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Greetz attracts 7 million Euro for further growth


Hoofddorp, 11 March 2009 - Greetz, the online personalised, printed and posted greeting card service has attracted new capital for further growth. ePlanet Ventures together with existing shareholder Prime Technology Ventures have jointly invested substantial new capital in the company. With this capital Greetz can strengthen its position in the Dutch market and realise its international ambition, to become the market leader in personalised, printed and posted greeting cards through the Internet.

Since 2004 Greetz has built a strong position in the Dutch greeting cards market. In the Netherlands, Greetz is market leader in the field of online personalised, printed and posted greeting cards, and with this additional capital, the company will be able to increase the familiarity of the brand. Greetz is also now active in France, Germany and the United Kingdom. The new funds will allow Greetz to expand and further strengthen its position in these markets.

Greetz has grown strongly in recent years. In 2008 Greetz sent more than 3.2 million greeting cards and acquired Kaartenhuis, the largest e-card site in the Netherlands. In 2008 this ensured that Greetz ranked third in the Dutch Deloitte “Technology fast 50”, a listing in which fast growing Dutch technology companies are mutually compared. Furthermore, the existing IT platform was renewed and its flexibility increased. Moreover, the management was strengthened and new activities started in the United Kingdom, France and Germany.

'We are proud to have succeeded to attract new funds to realise our growth ambition. Once again, our existing shareholder Prime Technology Ventures has expressed its trust in our company. Furthermore, we are pleased to welcome ePlanet Ventures, a leading international venture capital fund who previously backed such successes as Skype and Baidu. In these challenging economic times this is a strong vote of confidence in the Greetz model and this investment provides us with the financial power to invest and further roll out of our concept,” stated Johan van Vulpen, Greetz CEO.

Sake Bosch, Prime Technology Ventures founder and Managing Partner: “We fully support the plans the Greetz management has for the Netherlands and beyond. The Dutch business model is excellently suitable to be used outside the national borders. The estimates are that these international markets will prove to be an important contribution to the future turnover.”

Dennis Atkinson, ePlanet Ventures Managing Director: “The traditional market for greeting cards is enormous with healthy margins, yet the current ‘printing on demand’ market share is only approximately 1%. The expectations are that this market share will increase to more than 10% by 2012. In our view Greetz has a significant potential, which is why we look forward to be able to contribute to the future growth of this company.”

About Greetz

Greetz is the first online service where you can create and send personalised greeting cards. Greetz helps you to be attentive at and involved in those moments when you want to do some special for someone. The sender determines what the greeting card will look like. You can choose from a greeting card with your own photograph or select an illustration from the more than 3500 illustrations in our collection. Furthermore, you also decide the text and all other design aspects of the greeting card. Greetz guarantees that a card which was created before 15:00 hours will be sent to the recipient on that same day. This is how Greetz operated in recent years, and sent more than seven million greeting cards! Recently Greetz was awarded the prestigious Red Herring 100 Europe, as one of the most promising European technology companies. In 2008 Greetz also ranked third on the Deloite “Technology fast 50”, a listing in which fast growing Dutch technology companies are mutually compared. Greetz has its established offices in Hoofddorp, the Netherlands and currently has more than 25 employees. Greetz is certified as Thuiswinkel Waarborg (Dutch certificate for reliable home shopping service). Greetz® is a registered trademark. www.greetz.nl

About Prime Technology Ventures (PTV)

Prime Technology Ventures (PTV) is a leading early stage venture capital firm. It focuses on investing in European companies in the information technology and related industries. PTV leverages its capital, experience and contacts to actively guide them into global category leaders. PTV has invested in companies in the Benelux countries, the United Kingdom, Finland and Sweden. From its offices in Amsterdam and Cambridge the independent partnership PTV manages almost 300 million Euro in committed capital.

About ePlanet Ventures

ePlanet Ventures is a leading global venture capital firm headquartered in Silicon Valley, with international offices in London, New Delhi, Bangalore, Shanghai, and Beijing, as well as a presence in Hong Kong, Seoul and Tokyo. ePlanet Ventures has funded over 80 innovative high-growth companies world-wide, including landmark deals Baidu (NASDAQ: BIDU - News), Skype (sold to eBay for approx. US$3B in 2005), and Focus Media (NASDAQ: FMCN - News). ePlanet is one of the leaders in promoting the cross-border migration of technological innovation, business models and entrepreneurship. The Firm has made investments in sectors such as the Internet (consumer Internet, Internet services and applications), wireless communications and applications, VoIP and other broadband services, entertainment, semiconductor design, life sciences and other emerging services sectors. ePlanet also seeks to make investments in traditional, established industries where business-model improvements have the power to create category-dominant companies in the world's fastest growing markets.

- End -

*** Note for the editors, not for publication ***

For further information, please contact:

Greetz

Johan van Vulpen, Tel: 023 - 566 68 10, E-mail: johan.van.vulpen@Greetz.com

Prime Technology Ventures

Marloes Drost, Tel: 06 15090512, E-mail: m.drost@marlotcommunicatie.nl


Publisher Contact Information:

Greetz
+31 23 - 566 68 10
johan.van.vulpen@Greetz.com

Company profile of Prime Ventures
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