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.
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, Shopping.com 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