Allen & Company

{{Short description|American investment bank}} {{Use mdy dates|date=March 2014}} {{Infobox company | name = Allen & Company LLC | logo = Allen & Company logo.png | type = Private | foundation = {{start date and age|1922}} | founder = Charles Robert Allen, Jr. | location_city = 711 Fifth Avenue<br>New York City | location_country = | location = | area_served = United States | key_people = Herbert Allen III | industry = Banking | products = Investment banking | revenue = | operating_income = | net_income = | assets = | equity = | num_employees = 170 <small>(2010)</small> | slogan = | homepage = none }}

'''Allen & Company LLC''' is an American privately held boutique investment bank based at 711 Fifth Avenue, New York.<ref name="Princeton Video SC 13G/A">{{Cite web |title=Allen & Co Inc/Allen Holding Inc, Form SC 13G/A, Filing Date Feb 15, 2001 |url=http://edgar.secdatabase.com/2281/93279901000059/filing-main.htm |access-date=May 15, 2018 |publisher=secdatabase.com}}</ref> The firm specializes in real estate, technology, media and entertainment.<ref>{{Cite web |date=February 20, 2008 |title=Trends: Secretive New York bank Allen & Co. gets into Silicon Valley media tech |url=https://venturebeat.com/2008/02/20/trends-secretive-new-york-bank-allen-co-gets-into-silicon-valley-media-tech/}}</ref><ref>{{Cite web |title=Allen & Company LLC-Company Profile-Vault.com |url=http://www.vault.com/company-profiles/commercial-banking-and-investment-banking/allen-company-llc/company-overview|website=Vault.com}}</ref>

==History== Founded in 1922 by Charles Robert Allen, Jr., he was soon joined by his brothers, Herbert A. Allen, Sr. and Harold Allen. The firm is generally regarded as a boutique advisory firm with a specific specialization in real estate and the media and entertainment sectors.<ref name="cnn">{{Cite news |last=Loomis |first=Carol J. |date=June 28, 2004 |title=Inside the Private World of Allen & Co. Putting a premium on personal ties, this family firm thrives in the land of the giants. |work=Fortune |url=https://money.cnn.com/magazines/fortune/fortune_archive/2004/06/28/374371/index.htm |url-status=dead |access-date=April 23, 2008 |archive-url=https://web.archive.org/web/20080411043950/https://money.cnn.com/magazines/fortune/fortune_archive/2004/06/28/374371/index.htm |archive-date=April 11, 2008}}</ref>

Allen & Company, which since 2002 has been run by Herbert Allen III,<ref>{{cite news |url=http://www.wsj.com/articles/SB10001424052702303636404579397112054095536 |title=Allen & Co. Flourishes as a Tech Deal Maker |author1=Douglas MacMillan |author2=Telis Demos |date=Feb 23, 2014}}</ref> grandnephew of the founder, generally shies away from publicity and does not maintain a website or issue press releases, with the exception of the extensive media procured for its annual conference evidenced by its allowance of access to the conference by financial media properties such as CNBC, ''The Wall Street Journal'' and others to cover its event.

In 1973, Allen & Company bought a stake in Columbia Pictures. When the business was sold in 1982 to Coca-Cola, it netted a significant profit. Since then, Herbert Allen, Jr. has had a place on Coca-Cola's board of directors.

Since its founding in 1982, the Allen & Company Sun Valley Conference has regularly drawn high-profile attendees such as Bill Gates, Warren Buffett, Rupert Murdoch, Barry Diller, Michael Eisner, Oprah Winfrey, Robert Johnson, Andy Grove, Richard Parsons, and Donald Keough.

