Crashlytics joins Twitter
January 28, 2013 § Leave a comment
Today, we are pleased to congratulate Crashlytics, one of our wonderful seed-stage investments on their acquisition by Twitter (announcement here). The acquisition of this company started by Wayne Chang and Jeff Seibert, two brilliant and hard-working entrepreneurs, represents our second successful exit in the few years that Apricot Capital has been operating. We are so happy for the whole Crashlytics team and can’t think of a better partner to help fulfill the vision of the company. Crashlytics is a lightweight crash reporting solution that is used by some of the largest mobile and web companies in the world. We like to think of them as more of the director in a film than the lead actor.
When my partner and I (Jennifer Lum, Cofounder of Adelphic Mobile and Peter Wernau, CEO of Wernau Asset Management) started Apricot Capital in the summer of 2010, the world was far from certain. The global economy was just beginning to find its footing after the worst banking crisis in a generation and capital was scarce and scared.
So we decided to start a seed-stage investment company… not necessarily the logical conclusion you might draw. As committed value and vision investors, we thought we saw the opportunity to invest in the ideas of a few great entrepreneurs at reasonable prices. In a way, we saw it as a path to creating value in what some termed the “new normal”. Having had some of our own success, we also saw it as a bit of a responsibility.
Jennifer’s vision for identifying great new innovative ideas in technology with a path for scale and success was combined Peter’s financial analysis and value expertise to create an independent Angel investment company. To date, the firm has invested in 13 seed-stage companies many of which have raised substantial A rounds and two of which have now been acquired (Peekaboo Mobile by nSphere in 2011 and Crashlytics by Twitter in 2013).
As we move forward, we remain engaged and excited by the entrepreneurs who are our partners in developing the next generation of great companies. Crashlytics acquisition by Twitter shows that strategic partners continue to value a good idea that is integral to the technology ecosystem, whether it is in front of or behind the camera.