Los Altos, CA – February 08, 2011 – MMV Financial (MMV), a preeminent specialty finance firm serving venture-backed companies in North America, announced today that it has extended debt financing to NileGuide, Inc. NileGuide.com was founded in 2006 to help travelers cut through the clutter of online travel information and better plan their trips through curated recommendations made by NileGuide local editors living around the world. The additional capital from MMV will support NileGuide.com’s position as the largest independent travel content network with a combined reach of over three million visitors per month.
“We’re committed to creating high-quality original travel content that marries local knowledge with expert editorial and this financing helps us accelerate that strategy,” said NileGuide CEO Josh Steinitz.
NileGuide.com has a proprietary global network of several hundred contributing editors, known as NileGuide Local Experts, who live in top travel destinations around the world. These Local Experts provide free itineraries and unique, “for-travelers-by-locals” insight into topics ranging from the top kid-friendly things to do in London to the best hotels in New York City. Additionally, through the Localyte acquisition, NileGuide.com provides visitors with the unique ability to receive answers to their travel questions from locals living in over 75,000 destinations around the world.
“We are very pleased to lend our support and partner with NileGuide,” said Bob Curley, Senior Vice President and Managing Director, MMV Financial. “NileGuide allows travelers to make informed decisions on where to go and what to do, even in the most exotic locations. We believe the company is shaping the future of travel inspiration and we have great confidence in the direction in which the NileGuide team is headed.”
About MMV Financial
MMV Financial empowers growth for venture-backed technology and life sciences companies across North America through creative debt solutions. We provide quick and efficient access to additional capital with limited dilution. Our goal is to help companies achieve valuation inflection points, liquidity events and/or operational cash flow breakeven with flexible, cost-effective financing. MMV is backed by top U.S. and Canadian private equity firms and financial institutions including Wells Fargo Company, HSBC Bank Canada, Caisse de dépôt et placement du Québec, CCP Equity Partners, Fonds de Solidarité des Travailleurs du Québec and ROI Capital. For more information, please visit www.mmvf.com.
NileGuide.com offers unique, “by-locals-for-travelers” recommendations and free itineraries covering what to see and do, as well as where to stay and eat, in thousands of popular travel destinations. These recommendations and original itineraries are created by over 150 NileGuide editors, or “Local Experts”, spanning the globe. NileGuide.com further provides travelers with the ability to ask questions and get answers from over 75,000 locals around the world. For more information, visit NileGuide’s Press Room.
Robert A. Curley, Jr.
Senior Vice President & Managing Director
Marketing Manager & Media Contact
650-636-9369 ext. 106