Experts & VCs join tape.tv to pump up the volume for social music TV
Tape.tv raises 5 million Euro in order to boost expansion and cross-platform strategy with new strategic partners that enlarge the advisory board.
Berlin-based social music television tape.tv has raised 5 million Euros from different investors in exchange for a small minority stake. Participants are Atlantic Capital Partners GmbH (through its currently managed fund), Dario Suter, Christoph Daniel und Marc Schmidhelny (DCM), Christophe Maire as well as Investitionsbank Berlin (IBB) VC Fonds Kreativwirtschaft Berlin, managed by IBB Beteiligungsgesellschaft. Corporate Finance Partners – now ACXIT Capital Partners – has advised tape.tv founders and existing shareholders in the fundraising process. With the proceeds from this investment round, tape.tv plans to further scale its business, invest into technology and make the tape.tv experience more available across all devices.
On the occasion of the fundraising, Conrad Fritzsch explained: “For the next year we face a huge challenge: How do we create TV for the future in a way that works on a global scale? We are sure that we found the ideal partners in order to boost our international expansion and the further development of our platform”, says Fritzsch. “We are pleased that expert investors with background from social media, content, TV and media are lending their full support, sharing tape.tv vision to build the leading music video platform across devices.”
tape.tv is personalized music television online: Combining the experience of television with the intelligence and freedom of the internet. Starting in July 2008, the company is the leading German online music video streaming platform, generating EUR 5Mio. in net revenues growing at more than 100% p.a whilst being the preferred platform for advertisers and major & indie labels due to its 3.4M+ unique user and access to 45,000 music videos & original programs. tape.tv was founded by Conrad Fritzsch (CEO) and Stephanie Renner (COO). Chairman of the board is Lars Dittrich (founder of DUG Telecom).
Since its founding, tape.tv has attracted an ever-increasing number of strategic partners, including big platforms, online networks, and traditional media companies. Among these partners are: ZDF.kultur, Facebook, Spotify, Last.fm, bild.de and spiegel.de.
Conrad Fritzsch: “Our users want to be perfectly entertained – always, everywhere and on every single device. Therefore, we aim at the convergence of Internet and TV towards SmartTV and extend this approach towards a creative solution for mobile usage of TV. The future of tape.tv will also be more social, based on the user behavior. Closing the missing social link.”
Marcus Englert (Atlantic Capital Partners): “Video is one of the core strategic investment areas of Atlantic Capital Partners. I believe that tape.tv shows all necessary ingredients for the next big thing in the fast growing market for online video. The unparalleled combination of state of the art technology, exceptional creativity and innovative forms of advertising form the basis for a unique next generation TV experience.”
Lars Dittrich (DEG Beteiligung): “For me personally, the thought that TV and internet converge has always been a great idea. I highly appreciate that others VCs believe in tape.tv and offer their support. The company is now structured in a way that we can give essential answers to the pressing questions of the media industry.”
Christophe Maire (Atlantic Internet): “tape.tv is reinventing the video TV experience on web and mobile through curation and personalization. The company focus on product innovation is impressive and tape.tv winning formula will scale well internationally.”
Marco Zeller (IBB Beteiligungsgesellschaft): “tape.tv is a fast developing company which benefits a lot from the advantages that are offered here in Berlin, especially the creative media community and the tech-scene. With a combination of trend-setting creative content and advanced media technology tape.tv has the potential to lead music television into the generation online.”
Corporate Finance Partners – now ACXIT Capital Partners – acted as exclusive adviser to tape.tv founders and shareholders
tape.tv is based in Berlin, Germany and launched in July 2008. Currently, the company employs 65 staff. The Company is the preferred platform for advertisers and content owners due to its 3.4M+ unique user and access to 45,000 music videos & original programs. tape.tv combines editorially curated content with a personal music program and thus connects advantages of television with the intelligence of the internet. The Company has developed innovative advertising formats (Pre-Roll 360⁰, 360⁰ MotionAd, Mixtape) and combines them with standard advertising formats on the internet. (www.tape.tv)
About Atlantic Capital Partners
Atlantic Capital Partners GmbH, which is based in Munich and Houston, invests in the growth stage of start-ups within the software and digital industries. General Partners of the company founded in 2010 are Moshe Bar, Alexander Brühl and Dr. Marcus Englert. Each of them possesses long-term experience in different positions and companies of the digital economy. Atlantic partners support the buildup and development of young companies in their growth stage through comprehensive knowhow and a great network of business partners in Europe, Israel and the USA. (www.atlanticcp.com)
IBB Beteiligungsgesellschaft mbH provides venture capital for young Berlin-based technology-oriented companies and companies from the creative industries. We were founded in 1997 as a 100% subsidiary of Investitionsbank Berlin to support Berlin-based small and medium-sized enterprises. Since 1997, syndicates involving IBB Beteiligungsgesellschaft mbH have provided Berlin-based companies with more than 786 m EUR. Thereof IBB Bet. contributed approximately 105 m EUR as lead-, co-lead- or co-investor. (www.ibb-bet.de)
Founders of DCM are the Swiss-born Dario Suter, Christoph Daniel and Marc Schmidhelny. The entrepreneurs have experience in the internet and movie business. Dario Suter has managed the buildup of the social network studiVZ. After that the entry into the film business followed together with Christoph Daniel and Marc Schmidhelny, Absolvent of the London Film Academy. Under the roof of DCM productions the three partners produced several movies, amongst others a coproduction with the BBC „Quartet“, the regie debut of Dustin Hoffman. The two other business fields of DCM are Filmverleih („The Artist“) and the support of internet startups as business angels. (www.dcmworld.com)
ACXIT Capital Partners is a leading independent corporate finance and investment advisory firm for mid-market clients and entrepreneurs in Europe and beyond. Since 1998, ACXIT offers its clients comprehensive corporate finance advisory services including M&A and capital markets advisory as well as restructuring, equity/debt and strategic advisory. As an independent, privately owned firm we maintain offices and representations in Frankfurt, Berlin, Munich, Leipzig, Zurich, Hong Kong and New York, as well as strong alliances in France, China and India. (www.acxit.com)
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