SolarCity Gets $81 Million in New Funding
Isn’t solar supposed to be dead? SolarCity, Inc., a solar system design and installation service provider, has raised $81 million in equity financing. The deal was announced on Wednesday evening and was co-led by Silver Lake Kraftwerk and Valor Equity Partners,…
Isn’t solar supposed to be dead? SolarCity, Inc., a solar system design and installation service provider, has raised $81 million in equity financing. The deal was announced on Wednesday evening and was co-led by Silver Lake Kraftwerk and Valor Equity Partners, but the investor consortium also included Elon Musk, Nicholas J. Pritzker and Shea Ventures.
SolarCity will use the new funding to expand its salesforce, marketing and operations, technology development and potential acquisitions.
The release noted that this gives SolarCity the resources to explore new products and services and identify new geographies and potential acquisitions as it seeks to deliver better energy choices to more customers. Did they say “acquisitions” in there? Hmm…
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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
