The First American Corporation acquires the noncontrolling ownership of First American CoreLogic

March 31, 2010 — Fusion DigiNet

The Fusion Team have completed over 70 digital and media transactions for its private, corporate and private equity clients. For more information contact pkelly@fusioncorp.co.uk or visit our website


ACQUISITION 
FDN Database Reference:  F231109-373

This is an update of an original article posted on March 16, 2010 – FDN Database Reference:  F231109-356

The First American Corporation (NYSE: FAF) has acquired the noncontrolling ownership of First American CoreLogic.

The First American Corporation previously held an 82 percent ownership in the company.  First American CoreLogic is a key component of the company’s Information Solutions Group, which will be separated from the company’s Financial Services Group.

Total consideration for the transaction is $144 million. Fifty percent of this amount, $72 million, was paid in cash at closing on March 29, 2010.  The remaining 50 percent will be funded at a future date with equity valued at $72 million in The First American Corporation’s Information Solutions Group when it has become a standalone public company.

“The closing of the transaction to acquire the minority ownership interest in First American CoreLogic is a significant milestone in streamlining the ownership structure and financial flexibility of the Information Solutions Group as we prepare for our June 1, 2010, launch as an independent publicly traded company,” said Anand Nallathambi, CEO of the Information Solutions Group.

Acquirer:  The First American Corporation
ACQ Web:  http://www.firstam.com 
Location:  USA, Santa Ana, CA
Region:  North America
Description:  A FORTUNE 500® company that traces its history to 1889. With total revenues of approximately $6.0 billion in 2009, it is America’s largest provider of business information. The  company operates within five primary business segments, Title Insurance and Services, Specialty Insurance, Information and Outsourcing Solutions, Data and Analytic Solutions, and Risk Mitigation and Business Solutions.
Category:  Property. Market Data
Contact 1:  Parker S. Kennedy, Chairman and Chief Executive Officer
Contact 2:  Dennis J. Gilmore, Executive Vice President, Chief Executive Officer of First American’s Financial Services Company
Contact 3:  Anand  Nallathambi, Executive Vice President, President, Chief Operating Officer of First American’s Information Solutions Company
Contact 4: George Livermore, President, Data and Analytic Solutions Segment
Contact 5:  Anthony “Buddy” Piszel, Chief Financial Officer and Treasurer 
 
Vendor:  First American CoreLogic
Vendor Web:  http://www.facorelogic.com  
Description:  U.S. provider of real estate, property, ownership, fraud, mortgage, and mortgage securities data—and advanced analytics using this data—for the assessment of real estate sales, collateral valuation, home price trends, mortgage originations, mortgage- and asset-based securities pricing, foreclosures, delinquencies and asset dispositions.
Category: Property
Contact:  Steve Schroeder, former CEO of CoreLogic and senior vice president of First American CoreLogic.
 
Links: 

Posted in Content Media, Market Data & Information, Publishers, ~North America. Leave a Comment »

Yellow Pages Group to Acquire Canpages

March 30, 2010 — Fusion DigiNet

The Fusion Team have completed over 70 digital and media transactions for its private, corporate and private equity clients. For more information contact pkelly@fusioncorp.co.uk or visit our website
 
 
ACQUISITION 
FDN Database Reference:  F231109-369
 
Yellow Media Inc. (TSX: YLO.UN) (“YPG”) has reached a definitive agreement to acquire Canadian Phone Directories Holdings Inc. (“Canpages”) from an investor group led by private equity firm HM Capital Partners for a purchase price consideration of approximately $225M. Canpages is a local search and directories publisher in Canada.
 
The purchase price consideration of $225M is subject to working capital and other adjustments. It will be comprised of $75M payable in cash at closing to settle third party debt obligations and the issuance of $150M of Mandatory Exchangeable Promissory Notes (“Exchangeable Notes”) of Yellow Media Inc. The Exchangeable Notes will rank subordinate to the senior debt of Yellow Media Inc. and bear interest at a fixed initial rate of 5%, payable quarterly in cash, subject to step up provisions over time.
 
