Bono says, “More Palm, Baby”

Posted by Zealot on Sep 25, 2009

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Bono of U2
U2 "Vertigo" Tour at Vicente Calderon Stadium in Madrid - August 11, 2005
Vicente Calderon Stadium
Madrid,  Spain
August 11, 2005
Photo by Eduardo Parra/FilmMagic.com

To license this image (5656432), contact FilmMagic.com Blackberry may love U2, but U2 loves Palm, and is showing it in the old fashioned way…money.

In the recent secondary offering of Palm stock, Elevation partners, the private equity firm managed and co-founded by Bono of U2 bought an additional $35 million worth of Palm stock (about 2.2 million shares or one tenth of the secondary offering)  raising their share of the company from about a third to 42% of the extant stock. The market is seeing this as a show of faith in the company and it’s roadmap by Elevation, their largest single backer.

Bono would not return my calls asking for comment, but I did chase down band guitarist The Edge outside NY’s hip club The Jane Hotel and asked him about his view on Palm’s future in the smartphone market, but he just broke my camera and called me a tosser.

(Source: Barrons)

Zealot (839 Posts) - Website | Twitter | Facebook


By day a department manager and writer for a major network device vendor...by night Zealot stalks the mean magnetic streets, striking fear into the hearts of bandwidth abusers and theme park mascots. Zealot has been involved with mobile devices for more than a decade now, starting off with dumb phones, moving to PDAs and then to smartphones, notebooks and netbooks with the odd PMP thrown in. Most of his mobile time currently is spent on a Treo Pro, Zune HD, Thinkpad T61, HP Mini 311, iPod Touch 3G, iPad 16G or a Hackintoshed Compaq Mini 704. He proudly groks the Geek community and considers himself a Neo Maxi Zune Dweebie (thanks Wil Wheaton!).

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  • http://twitter.com/mobilitysite/status/4366699306 mobilitysite

    Bono says, “More Palm, Baby” http://bit.ly/KgYsZ

  • http://www.svpocketpc.com Pony99CA

    Dare I ask what a “tosser” is? I assume that it's not good, but that's about all.

    Steve

  • hulahoop

    IrateGamingZealot, is that you?

  • http://twitter.com/asimsoofi/status/4395291292 Asim Soofi

    RT @tweetmeme Bono says, “More Palm, Baby” http://bit.ly/w6AXM

  • http://bardhaven.wordpress.com Zealot

    Not as far as I know but hey I never know what I get up to while I'm not looking.

  • http://bardhaven.wordpress.com Zealot

    Not as far as I know but hey I never know what I get up to while I'm not looking.

  • http://twitter.com/biz_mobility/status/4417898629 Philippe Winthrop

    Can you say conflict of interest? Bono says, “More Palm, Baby” http://bit.ly/w6AXM

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