Former ex CEO and Cofounder of MySpace Chris DeWolfe is said to be involved in raising money to fund some new entrepreneurial project that he is about to kick start soon. Since Chris Wolfe is considered to be a person who has the skillset and the required connections to make a venture successful, everyone is eagerly awaiting for the final news to become public. I am sure the association of a name like Chris DeWolfe is a nothing less then a big publicity. We all know how he made MySpace a success story in 5 years and made it a company of 1700 employees with a revenue base of approx $800 million. But he was not give the much deserved exit and showed the exit door in a manner he will not easily forget.
TechCrunch broke the story that Chris DeWolfe is in negotiation with few big venture capital firms to get the necessary funding and we are well aware that the venture capital funds will be more then interested to fund the idea of Chris DeWolfe. Lets keep the fingers crossed and wait to see what Chris is upto!
According to TechCrunch:
We’ve confirmed that DeWolfe has been pitching a number of private equity funds to raise up to $100 million for a roll up of an Internet industry vertical. In exchange for confirmation we’ve agreed to keep exactly what that vertical is confidential for now. But at least two funds, both with significantly more than $1 billion to work with, are interested. DeWolfe, as is his style, won’t comment on the fundraising.
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