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Compact case
Case
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Reference no. 810-050-1
Subject category: Entrepreneurship
Published by: London Business School
Originally published in: 2010
Version: February 2004
Length: 4 pages
Data source: Field research

Abstract

This is the second of a three-case series. Having swiftly raised GBP3m of start-up funding in September 1999, Clickmango.com launched in April 2000 into an investment climate that had completely changed from the one prevailing only months before. Newly IPO'd Internet stocks had fallen precipitously from their original valuations; venture capital funding was drying up and their negotiations to raise a further GBP10m had not succeeded. After exploring their options, cutting costs and developing a revised business model, Robert Norton and Toby Rowland needed a little more time to wrap up some strategic deals that looked promising. Unfortunately, they were nearly out of cash, and they were counting on Atlas Ventures to provide GBP300,000 in bridge financing to see them through. Would Atlas come through with the money? They would know that afternoon.
Location:
Industry:
Other setting(s):
2000

About

Abstract

This is the second of a three-case series. Having swiftly raised GBP3m of start-up funding in September 1999, Clickmango.com launched in April 2000 into an investment climate that had completely changed from the one prevailing only months before. Newly IPO'd Internet stocks had fallen precipitously from their original valuations; venture capital funding was drying up and their negotiations to raise a further GBP10m had not succeeded. After exploring their options, cutting costs and developing a revised business model, Robert Norton and Toby Rowland needed a little more time to wrap up some strategic deals that looked promising. Unfortunately, they were nearly out of cash, and they were counting on Atlas Ventures to provide GBP300,000 in bridge financing to see them through. Would Atlas come through with the money? They would know that afternoon.

Settings

Location:
Industry:
Other setting(s):
2000

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