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Imran Khan

๐Ÿ‘ค Speaker
513 total appearances

Appearances Over Time

Podcast Appearances

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why the IPO Market is not Closed | Why Revenue Multiples are BS and Founders Need to Change | Advice From Jack Ma, Jamie Dimon and Evan Spiegel | Lessons from Taking Snap & Alibaba Public with Imran Khan

At the end of the day, they read all the documents, they believe that you disclose everything, and they trust you. That's why they're giving you capital. And that's why when the trust breaks, Jamie Dimon, you know, in 2007, when I became J.P. Morgan managing director, he said, you know, that there was a time the financial crisis was happening.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why the IPO Market is not Closed | Why Revenue Multiples are BS and Founders Need to Change | Advice From Jack Ma, Jamie Dimon and Evan Spiegel | Lessons from Taking Snap & Alibaba Public with Imran Khan

At the end of the day, they read all the documents, they believe that you disclose everything, and they trust you. That's why they're giving you capital. And that's why when the trust breaks, Jamie Dimon, you know, in 2007, when I became J.P. Morgan managing director, he said, you know, that there was a time the financial crisis was happening.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why the IPO Market is not Closed | Why Revenue Multiples are BS and Founders Need to Change | Advice From Jack Ma, Jamie Dimon and Evan Spiegel | Lessons from Taking Snap & Alibaba Public with Imran Khan

The two Bear Stern hedge fund went bankrupt, you know, and I was a young MD. I didn't really understand the consequences of that two hedge fund going bankrupt that ultimately figured out a lot of different things. And he said something very good. It takes 100 years to build a trust, but one year, one day to destroy all the trust that you built. and stays with me.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why the IPO Market is not Closed | Why Revenue Multiples are BS and Founders Need to Change | Advice From Jack Ma, Jamie Dimon and Evan Spiegel | Lessons from Taking Snap & Alibaba Public with Imran Khan

The two Bear Stern hedge fund went bankrupt, you know, and I was a young MD. I didn't really understand the consequences of that two hedge fund going bankrupt that ultimately figured out a lot of different things. And he said something very good. It takes 100 years to build a trust, but one year, one day to destroy all the trust that you built. and stays with me.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why the IPO Market is not Closed | Why Revenue Multiples are BS and Founders Need to Change | Advice From Jack Ma, Jamie Dimon and Evan Spiegel | Lessons from Taking Snap & Alibaba Public with Imran Khan

The two Bear Stern hedge fund went bankrupt, you know, and I was a young MD. I didn't really understand the consequences of that two hedge fund going bankrupt that ultimately figured out a lot of different things. And he said something very good. It takes 100 years to build a trust, but one year, one day to destroy all the trust that you built. and stays with me.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why the IPO Market is not Closed | Why Revenue Multiples are BS and Founders Need to Change | Advice From Jack Ma, Jamie Dimon and Evan Spiegel | Lessons from Taking Snap & Alibaba Public with Imran Khan

So the reality is, if you think you're gonna go public, you should go build relationship, tell your story, show your performance over the years. I said that, I did that. That builds trust, and that's a good business practice. But that has little to do with IPO.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why the IPO Market is not Closed | Why Revenue Multiples are BS and Founders Need to Change | Advice From Jack Ma, Jamie Dimon and Evan Spiegel | Lessons from Taking Snap & Alibaba Public with Imran Khan

So the reality is, if you think you're gonna go public, you should go build relationship, tell your story, show your performance over the years. I said that, I did that. That builds trust, and that's a good business practice. But that has little to do with IPO.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why the IPO Market is not Closed | Why Revenue Multiples are BS and Founders Need to Change | Advice From Jack Ma, Jamie Dimon and Evan Spiegel | Lessons from Taking Snap & Alibaba Public with Imran Khan

So the reality is, if you think you're gonna go public, you should go build relationship, tell your story, show your performance over the years. I said that, I did that. That builds trust, and that's a good business practice. But that has little to do with IPO.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why the IPO Market is not Closed | Why Revenue Multiples are BS and Founders Need to Change | Advice From Jack Ma, Jamie Dimon and Evan Spiegel | Lessons from Taking Snap & Alibaba Public with Imran Khan

The IPO process is you go through this two, you file a document, people read it, and then you go through this two weeks grueling roadshow, you do 60 meetings, After those meetings, people read your prospectus. They may or may not know you from past. They do their own analyst call, market research, and then they put indication that they want to buy the stock.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why the IPO Market is not Closed | Why Revenue Multiples are BS and Founders Need to Change | Advice From Jack Ma, Jamie Dimon and Evan Spiegel | Lessons from Taking Snap & Alibaba Public with Imran Khan

