FOR IMMEDIATE RELEASE
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Coderloop Acquired By Gild
San Francisco, CA – September 7, 2011 – Motu Novu's client Coderloop is acquired by Gild, a Silicon Valley upstart company.
Gild, a Silicon Valley upstart company, has acquired Coderloop, one of Motu Novu’s fiduciary clients. Coderloop was established by two Italian entrepreneurs, Federico Feroldi and Luca Bonmassar, and developed a fully automated code evaluation and scoring platform which greatly simplifies the assessment of the coding skills of potential hires using coding puzzles. Coderloop was incorporated in January, launched its service, and completed its sale to Gild in August.
The acquisition was announced in an interview of Gild's CEO Sheeroy Desai published today by the Silicon Valley Mercury News. The details of the exit round were not disclosed, but both Feroldi and Bonmassar will join Gild’s staff and may soon relocate to the Valley.
"Coderloop is a true entrepreneurial success story” says Filippo Beretta, partner of Motu Novu and fiduciary advisor to Coderloop. “The founders had the a brilliantly simple and useful idea, believed in their vision and in themselves, and executed very professionally at every step” he continues. "Federico and Luca proved, once again, that the American dream is far from dead … provided there are dreamers, that is."
Motu Novu assisted Coderloop from its incorporation in all fiduciary matters and was the sell-side advisor in the exit round transaction. Federico Feroldi warrants that "Motu Novu has been priceless for us, since the beginning of our adventure: they gave us support from the incorporation throughout the long and complex acquisition process.” He adds that Motu Novu is "simply the best support an entrepreneur can have to bring a tech business to the success in the USA." Luca Bonmassar agrees: “Motu Novu was an irrepleaceable asset, and they will definitively aboard my next startup.”
About Motu Novu
Motu Novu is an international federation of entrepreneurs, executives, strategists, and marketers. Motu Novu serves dynamic, ambitious, and innovative companies, institutions, and entrepreneurs who wish to ensure the success of their initiatives, products, and services. Its people are visionary, independent, contrarian, and pragmatic. Motu Novu is a privately held company with presence in the USA, Europe, and Asia. To learn more about it, please visit: www.motunovu.com.