Business.com, an online business information resource, has secured $61 million in financing from a group led by the Financial Times Group, a division of Pearson plcand Cahners Business Information, a member of the Reed Elsevier plc group.
The equity round also included an investment by Mort Zuckerman, owner of U.S. News & World Report, Fast Company and The New York Daily News. Other investors in the round include IndustryClick, a subsidiary of Primedia Inc., and The McGraw-Hill Cos.
In a statement, the company said the funding will allow Business.com to expand the content and features of
the site, fuel international expansion, further develop the technology of the Business.com Operating
System (BOS), and establish Business.com as the leading brand of the Business Internet. Along with the financial investments, Business.com is also pursuing content deals with its partners to provide users access to premium business and trade publications.
“The caliber and breadth of investors in this round is a powerful
endorsement of Business.com’s mission and
unique product,” said Jake Winebaum, founder and CEO of Business.com. “Our
partners are the best
business media companies in the world, which will allow us to greatly expand
our specialized business
content and reach and establish Business.com as the definitive online
business resource.”
Stephen Hill, CEO of The Financial Times Group, and Marc Teren, CEO of
Cahners Business Information, will
serve on Business.com’s Board of Directors.
As part of Business.com’s content agreement with the Financial Times Group,
FT.com will become the
premium provider of news on financial services, management and international
trade on the Business.com
site. The agreement also gives FT.com users access to Business.com’s
business-specific Web directory and
search tool.