Kiwi's Google deal may be worth US$400m
An ex-pat Kiwi's deal to sell her social media management company to Google could be worth up to US$400 million (NZ$491 million) according to a new report.
While The Wall Street Journal - citing sources close to the deal - reported that Victoria Ransom may be selling Wildfire for US$250m, CNN said it was told the real value was about US$400m once performance-related payments and retention bonuses were factored in.
Ransom, 36, a relaxed and down-to-earth Kiwi who grew up on an asparagus farm in the small village of Scotts Ferry near Bulls, said she felt a bit bad that paperwork meant she couldn't make any kind of statement to ''my fellow kiwis'' just yet.
She and her Swiss partner Alain Chuard sold a minority stake in the company to venture capital company Summit Partners and angel investors for US$4m in 2010.
But CNN Money indicated Ransom and Chuard may have only had to cede a quarter of the company in that funding round.
There were other investors and funding rounds, however, so the couple are likely to have owned less than three-quarters of the firm when it was sold to Google this week.
Wildfire was not a social media platform like Facebook or Twitter, but rather one that helped businesses manage social media campaigns.
It is understood that Google did not have an equivalent product.
- © Fairfax NZ News