Elevation Partners
Private Equity | |
Founded | 2004 |
---|---|
Founders | |
Headquarters | Menlo Park, California, U.S. |
Products | Private equity funds |
Total assets | US$1.9 billion |
Number of employees | 20+ |
Website | www |
Elevation Partners was an American private equity firm that invested in intellectual property, technology and media companies. The firm had $1.9 billion of assets under management. The firm was founded in 2004 and was headquartered in New York City and Menlo Park, California. In the years 2012–2015, their assets were acquired by other companies, with portfolio under the name Elevation Partners closing in 2015. Some members of the board formed a company called "NextEquity Partners", which invests in similar sites. Rock musician Bono went on to co-found "The Rise Fund", dedicated to improving the United Nations' seven sectors of sustainable development.
History
Founding
Elevation Partners was founded by former
Investments
On March 22, 2005, as its first major venture Elevation attempted to purchase
In August 2006, Elevation announced that it had made an investment in
On June 4, 2007 Elevation Partners announced an investment of $325 million (€242 million) for a 25 percent stake in
Through September 2014 the fund had generated an 11.4% annual return.[15]
Relationship with Wikimedia
On March 20, 2008, the Associated Press published a story saying members of Elevation Partners had donated and raised more than a million dollars for the Wikimedia Foundation, and were possibly examining a deeper relationship.[16]
Portfolio companies
- Facebook[17]
- Forbes[7]
- Move, Inc.[7]
- SDI Media[citation needed]
- MarketShare[citation needed]
- Yelp, Inc.[7]
References
- ^ U2's Bono joining venture capital firm USA Today/AP, 6/15/2004
- ^ a b Paul Taylor and Daniel Pimlott: Palm sells stake to private equity firm. FT.com, June 4, 2007
- ^ "Business finance news - currency market news - online UK currency markets - financial news - Interactive Investor". Iii.co.uk. 2014-08-08. Retrieved 2014-08-12.
- ^ "SCi Bids 76.1 Mln Pounds for Eidos, Topping Elevation (Update1)". Bloomberg. March 22, 2005.
- ^ "Private Equity Group Buys Into Forbes". Forbes. August 7, 2006.
- ^ David Carr (August 7, 2006). "Investors, Including Bono, Buy a Piece of Forbes". The New York Times. Retrieved 2010-03-30.
- ^ San Francisco Business Times. Retrieved 2010-03-30.
- ^ abalk2 (Dec 18, 2006). "Irresponsible Rumormongering: 'Forbes', The Pensions Stripped Bare, What Does Bono Care?". Gawker. Archived from the original on 2010-08-23. Retrieved 2014-08-12.
- ^ Ryan Tate (2009-10-28). "Forbes Layoffs Are Here, and They're Brutal". Gawker. Archived from the original on 2014-08-12. Retrieved 2014-08-12.
- ^ "College Roommates - Forbes". Gawker. Archived from the original on 2010-04-16. Retrieved 2010-09-07..
- ^ Fried, Ina (June 7, 2007). "Palm hands Wall Street an unusual deal". ZDNet. Retrieved 2021-02-01.
- ^ Nick Wingfield (Oct 12, 2007). "Electronic Arts to Buy Videogame Developers". The Wall Street Journal. Retrieved 2007-10-11.
- ^ Electronic Arts (2007-10-11). "EA To Acquire BioWare Corp. and Pandemic Studios". Business Wire. Archived from the original on 2007-10-23. Retrieved 2007-10-11.
- ^ Arrington, Michael (2010-04-05). "Source: Elevation Partners Got About 1% Of Facebook For $90 Million". TechCrunch. Retrieved 2014-08-12.
- ^ Kosman, Josh, "TPG nabs Bono and Ashton Kutcher as special advisers", New York Post via affiliate MarketWatch, April 10, 2015. Retrieved 2015-04-10.
- ^ Brian Bergstein (2008-03-20). "Wikipedia Questions Paths to More Money". PhysOrg. Associated Press. Archived from the original on 2008-03-24. Retrieved 2008-03-20.
- ^ Oreskovic, Alexei (June 20, 2010). "Elevation Partners buys $120 million in Facebook shares". Reuters.