The National Post reported this morning that Edmonton's Nexopia.com has secured a multi-million dollar investment from Burda Digital Ventures, the venture capital arm of Hubert Burda Media, one of Germany’s largest media companies.
An active investor in digital media businesses, Burda Digital Ventures boasts over 30 portfolio companies in the areas of digital commerce, platforms, games and entertainment, as well as wireless communications.
Nexopia is #1 on Techvibes Alberta Start-up Index for January 2008. In just four short years Nexopia.com has grown from an ambitious networking utility run from the basement of now 23 year-old founder Timo Ewalds to Canada’s largest youth oriented social networking platform. With over 1.2 million registered members and over a billion pages served per month, Nexopia reaches 70% of teenagers and young adults in Western Canada.
The funding from Burda will provide Nexopia with more resources to execute signifigant new product development and expand its reach across Canada and the US. Stepping into the role of new CEO for Nexopia is Boris Wertz, who was previously Chief Operating Officer of AbeBooks.com, the world’s largest online marketplace for books and another Canadian Internet success story.
For 23 year old Timo Ewalds, eager to renew his focus as chief product strategist, the investment presents an exciting opportunity for his company to grow.: “Our vision for Nexopia has always been to grow into North America’s largest social network for youth and now, with the support of Burda Digital Ventures and an experienced Internet executive at the helm, we can finally take Nexopia to the next level and make that vision a reality.”
Disclosure: Boris Wertz is a Director of Techvibes Media Inc.
Photo: Ed Kaisar, CanWest News Service