{"id":288,"date":"2007-09-24T21:20:20","date_gmt":"2007-09-24T20:20:20","guid":{"rendered":"http:\/\/www.ziserman.com\/blog\/2007\/09\/24\/investir-dans-le-b2c-ou-le-b2b\/"},"modified":"2007-09-24T21:20:20","modified_gmt":"2007-09-24T20:20:20","slug":"investir-dans-le-b2c-ou-le-b2b","status":"publish","type":"post","link":"https:\/\/www.ziserman.com\/blog\/2007\/09\/24\/investir-dans-le-b2c-ou-le-b2b\/","title":{"rendered":"Investir dans le B2C ou le B2B ?"},"content":{"rendered":"<p>J&rsquo;\u00e9tais donc <a href=\"http:\/\/www.ziserman.com\/blog\/2007\/09\/20\/ie-club-apres-3-jours-off\/\" title=\"Aller sur mon billet pr\u00e9c\u00e9dent, ou je parle de ma visite \u00e0 l'IE Club\" target=\"_blank\">\u00e0 l&rsquo;IE Club jeudi dernier<\/a>.<\/p>\n<p>Les investisseurs pr\u00e9sents semblaient d&rsquo;accord sur un point : ils pr\u00e9f\u00e8rent investir sur une boite B2C que B2B.<\/p>\n<p>Cette affirmation m&rsquo;a \u00e9tonn\u00e9 sur le coup.<\/p>\n<p>Quelles sont les acquisitions qui ont marqu\u00e9 les esprits ces derni\u00e8res ann\u00e9es ?<\/p>\n<p>Skype, YouTubes, Kelkoo, &#8230; Ce sont effectivement des services B2C, avec des valorisations \u00e9normes.<\/p>\n<p>Mais y a-t-il l&rsquo;\u00e9quivalent en B2B ?<\/p>\n<p>Oui : on peut citer Siebel, rachet\u00e9 par Oracle pour 5,85 Milliard $, Peoplesoft, rachet\u00e9 par Oracle (encore !) pour plus de 10 milliard $ !<\/p>\n<p>Donc, il faudrait creuser plus pour comprendre ce qu&rsquo;il y a derri\u00e8re cette affirmation.<\/p>\n<p>Justifi\u00e9 ou pas, je n&rsquo;en sais rien, mais intuitivement, je pense qu&rsquo;en moyenne, une entreprise B2B est moins risqu\u00e9e qu&rsquo;une entreprise B2C, tout en ayant des besoins en financement plus modestes.<\/p>\n<p>Par contre, et toujours en moyenne, les multiples de valorisation doivent effctivement \u00eatre moins \u00e9normes en B2B&#8230;<\/p>\n<p>La prochaine fois que j&rsquo;aurais l&rsquo;occasion d&rsquo;en discuter avec des investisseurs, je leurs demanderais quels sont les \u00ab\u00a0rationnels\u00a0\u00bb derri\u00e8re cette afirmation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>J&rsquo;\u00e9tais donc \u00e0 l&rsquo;IE Club jeudi dernier. Les investisseurs pr\u00e9sents semblaient d&rsquo;accord sur un point : ils pr\u00e9f\u00e8rent investir sur une boite B2C que B2B. Cette affirmation m&rsquo;a \u00e9tonn\u00e9 sur le coup. Quelles sont les acquisitions qui ont marqu\u00e9 les esprits ces derni\u00e8res ann\u00e9es ? Skype, YouTubes, Kelkoo, &#8230; Ce sont effectivement des services B2C, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[],"tags":[12,376],"class_list":["post-288","post","type-post","status-publish","format-standard","hentry","tag-salons-et-evenements","tag-vie-du-blog"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Investir dans le B2C ou le B2B ? - Ziserman.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ziserman.com\/blog\/2007\/09\/24\/investir-dans-le-b2c-ou-le-b2b\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Investir dans le B2C ou le B2B ? - Ziserman.com\" \/>\n<meta property=\"og:description\" content=\"J&rsquo;\u00e9tais donc \u00e0 l&rsquo;IE Club jeudi dernier. Les investisseurs pr\u00e9sents semblaient d&rsquo;accord sur un point : ils pr\u00e9f\u00e8rent investir sur une boite B2C que B2B. Cette affirmation m&rsquo;a \u00e9tonn\u00e9 sur le coup. Quelles sont les acquisitions qui ont marqu\u00e9 les esprits ces derni\u00e8res ann\u00e9es ? 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