{"id":177,"date":"2008-07-01T20:45:31","date_gmt":"2008-07-02T03:45:31","guid":{"rendered":"http:\/\/www.techventurebusiness.com\/index.php\/archives\/177"},"modified":"2008-09-25T00:43:59","modified_gmt":"2008-09-25T07:43:59","slug":"%e3%82%a8%e3%82%b0%e3%82%b8%e3%83%83%e3%83%88%e3%81%8c%e5%8d%b1%e3%81%aa%e3%81%84%ef%bc%81","status":"publish","type":"post","link":"https:\/\/www.techventurebusiness.com\/blog_jpn\/archives\/177","title":{"rendered":"\u30a8\u30b0\u30b8\u30c3\u30c8\u304c\u5371\u306a\u3044\uff01"},"content":{"rendered":"<p>\u3069\u3046\u3082\u3002\u3042\u3063\u3068\u3044\u3046\u9593\u306b\u4e0b\u534a\u671f\u7a81\u5165\u3067\u3059\u306d\u3002<\/p>\n<p>\u305d\u3093\u306a\u7bc0\u76ee\u306e\u30cb\u30e5\u30fc\u30b9\u3067\u5927\u304d\u304b\u3063\u305f\u306e\u304c\u3001\u6628\u65e5\u9589\u3058\u305f\u7b2c2\u56db\u534a\u671f\u306b\u304a\u3044\u3066\u3001VC\u30de\u30cd\u30fc\u306e\u5165\u3063\u305f\u30d9\u30f3\u30c1\u30e3\u30fc\u4f01\u696d\u306eIPO\u304c\u4e00\u4ef6\u3082\u7121\u304b\u3063\u305f\u3068\u3044\u3046\u3082\u306e\u3067\u3059\u3002<a href=\"http:\/\/www.siliconvalley.com\/ci_9750598?nclick_check=1\" target=\"_blank\">\u3053\u306e\u8a18\u4e8b\u306b\u3088\u308b\u3068<\/a>\u3001\u305d\u3093\u306a\u3053\u3068\u306f30\u5e74\u3076\u308a\u3089\u3057\u304f\u3001\u696d\u754c\u56e3\u4f53\u306eNVCA\u306f\u3001\u3053\u308c\u306f\u8b66\u544a\u3067\u3042\u308a\u5371\u6a5f\u7684\u72b6\u6cc1\u3060\u3068\u3044\u3046\u5f37\u3044\u8868\u73fe\u3092\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u5f7c\u3089\u306e\u30b5\u30fc\u30d9\u30a4\u306b\u3088\u308b\u3068\u3001IPO\u304c\u67af\u6e07\u3057\u3066\u3044\u308b\u3053\u3068\u306e\u8981\u56e0\u3068\u3057\u3066\u4ee5\u4e0b\u304c\u9806\u306b\u6319\u3052\u3089\u308c\u3066\u3044\u308b\u305d\u3046\u3067\u3059\u3002<\/p>\n<blockquote><p>1. Skittish investors<br \/>\n2. Credit crunch<br \/>\n3. SOX<\/p><\/blockquote>\n<p>\u3067\u3001\u3053\u306e\u3088\u3046\u306a\u72b6\u6cc1\u306f\u6295\u8cc7\u5bb6\u306b\u3082\u8d77\u696d\u5bb6\u306b\u3068\u3063\u3066\u3082\u826f\u304f\u306a\u3044\u306e\u3067\u3001\u3053\u308c\u304b\u3089\u6c11\u8846\u30fb\u653f\u5e9c\u306b\u5bfe\u3057\u3066\u50cd\u304d\u304b\u3051\u3092\u3057\u3066\u3044\u304f\u3068\u606f\u5dfb\u3044\u3066\u3044\u307e\u3059\u3002\u696d\u754c\u56e3\u4f53\u306a\u306e\u3067\u3053\u3046\u3044\u3046\u30b9\u30bf\u30f3\u30b9\u306f\u5f53\u7136\u304b\u3082\u3057\u308c\u307e\u305b\u3093\u304c\u3001\u3069\u3046\u306a\u3093\u3067\u3057\u3087\u3046\u3001\u305d\u3093\u306a\u306b\u5371\u6a5f\u7684\u3067\u30d9\u30f3\u30c1\u30e3\u30fc\u4f01\u696d\u306eIPO\u304c\u300c\u4e0d\u5f53\u306b\u300d\u59a8\u3052\u3089\u308c\u3066\u3044\u308b\u90e8\u5206\u304c\u3042\u308b\u306e\u3067\u3057\u3087\u3046\u304b\u3002<\/p>\n<p>\u4eca\u306f\u682a\u5f0f\u5e02\u5834\u306e\u72b6\u6cc1\u304c\u975e\u5e38\u306b\u60aa\u3044\u3067\u3059\u304b\u3089\u3001IPO\u3059\u308b\u6e96\u5099\u3092\u3057\u3066\u3044\u3066\u3082\u30bf\u30a4\u30df\u30f3\u30b0\u3092\u5148\u5ef6\u3070\u3057\u306b\u3059\u308b\u3068\u3044\u3046\u3053\u3068\u306f\u81f4\u3057\u65b9\u306a\u3044\u306e\u3067\u3001\u305f\u307e\u305f\u307e\u4eca\u56de\u304c\uff10\u3067\u3042\u3063\u305f\u3060\u3051\u304b\u3082\u3057\u308c\u307e\u305b\u3093\u3002\uff08\u5b9f\u969b\u305d\u306e\u3088\u3046\u306a\u4f01\u696d\u306f\u73fe\u572822\u793e\u3042\u308b\u305d\u3046\u3067\u3059\uff09\u3000\u305d\u3057\u3066\u3001SOX\u306b\u95a2\u3057\u3066\u306f\u57fa\u6e96\u306e\u554f\u984c\u3067\u691c\u8a0e\u306e\u4f59\u5730\u304c\u3042\u308b\u304b\u3082\u3057\u308c\u307e\u305b\u3093\u304c\u3001\u305d\u306e\u4e8b\u81ea\u4f53\u304cIPO\u3092\u59a8\u3052\u3066\u3044\u308b\u3068\u3044\u3046\u306e\u306f\u3001\u304a\u304b\u3057\u3044\u8b70\u8ad6\u306e\u3088\u3046\u306a\u6c17\u304c\u3057\u307e\u3059\u3002\uff08\u30a8\u30b0\u30b8\u30c3\u30c8\u3057\u305f\u3044\u6295\u8cc7\u5bb6\u306e\u6c17\u6301\u3061\u306f\u5206\u304b\u3089\u306a\u304f\u306f\u7121\u3044\u3067\u3059\u304c\u3001\u516c\u52df\u3059\u308b\u308f\u3051\u3067\u3059\u304b\u3089\u2026\uff09<\/p>\n<p>\u3067\u3001\u5b9f\u306f\u3082\u3063\u3068\u6df1\u523b\u3060\u3068\u601d\u3046\u306e\u306f\u3001\u3067\u306fM&amp;A\u304c\u5897\u3048\u3066\u3044\u308b\u304b\u3068\u3044\u3046\u3068\u305d\u306e\u9006\u3067\u3001<a 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