Elevation Partners Stand Strong With Palm | webOS Nation

Elevation Partners Stand Strong With Palm

by Jason Robitaille Sat, 20 Mar 2010 6:10 am EDT

Palm's stocks may have fallen, but that doesn't appear to have shaken Elevation Partners. On the contrary, they're hold strong and standing with Palm in the belief that Palm's webOS is the future of mobile computing.

Elevation Partners have a long history of investing with Palm. They currently control roughly 30% of the company and have invested a total $460 million invested in Palm. An Elevation Partners spokesman told Reuters,

"Jon and his team have built the best mobile operating system available today and they are now working through short-term execution challenges with Elevation's complete support."

The statement might not be overly surprising, but it is definitely a welcome note of support. The statement's wording of "short-term execution challenges" might seem optimistic, but recall that Elevation and Palm believe that webOS is a ten year strategy.