The numbers it has for that are $500,000 invested in 2010, returning proceeds of $2.5 billion, or 5,000x its investment. I saw some slightly different figures in other publications.
Of course, these results came from the WSJ, not First Round. And I’m not sure they recognized that about 40% of First Round shares were sold last year as part of the Softbank offer, according to sources.
Planning for the capital gains on that profit must have been a bear.
Zayo Group Holdings, Inc., after an extensive review period, agreed to be acquired by PE firms Digital Colony and EQT, for $14.3 billion including $5.9 billion of net debt, in a deal announced Wednesday.
Zayo, under pressure, said in March it was looking at strategic options.
Boulder, Colo.-based Zayo operates a 131,000-mile fiber network in the U.S., Canada and Europe that connects to thousands of buildings and data centers.
Zayo has a strong east coast network and a data center at 401 N Broad St. It had been subject to periodic speculation in the past that Comcast might be interested in acquiring it.
But Zayo might find its ultimate purpose as an acquisition by someone building out 5g.
I had thought RedBird Capital, minority investor in Sinclair’s buyout of Fox Regional Sports, was a play on the Cardinals given it had been heavily involved in some St.Louis deals. Actually, its named for founder Gerry Cardinale, a Main Line nativehttps://t.co/PlWVuLRPGs— Tom Paine (@phillytechnews) May 4, 2019
Sungard Availability Services Capital filed for bankruptcy with a plan in place to cut its $1.3 billion debt load and hand control to a group of hedge funds https://t.co/j8VHCLaYS0 via @markets — Tom Paine (@phillytechnews) May 3, 2019
Also on Diginomica, Den Howlett and Brian Somer give us the low down on Paul Singer’s (Elliot Management) billion dollar stake in SAP, and don’t roundly condemn it, suggesting a little more vision and focus is needed there.
You might remember Kanojia’s prior startup, Aereo, which simply tried to give consumers what in effect was free streaming OTA access, only to be struck down by no less authority than the Supreme Court. Taking on the cable industry is difficult.
The newest startup offers wireless internet connectivity by relying on high-rise-mounted transmitters that dispatch millimeter wavelength signals to receivers connected to a building’s existing wiring.