« Xing Now Speaks Spanish With eConozco Acquisition | Main | Experteer Brings In Wellington and BV Capital »
March 27, 2007
Burda Takes Stake In SevenLoad
Burda Digital Venture, the German media company's venture arm has taken a small stake in YouTube-like Sevenload GmbH. There was no disclosure on the size of the investment, but the corporate finance team that assisted two year old Sevenload's founders Axel Schmiegelow and Ibrahim Evsan on the deal said it is "one of the largest Web 2.0 investment in Germany to date".
One of our regular and trusted readers from Germany told the a:c the amount invested is rumored to be in the "upper single digit million Euros".
Burda will also enter a business cooperation with Sevenload to enable video publishing by some of its brands and communities.
SevenLoad has several "channels" now. Folks send in their own cooking shows, comedy series, and day-in-the-life style reporting.
There's premium content too.
Read - IEG press announcement
Posted on March 27, 2007 05:02 AM | Posted to News And Updates | Permalink
Trackback Pings
TrackBack URL for this entry:
http://www.thealarmclock.com/mt/mt-tb.cgi/3876
