ApnaCircle's Parent Viadeo Raises $32M In Series D Round
Viadeo, a professional social network that operates in India under the ApnaCircle brand, has raised $32 million in a series D round from existing investors and new investors that include French Sovereign Wealth Fund, Fonds StratÃ©gique d'Investissement, Idinvest and Ventech, Allianz, Jefferies and Middle Eastern private funds. The new investment will be used to accelerate growth in Europe, China and other emerging markets such as India (with its local brand ApnaCircle), Latin America, Russia, and Africa.
Jefferies acted as exclusive financial advisor to Viadeo for the transaction while Paul Hastings and De Gaulle Fleurance acted as legal advisors.
Viadeo is the world's second largest professional social network with over 45 million members worldwide. The Viadeo Group comprises of the brands Viadeo, Tianji and ApnaCircle. ApnaCircle is a local professional network in India that serves a younger demographic with an average age ranging 25-30.
Dan Serfaty, CEO, Viadeo said, "We have always been laser-focused on our 'multi-local' approach, which goes beyond simple translation and focuses on catering to, and understanding the business and cultural needs of each market. This approach has awarded us tremendous growth and success in both European and emerging markets."
The company is head-quartered in Paris and has offices in India (New Delhi), UK (London), US (San Francisco), Spain (Madrid and Barcelona), Italy (Milan), Russia (Moscow), China (Beijing), Mexico (Mexico City) and Senegal (Dakar). It had started making profits in September 2009.