The document discusses reasons for mergers and acquisitions (M&A). It notes acquirers seek to achieve goals like increasing revenue, users, products, and international reach through tactics like buying, building, or partnering with other companies. Key factors for M&A include acquiring a company's management/engineering team and revenue/cash flow. Valuation often focuses on creating enterprise value by complementing an existing product suite, especially for enterprise software which can plug into a buyer's distribution.

2. Sizhao Yang MyMiniLife Farmville Zynga
COO of BetterWorks
Co-founder of An embeddable virtual A farm game on Supporting new game
BetterWorks. Co-creator world. Think Sims. Facebook. strategy and international
of Farmville. Angel expansion.
investor in companies like
GroupMeand Hipmunk.
Investor in Facebook and
Zynga. Founder advisor at
SV Angels.

3. Why does M&A happen?
Acquirer goals
Ta da!
Key ingredients
Valuation metrics

4. Why do companies get sold?

5. ‚All men can see these tactics whereby I
conquer, but what none can see is the
strategy out of which victory is evolved.‛
- Sun Tzu //

6. Goals:
Revenue
Users
Product suite
International
Infrastructure
Team

7. ‚All I want to do is speed, speed.‛
- Miki Gorman
//

8. Tactics
Buy
Build
Partner

9. ‚I call my invention ‘The Wheel’ but so far
I’ve been unable to attract any venture
capital.‛ //

10. ‚Individual commitment to a group effort
- that is what makes a team work, a
company work, a society work, a
civilization work.‛ //

11. ‚The real definition of networking to me
is building relationships before you need
them.‛
- Any good networker //

12. Management and engineering team.
Revenue and cash flow.
Enterprise value creation by complementing a product suite.
Typically true with enterprise software. Plug in with existing distribution.

13. …
‚I'm dating a woman now who, evidently,
is unaware of it..‛
- Garry Shandling //

14. ‚Fishing is boring, unless you catch an
actual fish, and then it is disgusting.‛
- Dave Barry //

15. ‚All marriages are happy. It's the living
together afterward that causes all the
trouble.‛
- Raymond Hull //

16. ’ “ ”

17. Helping people solve M&A Find me @
Twitter : twitter.com/zamland
Email: zao@betterworks.com
WWW :betterworks.com