Bobby Bitton

Strong capital allocation is crucial for ensuring a company's growth and profitability. Without it, a business may miss out on opportunities and waste money on things that don't align with supporting their goals. Listen in on this week’s episode of the M&A Science Podcast where Keith Levy, Operating Partner at Sonoma Brands Capital shares his experience on successful and unsuccessful capital allocation strategies here: https://hubs.ly/Q02tzzRb0 #MergersAcquisitions #Divestitures #CapitalAllocation #Profitability #Recapitalization

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If you don't allocate capital properly, you miss out on opportunities and potentially lose your company in the process. In our latest M&A Science podcast episode, Keith Levy, Operating Partner at Sonoma Brands Capital, shares his experience on successful and unsuccessful capital allocation strategies. Listen to the interview here: https://hubs.ly/Q02tzzQ90 #Mergersandacquisitions #MaScience #CapitalAllocation #Recapitalization

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Rif care is fundraising! We are raising to support our launch into a few hundred retailers as well as manufacturing innovation, and building our team. We have raised 20% of our Bridge round, which we are doing via angel investors and pre seed funds. Want to be out on the investor updates? Send us an email [email protected] Want to be added to our investor newsletter? Let us know in the subject! Rebecca Marie Caputo

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🎙️ New ASOM Pod Episode Just Dropped! 🎙️ This week, we’re in costume for Halloween 🎃, and things get a little spooky as Jimmy Kim, Amer G., Bryan MacDonald, and I dig into the “scary” realities of startup life in today’s economy. Let’s face it: founders are facing new hurdles every day, but we’re here to talk about what’s behind the struggle — and share some insider tips to make it through. Episode Highlights 🔸 𝗔𝘂𝘁𝗵𝗲𝗻𝘁𝗶𝗰 𝗠𝗮𝗿𝗸𝗲𝘁𝗶𝗻𝗴 𝗪𝗶𝗻𝘀: Forget the fluff; customers see right through it. Real, honest connection is what matters, and we’re breaking down how to make it happen. 🔸 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗞𝗻𝗼𝘄-𝗛𝗼𝘄 𝗜𝘀 𝗘𝘀𝘀𝗲𝗻𝘁𝗶𝗮𝗹: Staying afloat starts with understanding the basics. When it comes to budget cuts or resource allocation, financial literacy is the superpower every founder needs. 🔸 𝗣𝗿𝗼𝗱𝘂𝗰𝘁-𝗠𝗮𝗿𝗸𝗲𝘁 𝗙𝗶𝘁 𝗜𝘀 𝗘𝘃𝗲𝗿𝘆𝘁𝗵𝗶𝗻𝗴: Great product, wrong market? That’s a dead end. We dive into why adaptability is non-negotiable and how staying nimble can keep your startup alive. 🔸 𝗜𝗻-𝗛𝗼𝘂𝘀𝗲 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗲𝘀 𝗢𝘃𝗲𝗿 𝗔𝗴𝗲𝗻𝗰𝗶𝗲𝘀: No one’s closer to your brand than your own team. We’re talking about why handling things internally can often beat outsourcing and bring better results. 🔸 𝗧𝗼𝘂𝗴𝗵 𝗖𝗮𝗹𝗹𝘀 𝗔𝗿𝗲 𝗣𝗮𝗿𝘁 𝗼𝗳 𝘁𝗵𝗲 𝗚𝗮𝗺𝗲: Profitability sometimes requires hard choices. From budget adjustments to operational shifts, this episode explores what it really takes to keep moving forward. 🔸 𝗦𝘁𝗮𝘆 𝗖𝗹𝗼𝘀𝗲 𝘁𝗼 𝗬𝗼𝘂𝗿 𝗖𝘂𝘀𝘁𝗼𝗺𝗲𝗿𝘀: Feedback is priceless. We explore how founders can use customer insights to guide meaningful adjustments — and build lasting loyalty. 🔸 𝗙𝘂𝗻𝗱𝗶𝗻𝗴 𝘃𝘀. 𝗕𝗼𝗼𝘁𝘀𝘁𝗿𝗮𝗽𝗽𝗶𝗻𝗴 𝗦𝗵𝗼𝘄𝗱𝗼𝘄𝗻: Choosing between outside funding or bootstrapping isn’t easy. We weigh in on both sides to help founders make the best call for their goals. This episode has the real talk, practical tips, and insights every founder needs right now. Episode links 👇 Shout out to Salvit Advisors, Recharge, and Creators Combine for being ASOM sponsors and making this all possible! #asom #ecommerce #podcast

