Donuts Raises $110 Million in Debt Financing
Internet and IoT company Donuts announced the close of $110 million in debt financing. Silicon Valley Bank, Cadence Design Systems, Comerica Bank, Umpqua Bank and Pacific Western Bank participated in the offering.
Donuts, Inc., aims to be the world’s largest registry of next-generation domain names. With nearly 200 top-level domains and millions of registrants, Donuts seeks to offer a wide variety of clear and meaningful names representing users’ identities online in the best possible way. The company provides business identifiers (such as .ltd), navigation (for example .support), vertical market specifics (such as .builders) and broad-based generics (.world), among others, a portfolio that, according to the company, “offers unequaled precision and differentiation.” With office locations in Seattle, WA; Washington, DC; Los Angeles; London; and Hong Kong, Donuts sells its products through the world’s leading registrars and resellers, including GoDaddy, Alibaba and 1and1.
According to the company, Donuts is using the new funds to complete its $213 million merger with the Rightside Group (NASDAQ:NAME), a publicly-traded domain name services company, as well as for general corporate purposes.