Allen & Co. was one of ten underwriters for the Google initial public offering in 2004.<ref>{{Cite news|title=From Ferrari to Facebook: the incredible client list of Wall Street's most secretive firm |url=http://www.businessinsider.com/allen-and-cos-client-list-2015-10|publisher=Business Insider}}</ref> In 2007, Allen was sole advisor to Activision in its $18 billion merger with Vivendi Games.<ref>{{Cite web |title=Vivendi and Activision to Create Activision Blizzard - World's Largest, Most Profitable Pure-Play Video Game Publisher |url=http://investor.activision.com/news-releases/news-release-details/vivendi-and-activision-create-activision-blizzard-worlds-largest |website=Activision Blizzard, Inc.}}</ref> In 2011, the New York Mets hired Allen & Co. to sell a minority stake of the team. That deal later fell apart.<ref name="vardi">Nathan Vardi, [https://www.forbes.com/sites/nathanvardi/2011/05/26/david-einhorn-is-paying-a-big-premium-for-a-minority-stake-in-the-new-york-mets/#4019c4fe788a "David Einhorn In Deal For A Minority Stake In The New York Mets,"] ''Forbes'', May 26, 2011.</ref><ref name="sandomir">{{cite news|first1=Richard |last1=Sandomir|url=https://www.nytimes.com/2011/09/02/sports/baseball/mets-deal-with-einhorn-is-off.html |title=Deal to Sell Piece of Mets to Einhorn Falls Apart |newspaper=The New York Times |date= September 1, 2011}}</ref> In November 2013, Allen & Co. was one of seven underwriters on the initial public offering of Twitter.<ref>{{Cite news |title=Twitter Said to Pay 3.25% Bankers' Fee for Market Debut |work=Bloomberg |url=https://www.bloomberg.com/news/2013-10-11/twitter-said-to-pay-3-25-bankers-fee-for-market-debut.html}}</ref> Allen & Co. was the adviser of Facebook in its $19 billion acquisition of WhatsApp in February 2014.<ref>{{Cite news |date=February 19, 2014 |title=Facebook to buy WhatsApp for $19 billion |work=Reuters |url=https://www.reuters.com/article/us-whatsapp-facebook-idUSBREA1I26B20140219}}</ref>

In 2015, Allen & Co. was the advisor to Time Warner Cable in its $80 billion 2015 merger with Charter Communications,<ref>{{Cite web |title=From Ferrari to Facebook: the incredible client list of Wall Street's most secretive firm |website=Business Insider |url=http://www.businessinsider.com/allen-and-cos-client-list-2015-10}}</ref> AOL in its acquisition by Verizon,<ref>{{Cite web |date=May 12, 2015 |title=Verizon to acquire AOL |url=http://www.verizon.com/about/news/verizon-acquire-aol |website=www.verizon.com}}</ref> Centene Corporation in its $6.8 billion acquisition of Health Net,<ref>{{Cite web |title=Centene to Combine With Health Net in Transaction Valued at Approximately $6.8 Billion |url=http://www.centene.com/wp-content/uploads/2015/07/Centene_HealthNetPressRelease.pdf |url-status=dead |archive-url=https://web.archive.org/web/20150704095808/http://www.centene.com/wp-content/uploads/2015/07/Centene_HealthNetPressRelease.pdf |date=July 2, 2015 |archive-date=July 4, 2015 |access-date=September 11, 2016 |df=mdy-all}}</ref> and eBay in its separation from PayPal.<ref>{{Cite web |date=September 30, 2014 |title=eBay & PayPal to Become Independent Companies in 2015 |url=https://www.ebayinc.com/stories/news/ebay-paypal-become-independent-companies-2015/ |website=www.ebayinc.com}}</ref>

