News Republic, a portfolio-company of Creathor Venture, successfully sold to Cheetah Mobile Inc. (NYSE: CMCM)
News Republic is an international mobile company focusing on changing the news ecosystem and the way people interact with the world around them. Being a worldwide leading news media group, News Republic publishes 50,000 non-truncated fully licensed news articles, photos and videos per day. The company with headquarters in Bordeaux and San Francisco publishes the news in 37 languages and 40 distinct country editions. The News Republic app is available on Android and iOS, and also preloaded on smartphones, including Samsung, HTC, and Huawei. By the end of 2015, the app had a user base of more than 12 million worldwide. Readers have access to articles, videos and photos from over 1,650 high-profile media partners around the world, e.g. Reuters, Associated Press, BBC and AOL.
Already in the year of inception (2008) at the seed-stage Creathor Venture became the sole investor in News Republic (www.news-republic.com), which was founded by CEO Gilles Raymond. Since then Creathor Venture actively supported the company on its way to become an international market leader for mobile news services: Creathor advised News Republic regarding its internationalization, customer-acquisition as well as its product strategy and adaptations of the general business-concept.
Cédric Köhler, Managing Partner of Creathor: “From the beginning we believed in the quality of the management of News Republic and we were impressed by the capability of the company to modify or even change existing business-concepts necessary due to market-dynamics and the ability of the management to execute this in an impressive and highly capital-efficient manner.”
After four years of successful growth and further growth financing rounds all financed by Creathor, additional well-known VC-Companies, namely XANGE and a year later Intel Capital, joined the company.
Gilles Raymond, News Republic Founder and CEO: “Creathor Venture seeded News Republic eight years ago. They have been actively supporting us consistently especially during difficult times. Their commitment and reactivity were a major contribution to News Republic. On top, they opened doors to top corporate partners all over Europe.”
Dr. Gert Köhler, Founder and Managing Partner of Creathor: “We are very happy with the exit of News Republic. It is another great example for the success of our proven investment-strategy: Investing as the lead-investor in a very early stage in European companies with the potential to become a world-wide leader in their specific market, supporting them actively over several financing-rounds as lead-investor and exiting them internationally. As we had invested only a few million Euros in News Republic and at the time of exit still held more than 30% of the company this also created an excellent return to our fund-investors.”
About News Republic
News Republic is a leading personalized mobile news service provider. News Republic believes that news is connective tissue for humanity that can and does make a difference. Their team works to collect a variety of stories and perspectives from high-profile news content providers, and then deliver customizable and personalized news services to its users by matching the right news content with the right users. So user news experience is as unique as they are. News Republic monetizes its mobile traffic through ads displayed within the news content.
Headquartered in Bordeaux and San Francisco, News Republic also has subsidiaries in Hong Kong and Mainland China.
About Cheetah Mobile Inc.
Cheetah Mobile is a leading mobile internet company. It aims to provide the best apps for mobile users worldwide, while building a leading global mobile ad platform for advertisers. Cheetah Mobile had approximately 651 million global mobile monthly active users in March 2016. Its mission critical applications, including Clean Master, CM Security, Battery Doctor and Duba Anti-virus, help make the internet and mobile experience speedier, simpler, and safer for users worldwide. The Company also provides multiple user traffic entry points and global content promotional channels capable of delivering targeted content to hundreds of millions of users. Its customers include direct advertisers and mobile advertising networks through which advertisers place their advertisements.
Creathor Venture Management GmbH
As a leading pan-European Venture Capital firm, Creathor Venture invests in technology-oriented companies and entrepreneurs. Creathor Venture focuses on Mobile, Digital Media, Cloud Technology, Internet of Things, Sharing Economy, Fintech, Life Science and E-Health. Regional focus is on Germany, Switzerland, Austria, France and Nordics. The management team of Creathor Venture consists of the CEO Dr. Gert Köhler, Karlheinz Schmelig, Cédric Köhler and Dr. Aristotelis Nastos. The team members have been investing successfully in the early-stage venture capital business for 30 years. During that time, they have built more than 200 technology companies successfully, conducted more than 20 international IPOs and have achieved exceptional returns for fund investors and the financed entrepreneurs in the past, all in the position as lead investor. The current portfolio of more than 35 companies is actively supported in development, growth and internationalization by a team of 17 staff. Creathor Venture manages funds of more than EUR 180 million and holds offices in Bad Homburg, near Munich, in Cologne, in Zurich and in Stockholm. The investors of the current fund include the European Union, through which the fund receives funding from the "Competitiveness and Innovation Framework Programme" (CIP), and the "ERP EIF fund of funds" and the LfA - Gesellschaft für Vermögensverwaltung GmbH, both facilities of the European Investment Fund ("EIF"), fund of funds, family offices and entrepreneurs. As the largest investor in Creathor the management underlines its entrepreneurial orientation.