Episode 18: Special—An Acquirer’s View into M&A with Taylor Barada, head of Corp Dev at Adobe

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Aug 22, 2016

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Taylor Barada

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ADVICE

Invest in Lines, Not Dots

Build relationships with potential acquirers over time, similar to fundraising.
Focus on getting to know people and understanding their vision, not just selling.

INSIGHT

Focus on Fit, Not Just Sale

Starting a relationship with a potential acquirer shouldn't be solely focused on selling.
It's an opportunity to assess culture fit and whether the acquirer can accelerate your vision.

ANECDOTE

Culture Fit at Adobe

Adobe prioritizes culture fit, even walking away from billion-dollar deals due to mismatches.
Successful acquisitions often involve founders who embrace the acquirer's broader vision.

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Ben & David are joined by special guest Taylor Barada, VP and Head of Corporate Development & Strategic Partnerships at Adobe, to discuss how large tech acquirers approach buying companies. This episode is full of great insights for startups & entrepreneurs who might find themselves navigating the M&A process, as well as anyone curious about the craft of dealmaking and the strategic approach of large acquirers.

Sponsors:

WorkOS: https://bit.ly/workos25
Sentry: https://bit.ly/acquiredsentry
ServiceNow: https://bit.ly/acquiredsn

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Topics covered include:

How conversations begin between startups and acquirers
The importance of building a relationship with acquirers over time and "investing in lines, not dots” (just like raising VC)
The often under-appreciated role of culture fit between acquirers and acquisition targets
How entrepreneurs should evaluate acquirers throughout the M&A process
Two examples of successful acquisitions Taylor completed at Yahoo in Citizen Sports and IntoNow
The M&A process at large technology acquirers, from initial conversations to LOI, due diligence and the definitive merger agreement
The relative roles of Corp Dev, business/product owners and executive sponsors in the M&A process
Common mistakes startups (and VC’s) often make in the M&A process
Different “categories” of M&A that acquirers think about, and the relative risks & opportunities of “core" acquisitions vs transformative new businesses
What percentage of deals Adobe looks at actually happen, and the importance of being willing to say no
M&A as a tool for strategy, and the different M&A cultures & approaches at different companies
Tech themes Taylor and Adobe think about as part of their M&A strategy
Evaluating the longterm success of deals and the importance of the M&A integration function

Followups:

Ben & David’s quick take on Instagram Stories!

The Carve Out:

Ben: Why the Concorde failed by Vox
David: Simone Biles, the greatest gymnast of all time
Taylor: Mindset by Carol Dweck, Shoe Dog by Phil Knight, Originals: How Non-Conformists Move the World by Adam Grant
None this week… coverage of Instagram Stories to come next time!