The IPO process is you go through this two, you file a document, people read it, and then you go through this two weeks grueling roadshow, you do 60 meetings, After those meetings, people read your prospectus. They may or may not know you from past. They do their own analyst call, market research, and then they put indication that they want to buy the stock.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why the IPO Market is not Closed | Why Revenue Multiples are BS and Founders Need to Change | Advice From Jack Ma, Jamie Dimon and Evan Spiegel | Lessons from Taking Snap & Alibaba Public with Imran Khan

The IPO process is you go through this two, you file a document, people read it, and then you go through this two weeks grueling roadshow, you do 60 meetings, After those meetings, people read your prospectus. They may or may not know you from past. They do their own analyst call, market research, and then they put indication that they want to buy the stock.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why the IPO Market is not Closed | Why Revenue Multiples are BS and Founders Need to Change | Advice From Jack Ma, Jamie Dimon and Evan Spiegel | Lessons from Taking Snap & Alibaba Public with Imran Khan

90%, a good IPO. If it's less than 50%, it's going to be hard to do an IPO. What sort of percent was Alibaba? What sort of percent was Snap? Both were pretty close to 90%. Wow. Yeah, they're very high. Have you had one that was incredibly low? Yeah, as in my banker career, yes. And we had to pull the IPO.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why the IPO Market is not Closed | Why Revenue Multiples are BS and Founders Need to Change | Advice From Jack Ma, Jamie Dimon and Evan Spiegel | Lessons from Taking Snap & Alibaba Public with Imran Khan

90%, a good IPO. If it's less than 50%, it's going to be hard to do an IPO. What sort of percent was Alibaba? What sort of percent was Snap? Both were pretty close to 90%. Wow. Yeah, they're very high. Have you had one that was incredibly low? Yeah, as in my banker career, yes. And we had to pull the IPO.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why the IPO Market is not Closed | Why Revenue Multiples are BS and Founders Need to Change | Advice From Jack Ma, Jamie Dimon and Evan Spiegel | Lessons from Taking Snap & Alibaba Public with Imran Khan

90%, a good IPO. If it's less than 50%, it's going to be hard to do an IPO. What sort of percent was Alibaba? What sort of percent was Snap? Both were pretty close to 90%. Wow. Yeah, they're very high. Have you had one that was incredibly low? Yeah, as in my banker career, yes. And we had to pull the IPO.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why the IPO Market is not Closed | Why Revenue Multiples are BS and Founders Need to Change | Advice From Jack Ma, Jamie Dimon and Evan Spiegel | Lessons from Taking Snap & Alibaba Public with Imran Khan

And that happens, you know, and it happened because the business is bad or it happens because the market is bad. And then they set the price with that bid? So the way the pricing works, you know, there's three kind of different IPOs, right? Traditional IPO, auction IPO that Google did, and I think somebody else did, and then direct listing that few companies did.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why the IPO Market is not Closed | Why Revenue Multiples are BS and Founders Need to Change | Advice From Jack Ma, Jamie Dimon and Evan Spiegel | Lessons from Taking Snap & Alibaba Public with Imran Khan

And that happens, you know, and it happened because the business is bad or it happens because the market is bad. And then they set the price with that bid? So the way the pricing works, you know, there's three kind of different IPOs, right? Traditional IPO, auction IPO that Google did, and I think somebody else did, and then direct listing that few companies did.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why the IPO Market is not Closed | Why Revenue Multiples are BS and Founders Need to Change | Advice From Jack Ma, Jamie Dimon and Evan Spiegel | Lessons from Taking Snap & Alibaba Public with Imran Khan

And that happens, you know, and it happened because the business is bad or it happens because the market is bad. And then they set the price with that bid? So the way the pricing works, you know, there's three kind of different IPOs, right? Traditional IPO, auction IPO that Google did, and I think somebody else did, and then direct listing that few companies did.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why the IPO Market is not Closed | Why Revenue Multiples are BS and Founders Need to Change | Advice From Jack Ma, Jamie Dimon and Evan Spiegel | Lessons from Taking Snap & Alibaba Public with Imran Khan

But let's talk about traditional IPO because that's the vast majority of it. So once you file it based on the comps, based on some of the public feedback that you hear, the company with the partnership with the banks set the price range.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why the IPO Market is not Closed | Why Revenue Multiples are BS and Founders Need to Change | Advice From Jack Ma, Jamie Dimon and Evan Spiegel | Lessons from Taking Snap & Alibaba Public with Imran Khan

But let's talk about traditional IPO because that's the vast majority of it. So once you file it based on the comps, based on some of the public feedback that you hear, the company with the partnership with the banks set the price range.

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Why the IPO Market is not Closed | Why Revenue Multiples are BS and Founders Need to Change | Advice From Jack Ma, Jamie Dimon and Evan Spiegel | Lessons from Taking Snap & Alibaba Public with Imran Khan

But let's talk about traditional IPO because that's the vast majority of it. So once you file it based on the comps, based on some of the public feedback that you hear, the company with the partnership with the banks set the price range.