Another Pre-IPO Windfall
Last week, we told you how the founders of FastClick recently cashed out of their late-stage Internet ad startup to the tune of $32 million before the company went public or was acquired. This morning, the wires are buzzing with news of a similar deal. Webroot, a Boulder, Colo.-based maker of anti-spyware software, has raised $108 million from VC firms Technology Crossover Partners, Accel Partners, and Mayfield. Like FastClick, Webroot is a late-stage private venture (founded in 1997) that had never raised a large round of VC before. And like Fastclick's founders, Webroot's founders have sold much of their stake to the VCs who put up the $108 million, according to several news reports. I haven't yet heard how much they sold, but I would wager we'll all know soon -- can an S-1 be far off?
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