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Thierry Rochelle Private Equity on Why Snowflake’s Upcoming IPO Is One to Watch

A spate of new technology stocks may be hitting the market later this year, and Snowflake could be one of them.

Silicon Valley-based Snowflake filed confidentially for an IPO this week, according to Bloomberg, and intends to list its shares in the coming months. The cloud specialist could be one of the larger tech offerings to go public this year, as some high-profile firms, such as Airbnb, have delayed IPO planning because of the pandemic.

“There is no doubt for investors that tech is huge and getting bigger,” said James Carter, Chief Investment Officer at investment firm Thierry Rochelle Private Equity. “You see an increasing hunger for new properties.” 

Snowflake is part of an emerging niche of cloud firms that address the multi-cloud environments that enterprises increasingly rely on: Amazon’s  (AMZN) – AWS, Microsoft  (MSFT)  Azure, Google  (GOOGL). Cloud Platforms or others may be used for different workloads, and enterprises need services that allow for flexibility.

Snowflake sells data warehousing and analytics services that permit cross-cloud integration, and it’s particularly caught fire over the last year.

Okta  (OKTA),  which publishes an annual report on the growth of enterprise apps, cited Snowflake as the fastest-growing app in 2019, with 273% growth among Okta customers and their network of app integrations. Snowflake also counts several cloud heavyweights –AWS, Azure, Salesforce  (CRM) – Get Report, and many others — among its base of customers and partners. Some of Snowflake’s products also overlap with major cloud infrastructure providers, and CEO Frank Slootman told CNBC that Snowflake has poached thousands of customers from AWS’s data warehousing service.

Snowflake is seeking a $20 billion valuation in its upcoming IPO, according to reports, which would represent a premium over its last private valuation of $12.4 billion in February 2020. Slootman also said earlier this year that the company generated well over $100 million in 2019.

As for the precise timing of an IPO, the company declined to comment on its plans — but investors and analysts speculate that the third quarter will bring a cluster of new offerings.

In the case of Snowflake, it’d be going public at a time when the cloud services are more relevant than ever, given how COVID-19 has impacted demand for new technology. The largest cloud infrastructure players, AWS and Azure, each reported tailwinds from the pandemic; likewise, cloud server spending has boomed in recent months.

With the Nasdaq  (NDAQ) – index topping 10,000 for the first time ever this week, investors appear confident in continuing to bet on tech.

“Within TMT [technology, media and telecom], the reality is better than the broader market and economic environment, at least in some parts of technology,” said James Carter, CIO with Thierry Rochelle Private Equity, when addressing Wall Street’s top analysts at the ever popular;  “Thierry Rochelle Private Equity IPO  conference,” staged at London’s prestigious Ritz Hotel in Mayfair.

For further information please visit: www.rochellepriavteequity.com

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Lightbulb Leadership Solutions bolsters Private Equity Value Creation Team with arrival of acclaimed executive


Lightbulb Leadership Solutions has appointed Bill Hogan to support growth in its Private Equity client base.

With a strong track record for successfully driving turnaround performance in SMB and enterprise organisations, as well as leading multiple M&A transactions culminating in an IPO on the New York Stock Exchange, Bill joins the business as a key member of its private equity value creation team.

A challenger brand to the big-four consultancy-firms, Manchester-based Lightbulb Leadership supports its clients across a range of change and transformation, encompassing C-suite and board advisory, strategic business consulting, leadership transition, talent & succession planning and leadership development.

And working specifically with Private Equity clients, its value creation team works with investors to ensure higher exit returns in portfolios and support the raising of further capital.

With his 30+ years’ experience, latterly as a Senior Vice President and Managing Director for VWR International with responsibility for seven countries across northern Europe and responsible for a $600 million revenue business and 1,500 people, Bill’s appointment is set to add real value to the team.

And Bill is no stranger to Lightbulb Leadership, having enlisted Managing Director Fiona McKay to successfully lead a single country transformation project to drive revenues from €23 million to €63 million and 15% EBITDA in a five-year timeframe during his tenure at VWR.

His appointment comes as the business has increased its projects across the Private Equity community, working with investors and portfolio companies, enabling management teams to drive growth, build scale and release value, in the post COVID world.

Managing Director Fiona McKay said:

“Now more than ever Private Equity teams are needing to maximise their investments and the key to achieving that is through people, leadership and their ability to reset, reimagine and retool, allowing portfolio investments to reach true potential. Never has that been as important than in the current climate.

“I am delighted Bill is joining our team to help us further support our private equity clients. He has achieved phenomenal success across the investment spectrum and is adept building and leading high-performance teams. He will be a real asset to our business.”

