Donuts raises $110mn to complete $213mn Rightside merger

By Prasun Bose

Donuts, the leading web domain company, has raised a $110mn credit facility from Silicon Valley Bank (SVB).

The funding will allow the Washington-based firm to complete its merger with rival Rightside, a deal set to be worth $213mn. 

Once the formalities have been completed, Donuts will be able to offer a number of high-end domains such as .email, .guru, .social and .business.

SVB has been helping businesses for over 30 years and operates a number of innovation centres around the globe.

See also:


“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’ merger with Rightside was revealed in June and at the time Rightside’s CEO Taryn Naidu emphasised the benefits of the partnership.

“We believe that this agreement offers a substantial cash premium to our shareholders,” he said. “We look forward to working closely with Donuts to consummate this merger.”

Share

Featured Articles

How Elon Musk pulled off a $44bn hostile takeover of Twitter

As the world’s richest man, Elon Musk, takes over tech giant Twitter, we highlight the timeline that led to this titanic takeover

Amazon, Alphabet, Wells Fargo best workplaces, says LinkedIn

The top 50 workplaces to grow careers prioritise flexible work and tuition-support programs, as top-ranking firms Amazon and Alphabet prove, says LinkedIn

Top 10 women in technology in the US

These 10 women in tech are forging a path into bold areas of innovation and technological ambition, according to sister publication Technology Magazine

8 executive moves to crypto – from mainstream to startup

Technology & AI

Digital Twins tech ‘missing link’ in urban decarbonisation

Technology & AI

The Metaverse Foundry from Infosys is a business playground

Technology & AI