Being A VC In The Nordics
Daniel Blomquist of Creandum, a Swedish early stage venture capital company, has posted an excellent post to their blog analysing the differences between the Nordic countries to other countries as well as analysing the differences within themselves. In essence, Daniel goes on to confirm what Will Cardwell said some time ago.
Creandum has gathered a lot of knowledge about the Nordic venture capital market over the last two years to understand the ecosystem better and thus be able to work in it better. They now share some of this knowledge with us. Their main findings from the report were:
Sulake Corporation Reports € 4.8M Profit
The Finnish corporation behind the overwhelmingly successful teen community site Habbo Hotel, Sulake, has reported a €4.8 million profit for the financial year 2008. The company also created record sales, up more than 20% in December, closing in at €50 million for the year 2008. Even though Sulake has made a nice profit, there is still plenty of downside to cover in the coming years to make up for all the loss it has accumulated over the years. This is the first year Sulake has reported a profit since its founding in 2000.
