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Daniela von Wedel
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Earlybird Venture Capital agrees to sell dooyoo.de
Providing an enormous number of registered products with test reviews written by a very lively online community, dooyoo serves as a popular shopping guide on a pan European level .
In 1999, Earlybird identified dooyoo.de. The initial institutional early-stage financing round was funded by Earlybird and 3i Deutschland in December 1999. A second financing round in May 2000 added CNET. This was followed by a third financing round in May 2001.
Dr. Hendrik Brandis, Managing Partner at Earlybird and the investors' representative on the Board of dooyoo.de, comments the forthcoming entry of LeGuide.com: "We are satisfied to see that dooyoo.de was able to build one of the leading pan-European content-based e- commerce portals. This transaction reflects Earlybird's approach of identifying and developing German and European technology companies and adding value to their international growth. We are very pleased to sign with LeGuide.com, a leading European shopping guide and a perfect partner to develop the dooyoo success story."
Lutz Röllig, CEO of dooyoo AG, comments on the successful and rewarding relationship with dooyoo's first investor: "The integration of our business into LeGuide.com will help to further expand the use of our know how to successfully combine, on the one hand, the shopping guide expertise and, on the other hand, the consumer reviews and community skills. Earlybird coached us through all the years to implement successfully our business strategy and supported us in the next important step: the sale to LeGuide.com."
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