Avidbank Corporate Finance Provides $3.5 Million Term Loan to Horoscope.com Inc.
Avidbank Corporate Finance Provides $3.5 Million Term Loan to Horoscope.com Inc.
PALO ALTO, Calif.--(BUSINESS WIRE)-- Avidbank Corporate Finance, a Division of Avidbank, has provided Horoscope.com Inc. with a $3.5 million term loan. The proceeds of this loan will be used to repurchase shares as the company embarks on its growth strategy.
Based in San Francisco, Horoscope.com Inc. offers an extensive selection of free daily, weekly and monthly readings to its ever-growing audience of over 2.7 million monthly unique visitors. Horoscope.com's offerings include multiple topics such as general sun sign horoscopes, Love, Career, Money, Teen, and Chinese Astrology horoscopes, as well as a variety of Tarot readings, fun games, and online applications. In addition to www.horoscope.com the Company hosts two other successful websites: www.astrocenter.com and www.psychiccenter.com.
"Horoscope.com Inc. is pleased to have established a strong financial relationship with Avidbank. They understand the key metrics of our business as well as our vision," stated Eric Bonjour, Horoscope.com Inc. CEO. "This financing allows us to execute our business strategy and to adjust it in real time while facing the constant technological innovations. We have been greatly impressed by the quality and the professionalism of the Avidbank team who completed the deal quickly."
"Avidbank is delighted to partner with Horoscope.com Inc. as they continue to build a premier marketing platform," said Jon Krogstad, Senior Vice President of Avidbank Corporate Finance. "We support the Horoscope.com Inc. management team's long-term vision of this network and the value it provides to its members."
"We are pleased to be able to assist Horoscope.com Inc. with their expansion," added Avidbank Corporate Finance Executive Vice President and Division Manager, Scott Chamberlin. "They have a proven track record and an intelligent plan for increasing their presence in this rapidly growing market."
About Avidbank
Our goal at Avidbank is to advance our clients' success by offering innovative financial solutions and service. Our experienced people provide a unique and individualized banking experience based on mutual effort, ingenuity and trust, creating long-term banking relationships. Avidbank specializes in the following markets: commercial and industrial, corporate finance, technology and asset-based lending, real estate construction, commercial real estate lending and real estate bridge financing.
Avidbank
Steve Leen, 650-843-2204
Chief Financial Officer
www.avidbank.com
KEYWORDS: United States North America California
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The article Avidbank Corporate Finance Provides $3.5 Million Term Loan to Horoscope.com Inc. originally appeared on Fool.com.
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