青島希尼爾翻譯公司（theheretical.com）整理發(fā)布2015-12-07

希尼爾翻譯公司（theheretical.com）2015年12月7日了解到：Tech start-ups are waiting “way too long to go public”, the head of Google’s venture capital arm has warned, highlighting a widening rift in Silicon Valley over the fate of the latest generation of fast-growing start-ups. 谷歌(Google)的風(fēng)險(xiǎn)資本子公司的主管警告稱(chēng)，科技初創(chuàng)企業(yè)“在上市前等待的時(shí)間太長(zhǎng)了”。此言凸顯硅谷對(duì)最新一代快速增長(zhǎng)的初創(chuàng)企業(yè)的命運(yùn)的分歧日益擴(kuò)大。

Many of the companies leading the technology boom, including Uber and Airbnb, have sought to stay private as long as possible, raising ever-larger amounts of money from successive rounds of private investment. But the mood is changing and investors are growing skittish. 包括優(yōu)步(Uber)和Airbnb在內(nèi)，很多引領(lǐng)科技熱的公司一直尋求盡可能長(zhǎng)地保持私有狀態(tài)，在一輪接一輪的私募投資中籌集越來(lái)越多的資金。但市場(chǎng)情緒開(kāi)始發(fā)生變化，投資人開(kāi)始變得緊張。

Bill Maris, head of Google Ventures, one of California’s most active VC firms, warned some start-ups might rue deciding to exploit the private markets to push for high headline valuations, rather than selling shares to the public. 加利福尼亞最活躍的風(fēng)險(xiǎn)資本公司之一Google Ventures的掌舵人比爾?馬里斯(Bill Maris)警告稱(chēng)，部分初創(chuàng)企業(yè)到頭來(lái)可能對(duì)不向公開(kāi)發(fā)售股票、而是利用私募市場(chǎng)追求高整體估值的決定感到后悔。

“They’re setting the bar so inordinately high they’re making life difficult for themselves,” Mr Maris said in an interview with the Financial Times. “There’s going to be some fallout: some of them will lose a lot of money.” “他們把標(biāo)桿設(shè)得高不可攀，結(jié)果使自己的日子不好過(guò)，”馬里斯在接受英國(guó)《金融時(shí)報(bào)》采訪(fǎng)時(shí)表示?！斑@將帶來(lái)一些沖擊波：有些人將蒙受很大虧損。”

Next year, many will be unable to raise more cash in the private markets or will be forced to accept lower valuations, he said. Google Ventures, which is changing its name to GV, has backed more than 300 companies since its creation six years ago. 他表示，明年，許多公司要么將無(wú)法從私募市場(chǎng)籌到更多資金，要么將被迫接受更低估值。即將改名為“GV”的Google Ventures自6年前創(chuàng)立以來(lái)，已投資了300多家公司。

Investors who had stampeded into the private markets for a chance to back companies such as Uber, Airbnb and Snapchat have become far more risk-averse in recent weeks, especially after questions were raised about the validity of claims made by blood-testing start-up Theranos. 爭(zhēng)相涌入私募市場(chǎng)、以便找機(jī)會(huì)入股優(yōu)步、Airbnb和Snapchat之類(lèi)企業(yè)的投資人，在近幾周已變得更加厭惡風(fēng)險(xiǎn)，尤其是在血液檢測(cè)初創(chuàng)企業(yè)Theranos的說(shuō)法的可信性引發(fā)質(zhì)疑之后。

“There’s less money, more fear, more caution,” Mr Maris said. “錢(qián)更少了，人們的擔(dān)心和謹(jǐn)慎更多了，”馬里斯表示。

The prospect of interest rate rises in the US will make the private markets even more hostile for start-ups, he said. “Suddenly, being a public company is going to look a whole lot more exciting”. 美國(guó)加息的前景將導(dǎo)致私募市場(chǎng)甚至更加敵視初創(chuàng)企業(yè)，他表示?！巴蝗婚g，成為一家公開(kāi)上市公司看起來(lái)將更為振奮人心”。

The warnings signal a reversal of what has become received wisdom during the tech boom, as venture capitalists courted entrepreneurs with promises of leaving them free to stay private rather than pushing them to cash out. 這些警告表明，科技熱期間形成的公認(rèn)智慧發(fā)生了逆轉(zhuǎn)，此前風(fēng)險(xiǎn)投資家向創(chuàng)業(yè)者獻(xiàn)殷勤，承諾讓他們保持私有狀態(tài)，而不會(huì)推動(dòng)他們?nèi)プ儸F(xiàn)。青島翻譯公司