Canada's growing second generation of tech-entrepreneurs. National Post article on Airborne Mobile @andynulman @garnerbornstein disclosure: iNovia is an investor in Airborne and I’m a serial-re-investor in Garner & Andy!
National Post extract below. Full article here: http://bit.ly/448MN
Graham Hughes/National Post CEO of Airborne Mobile, Garner Bornstein, pictured in Airborne offices, Saint Laurent Boulevard, Montreal, Thursday, May 14, 2009.
Airborne a prime example of the accelerated boom-and-bust nature of the high-tech world
Karen Mazurkewich, Financial Post Published: Friday, May 15, 2009
Garner Bornstein has been involved in risky high-tech ventures in the past. But his latest project, Airborne Mobile, is different. That's because it's not a start-up; it's a make-over...
In 2005, Mr. Bornstein made a fortune from selling his high-tech firm, Airborne Entertainment, for $110-million to Cybird Co. Ltd. of Japan... But the company's take-off under its Japanese owners was a bust...
Chris Arsenault, who once managed direct investments for Charles Sirois' Telesystem Ltd., and arranged two rounds of financing for the original firm, is backing the reincarnated company with a $2-million round. "I made a lot of money with them and liked and respected the entrepreneurs," says the investor. "So, when they said they were restarting something they already owned, it made it even more interesting; it was like creating a start-up on steroids," he adds.
Airborne is a prime example of the accelerated boom-and-bust nature of the high-tech world. But it is also an example of how Quebec's second-generation tech industry is quickly growing up.
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Complete article in Saturday’s May 16th 2009 National Post – Financial post
http://www.financialpost.com/news-sectors/story.html?id=1600728
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