Comparison shopping service DealTime.com coaxed $50 million in
funding from a slew of investors, including America Online Inc. and Time Warner.
This mezzanine round of financing was led by private investment firm Bain Capital, with additional investments
from AOL (AOL),
Time Warner (TWX),
Bank of America, UBS Capital,
Hollinger Capital and Singapore
Telecom.
Warburg Dillon Read acted as exclusive advisor to the company in connection
with this transaction. DealTime.com will use the new financing for working
capital, business development, and marketing so that it can continue on its
path to become the ultimate
buyers’ gateway on the Web.
“With online comparison shopping coming of age, DealTime.com is
well-positioned to add substantial value and convenience to consumers’
online buying experience and to capitalize on this growing trend, enabling
customers to use the Internet to make
informed buying decisions,” Len Leader, president, AOL Investments.
Boasting more than 2.4 million visitors last December according to PC Data
Online, DealTime.com is a free, independent, comparison shopping service
that scours the Web for the products consumers want — for what they want to
pay for them.