NOKIA investment in Rocket Fuel - SKYROCKETS
The original investment by Nokia's venture capitalist division into Rocket Fuel more than Doubled as IPO shares go BALLISTIC after opening up last week.
Rocket Fuel landed on Wall Street with a full tank of new cash Friday, and shares exploded after an initial public offering that valued the ad-tech company at nearly $1 billion.
The stock opened Friday morning just before 8 a.m. Pacific time at more than double the IPO price, $59.95, and traded in a range from $54.51 to $62.50 before closing at $56.10, a first-day "pop" of 93.5 percent.
The company's venture capital backers include Mohr Davidow, Nokia Growth Partners, Labrador Ventures and Northgate Capital.
One thing Microsoft didn’t get, but it might still benefit from: Nokia’s venture capital group.
The acquisition of the Finnish mobile handset maker didn’t include Nokia Growth Partners. The investment vehicle is free to continue its mission of finding and funding the most promising mobile startups. With more than $600 million now under management, Nokia Growth Partners has some 27 active investments in mobile startups tackling everything from e-commerce and micro-optical technology to video streaming and security.
Nokia Growth Partners invests in companies that are changing the face of mobility, communications and the internet. NGP offers industry expertise, capital and an extensive network, enabling entrepreneurs to build disruptive, industry-changing companies and take them to the global market. With offices in the US, Europe, India and China, NGP extends the reach of companies making their products and services local everywhere.
Rocket Fuel is an example of what Nokia Venture group invests in, and by this axample it looks like it knows how to pick winners.