Tangoe Delivers Edison 10X Return

LAWRENCEVILLE, NJ, September 12, 2013 – Edison Ventures proudly announces that it has exited Tangoe, Inc. (Nasdaq TNGO) of Orange, CT. Edison invested a total of $8M in Tangoe, with its initial investment in 2002. Tangoe completed its IPO in 2011. Edison’s investment in Tangoe generated total cash proceeds to Edison of $80M, or 10X investment cost for Edison.

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Categories: Investment Management, Investments

Author:NJ Tech Council

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One Comment on “Tangoe Delivers Edison 10X Return”

  1. Richiard J. Marini
    September 13, 2013 at 4:17 pm #

    This is funny. Tangoe, Inc and it’s executives have a mass class action lawsuit against them for securities fraud. Last yuear investigators released reports showing tangoe was using investor money to fuel M&A and then using acquired revenue to falsify orangic growth numbers in order to drive up their stock price. Also trades were low in volume which indiciate it’s a small number of people buying in order to mainupulate the stock price.This is what Edison partners is cheer leading? Edison partners all but cashed out their shares as well (see yahoo insider trades). Disgusting. Tangoe executives have been found of this illegal behavior in the past as well (see IMA lawsuit).

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