Sep. 12, 2013
Alan F. Denenberg
See more on Alan F. DenenbergDavis Polk & Wardwell LLP | Menlo Park | Practice type: Corporate
While managing Davis Polk's Menlo Park office, Denenberg has simultaneously helped countless companies and their respective underwriters raise money through initial public offerings and other financing events. In March 2012, for example, he represented the underwriters for business review site Yelp Inc. in its $96 million IPO (after expenses). On opening day, Yelp shares traded up more than 60 percent, settling at around $24 per share.
Denenberg said he thoroughly enjoyed that deal because the Yelp team was intelligent, self-aware and business savvy. He said the company presented an easily trackable revenue model to investors by showing its growth in certain geographies.
"A lot of Internet businesses describe themselves as a wheel," Denenberg said, "but when you actually looked at Yelp, you could see it was very true." Yelp relies on user-based reviews to draw in more users and eyeballs, which in turn lead more advertisers to seek out the site.
Denenberg appears to do a deal a week. Just last month, he counseled a consortia of underwriters on a $138 million bond offering for technology licensing company Rambus Inc. and on a $132 million stock offering for Rally Software Development Corp. This summer he has also counseled the bookrunners on the IPOs of homebuilder UCP and NanoString Technologies Inc. Other recent clients included the purchasers of senior notes from recent offerings by Workday Inc., Concur Technologies Inc. and NetSuite Inc.
- DAVID RUIZ
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