It’s better than TV

BeboI was listening to Radio  Five Live on the BBC this morning.

There was a story about AOL buying Bebo for USD850m.  The story focussed however on Balderton Capital – the only institutional investor in Bebo.  Balderton provided first-round financing of USD15m to acquire a 15.7% stake in May 2006.  They will now make a return of 9 times that on their investment.

The story carried an interview with Barry Maloney, one of the partners of Balderton and a director of Bebo since the investment in May 2006.  When the interviewer asked him what led him to think about investing in Bebo he recounted how his daughters had stopped fighting with him for the TV remote control and he went to see what they were doing instead.  What a great story!  I wonder if they’ll be getting some pretty damn nice ponies on birthdays to come.

Leave a Reply

Your email address will not be published. Required fields are marked *