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July 11, 2006
Swedish VC's Investment In Tradera's Slideware Paid Off
Provider Venture Partners apparently made 4.5X money on its vintage '99 investment in Tradera, the Swedish auction site acquired by eBay in April, according to Unquote's Private Equity Europe magazine (Issue 77 June 06).
eBay paid SEK365 for Tradera.com which had sales of SEK 50M in 2005. It was profitable and it had achieved a growth rate of 250 percent in the last year or so.
An interesting nugget of background info on this deal story is that Provider invested in 1999 when the founders only had a 30 page Powerpoint presentation to pitch. That was during the bubble era. A slideware-only Internet venture would be able to raise capital these days - startups have to show some "traction"- traffic or usage - before the VCs will take a meeting. At least they would for the VCs that we cover.
Read - Unquote's Private Equity Europe magazine
Read - eBay Acquires Tradera.com (a:c euro)
Posted on July 11, 2006 06:28 AM | Posted to News And Updates | Venture Capital | Permalink
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