DreamHost Announces Closing Of Debt Facility
Freeing Capital Allows for Significant Reinvestment Into WordPress Services
LOS ANGELES--(BUSINESS WIRE)--DreamHost®, a global leader in web hosting and Managed WordPress services, is pleased to announce the completion of a new $18 million credit facility with J.P. Morgan.
“This financing provides DreamHost with substantial economic opportunities and lower borrowing costs as we aggressively pursue growth by investing back into our people and into our customers’ success,” said Ho Yun, Controller at DreamHost. “We are thrilled to join forces with J.P. Morgan and leverage their expertise in both domestic and international operations.”
DreamHost selected J.P. Morgan based on its comprehensive range of financial solutions and capabilities, which include extensive experience managing merchants with high-volume credit card transactions and its strong expertise in international markets.
“We see J.P. Morgan as a true strategic collaborator for facilitating operational improvements for our many customers worldwide,” Yun added.
“As a pioneer in the web hosting space with strong operational cash flow, sizable customer base, and growing international presence, DreamHost is a great client for J.P. Morgan’s technology portfolio,” said Raj Morey, Executive Director with J.P. Morgan’s Middle Market Banking Technology Practice. “We’re proud to have been selected by DreamHost for the next step in their journey.”
Flexibility in both the repayment schedule and the covenant structure provide DreamHost with significant ability to grow and reinvest in core aspects of its business as it continues to deliver a top-tier managed WordPress experience to its hundreds of thousands of customers worldwide.
About DreamHost
DreamHost is a premier Managed WordPress hosting provider, giving over 400,000 businesses, developers and content creators worldwide the tools they need to own their digital presence. Powered by a strong team of industry experts with nearly two decades of advanced web experience, DreamHost is a leader in Managed WordPress hosting. Supporting the open source community with dedicated resources and top-tier talent, DreamHost believes in the power of the Open Web and the people that make it happen. Founded in 1997, DreamHost has offices in Los Angeles and Orange County, California and in Portland, Oregon. Learn more at DreamHost.com.
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Contacts
DreamHost
Brett Dunst
brett.dunst @ dreamhost.com
or
Idea Grove
Brittany McLaughlin
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About DreamHost
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DreamHost have been hosting their clients' websites since April 1997. The company was launched by four Computer Science undergraduates at hmc.edu in Claremont, CA with no capital apart from a single Pentium 100 web server, using shared bandwidth on a T1 line that a friend gave them at no cost.Now they have already grown to over 1500 servers (each with over 50 times the processing power of Destro), a state-of-the-art data center, and a full time staff of 70 at last count. The company hosts over 800,000 web sites.They offer a wide range of fe... read more
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