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View from Elevation: Fred Anderson Discusses PalmElevation Partners was originally known for its high-profile partners, including Roger McNamee, Fred Anderson and Bono. But it quickly became better known as the firm that kept plugging money into Palm, the PDA maker whose popularity seemed to have peaked in around 2001. "As goes Palm as goes Elevation," summed up an investor in the firm's $1.8 billion debut fund. Last week, HP completed its $1.2 billion acquisition of Palm, which gave around a 5% cash-on-cash return from its $460 million in total investments. Not very good, but better than Elevation would have faired in the Palm bankruptcy that some predicted. To get a better sense of the Palm situation from Elevation's point of view, I spent some time on the phone with Fred Anderson, the ex-Apple CFO who repped Elevation on the Palm board of directors. The conversation actually took place back when the deal was first announced in April, but Palm lawyers prevented me from publishing it until now. What follows are some of his comments from our conversation:
- peHUB Wire: Wednesday, July 7, 2010
Random Ramblings
- peHUB Wire: Wednesday, July 7, 2010
Random Ramblings
- Executive moves, week of July 5, 2010
Personnel changes at WI Harper, Accel and other PE and VC firms worldwide
- Elevation Partners buys $120M in Facebook shares
Deal gives PE firm $1.5% stake in social networking company
- Where's The Love for Facebook/Elevation Partners Deal?
In any other given week, the fact that Elevation Partners this week bought $120 million of shares in Facebook, essentially valuing the social networking company at $23 billion, would be topic No. 1 on the Twittersphere and here at peHUB. But Tesla /75789/a-dissenting-ie-positive-view-of-tesla-motors/ drove forth its IPO, and Foursquare /75818/its-official-foursquare-gets-a-20m-venture-round/ finally located that Series B funding it was looking for. Nevertheless, Reuters reporter Alexei Oreskovic covered the Facebook/Elevation deal earlier today, which you can read here http://www.reuters.com/article/idUSTRE65S0CZ20100629 His story discusses the firm's previous investment in Facebook, which is also backed by Digital Sky Technologies, Microsoft and Accel Partners, among others. Also, Sarah Lacy wrote about
- Top 10 VC Recipients of 2010 (So Far)
The first half of 2010 is fast coming to a close, so it seems appropriate to rev up the old list-icle engine. This one is the 10 companies that have raised the most venture capital (so far) in 2010. There are a bunch of changes since we last did this, and the threshold to qualify is now $100 million. Overall, venture capitalists have invested around $8.6 billion into 1,123 U.S.-based companies in 2010 (36% increase over this time last year). Get the biggest raisers after the jump:
- peHUB First Read
* Deborah Gage: Why Dmitry Medvedev wants a Russian Silicon Valley http://www.smartplanet.com/technology/blog/thinking-tech/why-dmitry-medvedev-wants-a-russian-silicon-valley/4531/ * From CEO to Senate: Why some CEOs make better politicians than others http://knowledge.wharton.upenn.edu/article.cfm?articleid=2530 * Josie Garthwaite: Will Tesla's IPO take the checkered flag, or crash into the wall? http://earth2tech.com/2010/06/22/tesla-ipo-will-tesla-see-a-powerhouse-public-offering/ * Morning Call: U.S. futures point lower http://www.reuters.com/article/idUSTRE65L1KF20100624 London falls early http://www.reuters.com/article/idUSLDE65N0MI20100624 European shares continue slide http://www.reuters.com/article/idUSLDE65N0D020100624 the Nikkei flattens http://www.reuters.com/article/idUSLDE65N0D020100624 and China shares slip http://www.reuters.com/article/idUSTOE65N06Y20100624 * Paul Smalera: Why the future of dating sites is rocky http://www.thebigmoney.com/articles/judgments/2010/06/23/fleeharmonycom * Umair Haque: Four economic benchmarks we need right now http://blogs.hbr.org/haque/2010/06/four_economic_benchmarks_we_need.html * Adam Lashinsky: Elevation Partners is making deep back-office cuts http://tech.fortune.cnn.com/2010/06/23/elevation-hits-pause/ * Arrington reviews Kirkpatrick's Facebook tome: Great historical details, too much swooning http://techcrunch.com/2010/06/24/kirkpatrick-facebook-effect