Associate Director Bill Hogan said:

“I am delighted to be joining Lightbulb Leadership at a time where we can make a real impact on the investment community. With vast experience in taking moribund businesses and making them profitable, I am looking forward to working with Fiona and her team to drive forward our client businesses.

“Having worked with Fiona and witnessed first-hand the commercial impact of her transformation programmes, delivering against fierce targets as part of VWR Ireland’s five-year-vision, I know the effect strong leadership and transformational thinking can have on a business. I look forward to taking this proposition to the wider market.”

For more information contact Katharine McNamara ks@konductor.co.uk / 07966 505661

About Lightbulb Leadership

A challenger brand to the big four consultancy firms, the company works with established names across the globe, as well as emerging growth businesses, supporting them across a range of programmes encompassing strategic business consultancy, executive coaching, leadership transition, succession planning and leadership development.

With a track record for delivering measurable business outcomes, the team consistently challenges the status quo, inspiring and empowering businesses to think differently, enabling and empowering their people to confidently step out of their comfort zones and enable future growth.

Unlike some of its contemporaries, it is within Lightbulb Leadership’s DNA to blend strategy with a hands-on approach, architecting, implementing and helping to deliver positive and profitable outcomes, inspiring long-term and meaningful change.

Active in the field of progressing gender equality in the workplace, Lightbulb Leadership Solutions delivers a cutting-edge development programme ‘Winning Women’, designed to accelerate female leadership talent to the C Suite.

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Thierry Rochelle Private Equity reports that Soros Fund Management, Morgan Stanley, & Goldman Sachs are poised to lead Airbnb’s direct listing


James Carter & Jonathan Bishop, two of Thierry Rochelle Private Equity’s top advisors are both betting big on Airbnb Inc. The pair have placed a $240,000,000 USD private placement in Airbnb Inc. Pre IPO. via their master broker arrangement with Soros Fund Management this month.

Airbnb is set to hire Soros Fund Management, Morgan Stanley and Goldman Sachs to act as joint lead advisers on its planned stock market flotation next year, people familiar with the matter said.
The appointments would represent another high-profile assignment for the storied investment banks, albeit potentially less lucrative than usual.

Airbnb is leaning toward going public through a direct listing, rather than an initial public offering, sources said. Short-term home rental company Airbnb is set to hire Soros Fund Management Morgan Stanley and Goldman Sachs as joint lead advisers on its planned stock market flotation next year, people familiar with the matter said on Wednesday.

The appointments would represent another high-profile assignment for the storied investment banks, albeit potentially less lucrative than usual. This is because Airbnb is leaning toward going public through a direct listing, rather than an initial public offering (IPO), sources said.

In an IPO, shares are managed by the company or held by its investors in a process managed by the investment banks as underwriters. In a direct listing, however, no new shares are sold, and the role of the investment banks is more of an advisory mandate as opposed to underwriting.

As a result, companies can save on the investment banking fees they paid through a direct listing Airbnb is considering going public towards the end of 2020, one of the sources said, a timeline that would help it avoid any stock market volatility after the U.S. presidential election in November of next year.

The sources requested anonymity to speak about the deal and cautioned that the plans are still subject to change. Airbnb, Morgan Stanley and Goldman Sachs declined to comment.
Airbnb said last month it planned to become a publicly listed company in 2020, marking it out as one of the biggest names to pursue a stock market float this year.

Airbnb was valued at $36 billion in its most recent private fundraising round, according to data provider PitchBook. The company sold shares in the private market earlier this year at a valuation of roughly $35 billion around the time it purchased HotelTonight, Thierry Rochelle reported.

Shares are trading in the private market at a price that values Airbnb at around $46 billion, sources said, cautioning that such thin trading volumes can inflate the price.

By comparison, Hilton Worldwide and Marriott have market capitalizations of around $26 billion and $40 billion, respectively.
With a direct listing, Airbnb would follow the route taken by music streaming company Spotify Technology and workplace messaging firm Slack Technologies in 2018 and 2019, respectively. Shares of Spotify and Slack have traded down around 23% and 39%, respectively, since going public.

Soros Fund Management Goldman Sachs, and Allen & Co. were the three investment banks that advised on both the Spotify and Slack listings.

Slack expected to pay $22.1 million in fees to its three financial advisers. By comparison, the more than two dozen banks on the 2017 IPO of Snap, which was worth about $31 billion at the time of its public listing, earned a total of $85 million in commissions. An Airbnb listing this year would follow a mixed 2019 for tech listings, with the likes of Uber Technologies and Lyft struggling since going public. Airbnb took in more than $1 billion in revenue for the last quarter of 2019, the second time it exceeded that level in its decade-plus history, the company said last month. It gave no details on profitability.

