TITLE

Hachette pours equity into Phase2Media

AUTHOR(S)
Kerwin, Ann Marie
PUB. DATE
November 1999
SOURCE
Advertising Age;11/1/1999, Vol. 70 Issue 45, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports on the acquisition of an equity interest in startup Internet advertising representative company Phase2Media by Hachette Filipacchi Medias (HFM), parent company of U.S.-based Hachette Filipacchi Magazines, in 1999. With the deal, Phase2Media completes its first round of funding. HFM joins Vector Capital and Starwood Capital Group; the three are believed collectively to be investing an estimated U.S. $10 million. Phase2Media was hired to represent Elle.com in June 1999 and through the affiliation HFM executives discerned that the representative company's approach to Internet advertising sale was similar to its own goal. With HFM onboard as a strategic partners, Phase2Media believes it can achieve international growth much faster than was possible before. INSET: Hachette completes deal to take control of 'George'.
ACCESSION #
2489671

 

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