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NEW YORK Batanga, the privately held company that runs the Batanga.com Web portal, today said it received a $5 million investment from venture capital firm HIG Ventures.
The money will be used for consumer and trade marketing and advertising to promote Hispanic awareness of the brand and drive traffic and advertisers to the site, said Troy McConnell, chief operating officer of Miami-based Batanga.
“This is not working capital for operations. We are doing well and have enough money for working capital,” McConnell said.
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