April 3, 2012


Bono, "Worst Investor in America," Invests in Hot Internet Startup

George Pimentel
George Pimentel

Bono, an avid investor, just brought his U2 bandmate The Edge down the investment rabbit hole with him: according to Rolling Stone, they've both put money into hot internet startup Dropbox.

Dropbox announced their celebrity investors on Twitter yesterday, and posted a photo that shows Bono and The Edge hanging out with the company's founders, as well as the founders of iLike and other early investors in Dropbox.

This may signal bad news for Dropbox because Bono was named the worst investor in America in 2010 by online publication 24/7 Wall Street, which said that Bono's money went into "an unprecedented string of disastrous investments which even bad luck could not explain." They also said Bono's company Elevation Partners was "arguably the worst run institutional fund of any size in the United States."

On the other hand, Bono's investment in Facebook made hundreds of millions of dollars, so maybe Dropbox isn't in trouble after all.

Would you buy shares in Dropbox because of Bono's involvement? Let us know in the comments below!