Friday, June 10, 2011
Report: $400M Acquisition of AdMeld Huge Exit For Foundry Group
A reported acquisition of New York-based online advertising firm AdMeld by Google would be a huge exit for Boulder-based venture capital firm Foundry Group, if confirmed. The acquisition has not yet been announced by either of the firms, but is reportedly worth $400M, according to TechCrunch. AdMeld had raised $30M form its investors, which included Foundry Group, Norwest Venture Partners, Time Warner Investments, and Spark Capital. Foundry and Spark were the initial backers of AdMeld, based in New York, in 2008. Foundry's investment in AdMeld was managed by Seth Levine.