Venture Firms Win With Billion-Dollar Quick Flips
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Venture capital firms, already reveling in the most vibrant initial public offering market in more than half a decade, are being further propelled by a spate of billion-dollar acquisitions.
Facebook Inc.’s agreement to buy Oculus VR Inc. this week for as much as $2.3 billion marked the fourth 10-digit deal this year of a venture-backed company. Just nine months ago, two-year-old Oculus raised money from Matrix Partners and Spark Capital at a $70 million valuation.