Bestofmedia Group Gets Its First Fundings; $35 Million From Index Ventures

This story was written by Joseph Weisenthal.
Bestofmedia Group, the French tech publisher that acquired tech sites Tom's Hardware and related sites last year, has taken its first outside funding in its 8-year history: It has raised 22.5 million ($35 million) from Index Ventures. The company claims to be the third biggest online tech publication in terms of traffic, ranking behind CNET (NSDQ: CNET) and IDG. In addition to the Tom's family of sites, it operates properties like Buycentral.com (comparison pricing) and Jeuvideopc.com (games search). The company was founded in 2000 by Alfred Vricel and Eric Florand; Vricel serves as CEO. Basically, the company says the plan is to grow and remain independent. It's probably safe to expect more acquisitions with this cash, as that has already been a key component of the company's growth strategy so far. Bestofmedia is not revealing any other financial metrics, like revenue, nor did it announce the valuation. However, last November Lycos Europe sold its eight percent stake in the company for $2.5 million, so at that ratio the company was only valued at $31.25 million, suggesting that this is a major effort to juice both growth and size.


By Joseph Weisenthal
  • CBSNews

Comments

CBSN Live

pop-out
Live Video

Watch CBSN Live

Watch CBS News anytime, anywhere with the new 24/7 digital news network. Stream CBSN live or on demand for FREE on your TV, computer, tablet, or smartphone.