<ul class="summary-list"><li><keyword id="11915967" type="UNKNOWN" weightage="60" keywordseo="warren-buffett" source="Orion">Warren Buffett</keyword>'s great-nephew completed the acquisition of a private-hangar specialist this week.</li><li><keyword id="13037182" type="UNKNOWN" weightage="60" keywordseo="alex-buffett-rozek" source="Orion">Alex Buffett Rozek</keyword> praised <keyword id="13037184" type="UNKNOWN" weightage="60" keywordseo="sky-harbour" source="Orion">Sky Harbour</keyword>'s competitive advantages and management team.</li><li>Buffett and Rozek look for similar qualities in the businesses they buy.</li></ul>Warren Buffett's great-nephew appears to share the billionaire investor's taste in businesses, appetite for acquisitions, and <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-private-jet-plane-purchase-indefensible-indispensable-2021-10">passion for private jets</a>.Buffett's <a href="https://markets.businessinsider.com/stocks/brk-b-stock">Berkshire Hathaway</a> owns NetJets, which sells fractional ownership of private planes. Alex Buffett Rozek's <a href="https://markets.businessinsider.com/stocks/ysac-stock">Yellowstone Acquisition Company</a> completed its merger with Sky Harbour, which develops and leases private hangars for business and personal jets, <a href="https://www.businesswire.com/news/home/20220125006178/en/Yellowstone-Acquisition-Company-and-Sky-Harbour-LLC-Announce-Closing-of-Business-Combination">earlier this week</a>.Rozek is the grandson of Buffett's late sister, Doris. He runs a Berkshire-esque holding company named Boston Omaha, which has interests in advertising, insurance, and broadband internet.Rozek and his partner, Adam Peterson, <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-great-nephew-joins-spac-boom-raising-150-million-2020-10-1029710459">took Yellowstone public</a> as a special-purpose acquisition company (SPAC) in October 2020. Their goal was to find a high-quality business and merge with it, giving it a stock-market listing without the need for an initial public offering (IPO).The pair were partly drawn to Sky Harbour because they like infrastructure businesses, they said in a <a href="https://www.businesswire.com/news/home/20210802005439/en/Sky-Harbour-LLC-a-Developer-of-Private-Aviation-Infrastructure-to-Become-a-Public-Company-Through-a-Combination-with-Yellowstone-Acquisition-Company">press release</a> announcing the deal last August. They were also impressed by its cost advantages, scalability, executive team, and its sector's high barriers to entry.Several of Berkshire's businesses are involved in infrastructure, including the Burlington Northern railway and <keyword id="11915968" type="UNKNOWN" weightage="60" keywordseo="berkshire-hathaway" source="Orion">Berkshire Hathaway</keyword> Energy. Moreover, Buffett has repeatedly trumpeted the <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-dream-business-is-sees-candies-2019-7-1029916323">power of brands such as See's Candies</a> as "moats" to stave off competition, underlined Geico's lower costs relative to its peers, and emphasized the critical importance of management.It's clear that Buffett and Rozek share more than a bloodline. They're both drawn to businesses with physical operations instead of digital ones, and evaluate similar attributes when judging companies.However, Rozek may be having <a href="https://www.businessinsider.com/warren-buffett-80-billion-headache-dilemma-expensive-stocks-businesses-deals-2021-5?r=US&amp;IR=T">more luck on the dealmaking front than Buffett</a> because he's shopping for much smaller businesses, and seems less concerned about their profitability.Sky Harbour grew its revenue by 87% year-on-year to $784,000 in the first half of 2021, but a surge in its overheads and operating costs meant its net loss more than quadrupled to $4.8 million, <a href="https://www.sec.gov/Archives/edgar/data/0001823587/000143774921024148/ysac20211019_prem14a.htm#skybal">Securities and Exchange Commission filings show</a>.Read more: <a href="https://www.businessinsider.com/warren-buffett-berkshire-hathaway-apple-luxury-brands-stocks-experts-outlook-2022-1?IR=T&amp;r=US&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" target="_blank" rel="noopener">Warren Buffett is ready to deploy $80 billion if the market crashes this year. 7 experts say the investor should trim his Apple stake, acquire luxury brands, or buy some blue-chip stocks in the meantime.</a>

Warren Buffett's great-nephew just completed a SPAC deal. He clearly shares the billionaire investor's taste in businesses.

