Zynga, a social game company that applied for an IPO with the US Securities and Exchange Commission (SEC) earlier this month. There was fierce competition among US investment banks to become the lead underwriter for the hot deal, which aims to raise $ 20 billion in market capitalization. Two of them, Morgan Stanley and Goldman Sachs, were seen as big favorites, but the deal eventually fell into the hands of Morgan Stanley. What was the deciding factor? According to economic news site Bloomberg , Morgan Stanley’s victory came from a tech corporate investment team led by Michael Grimes. Grimes and colleagues have won IPOs for a number of tech companies, including LinkedIn, Pandora, and Groupon, a step or two ahead of rival Goldman Sachs.
Grimes says he will explore the potential of targeted technology companies by first becoming a “heavy user.” He also has an account on LinkedIn and works hard to build a network. The time spent on the net is enormous. As for Zinga, Grimes is a seasoned player in the company’s hit game, City Building. In an interview with Bloomberg, his former subordinate testified that “Michael (Grimes) isn’t just playing and watching the game. He’s been quite involved and has reached a fairly high level in Cityville.” There is. Grimes is said to be “friends” on the city building with Zynga CEO Mark Pincus.
In real life, Mr. Grimes lives in San Francisco, which has many start-up companies, and Menoro Park, which has many venture capital firms. He often invites clients to dinner and drinking parties. Rumor has it that it is currently preparing for its next target, Facebook’s IPO. After all, regardless of whether it is in the virtual world or the real world, is it the key to steadily building “human relations” in order to seize business opportunities? It seems that “making connections” is the same as it used to be.