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August 20, 2007
Premiere Invests €10M in VC-backed Auction Startup 1-2-3.tv
Premiere, the German pay-TV broadcaster, acquired a 14.4 percent stake in VC-backed 1-2-3.tv, as Der Spiegel first reported last week. It is not clear to your a:c euro reporter if it was a capital increase or buying old shares, but DowJones later confirmed the transaction, reporting that it was a €10M deal. (via visavis ).
Our calculator says that’s a €69M valuation for the three year old TV auction startup, which had a turnover of €67M last year, and has raised at least €32M in two rounds. It claims 500K customers participating in its daily dial-in consumer product auctions which are broadcast on cable and satellite free channels and on its website. Premiere will now also be adding the channel to its ‘bouquet’.
The venture has Munich-based Wellington Partners, 3i, Target Partners, and Iris Capital backing it.
Posted on August 20, 2007 05:48 AM | Posted to Media | News And Updates | Permalink
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