Entrepreneurship

October 2023

Insearch Ltd: Searching for a company to buy

By Simon Webster

By March 2022 Steve Webb had spent more than three years looking for a company to acquire. He was in final negotiations to buy a company, but he and the vendors did not see eye-to-eye on its valuation. Steve was also concerned about how to structure an offer. He was in a difficult financial situatio...

August 2023

Stepping out of lockdown: Launching a footwear brand during a pandemic

By Claudia Yoshinaga, Elisa Larroudé, John Mullins

Marina Larroudé stared glumly at all the crossings out on the proposed boots order for the autumn collection. Her husband Ricardo wanted to cut her suggestions by nearly half – in models, colours and quantities. Their fledgling shoe business had begun to a promising buzz a few months ago, but las...

March 2017

Raising capital for Financial Butler (B) (Chinese language)

By Bryan Stroube, Michael Bikard, Ken Mark

This case focuses on Nick Hungerford’s attempt to raise capital for his FinTech start-up, Financial Butler, (later renamed Nutmeg). The concept is a digital platform offering a revolutionary, transparent and fair service to an “untapped” market segment currently not served by wealth managers, ...

March 2017

Raising capital for Financial Butler (A) (Chinese language)

By Bryan Stroube, Michael Bikard, Ken Mark

This case focuses on Nick Hungerford’s attempt to raise capital for his FinTech start-up, Financial Butler, (later renamed Nutmeg). The concept is a digital platform offering a revolutionary, transparent and fair service to an “untapped” market segment currently not served by wealth managers, ...

May 2023

Nova Ventures: Searching for gems in the UK

By Luisa Alemany, Florin Vasvari

Zakib Sari, an aeronautical engineer and entrepreneur who had worked for Shell UK for several years, decided to pursue the entrepreneurship-through-acquisition path after his first year of the MBA programme at London Business School (LBS). In January 2016 he analysed several career options and concl...

May 2023

Tata Sky: Experimentation and adoption (B)

By Jessica Spungin, Julian Birkinshaw, Harit Nagpal

Harit Nagpal, Managing Director and CEO of Tata Sky Ltd, the largest satellite TV distribution platform in India, was returning from the Consumer Electronics Show 2017 in Las Vegas. What he had seen there was enough to make him question the viability of the business he headed. He did not want to thi...

March 2023

Finance for Entrepreneurial Companies: Financing Instruments – Technical Note (Spanish language)

By John Mullins, Robert M Johnson, Steve Pesenti

Brand valuation is the process of estimating the financial value of a brand. The valuation of brands as intangible assets emerged in the 1980s, when brands were first capitalized on post-M&A balance sheets. Brands are also valued for non-reporting purposes...

February 2023

Cree (C)

By John Mullins, Elizabeth Philp

Another four years had passed, and it was now April 2018. After two attempts to shut down the venture totally, Hubert Rhomberg’s father Walter-Heinz presented Hubert with an opportunity to buy their cash-burning company, CREE, for €1. CREE had been “his baby” for the better part of a decade,...

February 2023

Cree (B)

By John Mullins, Elizabeth Philp

After having been spun out of the family business, CREE’s progress had been disappointing, to say the least. Despite the fact that two towers had been built using CREE’s innovative approach, and to considerable acclaim, it was proving difficult to sell additional projects. The result was that CR...

February 2023

Cree (A)

By John Mullins, Elizabeth Philp

Hubert Rhomberg was contemplating the wall of photographs at the entrance to the headquarters of his family business, Rhomberg. They showed the history of the company and his forefathers. With such rich heritage, should he really be pushing for innovation so strongly? But if he didn’t, he would be...