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WorthPoint Closes New Equity Round of $3.6 Million News-Antiques



 
WorthPoint Closes New Equity Round of $3.6 Million   News-Antiques

 

News-Antique.com - Dec 14,2010 - ATLANTA, Dec. 14, 2010 – WorthPoint®, the world’s leading resource for valuation and associated services for art, antiques
and collectibles, today announced it closed a new equity investment
round of $3.6 million. In addition, the company will expand credit
capacity with its current bank by up to $1 million. Participants in the
recent equity-funding round include existing and new angel investors, as
well as principal partners from Cheviot (http://www.cheviot.co.uk), a
private UK-based investment firm.

 

“We are delighted to have the confidence and support from our existing investors as well as partnership with Cheviot, who will help us substantially with new key initiatives,” said Will Seippel, Founder and
CEO of WorthPoint. “While we have reached profitability in our core
business, this investment enables us to make significant value additions
that will ensure our position as the market-leading resource for
collectible enthusiasts worldwide.”

The new funds will extend support for product additions already scheduled for 2011, including:

• Vastly expanded price guide (Worthopedia™) from 73 million items to
more than 100 million items -- aggregated from eBay®, leading auction
houses and virtual marketplaces
• Community forums providing both free and paid members with access to
expert opinions and debates regarding the most topical issues in the
world of collecting
• Native iPhone®/iPad® application enabling a full range of research and
valuation functions for users when attending auctions, trade shows,
estate sales and other remote locations

 

 

Read More:

http://news-antique.com/?id=795777&keys=antiques-collectibles-v...

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