Afterward, senior management texted directly to express their excitement and get the deal across the line., Another portfolio founder shared a similar experience. A co-investor with ties to the firm pointed to the arrival of Kris Fredrickson as something of a turning point, with the former Benchmark principal refining the team's tastes. Scott Hechlik PRESIDENT/Founder Meet Scott Audra Cona Chief Integration Officer Each one's character is, in some respect, reflected in the organization they have built., That is most true of Coatue's founder, Philippe Laffont. Individual salaries will, of course, vary depending on the job, department, location, as well as the individual skills and education of each employee. He has tied the knot with his lovely wife, Kat Timpf. However, other organizations have shown it is possible to achieve remarkable outcomes without the coarseness of Coatue's methods., One former employee remembered their time at the firm, saying, "I've never been yelled at moreFrequently, we would get called a fucking embarrassment." With the help of the hedge fund team, they'd compile research and walk through their thoughts on the market. In 2014, a young Wharton student, Alexander Izydorczyk, interned at the firm. The firm may, however, make short-term opportunistic investments as it sees fit. Coatue Management L.L.C. Philippe Laffont graduated from MIT (MS in Computer Science) in 1989. Define and improve user interfaces in tools and workflows between scientists and data annotators. Few would bet against them doing so again. The Generalists work is provided for informational purposes only and should not be construed as legal, business, investment, or tax advice. Cultural unrest has not stopped the firm from becoming a global standout. It should direct its next such experiment inward.. Limited partners (LPs) can see which strategies are paying off and make decisions accordingly. . Sebastian Duesterhoeft and Lucas Swisher arrived from Silver Lake and Kleiner Perkins, respectively. Not all of its experiments have succeededa high-profile internal investment in a new quant strategy flamed out spectacularly. As a former employee noted, that opportunity had arisen thanks to the firm's Wall Street connections, with a Morgan Stanley banker flagging the upcoming sale., It was a startone propelled forward by the closing of a formal venture vehicle. We combine decades of experience with unconventional agility and a hunger for innovation. Our data shows that employees in research & development roles earn the highest wages at Coatue Management, with an average yearly salary of $167,371. One former investor compared Coatue's preference for atomizing its vehicles with Tiger's more unified strategy, remarking, "Tiger's approach is smarter.". Increasingly, the firm is a true generalist in the private markets, a flexibility that has resulted in a much tighter deployment schedule. Though he continued to attain a Master's in Computer Science from the institution, he took a job at McKinsey's Madrid office upon graduation. Those have contributed to the growth team's purportedly strong performance, with a 2021 report suggesting that Coatue's 2017 vintage boasted an internal rate of return (IRR) of 47%., According to one source, Coatue's early-stage group has yet to find equivalent success. The principal office where Coatue Management, L.L.C. The former VP of Partnerships at Facebook, Rose was a long-time golf buddy of Thomas's and had stayed close to the team for years. "Philippe thinks the cream rises to the top," one person told me., Coatue's intensity is understandable from this vantage. To lead those efforts, the fund brought in Tony Zhang from DCM Ventures, a firm with deep connections to China and outstanding performance. The average salary of Coatue is $185,991 in the United States. If you only have a couple of minutes to spare, here's what investors, operators, and founders should know about Coatue. But the fact that a firm of Coatue's scale is willing to move, to experiment, to try, is the core of what makes it special., Another strange juxtaposition is the firm's clearest vulnerability. ", Coatue's involvement doesn't end once an investment has been made. Philippe Laffont. Again, this might sound logical but runs counter to other firms' strategies; I've heard more than one respected VC mention that their biggest mistakes have come from over-indexing on market size., Though Coatue's data abilities may play a more prominent role in winning a deal, it also helps with analysis. By 2017, this initiative began to pay off, with Coatue providing tailored insights to prospective investments and portfolio companies. For the most part, Coatue evaluates companies in-house. COATUE MANAGEMENT LLC. They knew they had "no chance" of getting Thomas to agree to a deal., Though he may cast a smaller shadow, Daniel Senft is a vital player at the firm. A source pointed to the firm's work with CommonStock, a social network for investors, as an example. The Board. "It's very different than others," the co-investor remarked, noting that if Coatue's team doesn't think a TAM is large enough, they will pass. If he chooses, he can very likely make close to any introduction for a portfolio company. Website. Kicking off in 2015, "East Meets West" was initially held at the Four Seasons on Hawaii's big island before moving to California's Pebble Beach in later years. 