Martingale raises Angel Round Martingale, the leading provider of 2nd Generation Online Collectible Marketplaces raises substantial angel funding from a number of heavy hitters.
News-Antique.com - Jan 25,2010 - Investors include founders or early backers of a number of successful eCommerce businesses such as
• Aucland (the first French online auction site sold to Europ@web)
• DeRemate (the 2nd largest South American online auction site)
• Maktoob (the largest Arab online community sold to Yahoo!)
• Mercado Libre (the largest South American online auction site)
• Molotok (the largest Russian online auction site sold last year to Naspers)
• OLX (international classified site)
• QXL (the largest Central and Eastern European online auction site sold to Naspers)
• Souq (the largest Arab online auction site)
The funding will be used to accelerate growth of Toy Collector, Martingale's first marketplace, and to close an agreed acquisition.
Fabrice Grinda, Co-CEO, OLX says "Martingale has built the right solution for collectors’ markets, combining social media with collection management and trading abilities, I am looking forward to see the company succeed in the $9 billion vintage and collectible toy market as well as expanding into other collectible markets."
Robert Dighero, Chairman of Martingale says "We are excited about having backing from a group bringing such a wealth of experience in online marketplaces as well the opportunity to leverage their networks in Asia, Europe, North and South America."
Martingale Internet Technologies believes that the dominance eBay has enjoyed in recent years is giving way to web 2.0 specialist auction sites with strong community elements. Over the last three years, its team has built category killer software to specifically target large communities of collectors allowing it to compete with eBay in a number of their markets. Martingale has launched its first community, Toy Collector, with the following features:
- Niche specific blogs, clubs, directories, competitions, events, forums, friending system, galleries and videos
- A Wiki-based catalogue to include every toy ever produced
- Context engine allowing all content to be filtered according to personal preference
- A Collection Management capability that links press releases and buy/sell events to track the current value of individual collectables together with a collector’s entire portfolio.
For more information please
- go to www.themartingale.com or www.ToyCollector.com
- or contact Christian Braun on christian.braun@themartingale.com
- or call +44 (20) 7348 3413
