Viadeo (www.viadeo.com), one of the world’s largest online business communities with over 1.3million members across Europe, has today announced that that it has raised a further €5million (£3.4million) from existing investors, AGF Private Equity and Ventech. Following Viadeo’s rapid expansion across Europe, the extra funding will be used to further accelerate the network’s growth across the world and particularly in Asia.
Viadeo has raised a total of €15million from investors to date. The company is cash flow positive, and its valuation has already tripled from the value used for the investment last year.
International business community
Originally founded in 2003 by 200 high-flying entrepreneurs in France, Viadeo started as a private network of business people who realised that they could share key business information and solutions to day-to-day business problems if they networked together on the Internet. Today, Viadeo is available in seven European languages and allows business professionals to create, maintain and grow a network of trusted connections in a secure, global online community.
Following the launch of Viadeo’s network in the UK, Germany, Spain, Italy and Portugal in January 2007, the network has seen huge organic growth. Viadeo has also seen massive expansion across Asia, following the company’s strategic partnership with Tianji, China’s largest business network in March 2007. Together the two networks represent nearly two million members across the world with almost 140,000 new users joining every month.
As a direct result of this success, Viadeo is now aiming to fuel further rapid growth across the world, and replicate the thriving partnership with Tianji, particularly in Asia. Viadeo aims to use the extra funding to further build the community for the benefit of business people all over the world.
“We are delighted to receive this extra funding from our investors,” says Dan Serfaty, CEO and Founder, Viadeo. “This shows the confidence of our investors in our business model and our strategic positioning in a promising market, in particular given the background of recent turbulence in the financial markets. We will now be able to further expand our network to make it easier for business professionals to meet valuable new people, wherever they are in the world.”
“The rapid growth of Viadeo’s network is proof that the nature of business has changed, and it is now essential that people have the right contacts in place to make new connections with potential clients, suppliers or employees, whatever point they are in their career and whether they are three or three thousand miles away.”
“Having already taken part in the first round of financing last year, we are convinced by the quality of Viadeo’s management team and their strategy,” says Alain Caffi, General Partner at Ventech and Benoist Grossmann, Managing Director d’AGF Private Equity agreed. “The management team has proved its business model, its ability to execute according to the business plan and a continuing capacity for innovation. As well as in Europe, Viadeo has the potential to be a major player in Asia and for this reason we have decided to provide the management team with additional financing”.
Viadeo is one of the world’s largest business social networks with over 1.3million members across Europe. Members use Viadeo to find clients, suppliers, business partners, jobs and employees from all over the world online.
Originally founded in 2003 by 200 high-flying entrepreneurs in France, Viadeo started as a private network of business people who realised that they could share key business information and solutions to day-to-day business problems if they networked together on the Internet. The network was opened to the public in 2004 and grew to over one million members in less than 2 years and has now become a truly international network where users can create profiles and network in English, French, Spanish, German, Portuguese, Italian and Dutch. It will soon be available in other languages including Chinese.
For more information about Viadeo UK, please visit www.viadeo.com
- Total investment in the company : 15M€ (Agregator : 5M€ – AGF PE and Ventech : 5M€ in June 2006 and 5M€ in Aug 2007).
- Membership growth at over 20% per month
- A team with over 70 members across France, Belgium, Switzerland, Luxembourg, UK, Germany, Portugal, Spain, Italy, China and Canada
- Over 2 million members (more than 1 million in France, 300 000 across the rest of Europe and nearly one million in China)
- More than 3,000 new members per day
- 2.6 millions profile views each month
- 6,000 introductions per day
- More than 20,000 Hubs (Discussion forums run by members)
- Member profiles : employees (senior and middle managers.) : 75% – founders/owners of businesses : 15% freelances.independents : 5% – others : 5%
About AGF Private Equity
AGF Private Equity, a subsidiary of AGF, itself part of the Allianz Group, is a specialist investment company. The company manages a total of 2 billion Euros in assets and is amongst the leaders in France in two activities: Funds of Funds and Venture Capital. With this broad base of expertise, AGF Private Equity offers institutional investors investment opportunities across Europe, via investment vehicles adapted to the their needs : Funds of Funds, Management Companies and Dedicated Funds.
For more information: http://www.agfpe.com