Elevation Partners related stories
All articles and analysis
- Chapter ends on Reader's Digest LBO
Magazine publisher, bought in a $2.4B deal two years ago, files Chapter 11
- peHUB First Read
* USA Today has an exhaustive list of private equity firm contributions to elected officials http://www.usatoday.com/money/perfi/funds/2009-08-27-pension-fund-donations-graphic_N.htm * Must-read for bosses: What alienates top performers http://blogs.harvardbusiness.org/demaio/2009/08/how-to-alienate-a-top-performe.html * Last week you were able to ask Tim Geithner a question via Digg. This week you can apparently ask Barney Frank a questions via Bravo TV's website http://www.politico.com/blogs/anneschroeder/ * Morning Call: U.S. futures point higher http://www.reuters.com/article/usMktRpt/idUSLS59488420090828 London rises on revised Q2 GDP http://www.reuters.com/article/londonMktRpt/idUSLS68076020090828 European shares advance http://www.reuters.com/article/eurMktRpt/idUSLS61552620090828 the Nikkei edges up http://www.reuters.com/article/tokyoMktRpt/idUST20808820090828 and Hong Kong shares drop http://www.reuters.com/article/hongkongMktRpt/idUSHKG32085020090828 * Jabil Systems is laying off more than 300 workers via a plant closure in Billerica, Mass., but is a case study in how to help ease the pain http://www.boston.com/business/articles/2009/08/28/easing_the_pain_of_a_shutdown/?p1=Well_MostPop_Emailed5 * Theo Francis: The FDIC's cushion is bigger than it looks http://www.businessweek.com/blogs/money_politics/archives/2009/08/why_fdics_shink.html * TechCrunch reports that an investor group is forming to make a bid for Skype http://www.techcrunch.com/2009/08/28/investor-group-makes-play-for-skype/ including original backer Index Ventures and newbie venture firm Andreessen Horowitz. The last time these rumors came up was back in April https://admin.venturecapitaljournal.com/36896/skype-founders-talk-to-pe-firms-about-buyback-from-ebay/ when Skype's co-founders reportedly teamed up http://blogs.wsj.com/deals/2009/04/13/kkr-warburg-providence-and-elevation-surface-in-skype-bid/ with firms like Warburg Pincus, KKR, Elevation Partners and Providence Equity Partners. eBay quickly nixed that talk by announcing plans for a Skype IPO in the first half of 2010, so we'll see how they respond this time (perhaps with an S-1?).
- peHUB Wire: Tuesday, July 21, 2009
Random Ramblings
- What Is Bono Doing?
Can you imagine Facebook investor Jim Breyer (Accel Partners) appearing in an advertisement for MySpace? How about Blackstone boss Steve Schwarzman, whose firm owns Hilton Hotels, promoting Marriott? Or George Steinbrenner calling to ask if you'd like to buy Red Sox season tickets? Of course not, because it doesn't make any sense. So what are we to make of Bono -- a partner with private equity firm Elevation Partners, which owns around 40% of Palm --shilling for Palm rival BlackBerry in a new television advertisement (view after jump)? Apologists would give a twofold argument: (1) Bono has smartly kept his many business interests separate, which means that U2 doesn't pay attention to Elevation, and vice versa; (2) BlackBerry maker RIM stepped up in a tough economy to sponsor U2's upcoming tour, and there is no indication that Palm made a similar offer. All well and good for Bono and U2, but lousy for Elevation's investors. This group backed Elevation, in part, after being told that Bono brought unparalleled expertise in the firm's target markets of consumer, entertainment and media. Not a hard sell, but also not a private one. In other words, the public at large also gives Bono that same credibility, and he's now leveraging it to hurt one of the firm's portfolio companies.