Palm announced it has received more funding and its stock has risen 13%. Equity firm Elevation Partners has agreed to give Palm another $100 million. Elevation Partners purchased 25% of Palm in September 2007 but they will up their stake in the company. Are they crazy? They don't think so:
"We believe that Palm is in a position to transform the cell phone industry, and we are pleased to have the opportunity to make this additional investment in the company. Palm has an industry-leading team and an exciting, differentiated product roadmap. We are proud to be associated with the company and look forward to great things from Palm in 2009 and beyond."
"We believe that Palm is in a position to transform the cell phone industry, and we are pleased to have the opportunity to make this additional investment in the company. Palm has an industry-leading team and an exciting, differentiated product roadmap. We are proud to be associated with the company and look forward to great things from Palm in 2009 and beyond."