Cloud Computing Is Growing Up, and Venture Capitalists Are Feeding ItDecember 13, 2010 No Comments
Nothing like a nice liquidity event to spark venture capitalist interest. Last week, on-demand-software giant Salesforce.com (CRM) acquired a software startup called Heroku for $212 million in cash. The startup, which provides a sandbox for software developers to build and publish Ruby-on-Rails applications (a programming system popular for fast Internet development), was only three years old and had raised a mere $13 million. So, the Salesforce buy provides a very nice exit for its investors and founders.