The Band has had another nice headline exit with the news that Apple Computer has bought our portfolio company Shazam (July 2001 Dinner) for approximately $400M. They were a small team out of Stanford when they presented in the same room at the Los Altos Golf and Country Club that we still meet to this day. We invested at a $2M pre-money valuation at a time that the dot.com bubble was bursting and a nuclear winter in venture investing was soon coming. There is pride in having seeded a company with as much impact on the world as Shazam. The little project we helped get off the ground became the most downloaded app on the Apple App Store with more that 100 million active daily users. With this acquisition, of the Band's 277+ investments, 60 have now been acquired for a profit to investors, and 11 have gone public.
Read the TechCrunch article, which was first to report the acquisition.