Tuesday, March 25, 2008

Become.com raises $17.5 million investment from TPG

I am very excited to announce that Become.com raised $17.5 million investment from TPG (Texas Pacific Group) which is one of the largest private equity/venture capital funds in the world. It took sometime to find the right investor to partner with and we found a great investor in TPG. I am looking forward to having Taek Kwon of TPG join our board and work with the team to build Become into a great company that is built to last. We have been profitable for 2 consecutive quarters since Q4, 2007 and our business is still going through a very fast growth. We now have over 10 million unique visits to our site per month which is over 300% growth from the same period last year. Everyone at the company and all the investors are very happy with this investment. With the additional funding we are going to invest in key areas of the business to accelerate the growth with an eye toward IPO by the end of 2010. Our goal is to become a top comparison shopping engine company in the world. The news of this investment has been covered by VentureBeat, Comparisonengines.com, Mashable.com and many other places: