Wells Fargo-backed Norwest Venture Partners exited the big data technology provider after investing $35m in 2010.
1010Data, the US-based big data company backed by Wells Fargo-affiliated venture capital firm Norwest Venture Partners, was acquired by media company Advance Publications for $500m yesterday.
Advance completed the acquisition through its subsidiary Advance/Newhouse. Norwest, which is entirely funded by Wells Fargo, invested $35m in 1010Data in 2010.
Founded in 2000, 1010Data has developed technology that enables companies to analyse, monetise and share big data on a cloud-based platform.
The acquisition is set to provide 1010Data with the necessary cash…
