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MAY 22, 2013 - Betabeat

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Fred Wilson Denies PrivCo Report Union Square Ventures Made $253M Off Tumblr [UPDATED]

(Via http://castielmalotovedlucifer.tumblr.com/, God knows the original source) Order us up a dish of crow, because we might get a few more angels out of this Tumblr deal than we initially suspected. Crain's has analysis of the deal from PrivCo, and if these numbers are right, the company's investors, at least, made out none too shabby. According to PrivCo's analysis, Union Square Ventures will get $253 million--"mostly from a $400,000 seed investment it made in Tumblr in 2007." PrivCo believes USV invested less than $5 million and ballparks the firm's return at 5,000 percent. Early birds, ... Read More

Tags: Fred Wilson Denies PrivCo Report Union Square Ventures Made $253M Off Tumblr [UPDATED],  Foursquare Latest News