NEW YORK, May 10, 2013 /PRNewswire/ -- Business search engine Masterseek announced this week that it is preparing to raise $10 million for a huge new upgrade to take place in the third quarter of 2013. An IPO is on the horizon for sometime in 2014.
Recently, Masterseek raised funding at a valuation of $540 million so the total amount raised since the company was founded in 1999 is $15 million.
"We planned to raise money in the third quarter of this year to promote our new B2B marketplace which we believe has great potential," Rasmus Refer, president, Masterseek says. "At the moment, there are only a few dominant players such as Alibaba that are particularly strong in Asia. We are going to focus on Africa and South America where there is tremendous growth and potential, but the marketplace will be a global brand and include products for sale from 76 countries."
Masterseek plans to take advantage of having information from more than 150 million companies. In addition, it has developed software that is easy to use and quickly indexes items for sale in its marketplace from other smaller B2B sites.
"We expect to have more than 10 million products for sale before the end of the year," Refer says.
In addition, Masterseek allows companies to publish press releases, seek venture capital, make a buying request, find new partnerships and simply ask questions.
The company announced last year that, for the first time, it is cash-flow positive. In the past year, the company added 15 developers.
Founded in 1999 by the Danish entrepreneur Rasmus Refer, and powered by its leading-edge business-search engine technology, Masterseek continues to grow rapidly as the leading online platform for business information. Masterseek is a global business search engine, offering access to the world's largest searchable database of business information. Its mission is to continue to provide businesspeople with the most complete, relevant and accurate business information available on the Internet. It continues to gather, analyze and present information to businesspeople in ever-better ways.
For more information: www.masterseek.com.
of Masterseek Corp.
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SOURCE Masterseek Corp.