11 July 2008

ASI invested in Wahanda, an online wellness ecosystem

ASI has formally announced an investment in UK-based online wellness marketplace, Wahanda.

Wahanda will bring together transactional abilities (to find, book and purchase treatments or vouchers) with a thriving interactive user community of recommendations, reviews, and information. The site, which is live now and will be fully transactional in September, is on track to become the leading marketing channel for the wellness industry with more spas, treatments and practitioners listed than on any other website.

Founded in early 2008, Wahanda's founders are former executives from lastminute.com and Yahoo!. They are backed by an impressive list of investors and board members, including the former President of Worldwide Operations at Four Seasons Hotels & Resorts, Wolf Hengst; co-founder of lastminute.com, Brent Hoberman; former executive chairman of last.fm, Stefan Glaenzer and others.

"In addition to working with and supporting this remarkable team, ASI is very excited about Wahanda, given that the global spa economy is now worth an estimated USD $60 billion. Its market size across Europe exceeds $18 billion as the largest regional spa market in the world, and it's a $12 billion industry in the United States alone[*]," explains Eileen Broch, Investment Director at ASI who serves on Wahanda's Board of Directors.

"Wellness is a massive industry -- bigger than the film or music markets -- and yet largely under-represented online. With the help of a world-class group of investors, Wahanda is pioneering the way in which the wellness industry uses the Internet to bring consumers and businesses together," said Lopo Champalimaud, CEO Wahanda.

For more information visit the company's website at www.wahanda.com

[*]Global Spa Summit, Global Spa Economy 2007, prepared by SRI International, May 2008

About Wahanda

Wahanda is an ambitious UK-based startup company developing a global E-commerce, content and community marketplace for the beauty, health and wellness industries. Founded by veterans of lastminute.com and Yahoo!, Wahanda is looking to revolutionize the way consumers search and book health and beauty treatments by connecting businesses, customers and therapists.

About ASI

Ambient Sound Investments (ASI) was established by the former founding engineers of Skype, and uses its assets to fund emerging international technology companies. ASI is mostly focusing on Eastern Europe and Russia, searching for innovative companies that are developing unique technologies or based thereon to be added to its investment portfolio. For additional information, please see: www.asi.ee

Additional Information:

Eileen Broch
Investment Director, ASI
skype: eileenbroch

Lopo Champalimaud
CEO, Wahanda
skype: lchampalimaud