Great Hill Partners Announces Minority Investment in Gorilla Nation
Boston, MA -- May 18, 2007 -- Great Hill Partners announced today its investment in Gorilla Nation (www.gorillanation.com), the world's largest online ad rep firm. GHP invested over $50 million for a significant minority stake in the business. This represents Gorilla Nation's first round of financing since its start in 2001 by founders Aaron Broder and Brian Fitzgerald.
In addition to operating the world's largest online advertising rep business, Gorilla Nation also operates in several different business units, including advertising technology development, online marketing services and web content publishing. GN plans on using the growth capital to develop new online ad technologies and products, broaden its marketing services offerings, aggressively pursue international expansion, and acquire companies to grow its various business units.
"While we've had many opportunities for funding, we selected Great Hill Partners as they demonstrated a unique and comprehensive understanding of the online content and marketing services industries," stated Brian Fitzgerald, company Co-founder and President. "We are excited to continue to develop and expand the online ad rep model we've pioneered in what we feel is a fast growing market with tremendous opportunity. Independent web publishers need a voice and online marketers need an efficient, trustworthy partner to place branded display advertising across quality websites."
"Over the past several years, we were able to achieve a leadership position in a highly competitive industry entirely on our own, with no outside funding. This capital infusion will allow us to aggressively pursue our business model both here and abroad," added Aaron Broder, GN Co-founder and CEO. "We've proven the value of the rep firm alternative to automated ad networks, and will continue to build upon this as a platform for new services. We'd also like to thank all of our advertisers, publishers and employees who helped us get this far, this fast."
Michael Kumin, Partner at Great Hill commented, "Gorilla Nation represents an exciting opportunity to capitalize on the favorable trends in the interactive advertising industry. The company has built a unique asset that provides a valuable service to advertisers, agencies and web publishers. We are excited to partner with management to help the company meet its goals."
Gorilla Nation Media was represented in the transaction by The Jordan, Edmiston Group, Inc., a New York City based investment bank that specializes in the media and information industries.
About Gorilla Nation Media, LLC
Gorilla Nation is the world's largest online ad sales rep firm. The company exclusively represents over 500 leading web publishers, and sells integrated media and promotional programs to Fortune 500 brand advertisers. Working closely with its web publisher partners, GN's expertise within select vertical markets provides advertising clients the ability to build high impact, integrated, rich media programs across one or more properties to deliver superior audience reach. The company is committed to delivering exceptional customer service, optimization and execution of creative media and promotional programs. Founded in 2001, Gorilla Nation is headquartered in Los Angeles with offices in New York, Chicago, and Toronto. For more information, visit www.gorillanation.com.
About Great Hill Partners
Great Hill Partners is a private equity firm that manages over $1.5 billion in capital and focuses on investing in growth companies operating in the business and consumer services, media, internet services, transaction processing and software industries. Great Hill Equity Partners III, L.P., is targeting investments of $50 million to $100 million. For more information, visit www.greathillpartners.com.