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Leslie Mallon
Head of Public & Capital Markets
Leslie Mallon is a highly accomplished professional with a strong educational background. She studied at Carnegie Mellon University and pursued an MBA at the prestigious Columbia Business School. This academic foundation laid the groundwork for her successful career in the finance industry.
Leslie Mallon has held strategic positions in several renowned organizations, showcasing her expertise and leadership skills. She served as the Head of Public & Capital Markets at LionTree LLC, where she played a pivotal role in driving business growth and market visibility. Prior to that, she was the Managing Director, Co-Head NY Equity Sales & Head of TMT Specialist Sales at UBS Investment Bank, where she demonstrated her acumen in equity sales and the technology, media, and telecommunications sector. Additionally, she served as the Vice President of Technology Equity Research for Telco Equipment at Credit Suisse, further solidifying her reputation as a top professional in the finance industry.
Highlights
The markets have started to open for new issues, but what is the profile of TMT & Consumer companies that have been able to get out the IPO door more recently?
We took a closer look at the TMT & Consumer IPOs that have raised $50mn or more from the start of 2023 to 2024-to-date…there are 19 of them
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The skew points to larger size companies…53% had $1bn or more in LTM revenue though some smaller companies did make it through as ~16% had revenues in the range of $501mn-$1bn and ~16% had revenue in the range of $251mn-$500mn
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The slant to profitability continues as well…63% had LTM positive EBITDA at IPO
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The largest cluster of companies posted between 10-25% annual LTM revenue growth, but the avg for the group was +29% YoY
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The overall performance of these IPOs from pricing to-date is up +28%, on avg, given the huge performance of Cava (up +259%) and ARM (up +113%)...excluding those two, the avg performance is up +9% Net net, the IPO window has cracked open - bigger & profitable companies have led the new issue group more recently, but performance (excluding a couple of outliers) is mixed
Our latest Capital Markets Dashboard can be found here: https://lnkd.in/e6iARU4u
#CapitalMarkets #IPO #LTWeekly
🎥 The poor box-office showing of “Ant Man and the Wasp: Quantumania”, “The Marvels”, and “The Flash” last year have sparked discussions on whether audiences are feeling “franchise fatigue” and if a reliance on spinoffs, sequels, prequels, and universes is still as safe of a bet as they once were.
As a result, moviemakers have been looking at other IP opportunities they could tap into, and one sector that they’ve been increasingly mining for content has been video game IP... 7 different major film releases in 2023 were based on video games, up from 2 in 2022.
🎮 These video game adaptations have taken some share from superhero movies, which earned $712mn+ in domestic ticket sales in 2023 (up +2x y/y) vs the $1.02bn taken in by superhero movies (down -42% y/y). See Comscore chart below for the recent trend.
Video game adaptions are not just helpful for studios. The average MAU increase for games in a franchise after a transmedia release is +35%, per Newzoo’s PC & Console Gaming Report. ✏ We did a deep-dive into this trend in last week’s LT Weekly Top Themes Report, as well as some other key thematics listed below. To request access to the reports: liontree.com/ltweekly
- Silver Lake/Endeavor: The Largest PE-Sponsored Take-Private In 10 Years
- Liberty Media Looks To Apply The F1 Playbook To The World Of Motorcycle Racing
- Disney Triumphs Against Activist Investors
- VC Dealmaking Remains In The Doldrums
- Finding Other Avenues To Monetizing Premium Video Game IP Is Likely To Become Increasingly Important
- Spotify Is Gearing Up For Another “Harvesting” Action In 2024
- The FCC Seeks To Resurrect Net Neutrality
- Grab Bag: Paramount Enters Exclusive Merger Talks/Google Charging For AI-Search/Apple Home Robots
#videogaming, #tmt, #ltweekly
