NexTag sells majority stake for $830MM

Jun 08, 2007

It's confirmed: We just got word that NexTag sold a 2/3 stake to Providence Equity Partners, a private equity firm for $830MM.

This values the company at $1.2 billion.

Om had a good writeup four days ago:

Nextag is said to be doing about $200 million in revenues, with a lucrative mortgage and other lead generation business being the rocket that is driving the company. Internet giants for example – have taken out its peers – MySimon, PriceGrabber, Shopping.com and Shopzilla.

CONGRATULATIONS to NexTag! Lots of hard work went into building this business, and we're proud at ChannelAdvisor to be a partner.

Written by Scott Hurff. scott.hurff (at) channeladvisor (dot) com

Posted at 12:00 PM in CSE News

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