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LiveChat Software Completes Management Buy-Out

Tar Heel Capital finances buy-out transaction for cash flow positive LiveChat, founding team now owns majority stake

 
 
livechat
livechat
PRLog - Oct. 25, 2011 - LiveChat (www.livechatinc.com), a real-time live chat software tool for ecommerce sale and support, announced the completion of a management buy-out from its previous investors, Naspers. The management buy-out is backed by funding from Tar Heel Capital and gives the LiveChat founding team a 60% stake in the company.

Founded in 2002, LiveChat became cash flow positive in 2010. The company has quickly established itself as a leading provider of tools to help websites communicate with visitors. With unique chat invitation triggers and visitor behavior monitoring, LiveChat is the only chat solution on the market designed to help businesses make money, not just communicate.

LiveChat is available on the web, as well as multiple mobile platforms including Android, iOS, BlackBerry, and Windows OS. The company serves more than 1600 businesses of all sizes, including Linens 'N Things, ING, Adobe, Orange Telecom, Better Business Bureau, and Air Asia.

“With the backing of Naspers, we enjoyed significant growth and are in a strong position to take the business forward as an employee-owned company. We’re ramping up our goal to become the undisputed leader of support software for ecommerce and give every business the tools to communicate with website visitors,” said Mariusz Cieply, CEO of LiveChat.

LiveChat is a winner of the 2011 RECSS Awards (www.supportawards.org), which recognize excellence in customer support and service. LiveChat took the top spot in the Software/SaaS category, beating out Assistly, which was acquired by Salesforce.com for $50M in September 2011.

"By investing in LiveChat we took into account its excellent financial results and the potential for further development. We want to support LiveChat's expansion as we strongly believe in the great market potential of SaaS services for ecommerce", said Grzegorz Bielowicki, Managing Partner of Tar Heel Capital.

ABOUT LIVECHAT
LiveChat is a real-time, live-chat software tool that is helping ecommerce companies create a new sales channel with superior online support. LiveChat products are simple to use, integrate, and customize so companies can quickly start increasing sales, offering support, and monitoring website visitor behavior. Founded in 2002, LiveChat has over 1600 customers in more than 50 countries, serving businesses such as Linens 'N things, Adobe, ING, Orange Telecom, Better Business Bureau, and Air Asia. Learn more at www.livechatinc.com.

ABOUT TAR HEEL CAPITAL

Tar Heel Capital manages private equity funds, investing in companies to allow them to further develop, leading to institutional investment or IPO. The fund focuses on companies with large expansion capacity and projects with unique technology and knowledge. The Tar Heel Capital investments include, among others: FAM Capital Group SA, a logistics operator Apreo Logistics SA, a company engaged in the processing of waste from power plants for construction Greenbet Poland SA. The managing partner and founder of the fund is Grzegorz Bielowicki.

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ABOUT LIVECHAT
LiveChat is a real-time, live-chat software tool that is helping ecommerce companies create a new sales channel with superior online support. LiveChat products are simple to use, integrate, and customize so companies can quickly start increasing sales, offering support, and monitoring website visitor behavior. Founded in 2002, LiveChat has over 1600 customers in more than 50 countries, serving businesses such as Linens 'N things, Adobe, ING, Orange Telecom, Better Business Bureau, and Air Asia. Learn more at www.livechatinc.com.

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Contact Email:
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Source:Rsquared Communication
City/Town:San Francisco - California - United States
Industry:Software, Technology, Retail
Tags:funding, management buy out, financing, revenue, Profitability, Founding Team, saas, ecomm, Sales, support, live chat
Shortcut:prlog.org/11707140
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