Catcha.com gets fresh fund

Catcha.com gets fresh fund

SINGAPORE (AFX-ASIA): Catcha.com has received fresh investments from some of its existing shareholders, including Creative Technology Ltd and Oversea-Chinese Banking Corp, said Catcha.com chief executive officer Patrick Grove.

Other shareholders making investments include Arboc Investments, Axiom Investments, Imperial One, Wearnes & Walden and members of management, he said.

No financial details were provided.

Creative owns 6 percent of Catcha.com prior to the latest exercise.

The investment, which came "amidst a period of uncertainty in the industry", will allow Catcha.com to continue its aggressive expansion, Grove said.

He said the company has upgraded its revenue target for this year to S$3.0 million from S$1.5 million after exceeding the S$1.0-million mark recently.

It is also confident it can achieve profitability "by early 2002" ahead of the original timetable of 2003-2004, "with some operations breaking even by mid-2001," he said.