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June 12, 2006
Free French Sports Mag Goes Online and Into UK
The number of media deals undertaken by European VCs is on the increase. The latest is a €10M round for Sports Médias et Stratégie, which publishes a free sports magazine distributed in France, as well as an online sports tabloid, Freesport.fr. Update: The two year old venture has already reached the breakeven point and is on track for €12M in sales this year.
Iris Capital, Galileo and Crédit Agricole Private Equity make up the syndicate of investors backing the expansion of this two year old French startup. Update: The syndicate also includes Complete Leisure Group, a specialized investment co. based in the UK. Since inception, the company has received 3 rounds of financing amounting to €18M.
The plan is to launch "Sport" in the UK by the end of the year. Some 516,000 copies of the paper version are circulated each week and read by about 2 consumers, according to a report in Toutsurlacom.
Read - Le gratuit Sport distribué en Grande-Bretagne avant fin 2006 (toutsurlacom)
Posted on June 12, 2006 08:00 AM | Posted to News And Updates | Permalink
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