Spickmich AG (Germany) - Dec 2007

M10 GmbH and Econa AG have provided early-stage financing to internet startup Spickmich AG, with M10 acting as business angel. The contact was established through the alumni network of Cologne university, Organisationsforum Wirtschaftskongress (OFW), where the founders met Jörg Rheinboldt of M10 Partners and Bernd Hardes of Econa AG. This is the first investment in the company. Both M10 and Econa took 15% of equity. The founders are currently preparing for a second round of funding. The capital enables Spickmich to cope with the increased traffic to its website, as well as expand infrastructure, further development, new features like chats, as well as increased marketing. The company plans to become profitable through advertising on the website, affiliate programmes and item sales.

Company

Spickmich provides an online platform for pupils to anonymously rate their school teachers in several categories to provide ‘fair’ feedback, as well as an online community for pupils with forums and chat. Spickmich is developing an entirely new feature set based on its strategy to move further into the area of social entertainment. Spickmich was founded in May 2007 and employs 12 people.

People

Tino Keller, Manuel Weisbrod and Philipp Weidenhiller are founders of Spickmich.

Sourced from: Deutsche unquote" 94 (Jan 2008)

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• Topics
• DACH
• Early-stage
• Technology
• Germany