Sanoma Corporation, Press Release, 27 September 2012 at 15:00 CET+1
Newly established SanomaVentures is an international venturing initiative of the European media and learning company Sanoma Group. It is set up to support and intensify co-operation with innovative start-up companies that operate in digital information, entertainment and education.
“As part of the transformation process Sanoma is going through, we have to find ways to make our current business more efficient - but also to search for new growth. In both our focus areas, media and learning, the start-up scene is very dynamic, innovative and developing quickly. We can contribute to that with Sanoma’s strong market presence as well as our digital publishing expertise and distribution power”, Harri-Pekka Kaukonen, Sanoma President & CEO says.
SanomaVentures will focus on early stage investments in segments such as online consumer services, mobile and tablet-based services, TV & video, online advertising, e-commerce and e-learning. Typical investment is between EUR 100.000 and 500.000, consisting of a mix of capital and media exposure. In addition, Sanoma offers the companies extensive business expertise and access to its professional network. Partnerships provide Sanoma with shares of the start-up companies as well as hands-on technology, marketing and consumer insight from the new growth areas.
The first investment by SanomaVentures was made in an international luxury fashion auction website Vault79.com. Investment follows partnership with Grazia, Sanoma Media’s popular fashion glossy in the Netherlands.
“Vault79.com takes a new, dynamic approach to mining the potential of the high-growth e-commerce market for fashion. The experienced team, the results achieved during the start-up phase and the international potential make this an extremely interesting opportunity for SanomaVentures”, Herman Kienhuis, Investment Director at SanomaVentures reasons.
SanomaVentures, with offices in Amsterdam and Helsinki, is interested in hearing from interesting start-up companies. To submit a business plan, read more at http://www.sanomaventures.com/contact/
Additional information
Sanoma Group Communications, Hanna Johde, tel. +358 40 673 8977 or hanna.johde@sanoma.com
SanomaVentures, Herman Kienhuis, Investment Director, herman.kienhuis@sanomamedia.nl
Sanoma.com, www.sanomaventures.com, www.twitter.com/sanomaventures
Sanoma inspires, informs and connects. Sanoma is a leading European group with a focus on consumer media and learning. We bring information, experiences, education and entertainment to millions of people every day. We employ nearly 11,000 professionals in some 20 countries. In 2011, the Group’s restated net sales totalled EUR 2.4 billion. Sanoma shares are listed on the NASDAQ OMX Helsinki.