Why hold forever investors are snapping up venture capital zombies | TechCrunch
News Source : TechCrunch
News Summary
- Bending Spoons has grown rapidly by acquiring stagnating tech brands like Evernote, Meetup, and Vimeo.
- Andrew Dumont, the founder and CEO of Curious, a firm that also acquires and revitalizes what he calls “venture zombies,” is convinced this “hold forever” strategy will become increasingly prominent in the coming years.
- “Our whole model is to buy these companies, make them profitable, and use those earnings to grow the business,’ Dumont said.
Italian company Bending Spoons flew largely under the radar until last month. In a span of 48 hours, the company announced the acquisition of AOL and a massive $270 million raise, quadrupling its val [+3976 chars]
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