Purnendu ojha wikipedia
Purnendu ojha wikipedia tieng viet.
Purnendu ojha wikipedia
NexTag sells stake for $830M, after facing death in 2000
Private equity firm Providence Equity Partners has acquired a two-thirds stake in comparison-shopping site NexTag Inc. for about $830 million, according to the WSJ’s Kevin Delaney.
The deal values the San Mateo, Calif.
Nextag at about $1.2 billion, and represents an amazingly lucrative deal for NexTag, which is just one of dozens of shopping search engines and which arguably doesn’t have any clear technology advantage compared to others.
VentureBeat has tried reaching the company over the past two days for comment, but it has not responded.
The deal, assuming it will be confirmed, also tells an emotional rags-to-riches turnaround.
The company, a was almost left for dead in 2000. Facing $700,000 in debt after the Internet bubble burst in 2000, chief executive Purnendu Ojha gave his employees a two-month notice. He then hunkered down with four executives and they took pay cuts of 85 percent.
They managed to save a staff of 1