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Intrade CEO Delaney Dies on Mount Everest

Intrade's founder and CEO, John Delaney, has died while attempting to climb Mt. Everest, according to a statement on the firm's website.

"We are sad to announce the death of our founder and CEO, John Delaney, who tragically passed away while attempting his lifelong ambition of climbing Mt. Everest," the statement said. "His wife and children, plus all of the Intrade family, mourn his passing but know also that John always strove for the summit—be it on Everest or with Intrade. It is our goal to to give his memory one of those wishes and will do all we can to ensure Intrade's continued success."

A story in London's Daily Mail said that Delaney died 50 meters before reaching the summit. His wife, Orla, had not been able to tell him that she gave birth to a girl last Wednesday.

Intrade is a prediction market company that was founded in 2001 and later acquired by Tradesports in 2003. The company allows investors to take positions on future events, and trading can involve real or imaginary money.