Crosslink Capital disclosed its recent insider purchase in Carbonite Inc (CARB) on November 18th. The Form 4 filing shows the firm bought 12,055 CARB shares at about $11.7 on November 16 and 17, and has 2 million shares in its position now, giving a 8.35% activist stake. Crosslink Capital initiated its CARB position during the third quarter, and reported 1.99 million shares at the end of September. CARB is now trading at $11.43, losing 7% year to date.
Based on the firm’s profile on Linkedin, Crosslink Capital is “a leading stage-independent venture capital and growth equity firm with over $1.8 billion in assets. Crosslink, which traces its roots back to 1989, was among the first and largest investment firms in the U.S. to integrate public and private growth/technology investing in three families of funds: venture capital funds, long/short hedge funds and a unique hybrid crossover fund. This strategy allows Crosslink to partner with its portfolio companies on a long-term basis. With more than 20 years behind it, Crosslink Capital has invested in over 100 private equity portfolio companies, at the early, mid, and late stages.”
Per Yahoo! Finance, Carbonite, Inc. “provides online backup solutions for consumers and small and medium sized businesses. Its backup solutions work in the background, automatically, and continuously uploading encrypted copies of its customers files to the servers, known as Carbonite Personal Cloud. The company allows its customers to browse and share their photos, videos, and documents using a Web browser or its free iPad, iPhone, BlackBerry, and Android apps. Carbonite, Inc. was founded in 2005 and is headquartered in Boston, Massachusetts.”