Balderton dumps Sulake after documentary exposé
Balderton has dumped its stake in Finnish social networking company Sulake following a damning Channel 4 investigation into the firm.
The venture capital investor had held a 13.5% stake in Sulake, which runs the popular Habbo hotel website, but has exited after the company failed to promptly respond to allegations of improper policing of sexual content posted on its site. The investment in the group has been written down.
Balderton is reported to have said: "As soon as we realised child safety was being jeopardised, the partners took the unanimous decision to exit."
3i, which holds a 16% stake in Sulake, remains invested in the company.
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