Plano-based Choose Energy, a website that offers cost-comparison service tools for energy usage, has been bought by a South Carolina-based digital advertising company.
Fortune reported that Red Ventures of Fort Mill, South Carolina, paid less than $100 million for the Plano company.
Choose Energy received buyout interest earlier this year because of its position in the connected home sector. It then began the sale process, according to Fortune.
Choose Energy, which raised $25.7 million in venture funding from Kleiner Perkins Caufield & Byers, BlueScape Resources, NGEN Partners, and angel investors, was profitable with what Fortune called “double digit millions” of revenue. The company was founded in 2008 to simplify the consumer selection process for energy plans.
Fortune said that Choose Energy fits well within Red Ventures’ assortment of online marketplaces and single-brand websites.
Dallas Innovates, every day
R E A D N E X T
The hybrid event in August will take place in person at SMU and virtually. The seventh annual Dallas Startup Week powered by Capital One is Dallas-Fort Worth's largest event focused on driving entrepreneurial success, economic impact, and innovation in the region.
22-year-old ARKH CEO Landon Nickerson—who earned millions as a YouTube gamer—will now exclusively sell Litho's controllers under his ARKH brand, which has raised $5.7 million in funding to date.
Now in its third year, the program from Dallas Innovates and D CEO honors 78 disruptors and trailblazers driving a new vision for innovation in North Texas.
Dallas Innovates and D CEO celebrated 78 honorees and revealed the winners of our third-annual Innovation Awards at an event held at The Perot Museum of Nature and Science. Here's a full list of winners and finalists.
Dallas-based Hunt Perovskite Technologies, part of Hunt Consolidated Inc, is one of the 22 selected for a new program from the DOE dedicated to making perovskite photovoltaic devices commercially available. If validated, the tech could make solar cells more efficient at a lower cost—but first, the projects have to overcome the issue of it being too unstable to commercially use.