Tag Archives: Elevation Partners
Google+ To Host VC Office Hours
In order to capture additional attention from startup entrepreneurs, Google+ is hosting a series of events called VC Office Hours. Google VP of Product at Google+ Bradley Horowitz revealed some of the names that are participating in this series:
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Yelp Files For $100 Million IPO
Yelp is a local business review website that has filed for a $100 million IPO. Goldman Sachs, Citigroup, and Jefferies are working as the lead underwriters. However the San Francisco based company has not selected an exchange to be traded on. Yelp is using multiple classes of shares for the public offering.
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Elevation Partners’ $210 Million Investment In Facebook Is Now Worth $1 Billion
Elevation Partners has stake in Facebook through their earlier $210 million investment. That stake is currently worth close to $1 billion as it is worth $975 million. Elevation Partners is a venture capital company that is run by Fred Anderson, Roger McNamee, Avie Tevanian, Bret Pearlman, and U2 lead singer Bono.
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Categories Avie Tevanian, Bono, Bret Pearlman, Elevation Partners, Facebook, Fred Anderson, Roger McNamee, U2
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Marketing Analytics Company MarketShare Raises $32 Million From Elevation Partners
Private equity firm Elevation Partners has invested $32 million in marketing analytics company MarketShare Partners. This is a follow-on investment that Elevation put into MarketShare two years ago. MarketShare’s analytics tools allows companies to find out which of their marketing investments are working for online or in-store sales. MarketShare’s has used some of their capital to acquire smaller start-ups like MarketingNPV and JovianDATA. They plan on using this investment for strategic acquisitions and to expand in Europe and Asia. [paidContent]
Categories Elevation Partners, MarketShare
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Elevation Partners Marc Bodnick Joining Quora
Co-founding partner Marc Bodnick is quitting from Elevation Partners to join Quora, a Q&A website, according to multiple sources. This is the second co-founder to step down from Elevation since John Riccitiello became the CEO of Electronic Arts. Bodnick is associated with Elevation’s investments in Facebook and Yelp. Elevation invested $100 million in Yelp and Bodnick is on their board of directors. Elevation put in about $210 million in Facebook stock. Interestingly Bodnick is the sister-in-law of Facebook COO Sheryl Sandberg.
Categories Elevation Partners, Marc Bodnick, Quora
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Elevation Partners Invest $120 Million In Facebook
Elevation Partners has made a huge investment in Facebook in a deal worth $120 million. The $120 million investment gives Elevation Partners ownership of 5 million Facebook shares. This past November, Elevation Partners spent $90 million to purchase 2.5 million shares of Facebook. This means Elevation Partners owns 7.5 million shares of Facebook at a $14 billion valuation.
Categories Elevation Partners, Facebook
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HP ACQUIRES PALM FOR $1.2 BILLION
I feel like slapping myself for not buying stock in Palm because HP just announced that they are acquiring them for $1.2 billion. After the Palm Pre and the Palm Pixi struggled to compete in the smartphone market, the fate of webOS was unclear.
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Categories Elevation Partners, Hewlett Packard, HP, Jon Rubinstein, Palm Inc.
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Palm’s New CEO Jon Rubinstein To Make About $1.7 Million
Palm Inc. executive Jon Rubinstein is a former Apple executive. Earlier this week he had become the CEO of Palm from the Chairman position. The previous Palm CEO Ed Colligan will be moving to Elevation Partners. Elevation Partners is a major investor in Palm. Elevation invested $100 million into Palm this past December.
Rubinstein joined Palm around 2007 and helped the company develop the Pre phone. The Palm Pre had helped Sprint break a sales record and helped Texas Instruments boost their revenues. Rubinstein joined Apple around 1997 when Steve Jobs returned to the company. In 2001, Rubinstein was given credit for helping invent the iPod.
As the new CEO, Rubinstein will receive about $1.7 million per year. For leaving the company Colligan will receive $1.2 million payable in several chunks over the next year.
[via mocoNews]
Categories Ed Colligan, Elevation Partners, Jon Rubinstein, Palm Inc., Palm Pre
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Palm Raises $83.9 Million After Boosting Stock Offering
Today the shares of Palm, Inc. (NASDAQ:PALM) rose about 15%. The company increased the size of their secondary offering and raised $83.9 million as part of the process. The company sold 23.13 million shares as part of the secondary offering taking place between now and March 31.
Palm was initially expecting to sell 18.5 million shares being held by investor Elevation Partners. Palm added the extra 4.63 million shares at a price of $6 per share. Through the offering, Elevation Partners made about $49 million. Palm plans to use the capital raised to push the hype of the Pre in the smartphone market. So far the Pre is looking hot.
Engadget editor Joshua Topolsky took the device on the Jimmy Fallon last night to show it off. Perhaps that plug helped Palm’s stock in a way.
[via CNET]
Categories Elevation Partners, Palm Inc.
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