Starting in the first quarter of 2011, the Exchangeable Notes will be exchangeable into common shares of Yellow Media Inc., the surviving entity following the conversion to a traditional corporate structure. Each quarter, HM Capital Partners will have the right to exchange $37.5M of the Exchangeable Notes, representing 25% of the principal amount. At any time following closing and until December 31, 2014, YPG may redeem all or a portion of the Exchangeable Notes for cash together with accrued and unpaid interest. The Exchangeable Notes will have a final maturity of December 31, 2014. Any remaining Exchangeable Notes will be automatically exchanged into common shares of Yellow Media Inc. on December 31, 2014.

Acquirer:  Yellow Pages Group
ACQ Web:  http://www.ypg.com
Other Web Links: YellowPages.ca, Canada411.ca, Auto Trader, Home Trader and LesPAC.com
Location:  Canada, Montreal, Quebec
Region:  North America
Description:  Yellow Pages Group publishes more than 340 Yellow Pages and residential print directories in Canada. YPG also owns and operates Canada’s most visited online directories – YellowPages.ca and Canada411.ca, along with CanadaPlus.ca, a network of seven local city sites. Yellow Pages Group is indirectly held by Yellow Pages Income Fund (TSX:YLO.UN).
Category:  Directory, Search
Contact 1:  Marc P. Tellier, President and Chief Executive Officer
Contact 2:   Christian M. Paupe, Executive Vice President – Corporate Services and Chief Financial Officer
Contact 3:  Stephane Marceau, Chief Marketing Officer  
 
Vendor:  Investor group led by private equity firm HM Capital Partners
Business Sold: Canadian Phone Directories Holdings Inc. (“Canpages”)
Website:  http://corporate.canpages.ca
Location:  Canada, Vancouver
Region:  North America
Descriptions:  

  • Canpages – Canpages publishes 84 directories for a total circulation of approximately 8 million copies. The company’s website, Canpages.ca, attracts more than 3.5 million unique visitors each month. Canpages generates annualized revenues of $110M with an online contribution of approximately 23%. The Company employs about 700 people.
  • HM Capital Partners– Based in Dallas, HM Capital Partners LLC has completed over 100 transactions in the media space, the Firm has owned approximately 500 radio stations, 30 television stations, 600 directories and cable television systems serving more than 2.5 million subscribers.
    Category: Directory, Search

Contact 1:  Peter Brodsky, a Partner at HM Capital Partners
Contact 2:  Oliver Vincent, Chief Executive Officer, Canpages

Links: 

Advisers: Scotia Capital and TD Securities acted as financial advisors to YPG for the proposed transaction. Signal Hill acted as advisor to Canpages.

Related Fusion DigiNet articles

Posted in Content Media, Internet Media, Publishers, ~North America. Leave a Comment »

BMG Rights Management to buy Cherry Lane Music Publishing

March 26, 2010 — Fusion DigiNet

The Fusion Team have completed over 70 digital and media transactions for its private, corporate and private equity clients. For more information contact pkelly@fusioncorp.co.uk or visit our website

 

AQUISITION NEWS

According to the FT, BMG Rights Management is negotiating to buy Cherry Lane Music Publishing. The deal is reportedly worth $85 to $100 million.

About BMG Rights Management

BMG Rights Management (Berlin) is a music rights management company and a joint venture between the international media company Bertelsmann and the global private equity firm KKR.

Contacts: Hartwig Masuch, Chief Executive Officer: Laurent Hubert, Chief Operating Officer – North America:   John Dobinson, Chief Operating Officer Europe. Management team

About Cherry Lane Music Publishing

Founded in 1960 by producer, arranger and orchestrator Milton Okun, Cherry Lane Music Publishing are independent music publishers. Headquartered in New York City with a staff of 70. The Cherry Lane roster of songwriters and composers includes The Black Eyed Peas, Will.i.am, John Legend, Quincy Jones,  John Denver and Elvis Presley.

Counts: Milton T. Okun, Founder: Peter W. Primont, Chief Executive Officer: Dan Lieblein,  Chief Financial Officer Management team

Posted in Content Media, Publishers, ~Europe, ~North America. Leave a Comment »

Alexander Lebedev’s Independent Print Limited buys the Independent newspaper for £1

March 25, 2010 — Fusion DigiNet

The Fusion Team have completed over 70 digital and media transactions for its private, corporate and private equity clients. For more information contact pkelly@fusioncorp.co.uk or visit our website
 
 
ACQUISITION 
FDN Database Reference:  F231109-365
  
Independent News & Media PLC (INM) has sold The Independent and The Independent on Sunday to Independent Print Limited (IPL), a company controlled by the family of Alexander Lebedev. Lebedev is the Russian billionaire and former KGB agent who bought the London Evening Standard last year.