3.0 Not only has Coatue established itself in the ecosystem thanks to a string of successful bets, but it should be able to leverage Mosaic to great effect. One benefit of moving to Spain was that Philippe got to stay close to Ana Isabel Diez de Rivera, the woman that would become his wife. "No one's begrudging ten or fifteen million checks," an investor stated, suggesting that larger tickets likely needed Philippe Laffont's approval. It invests in public and private markets specializing in technology, media, telecommunications, the consumer, and healthcare sectors. Coatue Management, L.L.C. One attendee recalled a panel event featuring former Secretary of the Treasury Larry Summers and Coinbase CEO Brian Armstrong. Though the last two years have halted festivities, one source noted that they expected its return in one form or another. He landed an unpaid role at a mutual fund, but it didn't take long for him to parlay that into a better position. Learn about career opportunities at our portfolio companies. The premise behind this model is that it aligns incentives, meaning that investors are handsomely rewarded when their bets pay off., Coatue adheres to much more of a hedge fund model, even with its private market arm. Coatue Management's investment strategy is primarily based on fundamental research and a long-term investment horizon. "Thomas kind of shat all over it," a source with knowledge of the event said. The top 10% of employees earn more than $185k per year. An expos described him as a "screamer," a portrait corroborated in my conversations. This is a firm that moves quickly and jumps on opportunities. Again, there seems to be a blurred line between a tangible return and alluring triviality. A source described both Laffonts as "very scary." With a large enough data set, Mosaic could effectively create a list of prospects for a given startup, prioritized by the amount each was spending on a competitive product., The final core piece of Mosaic is its benchmarking capabilities. Nom et titre. The portfolio founders I spoke with said that Coatue strikes a good balance, succeeding in being helpful without sliding into meddlesomeness. "He's a very good poker player in the market," the individual noted., These gifts come with a particular fervor. (Coatue) maintains a single website, www.coatue.com, and Coatue does not solicit, offer, or sell securities via the Internet. "The thing that Coatue does not get enough credit for is that when they experiment, they experiment hard," one former employee remarked., It's interesting to envision how this DNA might manifest over the next couple of years. Former rising star and data wunderkind Alex Izydorczyk is parting ways with Coatue Management, the $48 billion hedge fund where he's led data science since 2016, according to sources familiar. The estimated base pay is $82,237 per year. While DST would go on to snag a sweetheart deal on the messaging service, investing even after Facebook had agreed on an acquisition, Coatue got its chance with Snap., Per the former employee, getting into the deal was a five-month endeavor. While that might have been true, it suggests a narrowly pragmatic worldview., While he may lack some of his brother's public market acuity, Thomas Laffont is reportedly the more affable of the duo, described by one person as "very charismatic." The Generalist helps you understand how the best businesses and investors win. Robust data science capabilities unite these components, allowing them to work and think together. Climate tech seems to be a particular focus, with a new $2 billion SPV recently added. It wasn't easy. the consumer and healthcare sectors. In tandem with this data drive, Coatue widened its aperture, pursuing deals in sectors it had previously eschewed. Still, strong talent continues to depart, and while Coatue will believe it can continue to attract gifted employees, humans are peskily non-fungible. "It shows the urge to winand the lengths he'll go to," the source said. New sectors have accompanied this structural growth. Occupational field . This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. By late 2002, the Nasdaq Composite lingered a touch above 1,200. Nevertheless, it gives a sense of how Coatue functions and governs.. All those who shared their experiences a group that included former employees, co-investors, and portfolio founders asked to remain anonymous. It seemed to give the firm the firepower to keep expanding its efforts.. Try for free at rocketreach.co . According to one source, even GPs don't receive carry on the investments they make, getting compensated in cash and bonuses instead. Coatue Management Reviews Updated 21 Jul 2022 Find Reviews Clear All English Filter Found 11 of over 11 reviews Sort Popular Popular Highest Rating Lowest Rating Most Recent Oldest first 3.3 37 % Recommend to a Friend 40 % Approve of CEO Philippe Laffont 5 Ratings Your trust is our top concern, so companies can't alter or remove reviews. By concentrating on what has been the most relevant sector in today's financial markets, Laffont has built his Coatue Management into a thriving firm that oversees $16 billion made up of hedge. The startup offered similar credit card data at a price point many businesses could afford. As the ex-Coatue investor recalled, "That was what put us on the map. Other investors will have played vital roles in each one of these businesses. [3] He worked as an analyst at McKinsey & Co. from 1992 to 1994 and served as a research analyst at Tiger Management Corp. from 1996 to 1999 before founding Coatue Management in 1999. It could do the same thing for DoorDash's Tony Xu, outlining where the food delivery business was gaining and losing share, which restaurants were driving most online sales, and which competitor he might be interested in acquiring. Senft primarily focuses on