PARIS, Oct. 12 /CNW/ - Deezer has just announced that it has raised 6.5 million Euros. This capital was formed using funds from AGF Private Equity and CM-CIC Capital Prive, thus joining the historic shareholders who make up the DOTCORP funds. This second fund-raising brings the company's total working capital to 12.2 million Euros since its creation in August 2007.
Guillaume Lautour, partner of AGF Private Equity, is joining the company's board of directors. With over 10 million users in Europe, including 6 million in France and more than one million downloads of its mobile phone apps, Deezer has become the most popular music site in Europe. "We are delighted to welcome the assistance of AGF Private Equity and CM-CIC Capital Prive in the Deezer adventure. Their experience in the Media and Internet sectors is decisive in the continuation of our business. This equity validates our position and strategy. We are henceforth prepared to continue with our development using state-of-the-art models in all European countries", noted Jonathan Benassaya and Daniel Marhely.
Guillaume Lautour, Partner, AGF Private Equity added: "Deezer is an amazing company and one of the few players capable of deploying its model globally for the benefit of users and production companies with whom it is actively collaborating. The company is focussing on the medium term and this pool of funds is just one more step in that direction".
Stephane Pesque, Board Member of CM-CIC Capital Prive commented: "Deezer has quickly become the leader in the on-line music market. Being involved in this adventure and supporting Deezer in its development is a great opportunity".
In this context, Deezer is continuing its strategy for growth and has announced the creation of Odyssey Music Group (OMG), its parent company. OMG will support production activities and some technological developments, especially those linked to mobility. Deezer remains an independent publication held by Blogmusik SAS. This strategical move positions OMG as a Media and Technological Group which will allow it to capitalise on all of its expertise.
About AGF Private Equity:
AGF Private Equity, a subsidiary of the Allianz Group, is one of the most active risk capital investors in Europe. With 500 million Euros under its management, AGF Private Equity has funded more than 80 companies over the last decade and is a leading investor in twenty Internet companies including Meetic, Dailymotion, Viadeo, Telemarket and Criteo.
About CM-CIC Capital Prive:
A subsidiary of CIC Finance, CM-CIC Capital Prive is a company that manages Mutual Innovation Investment Funds (IIF) and Local Investment Funds (LIF) for the Credit Mutuel-CIC Group. On 30 June 2009, it was managing 360M Euros distributed among ten IIFs and eleven LIFs. As part of its IIF management, CM-CIC Capital Prive supports innovative companies including: Spartoo, Nexway, Travel Horizon, Canal CE, Tekka, Digitck, Metrixware, Kadrige.
For further information: For further information: Press Contact: Deezer, Sophie Samama, Tel: +33(0)1-55-80-69-02, Mob: +33(0)6-71-50-62-01, M: email@example.com