Homepage.com Closes Big in Mezzanine Round
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Personalized Web page applications supplier Homepage.com announced today that it secured $48 million in a mezzanine financing round.
Led by parent company idealab!, the contributors to this round also included new investors Jump Investors and Robertson Stephens affiliates, as well as J.&W. Seligman , Moore Capital Management and idealab! Capital Management.
The company intends to use the funds to continue its growth. "This financing will fuel strategic growth and further increase Homepage.com's position as the leading ASP of personalized web page technology and services," said Tim Cahill, Homepage.com CEO. Adding that the company will also use the funds to expand aggressively in the global marketplace.
Cahill believes the amount of funding shows an enormous amount of confidence from its investors.
As its e-business clientele continues to expand, Homepage.com believes it has positioned itself to be in the front-running of private-label personal publishing solutions for e-businesses.
Claiming a major stake in the front-end customer-centric apps marketplace, Homepage.com is confident in its ability to deliver to customers and to investors.
A mezzanine financing round usually means the last round before an IPO, and CFO Janine Bushman made comments that hint towards an upcoming IPO.
"In the coming months, Homepage.com will work closely with investors to reinforce its leadership position in the industry. We will continue to provide our clients the ability to connect with their constituents through the combination of our personal page technology and the very best front-end communication tools."
Company clients include AOL's ICQ, ARTISTdirect.com, About.com, Discovery.com and PETsMART.com.