Netlog is truly unique, as it's the only company we've come across in the European social networking space which boasts an experienced team, an extremely well engineered product and real traction across multiple geographies. We are extremely excited to work with the team in building a European Leader
Aalst, Belgium and London (PRWEB) April 25, 2007
Index Ventures, a leading European venture capital firm, today announced the completion of a €5m Series A investment in Netlog, which operates Europe's fastest growing network of social portals. Atomico, which is co-founded by Niklas Zennström is also investing along with Janus Friis. Niklas and Janus co-founded Skype. Robin Klein of The Accelerator Group also joined the round.
The funding and venture capital support will allow the company to accelerate the roll-out of additional sites in more languages and territories and to further build up its commercial operations. The company already operates profitably under a dual model of user payment and advertising.
Netlog was established in 2003 in Aalst, Belgium by co-founders Toon Coppens and Lorenz Bogaert, who have been running online communities in Benelux since 2000.
The company launched a pan-European network of sites under the "Facebox" brand in September 2006. Since launch these have attracted over 17 million registered users and generate 2 billion page views per month. Countries where sites have been established include UK, Spain, Portugal, France, Holland, Belgium, Germany, Italy and Romania. All the sites are now being brought under the Netlog brand.
"Netlog is truly unique, as it's the only company we've come across in the European social networking space which boasts an experienced team, an extremely well engineered product and real traction across multiple geographies. We are extremely excited to work with the team in building a European Leader" said Neil Rimer, Index Ventures General Partner.
CEO Lorenz Bogaert, stresses the importance of localisation to the company's success and strategy and said,"What is unique about our product is that it has been designed from the ground up, to run in multiple languages and support many local communities. Everyone arriving at our site immediately sees people from their own age group and area - which has proven to be very popular with our users."
About Index Ventures
Index Ventures has been active in technology venture investing since 1996. The firm is dedicated to helping great entrepreneurial teams in the information technology and life science sectors build their companies into market-defining global leaders. The firm has offices in Geneva, London and Jersey. Index Ventures is an active investor in the consumer internet sector and investments of note include Last.fm, the online social music revolution and Stardoll, the celebrity doll dress up site for the girls. Other landmark investments include Betfair, the world's largest betting exchange, Skype, recently sold to eBay and Genmab, one of the largest antibody companies in the world. For more information, please visit http://www.indexventures.com
Netlog was founded in 2003 and operates online community platform specifically targeted at the European youth. Netlog has more than 17 million members throughout Europe with sites currently available in eight languages - English, French, Spanish, German, Portuguese, Dutch, Italian and Romanian. The Company is headquartered in Aalst, Belgium where it has 20 employees and leverages a network of translators and community managers across Europe. The Company was a Red Herring Europe 100 award winner in 2007. For more information, please visit http://corporate.netlog.com
For UK Media inquiries:
Sayula Kirby, Index Ventures
+44 207 154 2009
sayula [at] indexventures [dot] com
For USA Media inquries:
Jeff Koo, Sparkpr for Index Ventures
jeff [at] sparkpr [dot] com