July 17, 2008
Become.Com Raises $8 Million Investment From European Founder’s Fund
European Founder's Fund and Become.com (http://www.become.com/), the Web's fastest-growing site for comparison shopping, announced today that European Founder's Fund has made an $8 million Series D investment in Become.com.
This brings the total investment in Become, Inc. to $37.2M, including a recent Series C investment from TPG for $17.5M. Become.com has been profitable since Q4 2007 and raised these rounds to facilitate aggressive growth.
"This investment opens up new opportunities for our company," said Michael Yang, Become.com's Founder and CEO. "We look forward to taking our unique, research-based approach to comparison shopping to the European market and providing the best shopping experience possible for its users."
In markets outside of Europe, the European Founder's Fund invests in later stage technology companies to bridge the gap between the North American and European markets. Become.com plans to use the funding acquired to enter markets in the UK, Germany, and France.
European Founder's Fund and its founders, the Samwer brothers, have invested in Silicon Valley internet companies including Facebook and LinkedIn. "This (internet) is where we have the most experience and broadest network," said Oliver Samwer, Partner of EFF. "We're excited to invest in Become.com, a rapidly growing product research and comparison shopping engine, and look forward to supporting them in entering the European market through our experience and network."
Become.com is a powerful search engine and comparison shopping service. Founded by industry pioneers Michael Yang and Yeogirl Yun, creators of MySimon, Become.com helps people make better buying decisions and purchases online. Become.com searches over four billion web pages and uses its patent-pending AIR(TM) (Affinity Index Ranking) search technology to provide the Internet's most useful product reviews and guides, and then makes it easy to find and buy products from brand name retailers at the best prices. With over 25 million products and 5000 merchants, Become.com provides the Web's most robust and easy to use combination of relevant product research and comparison shopping. Please visit us at www.become.com.
About the European Founders Fund
European Founders Fund is a highly selective investment company run by brothers Marc, Oliver and Alexander Samwer. The Samwer brothers founded Alando (which became eBay Germany), and Jamba!. EFF is focused on investing in young and later stage technology and new media companies, which have included market leaders such as LinkedIn and HomeAway.