UPDATE 4/18: Hans Gieskes clarified the H3 change in ownership today, explaining it amounted to a realignment of the shares of the company that solidifed his control. “I’ve taken back control,” Gieskes said, hastening to add that it was not a hostile matter.
There are no new owners; the firms that provided the venture capital are still invested in H3, and there’s no change in the business model.
In an email, Gieskes confirmed the reports that started circulating late last week. “We had some internal changes in ownership,” Gieskes wrote us. “Nothing glamorous.”
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H3 had been rumored late last year to be for sale before Gieskes told blogger Joel Cheesman at the end of January he was discussing a sale with “a number of parties.”
No details about the ownership change are available. Gieskes told us in the email he wasn’t ready to discuss it: “I’m not really in the position / inclined yet to make a public comment at this stage. It’s really no big deal; we’re a modest size company with interesting patents and slow but steady success and vindication.”
One of those successes Gieskes directed us to is a $15,000 referral reward for a VP position at Ning , Marc Andreessen’s social networking start-up.
Gieskes launched H3 in 2004.