Factoring in everything from the Greek economy to the tech IPO landscape, a team of undergraduate students won the Barclays Investment Banking Case Competition at Haas Dec. 5.
Haas students Alan Li and Harshal Modi, both BS 14, teamed up with economics student Anish Agrawal and computer science student John Li in addressing IPO preparation for Millennial Media, a company offering mobile advertising and data platforms for apps.
The completion asked students to analyze factors affecting positioning and valuation, such as industry outlook, key macro trends, the most relevant methodologies for determining valuation, and a likely price to be paid by a strategic buyer. They then made recommendations on whether or not to proceed with an IPO. The winning team green-lighted IPO efforts with a valuation of $13 to $15 a share.
Barclays sponsors the competition as part of the firm’s ongoing commitment to UC Berkeley and campus recruiting, with the winning team awarded automatic entry into the first round of interviews for a summer analyst internship with Barclays’ Investment Banking Division Technology, Media, and Telecom coverage group in Menlo Park.
“The competition targets students considering a career in investment banking and provides a forum for them to demonstrate and further develop their finance and business skill set,” says Pooja Shah, BA 14 (Econ./Legal Studies), lead competition organizer. Outstanding members from non-winning finalists receive strong consideration for first-round interviews as well.
The Undergraduate Finance Association/Undergraduate Management Consulting Group hosts the competition. Teams are made up of students graduating between May 2014 and May 2015, with at least one non-business major.