Informed Source
Turning a tidy profit
Baltimore Business Journal - by Scott Dance Staff
When Bill Me Later sold to eBay for $945 million earlier this month, it meant that the company’s cache of secrets — which would have been laid out in the registration filing for an initial public offering the company was prepping for — would never see the light of day.
But some tidbits have come out in the wash, and more will soon.
Amazon.com had made an equity investment in the Timonium online payment firm in December 2007 but didn’t say how large it was.
It’s still not telling, but the online mega-retailer revealed in an SEC filing that it will make a windfall of “approximately $150 million” when the deal closes on the acquisition of “a third party … in which we held an equity-method investment.”
Stay tuned to future filings for the rest of the dirt — including whether Amazon turned a profit on the investment, and, if so, how much.
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