Thawte (exit 1999)
Digital certificate and internet security company Thawte, started in 1995 in Cape Town by Mark Shuttleworth, was then sold to internet security firm Verisign in 1999 for $575-million.
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The CVP Top20 celebrates Cape based technology entrepreneurs who have set the benchmark for others to follow. All of the CVP Top20 have either achieved a significant successful exit, or raised meaningful venture capital or experienced exponential growth in their business. We look forward to adding to this list.
Digital certificate and internet security company Thawte, started in 1995 in Cape Town by Mark Shuttleworth, was then sold to internet security firm Verisign in 1999 for $575-million.
Mosaic built the Postilion payment system, the first high-end payment transaction switch for commodity hardware and operating systems (Windows).
Fundamo was a mobile financial service provider founded by Hannes Van Rensburg in Cape Town in 2000. It was bought by credit card company Visa in 2011 for $110-million.
The mobile platform was started in Stellenbosch by Herman Heunis in 2003. World of Avatar acquired the company from Heunis and MIH Holdings (a subsidiary of Naspers) in 2011 for R400-million or about $52-million at the time. MXit has since closed down.
Flash is a technology-driven company committed to making people’s lives easier. Its hardware and applications offer informal traders an affordable and safe payment system through which to do business in their communities. lIt is the largest informal retail network in Africa, featuring seamless integration across multiple technology platforms and channels.
Cloud Computing Company – Cloud computing startup Nimbula, which was founded in 2008 by Chris Pinkham and Willem van Biljon and was headquarted in Silicon Valley and Cape Town, was acquired in 2013 by software titan, Oracle for $110-million.
Cape Town based digital marketing company Quirk, started in 1999 by Rob Stokes, was acquired by advertising giant WPP in 2014 for a reported R350-million to R400-million ($35-million to $39-million) at the time of the sale.
Cape biotech company Kapa Biosystems, which was started by SA entrepreneur Paul McEwan in 2006, is likely the second biggest exit ever by an SA startup. The startup was sold to Swiss medical company Roche in 2015 for $445-million, according to the company’s 2015 annual report.
The deal is allegedly being investigated by US authorities according to a recent story by a Cape-based investigative news site. In South Africa the Minister of Science and Technology Naledi Pandor has set up a task team to look at whether there was not any fraudulent activity or foul play involved in the sale of the state’s initial 49% in Kapa Biosystems to US investors, for a mere $5-million.
A maker of themes and plugins for microblogging site WordPress, Woo Themes was started in 2008 by Adriaan Pienaar, Magnus Jepson, and Mark Forrester. The Cape Town-based startup, together with its sister site WooCommerce, sold in 2015 to web development company Automattic in a deal estimated to be worth over $30-million, according to a Techportal article at the time.
Cape Town based education platform GetSmarter, started in 2008 by Sam and Rob Paddock, is the biggest deal in at least the last two years. The company was sold to US edtech company 2U in 2017 (announced in May) for $103-million plus $20-million in cash.
Yuppiechef is an online retailer of kitchen and homeware products founded in 2006 by Andrew Smith and Shane Dryden in Cape Town, South Africa.
In founding SweepSouth, our aim was to modernise home services and to be the African pioneers in bringing technology to the industry. With over seven thousand cleaners, and thousands of satisfied customers being served monthly, we’re just getting started. Our mission is to create happy homes by providing dignified, flexible work at decent pay to our SweepStars.
Alphawave is a specialised technology investment group supporting businesses seeking to do things that are difficult to replicate. As organisations require more information about the world, their products and their customers, our group of 14 companies, more than 300 employees (including over 150 engineers, scientists and technicians), provide actionable intelligence in an always connected world.
© 2021 Cape Venture Partners