<ul><li>Warren Buffett's great-nephew took his "blank-check" company public on Thursday.</li><li><keyword id="10153316" type="UNKNOWN" weightage="60" keywordseo="alex-buffett-rozek">Alex Buffett Rozek</keyword>, the grandson of Warren's late sister Doris Buffett, is the co-CEO and co-chairman of <keyword id="10153314" type="UNKNOWN" weightage="60" keywordseo="boston-omaha-corporation">Boston Omaha Corporation</keyword>.</li><li>Boston Omaha formed <keyword id="10153315" type="UNKNOWN" weightage="60" keywordseo="yellowstone-acquisition-company">Yellowstone Acquisition Company</keyword>, a "<keyword id="1817616" type="ORGANIZATION" weightage="60" keywordseo="SPAC">SPAC</keyword>" or investment vehicle that raises money on public <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> to <keyword id="25455" type="ORGANIZATION" weightage="60" keywordseo="finance">finance</keyword> a future acquisition, and hopes to raise $150 million from its market debut.</li><li>Rozek and his business partner will use the funds to target a company in the homebuilding, homebuilding-related manufacturing, financial services, or commercial real estate industries.</li><li><a href="https://www.businessinsider.com/international">Visit Business Insider's homepage for more stories</a>.</li></ul>Warren Buffett's great-nephew took his "blank-check" company public on Thursday, joining the likes of billionaire investors <a href="https://markets.businessinsider.com/news/stocks/bill-ackman-spac-psth-pershing-tontine-targets-buy-blank-check-2020-10-1029665772#">Bill Ackman</a> and <a href="https://markets.businessinsider.com/news/stocks/social-capital-spac-ipoc-clover-health-deal-chamath-palihapitiya-merger-2020-10-1029652323">Chamath Palihapitiya</a> in raising money to make a future, as-yet-unknown acquisition.Alex Buffett Rozek, the grandson of Warren's late sister Doris Buffett, is the co-chairman and co-CEO of <a href="https://markets.businessinsider.com/stocks/bomn-stock">Boston Omaha Corporation</a>. Boston Omaha is a holding company with some similarities to Buffett's <a href="https://markets.businessinsider.com/stocks/brk-b-stock">Berkshire Hathaway</a> conglomerate, as it has business interests across the advertising, insurance, and broadband-internet industries.Read More: <a href="https://www.businessinsider.com/investing-trading-strategy-jim-rogers-8-rules-for-big-returns-2020-10" target="_blank" rel="noopener noreferrer">Market wizard Jim Rogers started trading with $600 and now has a reported net worth of $300 million. He shares the 8 trading rules that ensured his success.</a>Boston Omaha formed Yellowstone Acquisition Company — a special-purpose acquisition company or "SPAC" — and filed to take it public in early September. It initially hoped to raise $200 million, but ultimately cut its target to $150 million. Yellowstone's shares <a href="https://www.sec.gov/Archives/edgar/data/1823587/000121390020032428/0001213900-20-032428-index.htm">began trading on Thursday</a>.Rozek and his co-chairman and co-CEO, Adam Peterson, plan to use the listing proceeds to acquire a business in the homebuilding, homebuilding-related manufacturing, financial services, or commercial real estate industries.The pair may be seeking to emulate Rozek's great-uncle, who has made scores of lucrative deals during his career. Some of the Berkshire chief's most famous ones include his <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-goldman-sachs-sale-billions-return-bailout-2020-5-1029212109#">bailouts of Goldman Sachs</a>, <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-invested-3-billion-general-electric-ge-2008-crisis-2020-6-1029327040#">General Electric</a>, and <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-invested-5-billion-bank-of-america-made-fortune-2020-10-1029690339#:~:text=to%20BI%20Prime-,Warren%20Buffett%20plowed%20%245%20billion%20into%20Bank%20of%20America%20during,a%20fortune%20in%20the%20process.&amp;text=Warren%20Buffett%20invested%20%245%20billion,cushion%20to%20the%20struggling%20lender.der.">Bank of America</a>, and his <a href="https://www.businessinsider.com/berkshire-hathaway-to-buy-precision-castparts-2015-8">$37 billion takeover of Precision Castparts</a>.Read More: <a href="https://www.businessinsider.com/stock-picks-to-buy-61-companies-upside-earnings-2021-ms-2020-10" target="_blank" rel="noopener noreferrer">MORGAN STANLEY: Buy these 61 stocks that will offer major earnings-driven upside following an imminent 10% market sell-off</a>Doris, Rozek's grandmother, is best known for dealing with the stream of letters seeking aid from her billionaire brother. She <a href="https://learningbygivingfoundation.org/blogs/lxg-team/alex-buffett-rozek">gifted more than $180 million</a> over the course of 25 years.Rozek helped his grandmother with her philanthropy, and continues to chair the boards of two foundations linked to her: Learning by Giving and the Letters Foundation.

