NexTag sells majority stake for $830MM

June 8, 2007

It’s confirmed: We just got word that NexTag sold a 2/3 stake to Providence Equity Partners, a private equity firm for $830MM.

This values the company at $1.2 billion.

Om had a good writeup four days ago:

Nextag is said to be doing about $200 million in revenues, with a
lucrative mortgage and other lead generation business being the rocket
that is driving the company. Internet giants for example – have taken
out its peers – MySimon, PriceGrabber, and Shopzilla.

CONGRATULATIONS  to NexTag!  Lots of hard work went into building this business, and we’re proud at ChannelAdvisor to be a partner.

Written by Scott Hurff. scott.hurff (at) channeladvisor (dot) com