Feb 14 2008
Valentines Day 2008 - It’s a Family Affair
I hope you’ve all done the right thing and bought that card, sent those flowers or given the Godiva to your significant other.
If you haven’t, let’s hope there are no repercussions from your thoughtlessness! If there’s “One Message” I could impart, it’s don’t forget your loved ones and family on this day.
A decent segue into this next piece, too.
That is Family, Nepotism and the purchase of Message One.
For those who missed it, MIchael Dell bought Message One for a whopping $155 million Tuesday, and his brother Adam is one of the principal investors of the company. I read a great deal of coverage on this and one particular blog post seemed worth sharing with you folks today. Gigaom, the great site from Om Malik really breaks things down quickly and gets right to the point.
Here’s the financial information from the filing that makes this so juicy (and what makes Gigaom so good):
- Impact Venture Advisors (wholly owned by Adam Dell) is expected to receive approximately $966,000 ($904,000 attributable to its interest in Impact Venture Partners and $62,000 attributable to its interest in Impact Entrepreneurs Fund)
- Michael Dell, Susan Dell and their children’s trust are expected to receive collectively approximately $12 million ($10.7 million attributable to their interest in Impact Venture Partners and $1.3 million attributable to their interest in Impact Entrepreneurs Fund)
- Mr. Dell’s parents are expected to receive approximately $450,000 (all attributable to their interest in Impact Entrepreneurs Fund).
Stacey Higgenbotham of Gigaom writes “When you’re Michael Dell, the money isn’t everything, but helping a brother get rid of a 10-year-old drag on the portfolio might count as a favor. But MessageOne fits with Dell’s efforts to offer more managed services, so sometimes a little nepotism isn’t all bad”
The purchase may be a good move in giving them entry into a space already occupied by Seagate, EVault and MetaLINCS.
Stephanie Balaouras at Forrester Research writes, “This acquisition will give Dell the cornerstone that it needs to build out its own suite of SaaS offerings”
For those who would like to read the Dell / MessageOne press release, click here
Happy Valentine’s Day
On the Mark