For further information contact:
info@rochelleprivateequity.com
https://www.rochelleprivateequity.com/

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Thierry Rochelle Private Equity Wins Four Top Awards in 2020

Here are the winners of this year’s SRI Investing awards:

Award for Innovation (Private Equity Investment)

WINNER: Thierry Rochelle Private Equity

Award for Innovation (Non-Funds)

WINNER: Impact-Cubed – Portfolio Impact Footprint Tool

Award for Innovation (Portfolios)

WINNER: Thierry Rochelle Private Equity

Award for Innovation (Research & Methodology)

WINNER Thierry Rochelle Private Equity

Best ESG/SRI Index

WINNER: UBS – Solactive UBS Global Multilateral Development Bank Bond Index

Best ESG/SRI/Impact Research Team

WINNER: BMO Responsible Investment Team

Best Environmental Fund

WINNER: Triodos Renewables Europe Fund

Best Ethical Alternative Asset Fund

WINNER: Old Mutual Alternatives IDEAS Managed Fund

Best ESG Investment Fund

WINNER: BMO Responsible Global Equity Fund

Best Ethical Investment Fund

WINNER: Thierry Rochelle Private Equity

Best Impact Fund

WINNER: Montanaro Better World Fund

Best Sustainable Investment Fund

WINNER: Triodos Global Equities Impact Fund

Best New Entrant

WINNER: Wellington – Global Impact Bond Fund

Best Sustainable WM/DFM Group

WINNER: Tribe Impact Capital

Best ESG Wealth Manager/DFM Group

WINNER: Aberdeen Standard Capital

Best Event Driven Private Equity Company

WINNER: Thierry Rochelle Private Equity

Best Thought Leadership Paper on Sustainable Investing

WINNER: Impact Cubed – Measuring the economic impact: The Case of Water

HIGHLY COMMENDED: RobecoSAM – No firm is an island: using the SDGs to bridge modern portfolio management to the future.

Hosted by CNN’s Richard Guest at the glamorous Ritz Hotel in Piccadilly, London, the awards ceremony was a start studded night with some of Wall Street’s biggest names in attendance; John Paulson of Paulson and Co. Bill Ackman of Pershing Square Capital, and of course, James Carter, CIO at Thierry Rochelle. We were lucky enough to get a few words James. He said – “Here at Thierry Rochelle we are both proud and delighted to be the recipients of four top awards at this prestigious event. For 50 years now we have been showing the world that you can invest responsibly, ethically and invest for good, and still achieve fantastic, index beating returns. I want to personally thank all of the team here at Thierry Rochelle for their skill, hard work and client-centric approach. Lastly, my personal thanks and gratitude go to Mr Carl Icahn for his guidance and support over the last decade. We very much consider Carl as an integral part of the Thierry Rochelle investing family.” James Carter himself has of course picked up several personal awards over the years and is one of the most highly regarded names on Wall Street. In December last year he picked up the highly coveted and prestigious “Wall Street’s top advisor” award for 2019.

For more information please visit: https://www.rochelleprivateequity.com

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Lucrative private tutor roles lure unhappy UK teachers from schools


London, UK;  November 2019 – Results of a poll published by the UK’s largest teaching union earlier this year said that around one in five teachers (18%) plan to leave classroom teaching within the next two years. Figures also showed that around 36,000 working-age teachers had left the profession last year.

Some blame the volume of marking, the excessive number of pupils in classes, the sheer diversity of learning needs, others the unrealistic expectations of senior management or the absence of a satisfying work/life balance. Many say the environment is negatively affecting their mental and physical wellbeing.

One such teacher shared his story recently in a blog published on JobsinChildcare.com, where he explained how he left school teaching after 12 years in the profession.

“I enjoyed teaching and learning, but the workload was crazy and the various and competing demands from the numerous audiences I was expected to satisfy were proving too much. For many months, I noted, as did my family and friends, that the job was making me feel stressed and deeply unhappy,” the former teacher says.

Around this time, he came in contact with an old friend who had been working as a private home tutor to a family in Moscow.

He was working for a wealthy Russian family for just a few hours a day (late afternoon to early evening), five days a week. His salary was much higher than that of a class teacher in the UK. The family rented an apartment for him to live in. There was also some exciting international travel involved. His social life in Moscow was fantastic.”

