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Big Worldwide Announces Successful First Round Financing
Global travel, technology and media company funds further expansion
Big Worldwide Ltd (www.big-worldwide.com), the hotel representation, media, digital marketing agency and events business, has announced the successful conclusion of its recent capital raise of approximately £1.25m.
The financing, which included the sale of common stock, new mezzanine financing and revised and expanded bank debt facilities, will provide capital to continue Big Worldwide’s rapid international expansion and technology initiatives and facilitate anticipated merger and acquisition activity.
The financing was led by an affiliate of Gulf+Eastern Advisors, which also acted as financial advisor to Big Worldwide, and included investments by management and other third-parties.
Founded in 1997 to create a series of luxury hotel guides, Big Worldwide has grown into a multi-faceted business with operations in Europe, the United States and Asia.
“Despite the significant economic headwinds buffeting the travel and advertising sectors and the turmoil in the financial markets, I believe our successful capital raising is a vote of confidence in our diversified revenue model, our organic expansion initiatives and our financial prospects,†says Peter Gould, CEO and founder of Big Worldwide.
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Headquartered in London, Big Worldwide (http://www.big-worldwide.com) is a global travel, technology and media company with two distinct yet complementary divisions: Great Hotels Organisation (GHO: http://www.ghorg.com) and Big Media and Events (BM&E). GHO operates along two primary business lines: soft-brand marketing alliances for the independent hotel sector and a global hotel representation business. BM&E operates along three primary business lines: Big Publishing, a UK-based media company producing magazines and hotel directories; Big Agency, a digital marketing agency offering e-commerce solutions to the global hotel industry; and Events, which serves the hospitality industry through its highly successful Meeting and Incentive Forums.