New York City-based iVillage said it closed a $32.5-million round of private financing by long-term financial and strategic investors.
iVillage said it will use the additional funds to focus on brand-extension,
distribution, advertising, and promotional programs for its flagship brand,
iVillage.com: The Women’s Network (also on AOL, keyword: ivillage), currently
at more than 65 million page views per month.
“Our branding campaign will alert millions of women to the real value
iVillage.com has to offer, further extending our lead in the category,” said
iVillage CEO Candice Carpenter. “At a time when marketing to women is a
$35-billion industry, this round of investments demonstrates strong validation
by the financial community of the iVillage business model.”
New investors include Boston Millennia Partners, a private equity firm
specializing in high-growth companies in the telecommunications, information
technology and healthcare sectors; Moore Capital Management, a global
investment management group; National Bank of Kuwait, the leading bank in the
Middle East; Technology Crossover Ventures, a venture capital firm focusing
exclusively on information technology; and Tenet Healthcare Corp., which
provides healthcare to communities in 18 states through 124 acute care
hospitals and related services.
Previous investors are again showing support of iVillage by providing
approximately one-third of the round’s backing. They include America Online;
CIBC Capital Partners; Convergence Partners; Cox Interactive Media; Rho
Management; and Transatlantic Venture Partners, C.V. (a joint venture of
Banexi and Nazem & Co.).