IPL will acquire all rights to The Independent, The Independent on Sunday and the related website, www.independent.co.uk. Existing Independent and Independent on Sunday staff will transfer to IPL, who will continue to operate from the current premises in Kensington, London. As a result of this disposal, Ivan Fallon, chief executive of Independent News & Media UK has retired from the Group.
 
Aprox. Value:  The consideration payable by IPL is £1. As part of the transaction, INM will pay IPL £9.25m over the next ten months for use within the Titles, in exchange for IPL assuming all future trading liabilities and obligations. The disposal is subject to certain conditions, including Irish Competition approval. The value of the assets being disposed of was nil at 31 December 2009 and the operating loss (i.e. before exceptionals, interest and tax) for the 12 months ended 31 December 2009 was Stg£12.4 million.
  
Vendor:  Independent News & Media PLC
Vendor Web:  http://www.inmplc.com 
Location:  Ireland, Dublin/UK, London
Region:  Europe
Description: A leading international newspaper and communications group, with its main interests in Australia, India, Ireland, New Zealand, South Africa and the United Kingdom.

The Group publishes over 200 newspaper and magazine titles, delivering a combined weekly circulation of over 32 million copies, with a weekly audience of over 100 million consumers and includes the world’s largest read newspaper, Dainik Jagran, in India. The Group has established a strong and growing online presence, with over 100 editorial, classified and transactional sites.

INM is the largest radio operator – over 130 stations and an audience of almost six million people – and outdoor advertising operator in Australasia and also has leading outdoor advertising operations in Hong Kong, India, Indonesia and across Africa.

 The Group manages gross assets of €2.2 billion, revenue of €1.4 billion and employs approximately 8,700 people worldwide.

Category: Newspaper, Media
Contact 1:  Gavin O’Reilly, Group Chief Executive Officer
Contact 2:  Vincent Crowley, Chief Operating Officer
Contact 3:  Dónal Buggy, Chief Financial Officer
 
Link: Press Release

Related articles: Independent News & Media’s 49% of Verivox sold to Oakley Capital Private Equity for €18.3M Posted 7 December 2010

Posted in Content Media, Publishers, ~Europe. Leave a Comment »

Good news for UK “wealth creators and innovators”- entrepreneurs’ relief for Capital Gains Tax doubled

March 24, 2010 — Fusion DigiNet

 

 

United Kingdom – Chancellor of the Exchequer’s Budget statement

Alasdair Darling, Chanceller of the Exchequer for the UK Governement has announced an extension of Entrepreneurs’ Relief from the first £1 million to the first £2 million of gains made over a lifetime.

Entrepreneurs’ Relief supports business owners and those investing in businesses with growth potential by providing an effective 10 per cent Capital Gains Tax rate on qualifying disposals.

This change will take effect from 6 April 2010.

The Chancellor also announced that the normal rate of capital gains tax (CGT) remains unchanged at 18 per cent.

Direct quote from the Budget statement

“I am also going to make it more attractive for wealth-creators and innovators to set-up their own businesses. To do this, I am doubling entrepreneurs’ relief for Capital Gains Tax. At the moment, the first million pounds of lifetime gains are taxed at a lower rate of 10 per cent, rather than the main rate of 18 per cent.

This threshold will now increase to £2m, enabling entrepreneurs to benefit more from their effort and investment.

And I can also confirm today that I am not increasing the main rate of Capital Gains Tax.”

Link: HM Treasury Budget website

Posted in B2B Services, Broadcasting, Conference/Exhibitions/Events, Content Media, e-Commerce, Energy & Environmental Services, Games, Internet Media, Market Data & Information, Publishers, ~Europe. Leave a Comment »

Morningstar to acquire statistical ratings organisation Realpoint

March 19, 2010 — Fusion DigiNet

The Fusion Team have completed over 70 digital and media transactions for its private, corporate and private equity clients. For more information contact pkelly@fusioncorp.co.uk or visit our website
 
 
ACQUISITION 
FDN Database Reference:  F231109-361
 
Morningstar, Inc. a leading provider of independent investment research, has entered into a definitive agreement to acquire Realpoint, LLC, a Statistical Ratings Organisation (NRSRO) that specializes in structured finance. Realpoint had revenue of approximately $12 million in 2009. Morningstar expects to complete the transaction in the next few months.

