FRANCE - Turenne backs Mediastay acquisition of Lucky Surf

Established in 2000 and headquartered in Levallois-Perret, Mediastay runs free online lotteries through its kingoloto.com and grattage.com websites. The validated email addresses collected are then used to conduct marketing campaigns on behalf of retailers and other clients, including La Redoute, Tele2 and Meetic, with the firm receiving a commission on sales resulting from the campaigns. The business, which began in France, also operates in the UK and in Germany.

The company employs around 30 people and posted sales of EUR 11m in 2007. Turenne initially invested in Mediastay in June 2007, investing EUR 3.8m in equity and convertible Bonds in an OBO deal. The development strategy involves both a geographic expansion and a diversification of the company's offering.

San Francisco-based Lucky Surf is an operator of free online lotteries founded in 1999. 80% of its activity is in the US while the remainder is split between France and the UK, with a client base that includes YSL, Lancôme in Canada and Peugeot.

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• Topics
• Expansion
• France
• Consumer