Warren Buffett's great-nephew joins the SPAC boom by listing a $150 million blank-check company

<ul><li><keyword id="10930883" type="COMPANY" weightage="20" keywordseo="laxmi-organic">Laxmi Organic</keyword> has launched its ₹600 crore initial public offer (IPO) today, and it will be open for subscription till March 17.</li><li>The price band is fixed at ₹129-130, and each lot consists of 115 equity shares.</li><li>Analysts are bullish on the company, pointing out its strengths and strategic measures undertaken.</li><li>The company has proposed to use the proceeds of the IPO towards capital expenditure for setting up new facilities and expanding its capacities.</li></ul> Laxmi Organic has kicked off its initial public offer (IPO) worth ₹600 crore today, March 15. It joins companies like Anupam Rasayan, Craftsman Automation, EaseMyTrip, MTAR Technologies among others. Laxmi Organic Industries Ltd’s initial share sale is now open and will be live till March 17, with a price band of ₹129-130. Each lot consists of 115 shares. A total of 4.65 crore shares are available for subscription in the IPO. 50% of the issue is reserved for qualified institutional buyers (QIB), 15% for non-institutional bidders and the remaining 35% for retail investors. The proceeds of the IPO are proposed to be used for repayment of certain borrowings, capital expenditure towards setting up a production facility, funding capital expenditure requirements towards expanding of specialty intermediates manufacturing facility, among other things. <cmsannotation type="cmsannotation" annotationid="What is the business of Laxmi Organic?" comment="subhead" text="What is the business of Laxmi Organic?">What is the business of Laxmi Organic?</cmsannotation> Laxmi Organic is one of the largest manufacturers of ethyl acetate, which is used as a solvent for paints, varnishes, cleaning mixtures and perfumes. Laxmi Organics is also the only manufacturer of diketene derivatives in India. Founded in 1989, Laxmi Organic is based in Mumbai and is a part of the Goenka Group. It has over three decades of experience in large scale manufacturing of chemicals. Currently, it is the largest manufacturer of ethyl acetate in India, with a market share of 30%. Its market share will be further augmented after the acquisition of Yellowstone Chemicals. At the moment, Laxmi Organic’s product line is divided in two categories – Acetyl Intermediates (AI) and Specialty Intermediates (SI). The AI category includes ethyl acetate, acetaldehyde, fuel-grade ethanol and other proprietary solvents. Specialty Intermediates comprises ketene, diketene derivatives namely esters, acetic anhydride, amides, arylides and other chemicals. Its current manufacturing capacity totals to 2.39 lakh metric tonnes per annum, with each chemical having its dedicated manufacturing facility. <cmsannotation type="cmsannotation" annotationid="Here are some of the clients of Laxmi Organic" comment="subhead" text="Here are some of the clients of Laxmi Organic">Here are some of the clients of Laxmi Organic</cmsannotation> Laxmi Organic has clients in over 30 countries, including Netherlands, China, Russia, Singapore, UAE, UK and USA. Its clients include Dr. Reddy’s Laboratories, <keyword id="672367" type="DOMAIN" weightage="20" keywordseo="Granules-India">Granules India</keyword>, Hetero Labs, Heubach Colour, Mylan Laboratories, Huhtamaki India, among others. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Prabhudas Lilladher </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">GEPL Capital </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Hem Securities </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Capital Market </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Arihant Capital </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr></tbody></table> <cmsannotation type="cmsannotation" annotationid="Laxmi Organic – strengths and strategies" comment="subhead" text="Laxmi Organic – strengths and strategies">Laxmi Organic – strengths and strategies</cmsannotation> Leading manufacturer of ethyl acetate Laxmi Organic is one of the largest manufacturers of ethyl acetate with a market share of 30% in India. “Ethyl acetate is a highly versatile solvent used in multiple applications across industries. It is derived from nonaromatic raw materials. The bio-based origin of ethyl acetate gives it a distinct identity and makes it a preferred solvent over traditional solvents,” stated an <keyword id="6375760" type="DOMAIN" weightage="20" keywordseo="axis-capital">Axis Capital</keyword> report. Only Indian manufacturer of diketene derivatives It is also the only Indian manufacturer of diketene derivatives. This is a significant strength as India has traditionally imported the chemical. Due to its research and development efforts, Laxmi Organic has captured 55% of the revenue share in the Indian market. Diversified customer base Laxmi Organic customers are spread across various sectors like pharmaceuticals, agrochemicals, dyes and <keyword id="1540974" type="DOMAIN" weightage="20" keywordseo="Pigments">pigments</keyword>, inks and coatings, paints among others. Pharmaceuticals is the biggest contributor to its top line, with a share of 35.7% of the company’s total revenue. Strategically located manufacturing facilities, vertical integration and supply chain efficiencies Laxmi Organic currently has two manufacturing facilities in Maharashtra, which are in close proximity to several ports, including major ones like Jawaharlal Nehru (Nhava Sheva) Port, JSW port and Mumbai port. The company also has distilleries located near sugar mills in Maharashtra, giving them easy access to supply for molasses. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/craftsman-automation-has-launched-its-824-crore-initial-public-offer-ipo-in-stock-market-in-india/articleshow/81506486.cms">The ₹824-crore Craftsman Automation IPO opens today – should you subscribe?</a> <a href="https://www.businessinsider.in/stock-market/news/the-760-crore-anupam-rasayan-ipo-has-received-a-mixed-response-from-brokerages-heres-what-works-for-it-and-what-doesnt/articleshow/81462495.cms">The ₹760-crore Anupam Rasayan IPO has received a mixed response from brokerages — here's what works for it and what doesn't</a>

Laxmi Organic kicks off its ₹600 crore IPO – should you subscribe?

