more news from techtarget
Filed in archive Entrepreneurship by tj on December 22, 2004
A) A new US$ 15 million round of funding:
"Information technology (IT) media company TechTarget announced today that it has secured $15 million in Series C funding from Palo Alto-based Technology Crossover Ventures (TCV) and Waltham (MA)-based Polaris Venture Partners. TCV and Polaris Venture Partners are existing investors in the company. Polaris led TechTarget's $30 million Series A round and participated in the June 2004 funding round of $70 million, in which TCV was the lead investor. The Series C funding brings TechTarget's total funding to $127 million, with $85 million raised in 2004 alone. Only two other U.S. companies have secured more funding this year.B) Techtarget has spend US$ 40 million on Bitpipe:
TechTarget will use the proceeds to continue its rapid organic growth, fund additional acquisitions, and expand its international presence. The company projects it will close 2004 with nearly $50 million in revenue and will surpass $80 million in revenue in 2005. "
"Information technology (IT) media company TechTarget announced today it has acquired Boston-based Bitpipe, Inc. for $40 million in cash. Bitpipe is the #1 distributor of IT white papers, and, with TechTarget, one of the two fastest growing media companies serving enterprise IT professionals and executives. As a result of the acquisition, TechTarget now owns a majority share of the market for the distribution of IT white papers and other vendor-supplied content---serving a larger number of IT professionals and executives, and generating more revenue from that activity, than all other IT publishers combined."C) Techtarget also plans 6 more acquisitions this year - seems a bit like 1999, isn't it?
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