Tuesday, June 10, 2014
Another Nearly $100M Exit In LA: Media Temple
Add another, big exit to the list of the growing list of companies in Southern California: Media Temple, the premium hosting provider founded by Demian Sellfors. The company was actually acquired in October, however, no financials on that acquisition were announced at the time. However, thanks to the IPO filing of acquiring company GoDaddy last night, we now know how much was paid for Media Temple: $94.48M in cash. Southern California has had a string of large, multi-million dollar exits in recent months, including Beats Electronics ($3 billion), TrueCar (IPO), Rubicon Project (IPO), Internet Brands ($1.1 billion), Convertro ($101M), Inktank ($175M), Oculus VR ($2 billion), and Maker Studios ($950M), just to mention a few.