On March 6, 2008, Livbookings announced an investment deal where the company received $13.04 million in funding from Balderton Capital, a European venture capital firm. Livbookings’ most recent business deal was announced on March 6, 2008.
Through this business deal, Livbookings received an investment worth $13.04 million from Balderton Capital, the renowned European venture capital firm.
Company Profile of Livbookings
Established in 2001, Livbookings is a significant provider of real-time restaurant booking services. Since its establishment, it has offered different reservation management solutions.
Currently, there are almost 17,000 restaurants in the Livbookings Network. Using Livbookings services, customers are able to make reservations through the Internet. By providing this Internet booking service, Livbookings has secured business relations with 500 independent booking partners.
Details of the Deal
Through this investment deal, Livbookings received a huge funding of $13.04 million. The company intended to use these funds to execute its growth plans for Europe. Livbookings also planned to utilize the funds for technological upgrades and for further development of their infrastructure facilities.
Livbookings is constantly looking to expand its network, and to achieve this expansion it must create strategic partnerships with high profile websites. After the recent investment deal, Livbookings could use the received funds to achieve the expansion plans of the company.
Niklas Eklund, CEO of Livbookings, stated, in regards to this investment deal, that Livbookings would be able to extend its network and its customer base. On the other hand, Johan Brenner, Partner of Balderton Capital, said that, because Livbookings brings together restaurants, booking agents and customers, it plays a vital role in the restaurant sector; and, after the investment deal, Livbookings would be able to further extend its business across Europe.
It can be mentioned here, that, in this investment deal, EOC Partners LLP, served as Livbookings’ financial advisers