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Having a Cars and Capital event tomorrow in Southern California with Oren Klaff. If you want to join message me. https://lnkd.in/gDQ4D39u Oren Klaff Bridger Pennington #InvestorEvent #FamilyOffice #InvestmentOpportunity #CarlsbadEvent #PrivateEquity #WealthManagement #InvestmentConference #CapitalRaising #NetworkingEvent #IndustryLeaders #FinancialGrowth #InvestorsMeetup #WealthBuilding #BusinessGrowth #InvestmentForum

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A birthday ode to my partner Scott Paul, Utah startup scene's court jester. Scott's been one of my closest friends for over a decade. Scott is simply the most unique person we have in our ecosystem. My favorite way that I've had him explained is "you can't describe Scott, you have to experience him". Scott's a weird human and that's my highest compliment. People who aren't outliers are dull to me. That's why I've chosen to spend my career around crazy founders and big dreamers. Scott centers his life around the next novelty and experience. His favorite kind of novelty is learning about the humans of this earth, how they tick, and what makes them who they are. This is his endless and tireless search, and when he finds ones whose energy and ambition are inspiring to him, he backs them. Prior to us starting Convoi, he did that with his own money as an angel investor 70 times. He did it as an advisor, formally and informally probably thousands of times. I was on a call with a founder of a series A Utah startup and he told me that he and his co-founder connected because of a Scott Paul LinkedIn post. Scott, of course, was the first angel check. Scott is one of the greatest sources for good in our ecosystem. He's countless people's First Believer. He was my first angel check on my first business and in many times of my life, my first believer. One of the biggest mistakes I see people make is to write off Scott as just a wig wearing, inappropriate email sending, get kicked off LinkedIn-ing dude. He's truly one of the most selfless people that gets his greatest pleasure from helping others succeed. I'm sure there are many that will see this that can say they owe a large part of their career to Scott. Scott's one of the best we have in Utah. In a outlier business, there's no greater advantage than having the ultimate outlier as your partner. Love ya, Scotty P. Love building with you.

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MAX (formerly HBO Max) did something last month that every DTC brand should learn from. Let's dive in... One of the biggest sporting events of the year happened in March: NCAA March Madness. With many of the games being streamed on MAX, HBO decided to offer a 40% discount on their service for customers who sign up for annual billing. That means new, existing, or returning subscribers could get access to MAX & March Madness for a major discount - all by paying for the next 12 months in advance. For the customer: an absolute steal. For MAX: an increase in customer AOV and LTV. By discounting their streaming service, MAX locked in loads of customers to a year-long, pre-paid contract - enabling them to gather the revenue upfront and use it to confidently plan, budget, and make decisions for the next year. Annual plans, like what MAX offers, is certainly not new to us consumers for software like streaming services, but for some reason this price lever is rarely used on physical goods. The power of pre-paid subscriptions can be and should be, used by every DTC brand out there. If you're interested in setting up pre-paid subscriptions on your store, send me a message - Prive has you covered! 

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Founder and CEO Sequoya Borgman gave a peek behind the PE curtain last week on Jeff Sherman's radio show, The Upswing, including: ☑ His journey from a small town in northern California to founding Borgman Capital in 2017. ☑ What types of businesses are good candidates for private equity? ☑ Advice for business owners or founders thinking about succession planning, and what question to ask a private equity buyer. ☑ Differentiators between businesses that succeed and businesses that don't. ☑ Our investor relations philosophy. What else do you want to know about private equity? Tell us below ⤵ Listen here: https://lnkd.in/eSkaivjS #successionplanning #exitplanning #privateequity #businessgrowth

