GERMANY – Earlybird sells remaining stake in Tipp24 AG
Earlybird sold its remaining shares in Tipp24 AG, an internet business listed on the Prime Standard in Frankfurt. Its flotation in October 2005 was 15x oversubscribed. Earlybird provided early-stage financing to Tipp24 in 1999 and led the second round of financing in 2000. Earlybird then sold 45% of its shareholding when the company floated. Following the IPO, Earlybird held about 20% in Tipp24. Overall, Tipp24 returned more than 20x the original Earlybird investment. Tipp24 is an Internet provider of Lotto, Oddset, and other government licensed gaming products.
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