<ul class="summary-list"><li>Abry Partners' $100 million stake in Kevin Hart's company HartBeat is the latest big <keyword id="11930356" type="UNKNOWN" weightage="60" keywordseo="ma" source="Orion">M&amp;A</keyword> move in <keyword id="11895191" type="UNKNOWN" weightage="60" keywordseo="hollywood" source="Orion">Hollywood</keyword>.</li><li>Dealmakers said production companies are valuable amid the <keyword id="11918203" type="UNKNOWN" weightage="60" keywordseo="streaming-wars" source="Orion">streaming wars</keyword> and demand for content.</li></ul>The streaming wars have spurred a period of frenzied dealmaking in Hollywood. Amazon kicked off a major round of M&amp;A last May with its $8.45 billion offer for 97-year-old studio MGM. In the year since, several entertainment companies have sold pieces of their business, including Reese Witherspoon's <a href="https://www.businessinsider.com/reese-witherspoon-hello-sunshine-growth-strategy-acquisition-2021-8">Hello Sunshine</a> and Will Smith and Jada Pinkett Smith's Westbrook Inc. to <a href="https://www.businessinsider.com/top-private-equity-investors-in-hollywood-entertainment-2021-7">Blackstone-backed Candle Media.</a>Joe and Anthony Russo's AGBO sold a stake in January to South Korean video game publisher Nexon. In March, <keyword id="6358540" type="UNKNOWN" weightage="60" keywordseo="sony" source="Orion">Sony</keyword> Pictures Television announced it would take a <a href="https://www.hollywoodreporter.com/business/business-news/sony-buys-industrial-media-american-idol-90-day-fiance-1235103590/">majority stake in Industrial Media</a> — known for reality TV hits like TLC's "90 Day Fiancé" — in a deal valuing the company at $350 million. And STX Entertainment was acquired by the Najafi Companies in April for around $157 million, <a href="https://www.hollywoodreporter.com/business/business-news/stx-sold-to-investor-group-led-by-najafi-companies-1235084457/">according to the Hollywood Reporter</a>.In the latest deal, Kevin Hart's new <keyword id="11894119" type="UNKNOWN" weightage="100" keywordseo="media" source="Orion">media</keyword> venture, HartBeat, announced that <keyword id="12061432" type="UNKNOWN" weightage="60" keywordseo="private-equity" source="Orion">private equity</keyword> firm Abry Partners was <a href="https://markets.businessinsider.com/news/stocks/kevin-harts-media-company-sells-$100-million-stake-to-private-equity-11291266">taking a $100 million minority stake</a> in the business, which combines his HartBeat production shingle and digital comedy platform Laugh Out Loud. <a href="https://www.businessinsider.com/kevin-hart-company-ceo-thai-randolph-private-equity-hartbeat-2022-5">Thai Randolph stepped up as CEO</a> of the company after leading the fundraise.The M&amp;A activity had top Hollywood dealmakers telling Insider in early 2022 that practically every independent production company is a target.Private equity firms are leading the pursuit, especially when it comes to talent-fronted shingles, because they see value in investing in content before the streaming service boom plateaus — and demand for original programming along with it. Apollo in January took a $760 million stake in "<keyword id="11975656" type="UNKNOWN" weightage="60" keywordseo="dune" source="Orion">Dune</keyword>" producer <keyword id="13232532" type="UNKNOWN" weightage="60" keywordseo="legendary" source="Orion">Legendary</keyword>, in a move that "is about us making our own IP," Apollo partner <a href="https://www.businessinsider.com/apollo-global-partner-reveals-acquisition-strategy-tegna-legendary-future-ma-2022-2">Aaron Sobel told Insider</a>. "You're going to be seeing us do M&amp;A and there's much more that's going to happen," he said."More traditional media companies are trying to pivot," said Waymaker Law founder Ryan Baker, adding that periods of disruption foment more M&amp;A activity because it's "quite common for entrenched incumbent players tied to existing technology to not be as nimble" and they can often adapt more quickly by buying than building.Not only does the appetite for production capabilities appear insatiable, but valuations also are sky-high. Hello Sunshine, whose projects include Apple TV+ drama "The Morning Show," was valued at $900 million in its Candle Media deal. SpringHill Co., founded by LeBron James and Maverick Carter, nabbed a $725 million valuation when it took on <a href="https://www.businessinsider.com/lebron-james-springhill-valued-725-million-nike-epic-invest-2021-10">an investment</a> from a group including RedBird Capital, Nike, and Epic Games. <h2>'The key is buying franchises.'