Linda Gridley, president and CEO of Gridley & Co., and Santo Politi, founder and general partner of Spark Capital, provided an overview of the Big Apple’s digital technology landscape.
In a presentation titled, “Taking a Big Bite out of the Big Apple,” Gridley summed up 2010 so far:
- Stronger overall tone in the marketing and advertising market.
- More talent-driven acquisitions, such as Google’s takeover of Slide and Facebook’s acquisition of Hot Potato.
- In the IPO market, there’s a high, pent-up demand for digital assets.
- The hot digital themes have been mobile, content, digital agency consolidation, ad optimisation, e-commerce and gaming.
Speaking specifically of New York, Gridley called the city the center of the ad ecosystem. “The support system for ad tech in New York City is unparalleled.”
Her advice to sellers is to consider transactions that will broaden their offerings, act early (the 2011 mergers-and-acquisitions market might get crowded) and be reasonable on valuation if they’re in a crowded sector. Buyers, meanwhile, should consider all potential acquisition candidates, not just those listed...