Adsmarket gets 17 million dollars funding
The deal was signed in early July and the closing is due later this month. Adsmarket will use $12 million of the proceeds to buy back shares from current shareholders, leaving $5 million for actual investment in the Tel Aviv-based start-up.
Viola Private Equity will own 21% of Adsmarket, at a company value of $80 million, before money. Chairman Ilan Shiloach, an Israeli advertiser, will own 29%, Drucker-Urzel and investor Nir Tarlovsky will each own 16%, Moyal will own 9%, and company employees will own 9%. Viola partners Osnat Ronen and Harel Beit-On will join Adsmarket's board of directors.
Adsmarket's search engine marketing and social network marketing operations are in a range of fields, including cellular content, games, aviation and tourism, and software. 120 of the company's 140 employees are in Israel.
Adsmarket expects $80 million revenue in 2010, 33% more than in 2009. The company originally operated in Europe, before expanding to North and South America
Trackback from your site.