</h2>Such targets aren't being evaluated as traditional production companies, but rather as IP generators that have the potential to feed the demand for the next "Squid Game" or "Yellowstone," projects built with DNA that could anchor universes and also extend beyond the screen. "Original content is becoming more important and you want to bring a lot of the production capabilities in house," said Pivotal entertainment analyst Jeffrey Wlodarczak. "The key is buying franchises." All that deal flow is leading some Hollywood companies to hang "for-sale" signs. Village Roadshow, the producer of "Joker" and "The Lego Movie," has hired PJT Partners to seek investment or acquisition offers, per the <a href="https://www.wsj.com/articles/village-roadshow-producer-on-movies-including-joker-and-the-matrix-explores-strategic-options-11642182117">Wall Street Journal</a>.The limited set of larger production businesses that make attractive acquisition targets, sources said, includes A24, Skydance Media, and MRC. But among smaller shops, having a talent affiliation is key. A production company without a big-name is more like an arms dealer, a top dealmaker said, and typically lacks the potential to expand into multiple verticals — or to command a top-tier valuation. Celebrity-fronted businesses come with their own risks. If the talent isn't interested in expanding beyond filmed entertainment, the value of the deal declines. And if a star's reputation falters, the business could slip with it. Not all independent shops control the IP they create. Many production companies make work-for-hire or don't control the rights to a project once it is sold off to a studio distributor. Still, some buyers are game to pay for access to the next big idea from, say, creators like the Russo brothers, even though their reputation was built largely on "The Avengers" — aka Marvel IP — said another dealmaker who asked to remain anonymous.Based on January interviews with five entertainment industry experts and insiders, Insider identified a list of 10 production companies that could be compelling acquisition targets as M&amp;A activity continues.<h2>10 Hollywood M&amp;A targets with production capabilities and brand recognition</h2><ul><li>A24 The company led by CEO David Fenkel and chairman Daniel Katz has long been the subject of acquisition speculation thanks to its lineup of buzzy titles, including Greta Gerwig's "Lady Bird" and best picture Oscar winner "Moonlight." A24 — which also produces TV shows like "Ramy" — has a production deal with Apple and a film licensing agreement with Showtime. </li><li>Array Ava DuVernay's company produces, markets, and distributes films from women and people of color. Array also is behind DuVernay projects like Netflix series "Colin in Black &amp; White" and has a deal with the streamer to release film projects including 2021 dramedy "Donkeyhead." </li><li>Bad Robot J.J. Abrams and wife Katie McGrath's 23-year-old shop is behind everything from HBO drama "Westworld" to the next installment of the "Mission: Impossible" franchise. Though Bad Robot doesn't own the rights to those titles, Abrams is such an in-demand creative talent that <a href="https://www.hollywoodreporter.com/tv/tv-news/jj-abrams-officially-closes-sizable-warnermedia-film-tv-partnership-1232979/">WarnerMedia</a> in 2019 paid a reported $250 million for a five-year film and TV overall deal with him. </li><li>Blumhouse Jason Blum's shingle has perfected its model of producing horror films on a tight budget, projects that reap big gains when they hit with audiences. Consider 2021's "Halloween Kills," which made more than $131 million at the box office, amid COVID fears and restrictions, on a $20 million budget. A 10-year first-look deal with Universal Pictures that runs through 2024 bodes stability for Blumhouse's film business.</li><li>Chernin Entertainment Peter Chernin's company — which produced NBC's "New Girl" and the rebooted "Planet of the Apes" film series — is said to be exploring strategic options. It has a first-look deal with Netflix, and in 2020 it struck a deal with Spotify to develop its podcasts for film and TV. </li><li>Imagine Entertainment Previously a target for Kevin Mayer and Tom Staggs' Candle Media, the production company co-founded by Ron Howard and Brian Grazer was in talks early this year to sell a stake to London-based Centricus, <a href="https://www.wsj.com/articles/ron-howard-and-brian-grazers-imagine-entertainment-in-talks-to-sell-majority-stake-to-investment-firm-centricus-11642175909">WSJ</a> reported. Its recent films include "Hillbilly Elegy" and "Tick, Tick…Boom!" for Netflix. </li><li>Scout Productions The 28-year-old company led by Michael Williams, David Collins and chief creative officer Rob Eric has driven some of the highest-profile LGBTQ+ projects in Hollywood, including "Queer Eye for the Straight Guy" and its "Queer Eye" reboot on Netflix.</li><li>Seven Bucks Productions Led by Dwayne "The Rock" Johnson and Dany Garcia, Seven Bucks produced "Red Notice" for Netflix and has the upcoming "Black Adam" for Warner Bros. It also makes content for Johnson's YouTube channel, where he has 5.89 million subscribers. </li><li>Skydance Media David Ellison's production shingle is behind the upcoming "Top Gun: Maverick" and is teaming with regular producing partner Bad Robot on "Mission: Impossible 7" and "Star Trek 4." The company — which has taken investments from RedBird Capital, Korea's CJ ENM, and Tencent — will produce a slate of live-action films for Apple, where it already has an animated film and TV series deal. </li><li>Village Roadshow The film producer and financier majority owned by private equity firm Vine Alternative Investments is best known for Warner Bros. co-productions including "The Matrix Resurrections" and "Joker." The company, which is led by CEO Steve Mosko, recently has been focused on producing its own original films. </li></ul>This article was originally published on January 27 and has been updated, most recently on May 19.

