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Wazap! strengthened by second round financing of almost $8 million
Games search engine wins over more international investors


January 15, 2007 -- Wazap!, one of the leading games search engines worldwide, boasts an impressive success story that is now attracting the attention of international investors: the young company was recently able to chalk up investments of US$7.9 million in its second round of financing. Partech, a venture capital company active in Europe, the US and Israel, regards its participation in the German-Japanese startup as one of the most promising investments of the year. In the words of Partech partner Phillippe Collombel: “Wazap! is at the heart of Partech’s strategy: that is to find companies with potential for worldwide leadership and to help them in their internationalization.”

“Wazap! has the potential for worldwide market leadership”
The investors Partech and Wellington Partners were particularly impressed by the games search engine’s strong business model and consistent growth trend: “The clarity of Wazap!’s strategy and the attractiveness of the value proposition were key in our investment decision,” confirmed Partech’s Phillippe Collombel. Frank Böhnke, General Partner of European venture capital company Wellington Partners, which spearheaded the first round financing of almost $4 million, added his praise: “Wazap! was founded as an international company and its success in Asia and Europe confirms the strength of this global strategy.”

Wazap! intends to use the $7.9 million (almost €6 million) investment primarily to press on with its expansion into European and US markets. Following the search engine’s extremely successful launch in Japan in 2004, the company also entered the German and Chinese markets in 2006, meeting with an excellent response from users on each occasion. However, Wazap! founder and CEO, Andreas Rührig, wants to go further: “In the mid-term, we aim to become the world’s leading search engine in the gaming environment,” explains Rührig. “The latest financing round is, for us, an extremely important step along this path – and the involvement of Partech und Wellington Partners is a vote of confidence that makes us proud.”

Community power and strong management
According to Rührig, a certain amount of credit for this confidence must go to the proven expertise of his management team, which was also an influential factor for the capital providers’ involvement. According to Phillippe Collombel: “The Partech team is not only impressed by the founders’ qualities but also by the company’s ability to attract extremely talented managers and advisors.”

Wellington General Partner Frank Böhnke also cites this and the founders’ keen understanding of the growing gaming community as decisive success factors for the company: “Wazap! has a very good chance of becoming the leading destination site in the gaming space by strongly combining comprehensive search capabilities, extremely lively and relevant content and the commitment of the gaming community.”


Publisher Contact Information:

Wazap AG
+49 - (0)30 - 27 87 44 -27
sven.wedig@wazap.de

Company profile of Wazap AG
Past press releases of Wazap AG.

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