Privalia founders, José Manuel Villanueva and Lucas Carné
11 Oct. 2010
PRIVALIA: EQUITY FIRMS INVEST €70 MILLIONPrivalia, an online shopping club operating in Italy and other markets, has announced receiving a financial support of €70m by two new investors: General Atlantic and Index Ventures will thereby be added to the already established shareholder of Privalia, Highland Capital Partners.
Lucas Carné and José Manuel Villanueva, founders of Privalia, said: “This operation, the most consistent in the online sales segment history, has the aim to help Privalia expand to new European markets also through acquisitions and consolidate our pole position in Latin America.”
Both new investors, General Atlantic and Index Ventures, have a significant experience in e-commerce and successful investments that include Gilt Groupe,(a US leading private online shopping company), Net-à-Porter, and Asos.com.
In addition, Privalia counts on the constant support of its established shareholders Highland Capital Partners, Insight Venture Partners, and Nauta Capital e Caixa Capital Risc.
Privalia is a private online shopping club that organizes monobrand sales offering branded products with discounts up to 70%. It was founded in Barcelona in 2006 and today has over five million members worldwide. Privalia tripled its turnover in 2009 and expects to reach a turnover of €140m by the end of 2010. It employs over 600 people within its four subsidiaries in Spain, Italy, Brazil and Mexico.
Highland Capital Partners was founded with the self-constituted mission of helping great people build great companies. Since its inception in 1988, the company has taken a sector-focused approach to invest in exceptional companies in the fields of communication, consumer goods, digital media, healthcare and information technology.
Index Ventures is a leading venture capital firm active in technology, biotech and clean tech venture investing since 1996. Its current portfolio includes Playfish (acquired by Electronic Arts), MySQL (acquired by Sun), Last.fm (CBS) and Skype. General Atlantic ("GA") is a leading global growth equity firm providing capital and strategic support for growth companies.
Maria Cristina Pavarini
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