Two German corporate venturing units, eVenture and T-Venture, which are sponsored by local retailer Otto Group and phone operator Deutsche Telekom respectively, had backed Kaufda, which is sold to Germany-based media group Axel Springer.
Germany-based media group Axel Springer has acquired 74.9% of Kaufda, a local service to help companies with their online sales promotions, from its corporate venturing backers.
News provider TechCrunch said the valuation on the Axel purchase was $40m.
Two German corporate venturing units, eVenture and T-Venture, which are sponsored by local retailer Otto Group and phone operator Deutsche Telekom respectively, had backed Kaufda in August 2009, alongside the three angel investors who had provided the founders with their seed money.
