Jun 4, 2013, 11:22am PDT

Valley VCs score big on $2.3B ExactTarget-Salesforce sale

Several Silicon Valley venture firms scored big on Salesforce.com's $2.3 billion acquisition of ExactTarget.

	Sponsored Links
	Planning for Retirement? $500,000 portfolio? Download the guide by Forbes Columnist Ken Fisher's firm. www.FisherInvestments.com
	Cisco SmartPlay—UCS C-Series Servers Bundle discounts on Cisco UCS C-Series Rack Servers with Intel® Xeon® processors www.buildprice.cisco.com
Get Listed Here

Cromwell Schubarth: Senior Technology Reporter- Silicon Valley Business Journal; Email | Twitter | Google+

ExactTarget's Indianapolis headquarters is a long way from Silicon Valley, but there are likely to be some very happy venture investors around back here after Salesforce.com agreed to pay about $2.3 billion for the marketing software company.
Palo Alto-based Technology Crossover Ventures is ExactTarget's third biggest stakeholder, with about 8.5 million shares, or a 12 percent stake. That stake rose by about $100 million overnight after Salesforce agreed to pay a premium of more than 50 percent in the deal.
Menlo Park-based Battery Ventures is another big stakeholder, with 4.5 million shares, about a 7 percent stake. That is good for an overnight jump of more than $50 million.
Another early Silicon Valley backer of ExactTarget is Scale Venture Partners, but its stake is below the 5 percent reporting threshold required to be disclosed in SEC filings.
The biggest shareholders are Maryland venture firm Greenspring Associates, with a 15 percent stake, and Boston-based mutual fund giant Fidelity Management & Research, which has a 13 percent stake.
Click here to subscribe to TechFlash Silicon Valley, the free daily email newsletter about founders and funders in the region.

Cromwell Schubarth is the Senior Technology Reporter at the Business Journal. His phone number is 408.299.1823.

Industries:

Banking & Financial Services, Technology

We recommend

Where next? Cleveland med school campus farthest reach yet for OU BizJournals
Bi-Lo CEO: Jacksonville needs to capitalize on biz friendly reputation BizJournals
Raymond James to lay off 160 employees BizJournals
Ashland City's troubled Braxton Condominiums sold for $14.5 million BizJournals
Salesforce buying ExactTarget in surprise $2.5 billion deal BizJournals

From around the web

10 Things BlackBerry Z10 Does That iPhone Can't CIO.com
What is the MOST Reliable Car on the Market? Consumer Car Reviews
Controlling Blood Sugar Without Medication Lifescript.com
The Funniest Office Space Moments Work Reimagined
Medical Device Excise Tax Goes into Effect Moss Adams

What's this?

Comments

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.