He really shouldn't have: Digeo, which has been suffering from lagging sales and recently had to lay off about half its staff, was just sold to cable-equipment provider Arris Group for a cool $20 million. Ouch.
Allen's other bungled investments, according to the Wall Street Journal include Metricom, Mercata, and Charter Communications:
Allen-backed startups like Metricom and Mercata were dot-com-era failures, while he lost big on his investment in Charter Communications, the cable company that filed for Chapter 11 bankruptcy protection earlier this year. Mr. Allen is Charter's chairman and biggest shareholder.
David Postman, a spokesman for Vulcan, Mr. Allen's Seattle-based investment firm, concedes many of Mr. Allen's bets haven't paid off. "There's no doubt there have been mixed results," Mr. Postman said. "That's part of what happens in the world of start-ups, particularly when you're dealing with cutting-edge technology, which is what Paul Allen does."
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