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June 7th, 2004, 05:48 AM #1
<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>WhenU CEO Avi Naider confirmed on Wednesday that the privately held company has hired Perseus Group, a San Francisco-based investment bank recently formed by former Robertson Stephenson executives. He declined to discuss WhenU's specific plans, saying the move aims to take advantage of rising interest in the desktop advertising software business.
"There's a lot of strategic alternatives we're exploring in the interest of taking the company to the next level," he said.
According to one venture capitalist familiar with WhenU's plans, Perseus is seeking $50 million from investors to buy out the company's founders and put in fresh capital. About $30 million would go toward the buyout, and $20 million would be infused into operations, according to the source, who asked to remain anonymous.
Full ArticleContinued Success,
The secret of success is constancy of purpose ~ Disraeli
June 7th, 2004, 07:31 AM #2
Fresh capital = more weapons.Karl Smith / PhillyBurbs.com: Your Internet Starts Here!
June 7th, 2004, 08:53 AM #3
looks like Avi see's the writing on the wall...
and want to get out while the gettin's good...
June 7th, 2004, 10:28 AM #4
Heh, if their $50 mil buyout falls through, I betcha we could come up with 50 or 60 dollars to take it off their hands. I could have all sortsa fun with that url.Following everyone else is a GREAT way to become average.
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