Update on eBuddy
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In one of my previous post I wrote about eBuddy’s 5 million in funding from Lowlands Capital. I mentioned “the guys from the states”, meaning Lowlands, but somewhat astonished Wouter found out that Lowlands Capital is a Dutch Venture Capitalist!!!!
This is even more remarkable. A Dutch VC pouring 5 million euros in an Internet company! That’s BIG news, and of course the news got on Techcrunch, but where were the big Dutch papers! Telegraaf, NRC, and Het Financieele Dagblad all missed this remarkable news.
Knowing this combined with the knowledge that eBuddy raised about a million a month before this round from Dutch Angel investors makes you wonder what is going on here!! It just doesn’t make sense. Why would eBuddy raise a million from Dutch Angel investors and then raise another five from a Dutch VC? If it was an American VC with a lot of credibility (Benchmark, Kleiner Perkins or fill in 10 others here) who know the American market from the inside out, I could see added value for eBuddy as well as the American VC -for having a European portfolio-.
No details on the deal have been disclosed, but I’m really curious, because something tells me that this is not just a 5 million capital gain on the bank account of eBuddy…..
Rodney.G said,
Wrote on November 29, 2006 @ 11:36 am
Hmmm…. sounds mystic, so whats the underlying deal here??
I think for eBuddy, it’s perhaps more convienent having Dutch investors rather than US innvestors. Look at it in this way, they speak the same (business) language. And perhaps, their Dutch ties, creates a stronger relationship.
It’s a good question… why US VC’s didn’t make the cut…
Could the distance be a (mental) barrier… or is it more in terms of management > Gaining a bigger say. Or do we simply want to take control and tell the guys at eBuddy what to do.
People sometimes forget there are huge cultural differences, between Europe and the US, and the way they do business.
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