Monday, March 30, 2009

LoopNet Gains $50M In PIPE

San Francisco-based LoopNet, which operates an online marketplace for commercial real estate, said today that the publicly held firm has inked a deal to receive $50M in a private equity investments. According to LoopNet, Calera Capital, along with existing investors Trinity Ventures and Rustic Canyon Partners, will purchase $50M in LoopNet convertible preferred stock. The firm said the funding will give it additonal resources to pursue and accelerate its growth strategy. James T. Farrell of Calera Capital joins the board along with the funding. More information »