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Miami, FL--(HISPANIC PR WIRE)--April 17, 2006--Batanga, one of the fastest growing publishers in the US Hispanic market, announced today the completion of a major strategic round of financing. H.I.G. Ventures led the $5 million round.
"We are extremely excited to get the backing of such a strong investor," said Rafael Urbina, Batanga’s Chairman and CEO. "The resources and connections H.I.G. Ventures brings bring to the table, coupled with the momentum achieved through our recent merger of Batanga, give our company a great boost toward becoming the premier online destination for young Hispanics."
Batanga publishes Batanga.com, a site that offers quality content to the U.S. Hispanic market in the form of 25 online radio stations, thousands of on-demand videos and multimedia content across channels including Latin Music, Sports and Autos. The funds raised will support Batanga’s growing Hispanic advertising business as well as its entry into new distribution, marketing and content channels.
“Online entertainment consumption within the U.S. Hispanic market is growing exponentially and Batanga has put together a very attractive set of media offerings for this audience,” said John Kim, Managing Director for H.I.G. Ventures. “Batanga’s has the right management team in place and a proven sales engine that will make this company a dominant force in online and wireless Hispanic media. We look forward to helping them achieve this kind of market position.”
About Batanga
Batanga is the result of the merger between two deep content online Latino leaders – Batanga.com and PlanetaTV.com – becoming the premier online destination for US Hispanics. Batanga’s flagship destination – Batanga.com – offers the deepest content offering across passion-driving categories such as Latin music, sports, and autos. Batanga reaches Hispanics online, regardless of language preference through rich, deep and interactive content and with the largest inventory of rich media placements. Batanga is focused on delivering integrated marketing solutions, including content production and product integration. For more information, visit http://www.batanga.com.
About H.I.G. Ventures
H.I.G. Ventures partners with entrepreneurs to provide the capital, expertise and relationships necessary to build market-leading businesses. With over $550 million in dedicated venture capital under management, the firm’s team invests nationally in early to –mid-stage information technology and life sciences businesses. H.I.G. Ventures is the venture capital affiliate of H.I.G. Capital, a leading private and public equity investment firm with over $2 billion of capital under management and offices in Atlanta, Boston, Miami and San Francisco. For more information, visit http://www.higventures.com.
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CONTACT
HMI
Rafael Urbina
CEO
(305) 476 2974 x202
or
Troy McConnell
COO
(336) 669 6065 |
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