A year ago, Corephotonics sued Apple for alleged infringement on its dual camera zoom patents. Half a year ago, Corephotonics filed a second lawsuit.
Corephotonics has licensed its dual camera technology to Oppo and Xiaomi.
Corephotonics CEO David Mendlovic said in response to rumors “Samsung is an investor in our company. They have expressed interest by investing in us. There is nothing concrete [about an acquisition] at this stage. We will be happy to inform the public when we know anything.”
I guess the fact that their lawsuit against Apple was stayed because three of their patents are under inter partes review (IPR) and for the remaining two a petition for IPR has been filed dropped the price tag significantly and made them more acceptive to an acquisition. A 3x upside after seven years (17% CAGR) is not much to write home about.
ReplyDeleteNot a classic 10x VC homerun but better than a sharp stick in the eye. I would be happy.
DeleteUnless there would have been serious down rounds, it looks like it is a 10x return for the initial investors? Return is inevitably lower for later investment rounds. I think it's a pretty decent return in 7 years.
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