[FoRK] Keiretsu News

Geege geege4 at bellsouth.net
Sun Oct 17 21:33:24 PDT 2004

File under "Execs Who've Paid Their Dues"




October 11, 2004

Investors at Keiretsu Forum see light at the end of tech tunnel


Angel investors who hung on during the dark days of the downturn are reaping
the rewards.



Well-known angel investor Bob Bozeman of Angel Investors LP told those 

attending Keiretsu Forum's Sept. 30 meeting in San Ramon that one of his 

fund's investments in Google that turned $200,000 into a stake worth $60 

million. And given Google's performance on Wall Street this month, one 

can probably tack on a million or two to that figure.


"Search is still rich. You'll see a lot of wealth created," Bozeman 



While not on the order of Google, Keiretsu sold one of its portfolio 

companies, Stream Theory of Santa Clara, for $25 million in stock to 

Tadpole Technology of the United Kingdom.


The payoff is sweet but didn't come without pain along way. The company 

survived its darkest days by paring staff and reducing executive pay to 

minimum wage -- and much of that pay, required by law, was deferred, 

said John Dilts, who serves on the company's board of directors and is 

managing director of Keiretsu's Westlake chapter in Southern California.


The sale of the company, which has created a new way to deliver software 

over broadband, includes a nice kicker because selling shareholders will 

receive additional payments based on revenue earned from major customer 

Softbank in Japan for a limited time.


Is it any wonder that the first meeting of Keiretsu's Silicon Valley 

chapter occurring later this month in Mountain View is already sold out?







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