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Small Biz Matters

Welcome to Small Biz Matters, where IBJ discusses issues of interest to small-business owners and entrepreneurs. I'm your host, Associate Editor Andrea Davis.

Small Business

Aprimo sale mints a slew of millionaires

February 25, 2011
KEYWORDS Small Business

If you wonder how many Hoosiers and Indiana institutional investors were made millionaires by the $525 million sale of Aprimo, co-founder and President Bill Godfrey has your answer: 23.

The figure includes a dozen local employees and 11 non-employee Hoosiers or institutional investors. Some were millionaires before the sale, but they now have at least another million in their pockets.

Venture capital firms with a stake in Aprimo included Cincinnati-based Blue Chip Venture Co. and four others in Boston, Chicago, New York and Seattle.

A lot of other people made money when the sale to Ohio-based Teradata closed in January. Aprimo generated at least $50,000 for 471 people and institutions. Of the 471, 211 are in Indiana.

Impressive, certainly. Even more impressive would be seeing some of those earnings plowed back into startups. It’s hard to remember that Aprimo itself was a startup 13 years ago.

Godfrey points out in an e-mail that Aprimo operations “will remain in Indianapolis as we chart our next wave of growth.”

He also says, “Given the profile of Aprimo’s employees and investors, whose careers are centered on building high-growth technology companies, I would anticipate that a meaningful amount of these profits will be re-invested into the next generation of technology start-ups in Indiana.”

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