For a portfolio bulging with winners, Benchmark Capital has been slow to achieve liquidity events. But, patience is paying off. The firm started slow in 2007 with TellMe's sale to Microsoft earlier this year. More recently, another capital hungry startup, Infinera, achieved an exit via an IPO. And today, news was leaked about Business.com seeking a sale for more than $300 million in a move that would appear to be Benchmark Capital's most profitable exit of the year.
Business.com has raised a total of $58 million since its inception in 1999. Most recently, it closed a $10 million Series C round from Benchmark in 2004. Dow Jones and The New York Times Co. were mentioned as potential buyers.
Benchmark seems to have planned for Business.com leaving its fold. It's already backed two other companies that are based on a similar business model of providing business oriented information in order to attract business advertisers. Benchmark's Zillow is targeting real estate and mortgage brokerage ad dollars while Avvo is going after lawyers' marketing budgets.
For more on the Business.com auction, see:
Wall Street Journal
Tags: benchmark+capital, business.com, zillow,avvo, vc, venture capital
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