Read without ads and support Scribd by becoming a Scribd Premium Reader.
See Premium Plans
 
Redpoint Ventures Forms $400 Million Fund for Social and Mobile Internet,Cloud Computing and Clean Technology
Redpoint Portfolio Exits Total Nearly $2B in Aggregate Market Value in Past Six Months
Menlo Park, CA, February 9, 2010  Redpoint Ventures today announced that it has closedRedpoint IV, a $400 million early stage, venture capital fund. Redpoint IV will be used to backentrepreneurs and companies that will accelerate innovation in the social and mobile Internet,cloud computing and clean technology spaces. In the past six months, Redpoint entrepreneurshave realized significant liquidity, totaling nearly $2B in aggregate market value including: theIPO of Fortinet, and the acquisitions of LifeSize, WiChorus, Networks in Motion, and Kazeon.Additionally, portfolio companies Calix and Solyndra have filed for their IPO."This latest Redpoint fund will help entrepreneurs fulfill their dreams in a world of promisingopportunity, and signals an exciting period for early stage investing over the next five years,said Geoff Yang, founding partner of Redpoint Ventures. "We continue tofind entrepreneurs who have brilliant ideas and an increasingly strong desire to change theworld. We are committed to invest in those entrepreneurs, to stand behind their ideas and tohelp them achieve their goals."Redpoints mission from the start has been to stand behind entrepreneurs to build businessesthat shape the future. Redpoints collective strength and experience as a team has producedstrong results investing in companies such as Danger, Fortinet, HomeAway, MySpace, LifeSize,RightMedia, and Zimbra. Redpoint has also invested in emerging leaders including: 2tor,Answers, BlueKai, Clearwell, Envia, Gaia Online, Heroku, Jumptap, and Scribd.As the worldwide leader of online vacation rental listing, our goal is to become a well-knownalternative to hotels for vacation travelers. HomeAway represents nearly 430,000 vacationrental home listings across more than 120 countries, said Brian Sharples, CEO of HomeAway.com. Redpoint, as our earliest investor, has helped support and guide thecompany since the beginning.We had a vision of democratizing publishing and changing the way people express themselvesthrough the written word, and we sought out investors who are passionate about what wewant to achieve, said Trip Adler, CEO of Scribd, the largest social publishing company in theworld. The Redpoint team stands behind what we are trying to accomplish and has been aninvaluable source of advice about how best to navigate the evolution of our business and ourindustry. Scribd currently hosts more than 10 million documents read by tens of millions of readers each month.We are highly selective about how we invest in this current economic climate and only choosepartners that are in a position to help accelerate game-changing companies, said
Fred Giuffrida,
Search
Search History:
Searching...
Result 00 of 00
00 results for result for
  • p.
    • Notes
    Load more