Chamath Palihapitiya: "Xtreme Labs Board, You Are Out, I'm Taking Over," Invest Majority Stake For $20M

BY: 

Dave Forde
September 26, 2012

You might recall us mentioningthe name Chamath Palihapitiya a few times on Profectio.com, he is a Canadian born guy who was one of the first employees of Facebook, and is also on the Executive Board of the NBA’s Golden State Warriors.  As a venture capitalist,  he  also invested in GoInstant, which has now been sold to Salesforce.com for $70 million.
Chamath Palihapitiya latest move, investing upwards of $20 million into Toronto-based Xtreme Labs, and in effect buying out Co-Founders Sundeep Madra and Amar Varma, both of which he has known since his school days.

Moving forward Xtreme Labs will continue to focus on development of mobile applications with existing and new clients.

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Dave Forde


Dave “The Connector” Forde has been involved in the marketing, public relations and technology industry across Canada for over 20 years in various sales and marketing roles, he launched The Connected One network of business sites which connects buyers to the right sellers. Profectio and PR In Canada covers news about the marketing and public relations industry each day helping professionals advance their career and businesses. He also serves as an advisor to a number of businesses across the country. Find Dave on LinkedIn and Twitter.


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