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The recent broadcast agreement between QVC and USA Pickleball raises an intriguing question: can #retail owned media platforms serve as viable destinations for nascent/emerging sports properties seeking a national audience and incremental revenue?   While the answer is likely “it depends”, I do think there are several interesting aspects to this particular partnership.   QVC’s commitment to blending shopping with sports coverage demonstrates how innovative retail companies can use live entertainment IP to keep priority audiences engaged. Across its various platforms, QVC produces more than 30 hours of live content each day. That provides ample opportunity to infuse partner content into its programming.   Notably, the collaboration also sees QVC become the exclusive retail industry partner of USA Pickleball. This enables cross-selling opportunities to active participants in the sport. QVC’s core demographic is individuals between the ages of 45 to 65, with much of its marketing efforts focused on people aged 50 and up. This aligns closely with the average age of active pickleball players, the majority of which were over 55 as of 2022.   For emerging sports properties like USA pickleball, non-traditional broadcasters like QVC provide significantly higher national reach than a fringe sports streaming platform. QVC’s media channels, including QVC+ and HSN+, are available in over 100 million households worldwide, while QVC’s website attracts over 758 million visits each year. Yes, QVC will have to get viewers used to the idea of turning to it for sports content, but the company has the marketing budget and the distribution to do so.   This is also a novel take on the notion that modern audiences want more interactive live sports consumption. We’ve seen muti-screen formats tested before, while the likes of Fubo have also tried to infuse sports betting overlays on their broadcasts. Can QVC learn from these use cases to create a truly hybrid user experience?   The future of sports broadcasting beyond the major networks and largest streaming platforms may very well lie in partnerships like these, where retail providers integrate third-party content to keep new and existing consumers inside their ecosystem. We’ve seen how powerful this combination can be from Amazon’s own decision to air NFL, MLB, and English Premier League games on Prime Video & Amazon MGM Studios. This is a trend to continue watching closely.   https://lnkd.in/eBeeKrBr   #mediarights #pickleball #sportsbusiness

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Discover the impressive returns awaiting Disney vacation rental investors! With an initial 11% cap rate in the first year and a staggering 20%+ cash-on-cash return post-renovation, the numbers are compelling. You don't need deep pockets to get in on the action. My private equity firm offers shares in our themed home portfolio for a minimum investment of $50,000, making this opportunity accessible to more investors. US investors must be accredited, but international investors are welcome. Ready to turn Disney dreams into returns? Let's make magic happen! #RealEstateInvesting #ThemedRentals #DisneyMagic #PrivateEquity #InvestmentReturns #AccessibleInvesting #AccreditedInvestors

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What's the untapped opportunity in GP stakes? Hear 30 year asset management industry veteran Todd Owens, Co-Founder & Managing Partner at Cantilever Group, discuss why GP stakes has become a solution for asset managers and why the middle-market is an underserved and attractive segment of alternative asset management. Todd and I had a fascinating conversation on the latest Alt Goes Mainstream podcast. We discussed: * The evolution of alternative asset managers from Todd’s perspective as a banker to many alternative asset managers. * Why GP stakes has become a solution for alternative asset managers.  * Why and how alternative asset managers are businesses and why it can make sense for them to take investment to grow. * The benefits of GP stakes for investors and why the growing AUM of private markets means investors could benefit from exposure to GP ownership. * The risks and challenges with GP stakes as an investment strategy. * Why the middle market is an underserved and attractive segment in alternative asset management. * What the currency of consolidation will look like in alternative asset management. * What it means to grow and evolve a business as an alternative asset manager. Thanks Todd for coming on the show to share your wisdom and expertise on alternative asset management. Special thanks to our sponsor Ultimus Fund Solutions for their support of Alt Goes Mainstream. https://lnkd.in/gwdVUV7j

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Why are distributors so hot in today’s M&A market? Get insights on the latest trends and the surge in acquisitions in this must-listen podcast! #MAMarket #Distributors #Podcast

