Balderton Capital Makes $140 Million For Selling Bebo Shares To AOL
“We got involved in an exciting and competitive investment in Bebo because we believed in the social networking space and the fact that Bebo was positioned for exponential growth,” stated Barry Maloney, a partner at Balderton.Â “Our expectations for Bebo have been exceeded in a relatively short period of time, and todayâ€™s transaction with AOL has delivered an exceptional return on our original investment in 2006.”
The venture capital firm, Balderton Capital has sold off their shares of Bebo to AOL today.Â The amount that they will earn from the deal is $140 million.Â This is about 9 times the return on investment that they made into the social network 2 years ago.Â Balderton plugged in $15 million to Bebo in May 2006.Â Balderton also invested in MySQL, which sold to Sun Microsystems for $1 billion.
Balderton is based in London, England.Â Balderton also invested in Betfair, Codemasters, Habbo Hotel, Setanta Sports.Â Balderton used to be the European arm of Benchmark Capital.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry