InterSearch Raises $7 Million in Debt Financing
San Francisco - InterSearch Group, a San Francisco-based provider of Internet search services and operator of industry-specific destination portals, said on Monday that it has raised $7 million in debt financing. The debt was privately placed with CapitalSouth Partners and Harbert Management. The company said that it plans to use $6.15 million of the proceeds to buy back its stock, issued in connection with its acquisition of tax-related Internet domains in September. InterSearch said that it generated $2.8 million in revenue from www.irs.com in the first quarter.
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