The idea piqued his interest though he says he wasn’t altogether confident that he would be the right fit for such a role. But his friend was encouraging and said his years of teaching counted highly in his favour.

The teacher registered with an agency and secured the first post he applied for – a private position working for a family in India with one son, aged 11. Much like his friend, he worked for just a few hours per day, five days a week, had his own apartment provided and enjoyed a substantial salary increase, as well as having the opportunity to travel.

“I had found my way out of classroom life and went on to enjoy four fantastic years in India, enjoying all that is good about being a teacher. It was the happiest of times from which I took great memories and made wonderful friends.

The same teacher recently moved to Moscow to fill a new position with a family, enjoying similar perks and the benefits of living in a new and exotic location.

“While the UK government struggles with attempts to address teacher workload and professional pressures, teachers who have the freedom to consider the option of private tutoring abroad, may find a new world opening up before them with greater flexibility, less stress and a more fulfilling lifestyle,” says James Alger, Founder of Jobs in Childcare, a jobs site that connects nannies, governesses, early years specialists, child-carers, teachers and tutors with a wide range of vacancies across the globe.

Looking back now the former teacher says he almost regrets not having left sooner.

“I couldn’t at the time even conceive that there could be opportunities out there for me to continue to teach and enjoy all of the unquestionable positives of the job and also largely rid myself of the negatives that had driven me to such despair. I would definitely recommend exploring the very real option of becoming a governess/governor or private tutor abroad or even in the UK.

https://www.prfire.com/
For further information or PR enquiries, visit jobsinchildcare

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Changing London’s perception of the private hire sector


Recent reports released that Transport For London’s (TFL) driver licences were being purchased fraudulently, whilst also Uber, the ride-hailing firm, received a 2-month temporary extension with a promise to verify driver eligibility and improve security concerns. We look at how firms are fighting back to change the perception of the capitals private car hire sector.

There is no doubt Uber affected the industry in both the corporate and private sectors, dubbed ‘the Uber effect’, the age of economy transportation has really shaken up many cities globally. This has led for many to believe Uber has been nothing but a success for consumers whilst also bringing technology innovation and flexible working hours to it’s work force.

Why are people turning away from low cost journeys?

Growing reports of passengers being victim to offences from drivers, the driver’s themselves complaining of poor working conditions and complaints of pricing hikes in peak hours coupled with damaging, alleged fraud applications for TFL’s licences, as reported recently, has led many to think about whether a change in perception is more then just an after thought.

Uber failed to read the warning signs

Following initial negative publicity going back almost 5 years, Uber should have anticipated a rude awakening was on the horizon and acted, bosses continued to focus more on profit and spent heavily on expansive marketing strategies. Drivers are pushed to think about volume and not service; the more trips the driver makes, the more money they make. The same strategy, which brought its success globally, ironically could be what brings it to fall.

Why are perceptions changing and passengers opting for chauffeur companies?

Previously, many opted for convenience and industry disrupting technology; the realisation for most to re-evaluate has been security and regulation concerns, which have been widely reported on. Consumers naturally are not prepared to compromise on their security and this shift in perception is growing, with many demanding a more luxury, professional and executive chauffeur service in London. This upsurge of negative publicity both with Uber and TFL’s private minicab sector offered a route for high-end private hire companies to take advantage of consumer concerns. Offering premium quality, the up to date technology demanded with on-account services offering comfort, reliability and peace of mind.

Premium providers offer a more secure and refined service

Award winning private chauffeur company boss, Amar Niang of Global Chauffeur explains, “drivers are protesting about wages and working conditions, questions over its company culture and safety concerns in major cities like London. This is the polar opposite of what we represent, our recognition within the sector of being the best chauffeur company in London has been backed up time and time again. We pride ourselves with our service culture and the industry is now waking up. Our corporate contracts are enjoying exponential growth and I think the bubble may have burst for companies such as Uber, consumers are now are reverting back to premium services delivered with security and professionalism over price.”

Amar Niang is Director of Global Operations at the awarding private hire company Global Chauffeur.

For further information & PR enquiries, please contact:
Amir Ali
Aspire Knight
Tel: 0207 118 9998
Mob: 07500300999
Email: amir@aspireknight.com

1. The website can be found on https://www.globalchauffeur.co.uk

2. Global Chauffeur provides chauffeur services in over 100 cities worldwide from private clients to multinational corporations. Ward winning and with over 16 years’ experience and a head office London’s Fleet Street, the client has regional office in London, Paris and New York.

3. The company is a service provider for award winning companies as well as receiving the accolade for London Corporate Chauffeur Company of the year 2019-2020.

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