Silver Lake invested $250 million in Red Ventures at a reported $1 billion via the NY Times. Silver Lake has previously invested in big boys like Alibaba, Dell, Skype, Go Daddy and more.
– Red Ventures has been around for 15 or so years and last raised capital in 2010 from General Atlantic.
– Clients of Red Ventures include: Direct TV, ADT Security, Verizon, MetLife and more.
– New funding likely to be used for international expansion (Brazil then Europe), improved technology and entrance into the energy industry.
– Red Ventures just opened up a new headquarters in Fort Mill, SC. SC Governor Nikki Haley was on hand. Headquarter perks include: spin room, basketball court, food court and more (it’s unreal).
“We’re in a phenomenal position for continued growth. Silver Lake’s global presence and relationships, technology industry expertise and value creation capabilities will be an invaluable addition as we expand our business with new partners and in new sectors.” Red Ventures CEO Ric Elias said in a statement.
“It’s the greatest company you’ve never heard of,” Greg Mondre, Silver Lake partner, said in an interview via NY Times.
— VentureBeat (@VentureBeat) January 7, 2015
— Alex Fernandez (@alexfislegend) January 7, 2015
Getting called “the greatest company you’ve never heard of” in a NY Times article? Not a bad start to our Wednesday: http://t.co/FJvdDMWZKY
— Eppie Vojt (@eppievojt) January 7, 2015
We love the Red Ventures business model. They’re going after a large market (customer acquisition) and they literally prove to big companies that they can acquire customers for less cost than the company. Love that it’s in Charlotte. Well, kinda in Charlotte (HQ’s just over the border in SC). Red Ventures co-founder/CEO – Ric Elias – was on Flight 1549 that crash-landed into the Hudson. Watch Ric’s TED Talks video about this experience (it’s only 5 minutes and it’s amazing).
Photos: Isabella Bartolucci & L Mueller / Charlotte Observer