Company grows 1,000 percent since 2007
SOUTHFIELD, Mich., December 17, 2010—Michigan-based Outside Hub, the leading vertical advertising platform reaching outdoor enthusiasts online, announced today that it has engaged in a private recapitalization transaction to fuel the company’s aggressive growth. Outside Hub President and Founder David Farbman made the announcement.
In the continued growth and expansion of the company, a mix of subordinated debt and equity funding was provided to Outside Hub by MK Capital, an established venture capital firm with offices in Chicago and Los Angeles offering multi-stage growth equity and venture capital with a strong sector focus on digital media, data center automation, software, and education technology. The terms of the agreement were not disclosed. Detroit and Chicago-based P&M Corporate Finance, LLC advised Outside Hub during each phase of the transaction.
“Outside Hub’s founding goal to connect advertisers to the active outdoor audience online in a highly targeted manner remains our focus, in addition to our current business initiative of broadening the reach of our brand and directly engaging with the consumer market,” said Farbman. “The recapitalization process was the next crucial step to boost the company’s capital structure to prepare for—and properly foster—long-term growth.”
The company has an impressive growth track record. Profitable since its founding in 2007, the company grew 50 percent between 2009-2010 and 1,000 percent since 2007.
Outside Hub has evolved into a fully-integrated, multi-platform multimedia provider, delivering unique advertising opportunities, marketing campaigns, fresh and compelling content, and specialized suite of online resources that drives traffic, engages consumers and builds brands. An increasingly diverse and robust range of resources has helped Outside Hub become a leading industry innovator—establishing the Outside Hub network as a recognized content source for all things outdoor online.
Founded in 2007 by David Farbman, Outside Hub is the leading vertical advertising platform reaching outdoor enthusiasts online. With a comprehensive network of more than 400 websites, Outside Hub offers a complete suite of services including traditional display ads; customized ad services, including email blasts, widget placements, dedicated forum threads, surveys and sweepstakes, etc.; editorial content; optimization and reporting; campaign targeting and creative services. Outside Hub is headquartered in Southfield, Mich. with offices in Chicago, Ill., Minneapolis, Minn. and New York, NY. For more information, go to www.outsidehubmedia.com.