WhitePages is taking the unusual step of buying out its venture capital investors, paying $80 million to buy back shares from Technology Crossover Ventures and Providence Equity.
It’s unclear what valuation was placed on WhitePages, which was founded in 1997 by Alex Algard as he was completing a summer internship on Sand Hill Road in Silicon Valley. WhitePages is a people search directory and database with billions of people records, and Algard says they are trying to kill off the phone book.


Business Insider reports today that the 130-person company is on a revenue run rate of $60 million, with Algard saying that the venture investors wanted out of the deal and because of the cheap debt right now they were able to raise the money. John Cook is GeekWire's co-founder and editor, a veteran reporter and the longest-serving journalist on the Pacific Northwest tech startup beat. TCV and Providence invested in WhitePages in 2005, pumping $45 million into a company which had never taking venture capital during its first eight years.





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