KIRKLAND, Wash., Aug. 9, 2017 /PRNewswire/ -- Donuts Inc.,
the global leader in high-quality, top-level domains for promoting
and enhancing digital identity, today announced that it has closed
a $110 million credit facility led by
Silicon Valley Bank (a division of SVB Financial Group: Nasdaq:
SIVB), and with participation from Cadence
Bank, N.A., Comerica Bank, Pacific Western Bank, and Umpqua
Bank. This debt financing was oversubscribed. Donuts is using these
funds to complete its $213 million
merger with the Rightside Group, and for general corporate
purposes.
"We are delighted to partner with Silicon Valley Bank and are
gratified by the enthusiastic response from co-lenders," said
Donuts chief executive officer, Bruce
Jaffe. "SVB understands deeply our business and our industry
and did a terrific job in forming a syndicate of leading
institutions. This financing will help to fuel our growth, as we
focus on helping individuals and organizations to transform their
online branding capabilities."
"Donuts growth and opportunities are reflections of the emerging
category of new, top-level domains, its management team, portfolio
and its strategy," said Jayson
Davis, Director, Silicon Valley Bank. "We appreciate the
opportunity to have worked with the leadership team at Donuts, as
well as our banking partners, to enable the right financing at the
right time to help the company achieve its growth goals."
With its latest acquisition, Donuts now offers 238 new
high-quality, top-level domains, including .email,
.guru, .social, .business, .life,
.restaurant, and many more. Donuts domains provide extensive
variety to anyone wishing to enhance their brands online. With
recent investments in Netki and Geofrenzy, and the acquisition of
the Rightside Group, Donuts is leveraging its deep industry
expertise to identify and invest in emerging technologies that can
enhance the domain name system (DNS), expand the company's
portfolio of high-quality top-level domains, or otherwise
complement its business and growth strategy.
About Donuts Inc.
Donuts offers individuals and
organizations new ways to promote and enhance their digital
identities. Donuts manages the world's largest portfolio of
top-level domains and provides its registrar / reseller customers
with innovative services for the discovery, registration, usage and
monetization of high-quality domain names. A wholly-owned
subsidiary of Donuts, the registrar Name.com is one of the
most admired brands in the industry. Donuts' headquarters are in
Kirkland, WA; it has offices in
Denver, CO; Washington, DC; Dublin, Ireland and Beijing, China.
Contact:
Judith McGarry, Donuts
judith@donuts.email
415-971-2900
About Silicon Valley Bank, a division of SVB Financial
Group
For more than 30 years, Silicon Valley Bank (SVB) has
helped innovative companies and their investors move bold ideas
forward, fast. SVB provides targeted financial services and
expertise through its offices in innovation centers around the
world. With commercial, international and private banking services,
SVB helps address the unique needs of innovators. Learn more
at svb.com.
View original content with
multimedia:http://www.prnewswire.com/news-releases/donuts-closes-110-million-in-a-financing-led-by-silicon-valley-bank-300502356.html
SOURCE Donuts Inc.