Breaking news
06.09.11 Vorwerk Ventures invests in online shopping club pauldirekt GmbH
Vorwerk Direct Selling Ventures, the corporate venture capital arm of the Vorwerk Group, is linking up with CFP Corporate Finance Partners to invest a mid-seven-figure sum in pauldirekt GmbH (http://www.pauldirekt.de), an online shopping club for electronics, sport and fashion. With Vorwerk Ventures and CFP as new shareholders, the company is aiming to consistently continue and further accelerate its growth course.
The Internet platform pauldirekt.de was launched in November 2008 and is one of the leading online shopping clubs in Germany, with more than 1.3 million members. Men in particular are very familiar with the pauldirekt brand and use the platform to purchase electronics, fashion and sports products at bargain prices.
“Our members are exclusively offered brand products with up to 80% discounts. Each offer lasts a few days and there are new offers daily. pauldirekt membership is free of charge and there is no obligation to buy. We email our members with our new offers on the morning they become available”, explained Stefan Seebauer, CEO of pauldirekt GmbH.
Norbert Muschong and Dirk Meurer, the two managing directors of Vorwerk Direct Selling Ventures GmbH, spoke about the intent of the new partnership: “The fresh capital will enable pauldirekt to significantly increase membership, further accelerating its growth. We aim to work together to fully utilise the enormous potential of pauldirekt and achieve the best added value for our investment.”
Patrick Bosch, CEO of pauldirekt GmbH: “We have acquired two superb partners in Vorwerk Ventures and CFP. Their well-founded know-how and networks will help us significantly strengthen the market position of pauldirekt. Vorwerk Ventures is an established, financially strong investment partner for young innovative companies, boasting a direct channel of distribution to customers, while CFP has a unique network in the e-commerce sector.”
The transaction has been approved by the Federal Cartel Office.
For further information please contact:
Vorwerk Direct Selling Ventures GmbH
Monica Titos Fernandez
Mühlenweg 17- 37
D-42270 Wuppertal
Germany
Phone: +49 202 564 1701
Fax: +49 202 564 1708
E-Mail: monica.titos@vorwerk.de
pauldirekt GmbH
Patrick Bosch Hofmannstraße
81379 München
Germany
Phone/Fax: +49 188 09 064 065
E-Mail: presse@pauldirekt.de
Homepage: http://www.pauldirekt.de
About Vorwerk Direct Selling Ventures GmbH:
Vorwerk Direct Selling Ventures is an independent investment entity within the Vorwerk Group. The focus of investment is on fast growing companies with a direct-to-consumer business model. The corporate venture capital company invests worldwide and holds stakes in companies from Germany, Austria and the USA. Its portfolio includes industry-leading businesses such as Dinner-for-Dogs, Enjo, meinauto.de, Neato Robotics, Ringana, Stowa and stylefruits.de.
About venturecapital.de powered by CFP & Founders:
Growth Equity for Technology Businesses - powered by CFP & Founders Investments venturecapital.de is the co-investment vehicle of Corporate Finance Partners and is a leading growth equity investment firm with a clear focus on technology (software, internet, e-commerce, mobile and business services) companies. Our main purpose is to build and develop successful growth companies. By partnering with entrepreneurs and management teams venturecapital.de delivers true value beyond financing and will work with portfolio companies to accelerate growth.
We look for companies, that have a proven business model and through a strong value proposition address large markets and deliver real value to their customers be it consumers or enterprises.
venturecapital.de is funded by 160 European entrepreneurs, founders and industry veterans who constitute one of the strongest and most value adding business networks in Europe with an excellent platform for an exchange of expertise and know-how between investors, the fund and its portfolio companies.
About pauldirekt GmbH:
pauldirekt is one of the leading Online Shopping-Clubs in Germany. Founded in 2008, pauldirekt today has more than 1.3 million members, who can choose out of a range of daily exciting products at a preferential price, the „paul-price‟. pauldirekt offers quality brand-name products in electronics and lifestyle products at greatly reduced prices. Awarded with the S@fer-Shopping seal from German TÜV, pauldirekt is able to realize these prices and to pass them on to their members by buying large batches and by entering successful partnerships with manufacturers.
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