![]() ![]() Then there's the debate whether this is a Good Deal®. As Dibner says, this is the way it's supposed to work, and it's healthy for the ecosystem. Very likely, they're the ones - along with the founders - who will be celebrating the deal the most. ![]() In fact, e42 Ventures - a small investment firm founded by German entrepreneurs Alex Koch, Frank Thelen and Marc Sieberger - was the first financial backer of 6Wunderkinder back in late 2010 and remains a shareholder to this day. has also learned, and confirmed, that two of 6Wunderkinder's early investors, High-Tech Gründerfonds (HTGF) and T-Venture ( previously the venture capital arm of Deutsche Telekom) sold all of their shares to Earlybird VC and Sequoia in secondary transactions, respectively.ĭoes that mean Earlybird, Atomico and Sequoia were the only investors in 6Wunderkinder left on the cap table? No, it does not. Dibner pegs 6Wunderkinder's valuation at the last round at $76 million reports indicate it was more something like $60 million.Įither way, it doesn't look like Sequoia is making out like a bandit with this transaction. ![]() #WUNDERLIST REVIEW 2015 SERIES#To wit, the latter led the last ($19 million Series B) round for the Berlin startup, and likely put up the bulk of the cash. In a blog post, the very bright Gil Dibner (formerly a VC with Index Ventures and DFJ Esprit and now primarily an angel investor) speculates about the importance of the acquisition and the return for the investors involved.ĭubbing the deal a "triple wake-up call", he did some math and concluded that this deal is likely insignificant in terms of returns for 6Wunderkinder's late-stage investors, notably Sequoia Capital. Thirdly, there seems to be some confusion about 6Wunderkinder's current cap table. ![]() There's a world of difference between selling a company that has raised around $25 million in capital for $100 million or for $200 million - for the founders and its financial backers, no matter what stage they've invested in. Second of all, the purchase price range reported by the WSJ is very broad. Either those were totally unsubstantiated, or the price has come down fast during the negotiations. In fact, the word on the street was that 6Wunderkinder was on the block for $300 million only a few weeks ago. #WUNDERLIST REVIEW 2015 UPDATE#UPDATE 2: here's a list of 6Wunderkinder shareholders currently celebrating the dealĪlso worth noting: the German-language Manager Magazine reported that Microsoft was in late-stage negotiations for the acquisition of the Berlin startup on the 20th of May, more than ten days before the WSJ report, albeit without mentioning a price point. UPDATE: The deal has now been officially confirmed on the company blog. I have no doubt The Wall Street Journal's Amir Mizroch's source is solid, though, or it simply wouldn't have been published yesterday. While pundits - myself included - have taken to Twitter to debate whether this is a good deal for Berlin or not (it is, and it isn't), here are some thoughts and facts about the deal to give you some context.įirst of all, the acquisition has not been confirmed by either party yet. #WUNDERLIST REVIEW 2015 SOFTWARE#So Microsoft has seemingly made yet another acquisition that makes sense (what is it with the software giant lately?), picking up Berlin-based 6Wunderkinder and its well-designed, popular productivity app Wunderlist for a reported $100 million to $200 million. ![]()
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