A tale of BlackBerry, investors and a $1B missed opportunity

BlackBerry to go private?

As reported by GigaOM and The Verge, BlackBerry had a  chance at a turn around last year when a group of angel investors, armed with a radical plan and $1 billion in cash commitments, wanted to take over the company. The takeover plan eventually failed, and BlackBerry again is now facing a financial crisis and possible sale.

Details on the “Project BBX” plan were posted by investor Robin Chan, who was part of the group that was interested in secretly taking over BlackBerry via its Board of Directors. The plan called for a radical change that would turn Blackberry into a services company that piggy-backed on the success of the iOS and Android. The plan failed when the investors only raised $1B and not the $6B needed to buy out the company.

You view the full plan on SlideShare and read more about it on GigaOM and The Verge.

[Via GigaOM and The Verge]

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