LOS ANGELES, July 16 /PRNewswire/ -- Bestofmedia Group, one of the world's leading online media publishing companies for technology, announces that Index Ventures, a leading venture capital firm, has invested $35 million (22.5 million euros) in the company.
LOS ANGELES, July 16 /PRNewswire/ — Bestofmedia Group, one of the world's leading online media publishing companies for technology, announces that Index Ventures, a leading venture capital firm, has invested $35 million (22.5 million euros) in the company.
With more than 25 million monthly unique visitors, Bestofmedia Group is currently ranked as one of the top-three global sites for high-tech news and information. Bestofmedia Group's online brands include Tom's Hardware (http://www.tomshardware.com), Tom's Guide (http://www.tomsguide.com), Tom's Games (http://www.tomsgames.com) and other leading online publications. Bestofmedia Group will use the investment to accelerate growth, build on its position as the leading independent online media site, and expand its technology-focused offerings.
"Our strategy is to augment the rapid organic growth from our existing operations in 12 countries with growth through acquisition," said Alfred Vericel, founder and CEO of Bestofmedia Group. "We have successfully acquired and integrated BuyCentral.com, Presence-PC.com, Infos-du-Net.com, JeuxVideoPC.com, TomsHardware.com, MaPetiteEntreprise.net and 3Labs. Unlike many French-based global internet companies that have sold their businesses to media conglomerates, we decided to remain an independent company."
"Index Ventures is a top-tier venture capital company with an impressive track-record of successful investments including Skype and many others," said Antoine Boulin, CEO of Bestofmedia LLC, the US subsidiary of Bestofmedia Group. "With the investment from Index Ventures, we can further accelerate growth in the US market to become the leading online publisher for all things related to high-tech, consumer electronics and gaming."
"Bestofmedia Group has a powerful combination of strong online brands, global infrastructure and a world-class management team," said Dom Vidal, Index Ventures Partner. "Very few online publishers have the capability that Bestofmedia Group has to successfully combine high-quality editorial with user-generated content. We believe that Bestofmedia Group is well-positioned to capitalize on the market opportunity and take advantage of the growth in this sector."
Online publishing is a compelling industry as demonstrated by the recent acquisition of CNET by CBS for $1.8 billion. Nearly 80% of the world's Internet users surf websites related to high-tech information at least once a month.
About Index Ventures (http://www.indexventures.com)
Index Ventures is a leading European venture capital firm active in technology venture investing since 1996. The firm is dedicated to helping top entrepreneurial teams in the Information Technology and Life Science sectors build their companies into market defining global leaders. The firm has offices in Geneva, London and Jersey and focuses on investments from seed through growth stage companies. Recent exits include Skype (the pioneering communications company acquired by eBay), MySQL (the world's most popular open source database recently acquired by Sun), Last.fm (the world's largest social music platform, recently acquired by CBS) and BioXell (BIOX, floated on the SWX in 2007).
About Bestofmedia Group (http://www.bestofmedia.com/us)
Bestofmedia Group is one of the top-three online media publishing companies for technology in the world with 25 million readers a month. It is the publisher of Tom's Hardware (http://www.tomshardware.com), Tom's Guide (http://www.tomsguide.com), Tom's Games (http://www.tomsgames.com) and other leading web publications. Bestofmedia Group provides real-time technology product reviews, news and information to millions of IT decision makers, business executives, consumers, corporate buyers, industry analysts, tech enthusiasts and purchasing influencers. Bestofmedia LLC is headquartered in Culver City, California and is owned by Bestofmedia Group.
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SOURCE Bestofmedia Group