Mail.ru Group Limited (MRG), one of the biggest internet companies in the Russian-speaking world, has announced the creation of a partnership involving ESforce eSports business and Modern Pick.
The company says the partnership will allow Mail.ru Group and Modern Pick to create a well-diversified esports business, with a presence in Russia/CIS and Europe, access to a broader games portfolio, and expertise in AAA+ games development, esports teams, broadcasting, video production, streaming, tournament organisation and venues, combined with an extensive set of media and global brand partnerships.
MRG already holds 3% of Modern Pick, and will transfer 51% of ESforce to Modern Pick, and implied valuation of $56m ($100m for 100%), with the resulting combined company having an initial valuation of $350m.
The company will be re-evaluated based on its 2022 financial performance, and if it falls below a minimum threshold, MRG will have the option to exit the merged company and get its 51% of ESforce shares back.
According to a statement, MRG sees the move as a way to add options to its monetisation channels for both existing and future game content, and increase its role in the global esports market through operating esports leagues.
The company hopes to achieve significant synergies from access to a much broader European sponsorship market, wider opportunities in esports and media projects, and broadening its non-violent games portfolio, which it says is particularly attractive to sponsors.
Read the full artice at: Ayo.news
Graduway, the global leader in alumni engagement and career services management software for educational institutions and non-profit organizations, today announced a $60 million investment from K1 Investment Management, a leading private equity firm focused on enterprise software.
The company has established itself as a thought leader in both the alumni relations and career services industry over the last few years while simultaneously building a category-defining platform. With K1’s investment, Graduway has been able to rapidly expand its product suite from alumni relations into career services and development, mirroring the integration trend seen in the industry.
“Our partnership with K1 has provided our team with a powerful edge and set of capabilities to execute on our growth plans,” said Daniel Cohen, chief executive officer of Graduway. “As a result, Graduway has become the only provider for schools, universities and non-profits that is focused on the entire relationship lifecycle from prospective student, to student, to alum to donor.”
Read the article at: PRNewswire
Bizzabo, the New York and Tel Aviv-based events management platform, has raised $27 million in Series D funding. Leading the round is Viola Growth, along with new investor Next47.
We’re also told that previous backers, including Pilot Growth, followed on. The new funding brings the total raised by the company to $56 million.
Originally launched in 2012 as a networking app for event attendees, Bizzabo now claims to be the leading end-to-end “Event Success Platform.” As it exists today, one way to describe the cloud-based software is akin to “Salesforce for events”: helping enterprises create, manage and execute every aspect of a live event.
As TechCrunch’s Catherine Shu previously wrote, the SaaS automates time-consuming event tasks related to email, social media and web marketing, and contact management.
There’s an increasing data play, too, with the ability to crunch and analyse event data to help event organisers garner more registrations, increase revenue and improve the overall attendee experience.
“Our vision is to provide a data-driven and personalized journey for attendees,” Bizzabo CEO and co-founder Eran Ben-Shushan tells me. “An 800-person conference should feel like 800 unique in-person event experiences. By leveraging hundreds of data points throughout the attendee journey, our customers can deliver extremely personalised promotion campaigns, custom-tailor the event agenda and proactively cater to each attendee action.”
As an example, Ben-Shushan says an attendee at a user conference can receive recommended sessions, business introductions and even sponsored offers based on interest and intent expressed before, during and after the event.
To that end, Bizzabo says its Series D will be used to expand the platform’s capabilities and continue to help enterprise and mid-market organizations “build data-driven, personalized and engaging professional event experiences.” That will include growing its R&D and own marketing teams, adding to the more than 120 current employees in its New York and Tel Aviv offices.
Ben-Shushan reckons that on average 25 percent of a B2B company’s marketing budget is spent on live events. This has resulted in the number of professional events increasing exponentially each year, such as conferences and seminars, trade shows or other experiences.
However, it remains a challenge to create, manage, market and measure the success of events while maximizing ROI — which is where Ben-Shushan says Bizzabo comes in.
Bizzabo’s better-known customers include Inbound, SaaStr, Forbes, Dow Jones, Gainsight and Drift. Meanwhile, the event management space as a whole is said to be worth $500 billion.
Read the article at: Techcrunch
TPG-backed makeup-subscription service Ipsy is considering a sale or an initial public offering.
The company could fetch about $2 billion in a sale, the people said. A sale or IPO could take place next year, one of the people said.
Ipsy was valued at more than $500 million in 2015 when private equity firm TPG and venture capital shop Sherpa Ventures led a $100 million funding round, a person familiar with the matter said at the time.
Ipsy sells a $10 monthly “glam bag” filled with five cult-favorite beauty products such as Benefit brand mascara or Smashbox makeup primer.
The company, based in San Mateo, California, was founded by social-media celebrity Michelle Phan and CEO Marcelo Camberos, an early employee at the humor website Funny-or-Die.
The company leans on social media influencers, called the Ipsy community, to grow a following and at times plug their products. The most influential of those people, called official creators, have hundreds of thousands of social media followers.
Read more at Bloomberg