FOR IMMEDIATE RELEASE
Kinetic.PR, LLC for TCV
Tiny Prints Announces Strategic Investment from Summit Partners and Technology Crossover Ventures
Minority investment marks the first external round of funding to date
MOUNTAIN VIEW, CA, April 23, 2008 – Tiny Prints, Inc. (www.tinyprints.com), a leading online retailer of premium, personalized, social stationery, announced today that Summit Partners and Technology Crossover Ventures (TCV) have acquired a minority interest in the company. This investment marks the first external round of funding received to date for Tiny Prints.
Founded in 2004, Tiny Prints is a web-based company comprised of two social stationery brands, Tiny Prints and Wedding Paper Divas (www.weddingpaperdivas.com). Both brands offer premium, affordable stationery without foregoing the high-end customer experience found at stationery retailers. Rather than automating every step in the production process, Tiny Prints has developed groundbreaking technology that allows the company to deliver a personal, customer experience that consumers prefer. Since their inception, both Tiny Prints and Wedding Paper Divas have been recognized for their exclusive stationery designs that include holiday cards, birth announcements, and all other forms of wedding and lifestyle stationery.
Tiny Prints has been privately financed and the company has been profitable since its inception. The proceeds from the investment will be used to assist Tiny Prints with continued rapid growth, as well as with new strategic partnerships, marketing efforts and brand extensions.
"We've built a strong management team, developed high-quality products and acquired a loyal consumer base that have allowed us to build a significant market presence and profitably," said Ed Han, Co-Founder of Tiny Prints. "Now, as we look for ways to expand our growth, Summit Partners and TCV will offer invaluable experience from the consumer products and Internet sectors that will lead us to further success."
"We have been extremely impressed by the outstanding experience Tiny Prints delivers to its customers," said Harrison Miller, a managing director with Summit Partners. "In every department of the company, Tiny Prints team members think about small and large improvements that can make the customer experience even better. Summit Partners is pleased to partner with a company so dedicated to delighting its customers and we look forward to helping the Tiny Prints team to continue innovating in the coming years."
"Tiny Prints is a phenomenal success story about three friends with a vision for using the Web to bring back the use of stationery for life's important events-along with the creativity and collaboration to turn that vision into a popular and profitable business," said Will Griffith, general partner with Technology Crossover Ventures. "TCV is excited to work with Tiny Prints as it enters the next phase of growth, expanding its reach and providing new ways for customers to celebrate the people and milestones in their lives."
As minority investors, Summit Partners and TCV will maintain Board seats, and current Tiny Prints management will continue to operate the company. Terms of the transaction were not disclosed.
Cascadia Capital acted as financial advisor to Tiny Prints.
###About Tiny Prints, Inc.
Founded in 2004, Tiny Prints, Inc. is a web-based company comprised of two brands offering premium, personalized, social stationery, Tiny Prints and Wedding Paper Divas. Tiny Prints and Wedding Paper Divas provide simple, modern and unique stationery from birth announcements and baby shower invitations to party invitations and thank you cards to wedding stationery. Offering exclusive designs from the nation's top designers, easy card personalization, a powerful preview engine and top-notch customer service, their designs have been lauded by numerous television networks, publications and celebrity parents. For more information, visit www.tinyprints.com or www.weddingpaperdivas.comAbout Summit Partners
Summit Partners (www.summitpartners.com) is a private equity and venture capital firm that provides growth financing to exceptional companies. Founded in 1984, Summit has raised nearly $9 billion in capital and has provided equity, recapitalization, and management buyout financing to almost 300 growing companies across a range of industries. Of these companies, nearly 125 have completed public offerings and more than 110 have been acquired through strategic mergers and sales. Summit Partners has offices in Boston, Palo Alto, and London.
Summit Partners seeks to work with outstanding management teams that have self-financed their companies to profitability and market leadership. Notable investments include McAfee, Hyperion Solutions, E-Tek Dynamics, optionsXpress, Jamba!, Postini, and Vente-Privee.com.About TCV
Technology Crossover Ventures (TCV), founded in 1995, is a leading provider of growth capital to technology companies, providing funds to later-stage private and public companies. With $7.7 billion in capital under management, TCV has made growth equity and recapitalization investments in over 160 companies leading to 45 initial public offerings and more than 30 strategic sales or mergers. Capital investments range from $20 million to over $200 million.
TCV employs a crossover investment model, which combines venture capital with public market investing and enables TCV to continue to invest in its portfolio companies at the IPO and beyond. Representative investments include Altiris, eHarmony, Expedia, Fandango, Liquidnet, Netflix, RealNetworks, Redback Networks, Solect Technology, TechTarget, Travelport, Webroot, and Zillow. TCV has 10 partners and is headquartered in Palo Alto, California. For more information about TCV, visit www.tcv.com.
The business of Summit Partners in the UK is regulated by the Financial Services Authority. Summit Partners Limited is registered in England and Wales. The registered number is 4141197, and the registered office is located at 20-22 Bedford Row in London, WC1R 4JS, UK. In the US, Summit Partners operates as an SEC-registered investment advisor. This document is intended solely to provide information regarding Summit Partners' potential financing capabilities for prospective portfolio companies.