Private Sale GmbH (Germany) - Dec 2007

Mangrove Capital Partners has acquired a significant minority stake in Private Sale GmbH for €4m, with private investors contributing a further €1m. The previous funding round involved Holtzbrinck Ventures and angel investors.

Mangrove’s interest in alternative forms of e-commerce, combined with the strong team and partnerships behind Private Sale were cited as important factors in the decision to invest in the company, which attempts to implement the successful business model of French company Vente Privée in the German-speaking markets. The funding enables the company to expand the capacities of its platform, as well as to invest in purchasing and marketing.

Company

Private Sale GmbH runs Brands4Friends.de, a website that enables consumers to buy selected original products from well-known and popular fashion and lifestyle brands in time-limited and quantity-restricted sales promotions at extremely attractive prices. The business model has been successfully used by French company Vente Privée. New customers are won through viral marketing, as existing customers can invite their friends and contacts, which is the only way to gain access to the service.

People

Hans-Jürgen Schmitz acted on behalf of Mangrove. Christian Heitmeyer and Constantin Bisanz are founders and CEOs of Brands4Friends.

Advisers

Equity - Gassner Stockman & Kollegen, (Legal)

Sourced from: Deutsche unquote" 95 (Feb 2008)

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• Early-stage
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• Germany