Once the acquisition is completed, Realpoint will become a business unit of Morningstar, reporting to Catherine Odelbo, Morningstar‘s president of equity research. Over time, the company will be rebranded under Morningstar. Dobilas will continue to run the business, and the company will retain its offices in Horsham, Pa.
 
Aprox. Value:  The purchase price is $52 million, subject to post-closing adjustments, and includes approximately $42 million in cash and $10 million in restricted stock.
 
Acquirer:  Morningstar

Location:  USA, Chicago, IL
Region:  North America
Description:  Provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of Internet, software, and print-based products and services for individuals, financial advisors, and institutions. Morningstar provides data on approximately 350,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 4 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. The company has operations in 20 countries and minority ownership positions in companies based in two other countries.
Category:  Finance, Publishing
Contact 1:  Joe Mansueto, chairman and chief executive officer
Contact 2:  Catherine Odelbo, Morningstar’s president of equity reseach
  
 
Vendor:  Realpoint, LLC
Vendor Web:  https://www.realpoint.com 
Location:  USA, Horsham, PA
Region:  North America
Description:  Realpoint offers securities ratings, research, surveillance services, and data to help institutional investors identify credit risk in commercial mortgage-backed securities. More than 225 institutional investment firms subscribe to Realpoint‘s ratings and analytics, including the majority of money managers who invest in commercial mortgage-backed securities.
Category: Ratings, Research, Finance
Contact:  Robert Dobilas, chief executive officer
 
Link: Press Release

Related article

Posted in Content Media, Market Data & Information, Publishers, ~North America. Leave a Comment »

Sandow Media acquires Interior Design and Furniture Today from Reed Business Information-US

March 19, 2010 — Fusion DigiNet

The Fusion Team have completed over 70 digital and media transactions for its private, corporate and private equity clients. For more information contact pkelly@fusioncorp.co.uk or visit our website
 
 
ACQUISITION 
FDN Database Reference:  F231109-360
 
Reed Business Information – US has made another divestiture. This is the third RBI-US divestiture we have reported in the last two months.

Sandow Media has acquired several print and online brands serving the commercial/residential design and home furnishings and accessories industries. Included in the purchase from Reed Business Information is the iconic Interior Design magazine and the entire Furniture Today group of publications, including Furniture Today, Gifts & Decorative Accessories, Home Textiles Today, Casual Living, Home Accents Today, Kids Today and Playthings.

Sandow Media will hire more than 100 employees with this transaction and substantially expand its current New York City operations. Reed Business Information’s Greensboro, North Carolina, facility will also become part of Sandow Media.

Aprox. Value:  Undisclosed

Previously reported on Fusion DigiNet

Acquirer:  Sandow Media
ACQ Web:  http://www.sandowmedia.com 
Location:  USA, Boca Raton, FL
Region:  North America
Description:  “Founded by Adam I. Sandow in 2002, Sandow Media‘s flagship brands include the beauty publication NewBeauty; Worth, the business and finance magazine for the ultra-affluent; Watch Journal; and Luxe Interiors + Design, the nation’s largest network of luxury home and design magazines. With over 285 employees nationwide, Sandow Media produces over 200 publications annually. Veronis Suhler Stevenson (VSS) is an investor in Sandow Media.
Category:  Magazine publisher
Contact 1:  Adam I. Sandow, chairman and CEO
Contact 2:  Mark Strauss, publisher and vice president
Contact 3:  Kevin Castellani, vice president and publishing director  
 
Vendor:  Reed Business Information – US
Vendor Web:  http://www.reedbusiness.com/us.html
Location:  USA, New York, NY
Region:  North America
Description:  Business-to-business information provider, with more than 80 market-leading publications and Websites, as well as a range of services
Category: Media Owner, Publisher
Contact 1:  John Poulin, Chief executive Officer

Adviser: Reed Business Information-US and its parent company, Reed Elsevier, were represented by The Jordan, Edmiston Group, Inc., a New York City-based investment bank that specializes in media, information, marketing services and related technologies.

