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Fruits of their Labours


rnowThis is an update to an earlier post really and an observation that getting into the ‘right’ space can pay off in the long run.  The earlier post talked about an investment we made in Zagme – one of the earliest mobile advertising plays – and the people around at that time.  Two of those people Chris Havemann and Russell Buckley continued with their passions and ended up with Research Now! and Admob respectively.  Well what do you know?  Both businesses got bought in the last couple of weeks.  Research Now! went for around £85m in a sale to VC-backed eRewards where Chris will continue as CEO of the combined entity as well as earning a nice payout.  Admob went for a storming $750m to Google.  I’ve always said that letting Zagme go was the one big regret from that era….  Entrepreneurs in the online space can take great comfort from these deals and perhaps they serve to remind us that an IPO is not necessary or in ResearchNow!’s case it’s not necessarily an exit itself.

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