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Wharton Pals Cash In for More Than $70M Apiece

Jack Abraham and Nat Turner, one-time Wharton Venture Award winners, recently sold their companies for big profits, reports the Wall Street Journal.

Abraham sold two-year-old Milo Inc. to eBay Inc. last week in a deal worth about $75 million. Milo, which operates a website that helps consumers find products in brick-and-mortar stores, raised a $4 million Series A funding in November 2009 from True Ventures, Founder Collective and a roster of prominent angel investors.

Turner sold three-year-old demand-side advertising platform Invite Media Inc. to Google Inc. in June for a price north of $70 million. Invite Media, backed by First Round Capital, Comcast Interactive Capital and angels, helps ad buyers more efficiently purchase from the numerous and increasingly more real-time advertising exchanges.

"Penn produces these people that are tech and business savvy," (angel investor Chris) Dixon said. "I would love to say I mentored (Abraham and Turner), but they're just great."

Original source: Wall Street Journal
Read the full story here.

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