REUTERS – Aug 23 - Two of eHarmony's main backers stand to gain extra leverage over the company when redemption rights from its last financing round kick in — an unusual development in the venture capital business. The rights come into play after November 5 for Technology Crossover Ventures and Sequoia Capital, which invested when eHarmony raised $110M in 2004. The firms will have the right to require eHarmony to buy back their preferred shares in four quarterly installments.
Category: Reporters – Alistair Barr
Zoosk Looks to Attract Investors for New Financing
REUTERS – Aug 17 – Zoosk recently hired Deutsche Bank to help it raise $50 – $75M. The new financing will help Zoosk pay for more marketing and international expansion. Zoosk operates a dating community of more than 50M users in 60 countries and it recently extended a TV ad campaign from the US into the UK and Canada. Zoosk closed a $30M round of funding in late 2009, bringing total financing at that time to $40.5M.