In 2016, Allen & Co was the lead advisor to Time Warner in its $108 billion acquisition by AT&T,<ref>{{Cite web |title=The massive AT&T-Time Warner deal could mean up to $390 million in fees for Wall Street banks |website=Business Insider |url=http://www.businessinsider.com/att-time-warner-bank-advisor-fees-2016-10}}</ref> LinkedIn for its merger talks with Microsoft,<ref>{{Cite web |date=June 13, 2016 |title=Microsoft to acquire LinkedIn - Stories |url=http://news.microsoft.com/2016/06/13/microsoft-to-acquire-linkedin/}}</ref> Walmart in its $3.3 billion purchase of Jet.com,<ref>{{Cite web |title=Walmart Agrees to Acquire Jet.com, One of the Fastest Growing e-Commerce Companies in the U.S. |url=http://news.walmart.com/2016/08/08/walmart-agrees-to-acquire-jetcom-one-of-the-fastest-growing-e-commerce-companies-in-the-us |website=news.walmart.com |access-date=September 11, 2016 |archive-date=September 10, 2016 |archive-url=https://web.archive.org/web/20160910005952/http://news.walmart.com/2016/08/08/walmart-agrees-to-acquire-jetcom-one-of-the-fastest-growing-e-commerce-companies-in-the-us |url-status=dead }}</ref> and Verizon in its $4.8 billion acquisition of Yahoo!.<ref>{{Cite web |date=July 25, 2016 |title=Verizon to acquire Yahoo's operating business |url=http://www.verizon.com/about/news/verizon-acquire-yahoos-operating-business |website=www.verizon.com |access-date=September 11, 2016 |archive-date=July 25, 2016 |archive-url=https://web.archive.org/web/20160725215951/http://www.verizon.com/about/news/verizon-acquire-yahoos-operating-business |url-status=dead }}</ref> In 2017, Allen & Co. was the advisor to Chewy.com in PetSmart's $3.35 billion purchase of the online retailer.<ref name="dye">{{cite news |first1=Jessica |last1=Dye |url=https://www.ft.com/content/eb88f235-3039-3b2d-bbce-4130dfaa13d7 |archive-url=https://ghostarchive.org/archive/20221211231233/https://www.ft.com/content/eb88f235-3039-3b2d-bbce-4130dfaa13d7 |archive-date=December 11, 2022 |url-access=subscription |url-status=live |title=PetSmart makes online push with Chewy.com deal |newspaper=Financial Times |date=April 18, 2017 |access-date=September 18, 2018 }}</ref>

== Presidents/CEOs == * Charles R. Allen, Jr. (1922–1994) * Herbert A. Allen, Jr. (1966–2002) * Herbert A. Allen III (2002– )

==Notable former employees== * Bob Kerrey, former Senator and Governor of Nebraska * George Tenet, former Director of the CIA<ref name="upi.com">{{Cite news |last=Waterman |first=Shaun |date=February 18, 2008 |title=Tenet gets job at secretive N.Y. bank |publisher=UPI.com |url=http://www.upi.com/Emerging_Threats/2008/02/18/Tenet_gets_job_at_secretive_NY_bank/UPI-64181203344822/ |access-date=December 27, 2008}}</ref> * Stephen Greenberg, son of baseball Hall of Fame Hank Greenberg<ref>{{Cite news |last=Whitford |first=David |date=May 25, 2010 |title=The king of the sports deal |work=Fortune |url=https://money.cnn.com/2010/05/10/news/companies/greenberg_sports_deal_king.fortune/ |url-status=dead |access-date=June 2, 2010 |archive-url=https://web.archive.org/web/20100522034442/https://money.cnn.com/2010/05/10/news/companies/greenberg_sports_deal_king.fortune/ |archive-date=May 22, 2010}}</ref> * Bill Bradley, former United States Senator and Basketball Hall of Fame * Dara Khosrowshahi, CEO of Uber Technologies

==References== {{Reflist}}

==Further reading== * {{cite news|url=https://money.cnn.com/magazines/fortune/fortune_archive/2004/06/28/374371/index.htm |archive-url=https://web.archive.org/web/20060110084632/http://money.cnn.com/magazines/fortune/fortune_archive/2004/06/28/374371/index.htm |url-status=dead |archive-date=January 10, 2006 |title=Inside the Private World of Allen & Co. |newspaper=CNN Money|date=2004-06-28}}

{{DEFAULTSORT:Allen and Company}} Category:1922 establishments in New York City Category:American companies established in 1922 Category:Banks established in 1922 Category:Banks based in New York City Category:Financial services companies established in 1922 Category:Investment banks in the United States