BestKiteboarding.com Secures Financing
BestKiteboarding.com, the Web-based action sports manufacturer and retailer founded by internet entrepreneur Alex Shogren and professional wake-boarder turned kite-boarder, Shannon Best, has closed on its first round of funding led by Allen & Co., the New York investment bank. Other investors include several influential names from Wall Street and the action sports industry.
Ian Huschle, CEO of parent company Best Action Sports, Inc., said, “We’re extremely well positioned with the business experience and financial backing of our new partners. This investment gives us the wherewithal to push forward with our broad development plans for the brand, both within kite sports and the wider action sports market.â€