Mangrove, the first institutional investor in Skype, has just invested $4 million in Zlio
Many of you have wondered what last night’s mysterious announcement was going to be – well, Techcrunch US have just announced it!
Ten months after David Levy, Jean Guetta and I launched Zlio (the “create your own shop” version), we’re proud to announce that we have taken Mangrove Capital Partners on board. Mangrove is based in the Luxemburg and is famous for the sale of Skype to eBay for $2.6 billion in 2005.
Mark Tluszcz, Managing Partner of Mangrove and previous member of Skype’s Managing Board, has now joined ours. According to the 2007 Forbes Medias list, he’s the 20th most talented high-tech venture capitalist in the world!
We’re extremely proud to now be working with the Mangrove team – from what we’ve seen thus far, it feels like having real partners working with us.
We had several other offers in this round (some of them rather larger, financially, than Mangrove’s) but no other VC in the Europe, the US or in Israel displayed as much ambition, international vision and ease of communication as did the Mangrove team.
I hope to be able to share my experiences of this fundraising round with you all in a few years… It really was fascinating, and gave me a real insight into what makes different VCs around the world tick.
We are now therefore in regular contact with Mark and David Waroquier of Mangrove, whose kindness and expertise have so far done nothing but confirm that the choice we made was the right one!
Our aim: to build up the largest online sales force in the world!
100 000 stores… Over 2.5 million unique visitors a month (of which 2 million on our stores alone)… Some of our members earning up to $750 every month… Zlio is a tremendous success. But a rather version 1.0 success at the moment… We’re a company that is planning to grow quickly, but surely!
We’re already drawing the attention of some of the world’s largest companies like Yahoo, eBay, Google and Microsoft – they’re well up to date with what’s happening at Zlio. In fact, we’ve already signed some important partnerships with some of them – keep watching for announcements we’re about to make in the near future.
What’s this going to change for Zlio, you might ask?
1. We’ve now started to consolidate our team with solid, experienced members. We are, as it happens, currently recruiting developers in Nantes (France) and in Israel, as well as an US Vice President of Operations.
2. We’re planning to use a large proportion of these funds for R&D. We only have one aim: to add even more features to Zlio, and only for one reason: to allow you to make even more money
A beta service is in fact currently being tested (beta testers – please remain quiet!
). It has already allowed some of you to increase your revenue per visitor. We’re also planning to launch some other very innovative features before the end of the year – so far unique worldwide! You’ve also sent us hundreds of suggestions as to how to improve our service – we value them and we’re looking into them. This investment will allow us to start implementing them effectively.
3. We are launching Zlio in several European countries (the UK originally and then Germany at the start of next year). A marketing campaign has now begun in the US.
4. We’re in the progress of signing important partnerships all over the world – stay tuned for details!
In any case, I would also like to use this opportunity express my sincere thanks and gratitude to all of you for the trust you have placed in us since the launch of Zlio US – our work has only begun. Zlio is a very exciting adventure, and we have a fantastic team… but we still have lots of work ahead!
If you have any questions or would like any other details, I’d be delighted! Just leave a comment on this post, and I’ll get back to you.
Jeremie Berrebi
President/CEO
Zlio.com