Disqus
Palm’s primary investor, Elevation Partners, juiced the company with $100 million in December, but Palm is urging them to sell off half of the stock earned from the injection, in the hopes of making upwards of $49 million. You would think that this would be Palm trying to make enough money to stay afloat until the Pre launches, but Palm actually stipulates that Elevation Partners would just buy up common stock. The Palm Pre is rumoured to launch this month, so who knows how the stock will be doing in a few weeks from now – as is, releasing stocks to the public will likely dilute the market even further.
[via The Street]
About The Author
Simon Sage
Simon Sage’s education largely surrounded writing, technology and online community, leading him to begin his blogging career at www.BlackBerryCool.com and to quickly discover a vibrant and active community surrounding BlackBerry and mobile technology. In exploring RIM’s platform, he has learned what enterprises are looking for in mobility as well as what makes the innocuous BlackBerry so appealing to them. Recently Simon’s been covering RIM’s gradual move into an already-crowded consumer market, and the impact of burgeoning challengers, such as the iPhone, as well as long-time leaders, like Nokia, on BlackBerry’s advancement. With plenty of content under his belt, Simon will be branching off a bit to see what other smartphone manufacturers are working on while still using BlackBerry as a barometer. At IntoMobile, you can count on his posts being even-handed, well-informed and thought-out.