consumer internet businesses and has scored some major wins in that category, with the fund's backing of Bytedance, Tencent, and Facebook apparently down to him. Additional Contacts at Coatue Management. In that respect, Laffont's construction resembles the companies in which it invests more than many of its rivals. Glassdoor has salaries, wages, tips, bonuses, and hourly pay based upon employee reports and estimates. My source noted that Philippe Laffont realized the breakout potential of businesses like Zoom and Wayfair, raising $1 billion to snag them at depressed valuations. "What he does really well is super size the best ideas throughout his career," an investor close to the firm said, citing Coatue's track record of doubling down on breakout hits like Apple, Tencent, and Bytedance. They may also reveal information or provide tips on interviewing skill requirements, and other factors that could help when applying for a position at that company. This feels like a particular disappointment given Philippe Laffont's history with Tiger Management, a firm fabled for its cultivation of young talent. Of the group mentioned above, three are now publicly tradedofo and Kuaikan are yet to reach that stage., Coatue formalized its transnational approach with the introduction of the "East Meets West" conference. Research Coordinator. Though the Laffonts' firm deploys aggressively, it does seem to be pickier. We believe that investment strategies, like companies, must grow and evolve with the market. While Tiger Global is hands-off by design, Laffont's firm looks to balance proactive support with latitude. Unconvinced by the cryptocurrency sector, Summers made his opinion known, pressing Armstrong in the process. That interest proved helpful he applied to MIT and was accepted in 1985. "They found a cohort of people and paid them a shitton of money," they explained. At a conference, he met someone with inroads at Tiger Management, the famed hedge fund of Julian Robertson., As with Apple, Philippe was rejected at first. He had taken a very different path since graduating from the Lyce, attending Yale before heading to California. In a previous interview, he spoke almost gleefully about the "testosterone" of life on Wall Street, and he is certainly someone that has thrived in competition. Coatues performance has been built around strong in-house research, astute data analysis, and a stellar network. With the fund manager's time limited, most pitches need to be given in a minute or so. The firm's research process identifies investments through its own fundamental financial analysis process that includes interviews, information . Across the sources I spoke with, Mosaic seems to be impressive but not that important. Select a company name to explore and learn more about other companies across the industry and to compare average salaries with those at Coatue. Emerging and High Growth Companies. Though based in California, Thomas got in on the action, too, with the brothers sharing ideas., By Philippe's admission, it was fortuitous timing. We expanded our reach to Silicon Valley in 2013 in order to launch our growth investing business. Something went wrong while submitting the form. It bought 964,155 shares in the pharmaceutical firm. Coatue Company Jobs and Salaries The megafund might look like Tiger Global, but it's operating a very different playbook. (Coatue) maintains a single website, www.coatue.com, and Coatue does not solicit, offer, or sell securities via the Internet. "Two and out, two and out, two and out," a different source remarked, describing Coatue's habit of chewing up employees and spitting them out every two years., Not only does Coatue lose many talented investors thanks to its approach, but it also seems to offer little development for those it retains. It started by aggregating and parsing credit card data, showing what purchases had been made where. Fundamentally, there are three core business lines: public market investing, growth investing, and early-stage investing. Two years older than Thomas, Philippe described himself as a reclusive youngster, particularly in his teen years. Perhaps only a handful of firms have institutionalized their experience quite so effectively., What does all of this amount to? Website. "When I was sixteen, I either did not have the confidence or my parents did not let me go out enough," he noted.. [3], Coatue's annual "East Meets West" conference features tech entrepreneurs from the U.S. and China. Board members. One source I spoke with suggested its assets under management may now reach as high as $90 billion., Yet, as it has grown, Coatue has seemed to lose none of its nimbleness. ), LTD. FT - Family Law Paralegal Marietta (2219), FT Administrative Assistant/Research Assistant - Perimeter Area (2202). "We confused luck with skill," Philippe noted, adding that had he started investing during a less bullish era, he "would have for sure given up and done something else. After leading the Series A, Philippe Laffont reportedly sent a WhatsApp message to a group chat featuring dozens of billionaire investors, introducing them to the service. He also shared Thomas Laffont's connections to Hollywood, having spent more than seven years in business development at CAA. Founder Philippe Laffont sits at the top and is the firm's ultimate decision-maker and portfolio manager. Indeed, even compared to contemporary hedge funds and fellow crossovers, Coatue's casual venom seems out of touch., Ultimately, Coatue may not care about its cultural issues as long as performance remains solid. 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