Daily News: April 24, 2012

Answers Receives Minority Investment From TA Associates

Answers, a destination for Q&A content, announced a significant minority investment from TA Associates, a global growth private equity firm, which will enable further expansion of its knowledge leadership across Web, mobile and social platforms. Terms of the investment were not disclosed. With this investment, Answers will expand its focus on delivering more personalized, social and engaging experiences that inform consumers through Q&A, user-generated content, vertical search and social media. Answers previously raised capital from Summit Partners, which maintains an ownership stake in the company.

“With an attractive portfolio of content and leading brands across a variety of platforms, Answers has continued to innovate driving strong growth,” said Hythem T. El-Nazer, a director at TA Associates. “We are pleased to complete this investment and look forward to working closely with the company’s talented management team to further build value.” Both Hythem T. El-Nazer, and Elizabeth de Saint-Aignan, a senior vice president at TA Associates, will join the Board of Answers.

“We’re excited to remain as a significant investor in Answers and welcome TA’s experience and help in growing the business,” said C.J. Fitzgerald, a Managing Director at Summit Partners who remains on Answers’ Board of Directors along with Peter Rottier, a principal at Summit who will serve as a board observer. “Answers perfectly fits the Summit Partners investment profile as a rapidly growing, highly scalable business run by an exceptional management team. We are committed to supporting Answers’ growth strategy.”

Summit Partners is a growth equity firm that invests in rapidly growing companies.