VCs like acquisitions as much as IPOs because the acquiring companies often can rationalize paying large multiples over the current valuation of the startup.

Companies that acquire startups for their intellectual property, teams, or product lines are acquiring startups that are searching for a business model. If they acquire later stage companies who already have users/customers and/or a predictable revenue stream, they are acquiring companies that are executing.

There's a large number of acquisitions of companies or mergers [happening], with most generated from [pharmaceutical] companies.

A startup is not just about the idea: it's about testing and then implementing the idea. A founding team without these skills is likely dead on arrival.

Innovation in an existing company is not just the sum of great technology, key acquisitions, or smart people. Corporate innovation needs a culture that matches and supports it.

Face-to-face customer feedback refines or validates every component of the startup's business model, not just the product itself.