product Development; Insurance Industry; United States; Kentucky; Ohio
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        Koning, Rembrand, and Alicia Dadlani. "Beam Dental (A)." Harvard Business School Case 723-355, October 2022.
        • 17 Aug 2019
        • News

        Two worthy books trace the history of tech through Silicon Valley, leaving Seattle’s story still to be told

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