London-based Big Worldwide, which provides marketing services to the hotel industry, has raised £1.25 million from management and external investors.
London-based Big Worldwide, which provides marketing services to the hotel industry, has raised £1.25 million from management and external investors.
The financing was led by US advisory firm Gulf+Eastern Advisers and included the sale of common stock, new mezzanine financing and expanded banking facilities. It will be used to continue Big Worldwide’s international expansion, invest in technology and facilitate possible mergers and acquisitions.
Peter Gould, CEO and founder of Big Worldwide, says, ‘Despite the significant economic headwinds buffeting the travel and advertising sectors and the turmoil in the financial markets, I believe our successful capital raising is a vote of confidence.’
The company was founded in 1997 to create a series of hotel guides. It now consists of two divisions, hotel marketing alliance Great Hotels Organisation and Big Media and Events, which focuses on e-commerce tools, print media and events for the hospitality industry.