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<div class="KonaFilter image-container display-table float_right click-to-enlarge"><div><div class="image on-image"><a title_source="Pinterest " title_caption="Pinterest cofounder Evan Sharp" class="zoomin" href="https://static-ssl.businessinsider.com/image/555112516da81181017dcedc-960/evan-sharp-5.jpg"><img src="https://static-ssl.businessinsider.com/image/555112516da81181017dcedc-1200-924/evan-sharp-5.jpg" border="0" alt="Evan Sharp" /></a>Pinterest Pinterest cofounder Evan Sharp</div></div></div>Late last week, <a href="http://recode.net/2015/05/08/pinterest-adds-186-million-to-series-g-round-lets-employees-sell-shares/">news broke that Pinterest had raised an additional $186 million</a> as part of a $553 Series G round of funding.That brought the startup's total funding to $1.3 billion with an $11 billion valuation - In other words, boatloads of money for the five-year-old company. Business Insider talked to Pinterest cofounder Evan Sharp not long before the company closed its latest funding. During our interview, he talked about why he thinks the company's vision is so powerful, and how it plans to grow and change in the coming year. Here are some highlights of what we learned:<ul><li>Pinterest plans to spend the next year focusing on international growth and making its Pins more "actionable." As the site expands geographically, it also needs to become more regionally focused.</li><li>People have stopped talking about Pinterest as a "social network" - but that's a good thing. "Pinterest is not about sharing with your friends," Sharp says. "It's about saving ideas for your future."</li><li>Pinterest puts a lot of stock in hiring employees who aren't just really smart, but who are also really nice. "Those are the people who can 'knit' together and build great innovative products," Sharp says. </li><li>Pinterest needs to do a better job of explaining its various uses. "I don't think people realize the breadth of it and how it's useful it is for so many things," he says. "I just got a dog, and I never thought about using it to look up toys you get for the dog and walks to take the dog on, but there's so much stuff about that on Pinterest!"</li></ul><h2>Here's a transcript of the interview, lightly edited for clarity and length:</h2>Business Insider: So, what have you personally used Pinterest for recently?Evan Sharp: I'm going to Yellowstone National Park in a few weeks. I was there about a decade ago and so I was browsing things to do there. What I was really interested in are there things to do there, or interesting things at Yellowstone that I didn't know about.Because I remember a lot of the stand-out stuff from my last trip, but I was wondering if there were things I didn't know about - that 'are there secrets?' And Pinterest has helped me with that.<div class="KonaFilter image-container display-table float_right click-to-enlarge"><div><div class="image on-image"><a title_source="Screenshot / YouTube" title_caption="Here's an example of Guided Search: When you search something like " plants="" Pinterest="" will="" give="" you="" options="" like="" that="" keep="" the="" mosquitos="" away="" or="" garden="" class="zoomin" href="https://static-ssl.businessinsider.com/image/555122ac6da811197c7dced8-960/guided-search.png"><img src="https://static-ssl.businessinsider.com/image/555122ac6da811197c7dced8-561-421/guided-search.png" border="0" alt="Guided Search " /></a><a href="http://www.wired.com/2014/04/pinterest-guided-search/">Screenshot / YouTube</a>Here's an example of Guided Search: When you search something like "plants," Pinterest will give you options like "that keep the mosquitos away" or "garden"</div></div></div>BI: It's been about a year since Pinterest <a href="http://www.businessinsider.com/pinterests-new-search-tool-is-designed-to-do-what-google-cannot-2014-4">first launched Guided Search</a> to help people narrow down their search results. Why is that function important to Pinterest's goals and how has it changed?ES: We think of Pinterest as a visual bookmarking tool for saving and discovering creative ideas, and that discovery part is a really a core part of what we work on every day. When you're searching for something on the web, you're generally looking for something very specific. But on Pinterest, it's usually more general. It's like, 'I need a scarf, but I don't know what kind of scarf.' Or 'I need to stain something, but I don't know anything about how to do that.'The Guides are a way for us to give you the vocabulary. You may need help discovering and exploring things you didn't even know existed.BI: Pinterest recently announced that there are a whopping 50 billion Pins in the system. What's the goal, growth-wise, there?ES: I don't know if we have a number that is the goal. Numbers are easy to talk about externally so we use them, but it's not actually about the quantity. But for us, it's really about 'Do we have all the most interesting stuff well-represented on Pinterest?'If you're a user who is looking for something, do we have an idea that's relevant to you? Do we have enough stuff that we can help you discover something interesting? For us, it's less about thinking about how to make that number higher and more about, how do we take those 50 billion things and show you the right five or ten or twenty for what you're doing. And that's a really hard problem.BI: What are some ways that you're solving that problem?ES: This year, we're really interested in how we make Pinterest feel very regionally focused. Our biggest company focus this year is international growth. When you're in Japan and you're looking for something to cook for dinner, how do we make sure you're seeing a Japanese recipe?Another focus is how we take those 50 billion Pins - or however many we have at the end of the year - and make them more useful and more actionable? If you come across anything - clothing, a place to travel - how do we help you understand what you're looking at - how you can get that piece of clothing, how you can get to that place? And that's more about the information and the metadata that we have about the pins themselves.