10/16/2013

TechFlash: IPO rocket Veeva: From $7M investment to $4.4B company

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TechFlash Silicon Valley
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October 16, 2013



Veeva Systems raised nearly twice as much money as expected in a wildly successful IPO this week in which it raised $261 million and its stock jumped more than 80 percent. But it didn't get there by following the crowd.



There is still a 180-day lockup period before Emergence Capital Partners will know if its 300X return holds up on this week's IPO by Veeva Systems.



LinkedIn co-founder Reid Hoffman this week pulled back the curtain on how he convinced Greylock Partners, where he is now an investor, to back his $10 million Series B funding round in 2004.



E-commerce fraud is high on the list of grievances for retailers — merchants lost around $3.5 billion in 2012, according to a report by CyberSource Corp., from fraudulent or misidentified transactions.



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Cromwell Schubarth
Senior Technology Reporter
408.299.1823

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