Sunday, August 1

CVC buys $470 mln worth stake in media firm Aleph Holding


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Aleph Holding said on Monday private equity firm CVC Capital Partners bought a stake worth $470 million, valuing the digital media company at around $2 billion.

Aleph, founded in 2005 as IMS Internet Media Service by Chief Executive Officer Gastón Taratuta with only $5,000 as capital, is on track to hit $1 billion in revenue this year, the company’s website showed.

It said earlier this year it raised funds through a private placement, and that Sony Pictures Television holds a minority stake in it.

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Aleph helps digital media firms, including social media companies including Facebook Inc, Twitter Inc, Microsoft Corp-owned LinkedIn and Snap Inc’s Snapchat connect with advertisers across the globe.

It operates in more than 90 markets worldwide, according to Aleph’s website.

Aleph recently appointed Imran Khan, who was involved in the IPOs of Alibaba Group Holding Ltd and Snap Inc, as the chairman of its board. Khan is a former chief strategy officer at Snap Inc and the co-founder and CEO of e-commerce platform Verishop. (Reporting by Sohini Podder in Bengaluru; Editing by Shinjini Ganguli)



financialpost.com

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