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Dealipedia - Heavy receives an investment from Polaris Venture Partners...

Heavy receives a $20 million investment

Deal Participants:
Company: Heavy View Profile Charts Homepage
Investors: Polaris Venture Partners View Profile Add Homepage   Google Search
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Deal Financials:
Investment Amount: $ 20 million
Series: B
Date:
Announced: Jan 09, 2007

PRESS RELEASE - Heavy receives a $20 million investment

New York, NY. - Heavy.com, one of the web’s leading online brands and the leader for 18-34 year old guys, today announced that it has closed a $20 million financing round from Polaris Venture Partners. This is the second round of funding from Polaris, which provided $10 million to Heavy.com in early 2006.

The financing will be used to further expand Heavy’s network internationally and to create new brands that capitalize on Heavy’s creative capabilities, advertising relationships and technical infrastructure.

“2006 was a wonderful year for Heavy. Visitors to the site more than doubled and we grew our ad sales and management team, resulting in a 350% revenue increase,” said David Carson, co-CEO of Heavy. “Our goal was to prove our advertising revenue model before expanding into new territories and markets, we’re now well positioned to expand with confidence and surpass those numbers in 2007. This investment enables us to do so quickly.”

“Heavy has clearly established itself as one of the few online video sites able to both attract a very large audience while also building a substantial advertising business,” said Mike Hirshland, partner of Polaris Venture Partners. “Heavy is building a true 21st century media company which combines internally developed content with great consumer generated content and with a sustainable revenue model. As advertisers expand their online video budgets in 2007, they are looking to work with the few online brands that can effectively deliver audience in scale. Heavy is ideally positioned to secure a place as an important player in the emerging media landscape. We are excited to partner with the Heavy team to help build this business.”

About Heavy.com
Heavy is one of the web’s leading consumer media companies and the leader for 18-34 year old males, which is a key demographic for marketers and advertisers. Heavy combines its own unique programming with those of its users to create an environment where you can control and even participate in your own media experience. Heavy empowers its audience to share, editorialize, and create their own content as well as provide its own library of programming. Heavy’s programming staples include “Superficial Friends,” "The Massive Mating Game," "Heavy News," "Behind the Music that Sucks," "Heavy’s Angels," “Transworld”, "Contagious," "Blisster" and "Tourettes Cowboy." Portions of Heavy's library of animation and live-action shorts are available for free download to the Sony PlayStation Portable and the Video iPod. Advertisers on the broadband network include Coors, Nissan, Panasonic, Diesel, Axe, Sony and Nike.


About Polaris Venture Partners
Polaris Venture Partners is a partnership of experienced venture capital investors and technology executives. With over $3 billion under management, Polaris identifies and invests in seed, early stage and growth equity businesses in the technology, life science and digital media sectors. Through a philosophy of lead investing and active, long-term partnering with early stage and growing revenue stage businesses, Polaris has helped a number of companies achieve outstanding success.

More information

http://www.heavy.com/heavy.php

http://www.polarisventures.com/

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Dec 04 '07
This version submitted by beyondtheveil
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