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I'm excited to announce our newest product💥 💥 𝐓𝐡𝐞 𝐍𝐞𝐯𝐚𝐝𝐚 𝐃𝐲𝐧𝐚𝐬𝐭𝐲 𝐭𝐫𝐮𝐬𝐭 **You do not need to live in Nevada to use this trust. You just need a licensed Nevada trustee. This product works best for: ▶ Startup founders and execs ▶ VC and PE investors The benefits of this trust include: ---> ZERO state capital gains tax (Nevada is a 0 tax state) ---> Bulletproof asset protection (better than a prenup) ---> Unlimited QSBS potential (you can stack trusts to eliminate federal taxes) My cofounders and I started Dynasty 2 years ago specifically to bring this product to market 🤠 We were 1st employees at Carta and were fortunate enough to take some money off the table. But we paid enormous taxes (over 50%)! On the flip side we met a serial founder who leveraged Dynasty trusts and paid ZERO taxes on over $50m in capital gains 😮 The second we heard about this, we knew we needed to start Dynasty so this product could be available to everyone... So if you are a founder, investor, or anyone with high growth assets - check us out!

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We all know the saying, "This meeting could have been an email." The AGM (Annual General Meeting) from a VC often fits that mold, but it doesn’t have to. The AGM is a unique opportunity to meet great entrepreneurs and portfolio companies, learn about new trends, and connect with fellow LPs to understand the current funding environment and strategies. Unfortunately, many AGMs are filled with endless, forgettable presentations. That’s why I was pleasantly surprised by Robin Capital‘s recent AGM. Instead of focusing on numbers and slides, the event centered on the people who make and shape the fund. We engaged in deep conversations, participated in joint activities, and built meaningful connections. It was about fostering a community where everyone listened, learned, and supported each other. The founders benefited immensely from the wisdom, experience, and connections of the LPs, and the LPs gained insights into new technologies, approaches, and the latest entrepreneurial trends. Thanks for this great experience, Robin Haak! Picture credit: Claudia Weaver

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Is Bolt’s new $450M raise bold or reckless? I just saw this news (https://lnkd.in/eq9PxW8U)- Ryan Breslow is back at the helm, driving Bolt.com to a $14 billion valuation, not long after a $300 million stock buyback valuation that crushed the spirits of their employees who exercised their options at their last valuation. I'm all for founder-led companies with a little dash of crazy, but I don't like the smell of this new raise at all This dramatic turnaround, fueled by international investors, raises more questions than confidence. Breslow’s move feels more like an Adam Neumann-inspired hype play than a true growth strategy. The focus is on challenging Stripe and fueling FOMO, not on sustainable fundamentals. For founders and investors, this is a reminder: don’t let flashy narratives blind you to the reality of valuations. I’m all for supporting founder-led companies—it takes a little crazy to be a founder at this scale—but this one might be a step too far IMO. What’s your take on this announcement? All hype or the next Stripe killer?

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Fighting for a deal / allocation as a syndicate lead Picture Michael Jordan in the locker room lacing up his Jordans for the NBA finals game 1, and what is going through his head. That’s me putting on my patagonia vest about to jump on a zoom to convince a founder to give me an allocation in a competitive round. Okay, I clearly took that too far, but as a syndicate lead, this is your moment to really convince a founder of why they should include you on their precious cap table. It’s an opportunity to shoot your shot. I also (proudly) do not own a patagonia vest fwiw. For super competitive rounds, sometimes, syndicate leads need to go to bat to secure a hard-to-get allocation. While I may be anxious to secure this, I also typically feel pretty excited and motivated in these scenarios for 2 reasons: 1) I get an opportunity to prove myself to a founder, which for some reason I find fun. Maybe it's because I have an operating background and am a founder now, but I also think it’s healthy for me to have to do this to win a small allocation on the cap table. It’s a syndicate leads’ game 7. I guess I am pumped to show up/compete here 🤷🏻 2) I think the syndicate model allows us to be flexible and relatively easy to work with. In a head to head comparison with a fund, we are going to be flexible on allocation size as we do not have ownership requirements, and we can typically move quickly, and in a very founder friendly fashion. I think for the most part founders like to work with our syndicate model, therefore I am mostly confident going into these. The feeling of winning a competitive allocation after having to fight for it gives me a great feeling of satisfaction as a syndicate lead. It feels that the allocation was earned in a way that is elevated from most fundraises. -- Powered by Sydecar, Last Money In Media is the most actionable venture capital newsletter. Written by Zachary Ginsburg and Alex Pattis, who have deployed >$200M across 750+ SPVs.

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