Company: thePlatform Inc.
Description: Digital media publishing system
Location: Seattle
Amount of VC raised : $12.5 million
VC firms: Spark Capital, Generation Partners, Davenport Capital Ventures
VC directors: Santo Politi, John Hawkins
Exit type: Trade Sale to Comcast
Exit valuation: $80-100 million
Absolute return: N/A
Memorable quote: When thePlatform acquired Rocketvox in 2001, the acquired company's CEO, Kelly Smith, became a board member of thePlatform. He said at the time: ""ThePlatform's architecture is truly visionary and will fundamentally change the economics of the digital media landscape." Still waiting for that one to come true.
Memorable awards: Featured in the Seybold Report in 2003.
Quick take: Spark Capital and Generation Partners, thePlatform's most recent venture capital investors, seem to have done alright through this exit. They invested $8 million in series B funding last year. The exact purchase price for thePlatform has not been disclosed but it seems a safe bet that it was less than $100 million, which should have provided Spark and Generation with at least a 3X return. Not bad for a few months of work. Early backer Davenport Capital Ventures, which last contributed back in 2001, appears to have dropped off the map so I'm not sure if anyone from the firm will even be around to cash their check. The backers of companies that thePlatform has acquired over the years -- such as RocketVox and ReliaCast -- didn't fare well either. These include KKR, Hicks, Muse, Tate & Furst, Thomas H. Lee Partners and Thomas Weisel Partners.

Tags: theplatform, comcast, vc, venture capital