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Bessemer, DAG profit from $101m Convertro sale to AOL

8 May 2014

network dataBessemer Venture Partners and DAG Ventures-backed Convertro has been bought by AOL in a $101m deal.

The company aims to help marketers and agencies maximise their return on advertising spending by giving insights into each channel, format, as creative and audience segment.

AOL’s deal comprises approximately $89m in cash, about $2m in converted stock awards and a potential $10m earn-out payable over a period of up to 17 months.

Bessemer first invested in the business through a Series A round in 2009, before following up alongside DAG with another $5m through a Series B in January last year.

MHS Capital and Founder Collective also invested through the Series A, although it is unclear whether they still held stakes prior to the AOL buyout.

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