Bad Homburg v.d.H., August 8th, 2016 – Creathor Venture, a leading pan-European Venture Capital firm, successfully sold its portfolio company News Republic, a worldwide leading global mobile news service operator for US$ 57 million.
News Republic is an international mobile company focusing on changing the news ecosystem and the way people interact with the world around them. Being a worldwide leading news media group, News Republic publishes 50,000 non-truncated fully licensed news articles, photos and videos per day. The company with headquarters in Bordeaux and San Francisco publishes the news in 37 languages and 40 distinct country editions. The News Republic app is available on Android and iOS, and also preloaded on smartphones, including Samsung, HTC, and Huawei. By the end of 2015, the app had a user base of more than 12 million worldwide. Readers have access to articles, videos and photos from over 1,650 high-profile media partners around the world, e.g. Reuters, Associated Press, BBC and AOL.
Already in the year of inception (2008) at the seed-stage Creathor Venture became the sole investor in News Republic (www.news-republic.com), which was founded by CEO Gilles Raymond. Since then Creathor Venture actively supported the company on its way to become an international market leader for mobile news services: Creathor advised News Republic regarding its internationalization, customer-acquisition as well as its product strategy and adaptations of the general business-concept.
Cédric Köhler, Managing Partner of Creathor: “From the beginning we believed in the quality of the management of News Republic and we were impressed by the capability of the company to modify or even change existing business-concepts necessary due to market-dynamics and the ability of the management to execute this in an impressive and highly capital-efficient manner.”
After four years of successful growth and further growth financing rounds all financed by Creathor, additional well-known VC-Companies, namely XANGE and a year later Intel Capital, joined the company.
Gilles Raymond, News Republic Founder and CEO: “Creathor Venture seeded News Republic eight years ago. They have been actively supporting us consistently especially during difficult times. Their commitment and reactivity were a major contribution to News Republic. On top, they opened doors to top corporate partners all over Europe.”
Dr. Gert Köhler, Founder and Managing Partner of Creathor: “We are very happy with the exit of News Republic. It is another great example for the success of our proven investment-strategy: Investing as the lead-investor in a very early stage in European companies with the potential to become a world-wide leader in their specific market, supporting them actively over several financing-rounds as lead-investor and exiting them internationally. As we had invested only a few million Euros in News Republic and at the time of exit still held more than 30% of the company this also created an excellent return to our fund-investors.”