<div class="KonaFilter image-container display-table float_right click-to-enlarge"><div><div class="image"><a title_source="Pinterest" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/55512184ecad0469612ae3b2-960/screen shot 2015-05-11 at 5.37.43 pm.png"><img src="https://static-ssl.businessinsider.com/image/55512184ecad0469612ae3b2-524-458/screen shot 2015-05-11 at 5.37.43 pm.png" border="0" alt="Pinterest" /></a>Pinterest</div></div></div>BI: You recently made it possible to download apps through Pinterest. How else will you make more actionable pins?ES: When you see something on Pinterest, how well are we helping you understand what you're looking at, and how easy is it for you to go do that thing in real life?If you see an image and it's just an image, and there's a bad link or no description, and you don't know what that image is, or who took it, or what it's a picture of, it's not a very satisfying or actionable experience.Whereas, if you see a photo of an awesome bag and it says what it is and there's a link to the store and you can get it and there are reviews - all of that stuff would make the experience of discovering that bag on Pinterest way better for you. Just way easier. So there's a whole suite of stuff that we could build. BI: About 80% of Pinterest's traffic now comes from mobile and you've talked about how international expansion is a big priority right now. How do those two things go together?ES: For us, the phone is the platform that we think about every day when we develop new features and products. We have experiences on other devices and other platforms, and we'll continue to do that, but the phone is really what most people think of when they think of the internet. Without that, we'd be in a much, much worse position when we think about Asia, South America, Europe and someday maybe Africa. It's vital.For example, we're finally prioritizing Brazil this year. It's one of the five countries we're focused on. We're focused on the the UK, Germany, Japan, and Brazil, and Brazil is a very mobile dominant country. For us, it's kind of a test-bed of how we really try and grow without a desktop presence, which I think is a good exercise for us to go through as a company.BI: People used to always talk about Pinterest as a 'social network.' Now, you see it described as a 'discovery tool.' Do you think the social element of Pinterest is as important as it used to be?ES: One of the problems is that there's not a good definition of what social means online. When people use that as a label, it's hard to agree or disagree. To me, a social service is a service that is primarily about sharing and communicating with your friends. So that's Facebook, that's messaging apps, that may or may not be Twitter depending on how you define friend…Pinterest is not about sharing with your friends. It's about saving ideas for your future.I do think, obviously, you can get inspired about things you want to do by looking at what other people do. People are at the core of Pinterest, but it's just not about sharing. For me, a lot of the people who inspire me are people I know. Like, my friend Everett re-does scooters and motorcycles - and that's really inspiring I never thought about doing that before I saw his Pin Boards. And my friend Shaw is an architect in New York so I can keep a pulse on what he's doing, because he's way more cutting edge than I am.But I don't think of those interactions as social interactions. I'm more interested in the fact that they're experts in a taste I admire then that they're people I'm friends with.<div class="KonaFilter image-container display-table float_right click-to-enlarge"><div><div class="image on-image"><a title_source="Pinterest" title_caption="A big group of Pinterest employees. Sharp and cofounder Ben Silbermann are in the center" class="zoomin" href="https://static-ssl.businessinsider.com/image/55511b6eecad0453362ae3bf-960/pinterest-30.jpg"><img src="https://static-ssl.businessinsider.com/image/55511b6eecad0453362ae3bf-1200-924/pinterest-30.jpg" border="0" alt="Pinterest " /></a>PinterestA big group of Pinterest employees. Sharp and cofounder Ben Silbermann are in the center</div></div></div>BI: Pinterest recently held an event called "Knitcon" where employees taught each other classes about things like song writing, photo editing, fixing a flat bike tire, and more. Why is that sort of thing important to Pinterest's culture.ES: Our core company value is actually the word 'knit,' which is kind of a funny word. That's the word we use to describe different types of people learning to see each other's point of view and work on a problem together. And that's just how creative things get built right?We want the different disciplines and functions to be learning each other's languages. Engineering and design work very closely. I think that there are a lot of companies in the valley that call themselves an 'engineering company,' or a 'marketing company,' - they're very focused on a specific part of a business.We're more interested in forming a business where there is no Alpha dog team within the company.