Palm Gets Another $100 Million

by mazevedo | December 22, 2008 at 12:59 pm

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With such a crazy competition among the smatphone industry, it appears as though Palm is not giving up just yet. Elevation has just announced a further investment of another $100 Million to Palm, which has high hopes for their new operating system the Nova.

Roger McNamee, Bono and the rest of the Elevation Partners crew have invested another $100 million in Palm. This makes a total of $425 million so far for Elevation, despite shrinking sales and a $506 million loss for the company last quarter.

All hopes seem to be pinned on the debut of Palm's new operating system, Nova. Like so many other things in the gadget world, it'll be unveiled at January's Consumer Electronics Show. But in a world replete with Blackberries, Windows Mobile, iPhone and the Google phone, is there room for another platform?

Do you believe Palm really has what it takes to compete against the other handheld device giants or does this seem like a bogus investment?

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