Digital Magics (AIM Italia: DM) exited ProfumeriaWeb, a Milan, Italy-based beauty e-commerce company.
The Milan based venture incbator sold its 5% stake to holding company Free Bird in a transaction generating a 3x multiple on the investment.
The company had a pre-money evaluation of €6m.
Founded by CEO Vincenzo Cioffi, ProfumeriaWeb is an onlire retailer selling parfums and cosmetic, make up and hair products.
The company offers over 8.000 discounted items delivered within 2-3 days, has 120.000 clients.
In December 2016, the site had over 600k visits and over 2.5m page views.
FinSMEs
31/01/2017