CoBe Capital completes the acquisition of Sendori from IAC/InterActiveCorp (NASDAQ: IACI)
Oakland, California – CoBe Capital is pleased to announce the acquisition of Sendori from IAC (NASDAQ: IACI).
Headquartered in Oakland, CA, Sendori partners with the largest and most respected brands in the world to deliver a simply better Internet navigation experience. Sendori works in tandem with a web browser’s address bar to dramatically speed access to tens of thousands of the most popular websites. Simply typing a brand, keyword or partial URL directly in the address bar delivers the correct website every time. Sendori also makes computers more secure since address typos, which may lead to malicious websites, are eliminated. The 30-plus employee company will operate as a standalone entity.
“We are very enthusiastic about adding Sendori to our portfolio of companies. This business represents an opportunity for CoBe to gain a foothold in the robust Internet space, and the new Sendori consumer application has the potential to drive the growth of the business,” said Neal Cohen, Founder and Managing Director at CoBe Capital. “We worked very hard to structure a transaction that is beneficial to all parties involved.”
“The Sendori team is excited to continue our mission of providing safe, secure, direct navigation to millions of Internet users. With capital and operational assistance from CoBe Capital we look to rapidly expand the number of consumers benefiting from our technology and brand partners,” said James Speer, President of Sendori.
Darren Chaffee led the transaction on behalf of CoBe Capital. Messrs. Cohen and Chaffee will serve as directors and work closely with Sendori management to expand the business. Mr. Speer will remain as President of Sendori.