Link: Company Announcement

Posted in Content Media, Publishers, ~North America. Leave a Comment »

The First American Corporation announces intent to acquire minority ownership of First American CoreLogic

March 16, 2010 — Fusion DigiNet

The Fusion Team have completed over 70 digital and media transactions for its private, corporate and private equity clients. For more information contact pkelly@fusioncorp.co.uk or visit our website
 
 
ACQUISITION 
FDN Database Reference:  F231109-356
 
Acquirer:  The First American Corporation
ACQ Web:  http://www.firstam.com 
Location:  USA, Santa Ana, CA
Region:  North America
Description:  A FORTUNE 500® company that traces its history to 1889. With total revenues of approximately $6.0 billion in 2009, it is America’s largest provider of business information. The  company operates within five primary business segments, Title Insurance and Services, Specialty Insurance, Information and Outsourcing Solutions, Data and Analytic Solutions, and Risk Mitigation and Business Solutions.
Category:  Property. Market Data
Contact 1:  Parker S. Kennedy, Chairman and Chief Executive Officer
Contact 2:  Dennis J. Gilmore, Executive Vice President, Chief Executive Officer of First American’s Financial Services Company
Contact 3:  Anand  Nallathambi, Executive Vice President, President, Chief Operating Officer of First American’s Information Solutions Company
Contact 4: George Livermore, President, Data and Analytic Solutions Segment
Contact 5:  Anthony “Buddy” Piszel, Chief Financial Officer and Treasurer 
 
Vendor:  First American CoreLogic
Vendor Web:  http://www.facorelogic.com  
Description:  U.S. provider of real estate, property, ownership, fraud, mortgage, and mortgage securities data—and advanced analytics using this data—for the assessment of real estate sales, collateral valuation, home price trends, mortgage originations, mortgage- and asset-based securities pricing, foreclosures, delinquencies and asset dispositions.
Category: Property
Contact:  Steve Schroeder, former CEO of CoreLogic and senior vice president of First American CoreLogic.
 
Aprox. Value:  Undisclosed
 
Details:  The First American Corporation (NYSE: FAF), America’s largest provider of business information, today announced that it has executed a letter of intent to acquire the minority ownership of First American CoreLogic. 

The First American Corporation previously held an 82 percent ownership in the company.  First American CoreLogic is a key component of the company’s Information Solutions Group, which will be separated from the company’s Financial Services Group upon the completion of the previously announced spin-off, targeted for June 1, 2010.
 
Link: Press Release

Posted in Content Media, Market Data & Information, Publishers, ~North America. Leave a Comment »

Tarsus Increases Exposure to US Growth Opportunities through acquisition of remaining 20% Minority Interest in Medical Conferences International

March 14, 2010 — Fusion DigiNet

The Fusion Team have completed over 70 digital and media transactions for its private, corporate and private equity clients. For more information contact pkelly@fusioncorp.co.uk or visit our website
 
 
ACQUISITION 
FDN Database Reference:  F231109-355
 
Acquirer:  Tarsus Group plc
ACQ Web:  http://www.tarsus-group.com
Location:  UK, London
Region:  Europe
Description:  Tarsus Group is an international media company with a portfolio of exhibitions, conferences, publications and online media that span across the Americas, Europe, Asia and the Middle East.
Category:  B2B Media
Contact 1:  Douglas Emslie, Group Managing Director
Contact 2:  Ashley Milton, Group Finance Director
 
Vendor: Dr Robert Goldman is the Chairman of the American Academy of Anti-Ageing Medicine (“”A4M””) and (with Dr Ronald Klatz) the Founding President of the National Academy of Sports Medicine, USA.  Dr Ronald Klatz is the President of A4M.
Region: North America
Description:  MCI, founded by the Vendors in 2003, is an organiser of medical sector events in the fast growing anti-ageing and preventative medicine market. MCI organises three key sector events in the USA annually: in Orlando (April), Chicago (October) and Las Vegas (December). 
Category: Conference
 
Terms:  The consideration of US$10.75 million (£6.6 million) will be satisfied by the issue to the Vendors, on or before 31 August 2010, of 5,820,878 Tarsus ordinary shares of 5 pence each (the “”Consideration Shares””), representing an issue price of 114 pence per Consideration Share, equating to 7.8% of the overall enlarged Tarsus Group issued share capital.

