The Native has invested about $9m in online auction operator Paddle8 and has an option to increase its stake from 15% to 51% if it chooses.
Marketing and e-commerce services provider The Native has paid CHF8.5m ($9.1m) for a 15% stake in US-based online auctioneer Paddle8, Fast Company has reported.
Paddle8 had raised $44m from Founder Collective, Mousse Partners, Skate Capital and various private investors when it merged with Germany-based Auctionata in mid-2016.
However, the merged company ended up filing for insolvency a few months later, after a withdrawal of expected financing left it unable to pay employees. Paddle8’s founders managed to break free and the…
