Batanga Raises $30M Investment in Series C Round

MIAMI--(BUSINESS WIRE)--Batanga, the leading media and entertainment company reaching New Generation Latinos based in Miami, Florida, announced today it has raised $30 million Series C financing. Tudor Ventures led the round and existing investor H.I.G. Ventures also participated. The funds will be used for the expansion of Batanga’s marketing efforts and the development of social media products and online content catering to the bicultural Latino consumer.

“I look forward to serving on Batanga’s board. Batanga’s competitive advantage lies in the quality of its content and its keen ability to speak to its growing audience. Batanga’s team of professionals knows the ever-growing Hispanic market like no other online media company”

“The Hispanic online marketplace is one of the fastest-growing segments in the US media market and Batanga is one of the fastest-growing companies in it. The Latino demographic trends are so powerful that we foresee strong growth for years to come and hence are very excited to add Tudor to our already strong institutional backing. Tudor shares our vision of the market and their involvement will enable us to invest heavily. This ensures we maintain a leadership position in the space and build the first true Latino online brand,” said Rafael Urbina, Chairman and CEO of Batanga.

In connection with this financing, Carmen Scarpa, a partner at Tudor Ventures, will join Batanga’s board of directors. “I look forward to serving on Batanga’s board. Batanga’s competitive advantage lies in the quality of its content and its keen ability to speak to its growing audience. Batanga’s team of professionals knows the ever-growing Hispanic market like no other online media company,” said Mr. Scarpa.

Since January 2007, Batanga has been aggressively building their marketing department with completion of staffing slated for August 2007. Making preparations for the expected market growth has been the focus that has pushed Batanga to drive quality content on what their audience seeks – music, social networking, and entertainment in a variety of platforms.

“There is no question Batanga has the combination of elements to position it as the leader in the Latino online entertainment sector. Their strong relationship with the music industry and their ability to provide innovative solutions for advertisers will keep them on the cutting-edge and promote accelerated growth,” said John Kim, managing director at H.I.G. Ventures.

Batanga’s leadership position stems from its unique synergy of attributes that speak directly to the New Generation Latino. This synergy produces the following:

Batanga deftly reaches Hispanics online regardless of language preference by offering content in English and Spanish.
Batanga.com welcomes 4.5 million+ unique visitors per month
Boasts an amazing growth rate of 217% over 18 months
Streams 90 million+ songs per month
Streams 10 million+ videos per month
100,000 myBatanga members as of August 2007

“We had a tremendous amount of interest in this deal. Batanga has aggressively staked out an extremely attractive position in a fast growing and highly profitable market,” said Richard Wood, Vice President at Thomas Weisel Partners Group which advised Batanga on the financing. Brad Raymond, Richard Wood and Erik Zech lead the transaction on behalf of Thomas Weisel Partners Groups, Inc.

About Batanga

Batanga is the leading media and entertainment company reaching New Generation Latinos through a multiple platform approach - online entertainment destination (http://www.batanga.com), social networking, nationwide live events, and targeted Hispanic publications. Batanga boasts the largest inventory of streaming (video/audio) media featuring over 20 exclusive online Latin radio stations, more than 5,000 user-programmed radio stations, and thousands of on-demand videos. For more information on Batanga, please visit http://www.batanga.com or call 305-476-2974.

About Tudor Ventures

Tudor Ventures, established in 1996, is the venture capital and private equity arm of Tudor Investment Corporation, an internationally recognized, diversified investment management firm with total assets under management in excess of $20 billion. Tudor Ventures manages approximately $700 million in equity commitments and has invested over $400 million in 48 companies. Tudor Ventures invests in information technology and rapidly growing companies providing capital for expansion, acquisition and founder liquidity. For more information about Tudor Ventures, visit http://www.tudorventures.com.

About H.I.G. Ventures

H.I.G. Ventures partners with entrepreneurs to provide the capital, expertise and relationships necessary to build market-leading businesses. With over $550 million in dedicated venture and growth capital under management, the firm’s team invests nationally in early to growth-stage information technology, healthcare and service businesses. H.I.G. Ventures is the venture capital affiliate of H.I.G. Capital, a leading private equity investment firm with over $4 billion of capital under management. H.I.G. Ventures has offices in Atlanta and Miami. For more information, visit http://www.higventures.com.

About Thomas Weisel Partners Group, Inc.

Thomas Weisel Partners Group, Inc. is an investment bank, founded in 1998, focused principally on the growth sectors of the economy. Our business is managed as a single operating segment and we generate revenues from three principal sources: investment banking, brokerage and asset management. Our investment banking group is comprised of two disciplines: corporate finance and strategic advisory. Our brokerage group provides equity and convertible debt securities sales and trading services to institutional investors, and offers brokerage, advisory and cash management services to high-net-worth individuals and corporate clients.