The Vendors have agreed a lock-in such that they will not sell any of the Consideration Shares unless and until either Neville Buch or Douglas Emslie sell any of their own ordinary shares in Tarsus, in which case the Vendors will be entitled to sell the same percentage of their Consideration Shares as the sale (by Mr Buch or Mr Emslie as the case may be) represents to their combined shareholdings in Tarsus. The Vendors are also permitted to dispose of their Consideration Shares in certain other limited circumstances, including if there is a change of control involving a change in the existing management of Tarsus.
 
Details:  Tarsus Group, the international business-to-business media group,  has entered into a conditional agreement with Dr Robert Goldman and Dr Ronald Klatz  to acquire from them the remaining 20% interest in MCI not already owned by Tarsus Group for a consideration of US$ 10.75 million (£6.6 million). MCI, founded by the Vendors in 2003, is an organiser of medical sector events in the fast growing anti-ageing and preventative medicine market. MCI organises three key sector events in the USA annually: in Orlando (April), Chicago (October) and Las Vegas (December). 

Following the MCI Acquisition, the Vendors will both remain with the business and their current consulting agreements with MCI will be revised and extended by 10 years to 2026. The terms of the deferred consideration/ revenue incentive payable under the terms of the 2006 MCII Acquisition agreement have been extended, but subject to more demanding financial thresholds, and aggregate deferred consideration payments remain subject to the existing cap of $10.0 million.
 
Link: The London Stock Exchange’s Regulatory News Service (RNS)  

Background to the MCI Acquisition

On 16 November 2006 Tarsus Group announced that it had entered into an agreement with the Vendors to acquire from them 80 per cent. of the issued share capital of Medical Conferences International Inc (“”MCII””) for a total consideration of up to $46.0 million.  This comprised $36.0 million payable in cash upon completion, up to $10.0 million payable as deferred consideration and $2.9 million consideration for the net assets of MCII.

Following the completion of this transaction the Vendors retained ownership of 20% of MCII, (now “”MCI””).

 As at 31 December 2009, the gross assets of MCI were $19.4 million, and MCI generated profit before tax of $6.3 million for the year ended 31 December 2009.

Posted in Conference/Exhibitions/Events, Content Media, Publishers, ~Europe, ~North America. Leave a Comment »

FUND RAISING: WEEKLY ROUND-UP week ending 14th March 2010

March 14, 2010 — Fusion DigiNet

 

 

The best way to receive Fusion DigiNet information is to subscribe to the free email service available from the home page.

Last Week’s Fund Raisings

1. Autoquake has raised £6 million

2. Chomp.com has raised £2 million

  • Details: iPhone apps review site Chomp.com has raised £2 million in funding. Launched just 8 weeks ago, Chomp has 300,000 users and 1.5 million reviews.
  • Investors:  BlueRun Ventures, SV Angel partners Ron Conway and David Lee and former SV Angel, now CEO of DailyBooth, Brian Pokorny.
  • Location: USA, San Francisco, CA
  • Category: Apps, Reviews

3. DataXu Secures $11 Million in Series B Funding

  • Details: DataXu, provider of the leading real-time bidding platform for online display advertisers, today announced it has closed $11 million in Series B funding. The proceeds will be used to fund new product development, sales and marketing, and international expansion. John Jarve, Managing Director of Menlo Ventures, will join DataXu‘s board of directors.
  • Investors:  Led by Menlo Ventures. Atlas Venture and Flybridge Capital Partners, who provided DataXu‘s Series A funding in April 2009, also participated in the round.
  • Contacts: Mike Baker, President and CEO of DataXu: John Jarve, Managing Director of Menlo Ventures.
  • Location: USA, Boston, MA
  • Category: Advertising
  • Link: Press Release

4. DoubleVerify Raises $10 Million in Series B Funding

  • Details : Online advertising verification company DoubleVerify has closed a $10 million series B financing round
  • Investors:  Led by Institutional Venture Partners (IVP). The round included participation from existing DoubleVerify investors. DoubleVerify had previously closed a $3.5 million Series A financing in May 2009 led by Blumberg Capital, with participation from First Round Capital, Genacast Ventures and private investors.
  • Contacts: Oren Netzer, Co-Founder and CEO of DoubleVerify: David Bell, a DoubleVerify board member: Dennis Phelps, General Partner of IVP: David Blumberg, Managing Partner, Blumberg Capital
  • Location: USA, New York, NY
  • Category: Advertising
  • Link: Company Announcement