<div class="KonaFilter image-container display-table float_right click-to-enlarge"><div><div class="image on-image"><a title_source="Pinterest" title_caption="How Pinterest welcomed the company Kosei after its acquisition" class="zoomin" href="https://static-ssl.businessinsider.com/image/55511bb669bedd920602b692-960/kosei-pinterest-3.jpg"><img src="https://static-ssl.businessinsider.com/image/55511bb669bedd920602b692-1200-924/kosei-pinterest-3.jpg" border="0" alt="kosei pinterest" /></a>PinterestHow Pinterest welcomed the company Kosei after its acquisition</div></div></div>There's one more thing… We try to hire people who are nice. Which is kind of obvious in some ways, but there's definitely a stereotype of a successful startup that it's often this aggressive, type A place. And that's just not necessarily true.You can have geniuses that are nice or geniuses that are really egotistical. But they're both geniuses. So, we really want to work with the geniuses that are nice to each other and have a common level of respect. Because those are the people who can knit together and build great innovative products.BI: What do you wish people better understood about Pinterest?ES: I don't think people realize the breadth of it and how useful it is for so many things. Even I don't sometimes.I just got a dog, and I never thought about using it to look up toys you get for the dog and walks to take the dog on, but there's so much stuff about that on Pinterest!Pinterest really is a portal. We're an effective search engine for a lot of things in people's lives, and I'm not sure that we're top-of-mind in that way yet. You wouldn't ask Pinterest how far it is from New York to San Francisco, but you would definitely ask it, 'What should I do in San Francisco?' or 'What kind of sofa do I want in my apartment,?' or 'What kind of clothes do I want to wear?' These very subjective questions that have no right answer, that I think a visual, object-focused service can help you answer really well.<div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image"><a title_source="Pinterest " title_caption="Here's Evan's Pinterest page" class="zoomin" href="https://static-ssl.businessinsider.com/image/55511c146bb3f75c408539d0-960/screen shot 2015-05-11 at 4.20.23 pm.png"><img src="https://static-ssl.businessinsider.com/image/55511c146bb3f75c408539d0-1200-632/screen shot 2015-05-11 at 4.20.23 pm.png" border="0" alt="Evan Sharp" /></a><a href="https://www.pinterest.com/sharp/">Pinterest </a>Here's Evan's Pinterest page</div></div></div>Where do you want the company to be in the next five years?ES: We really want everyone in the world to be discovering and doing things in their life in a way that they don't today. Everyone in the world. So, that's people outside the US, that's demographics that aren't as interested in Pinterest today… That's using Pinterest for all sorts of projects and ideas that people might not think of today.A lot of people think of creativity as this artistic, elitist thing. 'I'm not creative!' is a really common phrase you hear adults say. Every kid is creative though, right?Getting people into that creative mode, just an hour a day, can be really transformational. It can really give people confidence and make them feel like they're in control of the things in their life.You can take the things that you have to do - you know, like raising a kid, teaching a class - and make them a little bit more creative, a little bit more interesting.<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/55511c376da81163527dced7-1200-924/evan-sharp-7.jpg" border="0" alt="Evan Sharp ">Pinterest </img></div></div></div>BI: How has Pinterest unleashed that creativity in you?ES: I got back into photography really heavily about a year and a half ago, and I used Pinterest to figure out what I liked and what photographers I actually loved. That was a process of browsing through thousands and thousands of photographs and figuring out, over time, what the pattern was of what interested me. I found all these great photographers I had never heard of, just by using Pinterest to save the stuff that caught my eye over time.And now I take crazy-amounts of photos. I probably took 15,000 photos last year. All of that is about me getting confident in what my taste is, and learning to feel confident in expressing it myself. So for me it was a tool that helped me find a voice, in a way, photographically. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/kids-choose-between-iphone-and-samsung-2015-4">Kids settle the debate and tell us which is better: an Apple or Samsung phone</a></h3> <div> <div> <script src="http://player.ooyala.com/v3/6e12e8b3387a44daacfb73afba25a76e"></script> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="JuZ2ppdDqpnTN4qk0JxJdpt7pBWqTiaj" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> <script> if (typeof RunFunctions === 'undefined') { var RunFunctions = []; } RunFunctions.push(function() { var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', 'JuZ2ppdDqpnTN4qk0JxJdpt7pBWqTiaj',{ autoplay: 'false' }); }); </script> <noscript><div>Please enable Javascript to watch this video</div></noscript></div> </div> <script>(function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }()); </script> </div>

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