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Batanga Completes
Series B Financing
H.I.G. Ventures Leads
$5 Million Round for Fastest Growing Online Destination for US
Hispanics
Miami, FL--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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