5. FirstRain raises $7.3 million

  • Details: FirstRain, a business that offers a research engine that intelligently filters information and trends from the web about companies, the markets they operate in, and the business trends impacting their market, has raised $7,296,727 of a $8,815,242 equity round.
  • Contact: Penny Herscher, President and CEO
  • Location: USA, San Mateo, CA
  • Category: Research, Search
  • Link: Regulatory Filing

6. LivingSocial Raises $25 Million

  • Details: LivingSocial, the social commerce business behind LivingSocial Deals and Facebook applications Visual Bookshelf and Pick Your Five, has completed a $25 million Series B round of venture funding. With this round of funding, LivingSocial Deals is launching in four additional cities: Chicago, Denver, Raleigh Durham and San Diego, making the program live in 13 markets across the USA
  • Investors:  Led by U.S. Venture Partners, with Grotech Ventures and Steve Case’s Revolution, LLC participating
  • Contact: Tim O’Shaughnessy, CEO of LivingSocial
  • Location: USA, Washington D.C.
  • Category: Ecommerce
  • Link: Company announcement

Competitor news on Fusion DigiNet: Groupon has raised a Series B financing round of $30 million, 2nd December 2009.

7. Plancast has raised $800,000

  • Details : Worldly Developments, the consumer internet startup behind Plancast has raised $800,000. The founders are Mark Hendrickson (who previously worked at TechCrunch) and Jay Marcyes.
  • Investors:  SoftTechVC, True Ventures, Founders Fund Angel, and Zelkova Ventures. As well as individual angels, Aydin Senkut, Saul Klein, David Cohen, Joshua Schachter, Dave McClure, Dan Martell, Ron Bouganim, and Paige Craig.
  • Location: USA, San Francisco, CA
  • Category: Social Network
  • Link: TechCrunch

8. SeaWell Networks Secures $7 Million in Series A Funding

9. Todacell secures additional $1 million funding from existing investor

  • Details: Todacell, the mobile display ad network for optimizing publisher ad performance, has raised an additional $1 million round of funding. Monies from this round of funding have been earmarked for sales and marketing, with five new sales offices opening in New York, Los Angeles, Toronto, London and Bombay.
  • Investors:  Raised from existing investor AfterDox. Previously Todacell has secured $2 million from AfterDox and others, including $350,000 seed funding from the Fore Group.
  • Location: Israel, Tel Aviv
  • Category: Advertising, Mobile
  • Link: Company Announcement

10. TripIt receives $7M third round of funding

  • Details: TripIt, the trip management company, has closed a third round of funding, receiving $7 million from a group of investors. These funds will be used to accelerate TripIt‘s cloud-based web service to reach more business travellers, as well as new services for mobile and enterprise collaboration at global companies.
  • Investors:  Led by Azure Capital Partners and O’Reilly AlphaTech Ventures. TripIt has now received $13.1M in total investment, including $1M when it launched in 2007, $5.1M in 2008, and $7M in this third round of funding, which was oversubscribed by interested investors.
  • Location: USA, San Francisco, CA
  • Category: Travel
  • Link: Press Release

Fund Raising News

  1. Berlin: Team Europe Ventures starts €6 million investment fund for Internet start-ups, Reported on Fusion DigiNet on 10th March 2010.
  2. Battery Ventures Closes $750M Fund
  • Details: Battery Ventures, a multi-stage investment firm focused on technology and innovation worldwide, today announced that is has closed its ninth fund, BV IX, at its $750M target. BV IX Will focus on Technology-Related Investments from Seed to Growth Equity and Buyouts. The firm invests worldwide, with the majority of its investments in North America, Israel and India.
  • Location: Battery Ventures invests out of offices in Waltham, MA, Menlo Park, CA and Herzliya, Israel. 
  • Link: Press Release
Posted in Content Media, e-Commerce, Internet Media, Publishers, ~Europe, ~Middle East & Africa, ~North America. Leave a Comment »
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