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Will Twitter Dis-intermediate Investment Bankers?

October 5th, 2009 | 1 Comment | Posted in Management, Private Equity, Social Media, Venture Capital

It was bound to happen sooner or later.  In the past two weeks various sources have reported that two companies have sold themselves via Twitter.  The first sale was the Russian beer restaurant chain Tinkoff Restaurants to Russian-based private equity fund Mint Capital.  Russian entrepreneur Oleg Tinkov, who is known as Russia’s “Richard Branson“, announced his intention to exit Tinkoff via his Twitter account.  In 2008, Mint Capital invested $10 million in exchange for a minority stake in Tinkoff Restaurants. The fund brought in a new management team and eventually decided to buy out the entire restaurant business from Tinkov.

Last week Boston Globe blogger Scott Kirsner reported that programmer Craig Spitzkoff was able to sell his side project JobVent to Benchmark Capital backed Glassdoor for around $100,000.  According to Kirsner “last June, he mentioned on his blog that JobVent was for sale, and he sent out a tweet to his 185 followers on Twitter. “Found a few semi-interested parties,” he tweeted a few days later, “but nothing serious yet.” Later in June, he was “Skyping with a potential European JobVent.com suitor.” By July, the deal had closed.”

Now two small deals does not make a trend, but I’m sure that other small tech companies looking for some type of exit will try and leverage Tinkoff and JobVent’s experience.  Today, there are over 300,000 tweets on Twitter that carry either the #4sale or #forsale hashtag.  How long before we start seeing #Ineedanexit?

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One Response to “Will Twitter Dis-intermediate Investment Bankers?”

  1. Susan Kishner Says:

    Great Blog post. I am going to bookmark and read more often. I love the Blog template

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