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Angel Investor (Group)

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Investments

2

Portfolio Exits

1

About Getty Family

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Latest Getty Family News

Multiply Group to Invest $75 Million in Additional PIPE Investment in Connection With Getty Images’ Business Combination

Dec 30, 2021

Tech-focused holding company signs binding commitment to invest at $10 per share, on the same terms as the existing $150 million PIPE committed in the aggregate by a CC Neuberger affiliate and by the Getty Family, bringing total anticipated PIPE proceeds to $225 million Tech-focused holding company Multiply Group and CC Neuberger Principal Holdings II , a special-purpose acquisition company sponsored by CC Capital and Neuberger Berman, announced the signing of a binding commitment for Multiply to make an additional $75 million PIPE investment, on the same terms as the existing PIPE investors, in CC Neuberger’s business combination (the “Business Combination”) with Getty Images (or the “Company”), a preeminent global visual content creator and marketplace. As previously announced, upon closing of the transaction between Getty Images and CC Neuberger Principal Holdings II, a newly formed parent company of Getty Images will become a publicly traded company, and its common stock is expected to be listed on the New York Stock Exchange under the symbol “GETY.” The closing of the transaction is expected in the first half of 2022. The Business Combination values Getty Images at an enterprise value of $4.8 billion. The incremental PIPE from Multiply increases total capital commitments to $875 million with an expected total equity investment of approximately $1.3 billion raised in the transaction. Proceeds are expected to pay down existing Getty Images debt and conservatively capitalize the Company’s balance sheet with a net leverage ratio of approximately 3.2x 2022E Adjusted EBITDA of $315 million. Samia Bouazza , CEO and Managing Director of Multiply Group, said: “We regard Getty Images as a clear global leader in visual content with substantial recurring subscription revenues and high growth potential amid continued digital disruption, and this investment is a key step in our pursuit of strategic investments that create technological synergies across our portfolio. This is a great opportunity to invest in Getty Images prior to its expected listing on the New York Stock Exchange, alongside the CC Neuberger team, a partner with a strong vision and impressive track record.” Chinh Chu, CEO and Director of CC Neuberger Principal Holdings II, said: “We are pleased to welcome Multiply Group as a major investor as we progress toward completing CC Neuberger’s business combination with Getty Images. Multiply Group will be a valuable long-term partner to our investor base, and they share our vision for the future growth and opportunities at Getty Images.” Craig Peters , CEO of Getty Images, said: “We value the commitment from Multiply Group and look forward to their long-term investment support for our next phase of growth. Becoming a publicly listed company is the next step in the continued evolution of our business and enables us to build on our momentum as we enable more and more businesses to connect and compete in an increasingly visual world.” Getty Images complements Multiply Group’s existing investments in fast-growing, global tech-centric businesses, which include digital marketing firms Firefly and Yieldmo. Multiply Group recently raised AED 3.1 billion in a private placement ahead of its listing on the Abu Dhabi Securities Exchange on December 5, 2021.

Getty Family Investments

2 Investments

Getty Family has made 2 investments. Their latest investment was in i(x) investments as part of their Angel on March 3, 2019.

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Getty Family Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

3/20/2019

Angel

i(x) investments

$12M

Yes

2

1/31/2019

Private Equity - II

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$99M

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10

Date

3/20/2019

1/31/2019

Round

Angel

Private Equity - II

Company

i(x) investments

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Amount

$12M

$99M

New?

Yes

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Co-Investors

Sources

2

10

Getty Family Portfolio Exits

1 Portfolio Exit

Getty Family has 1 portfolio exit. Their latest portfolio exit was Getty Images on December 10, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

12/10/2021

Acq - Pending

$99M

2

Date

12/10/2021

Exit

Acq - Pending

Companies

Valuation

$99M

Acquirer

Sources

2

Getty Family Acquisitions

1 Acquisition

Getty Family acquired 1 company. Their latest acquisition was Getty Images on September 04, 2018.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

9/4/2018

Other

$99M

$685.77M

Acquired

1

Date

9/4/2018

Investment Stage

Other

Companies

Valuation

$99M

Total Funding

$685.77M

Note

Acquired

Sources

1

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