FRANCE/ITALY - Truffle Capital takes GoAdv public

The private placement of 19% of the company's capital on August 1st, generating a return of EUR 6.65m, preceded a public listing of nearly 6.5 million shares on the Alternext market of Euronext Paris. The financing will be used to organically grow the company through further development of the technical and R&D teams, both based in Italy.

Dublin-based GoAdv manages and edits over 80 websites providing an intermediary service between buyers and sellers across Europe. In 2006 the company posted revenues of EUR 9.8m and net profit of EUR 500,000, a 108% and 180% increase respectively on the previous year. Bernard Louis-Roques, general partner and founder of Truffle Capital, will join the GoAdv board of directors.

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