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LoanCity.com Raises $38.4 Million

SAN JOSE, Calif. -- LoanCity.com, a large source of online residential mortgage loans for brokers, completed its Series B preferred stock financing. LoanCity.com's second round of financing raised a total of $38.4 million, bringing the company's post-money valuation to approximately $130 million. The investment came from Century Capital Management Inc., InterWest Partners, Marsh & McLennan Capital Inc., InSight Capital Partners, Morgan Stanley Dean Witter Equity Funding Inc., BancBoston Robertson Stephens Inc. and New Enterprise Associates, as well as E*TRADE Group Inc. Mark MacLennan, managing director of Century Capital, and Nicholas Rudenstine, an associate at Marsh & McLennan, will join E*TRADE's Tom Bevilacqua as representatives of the Series B investors on LoanCity.com's board of directors.


Snowball.com Closes $35 Million Mezzanine Financing

SAN FRANCISCO-- Snowball.com Inc., an online media company for Generation i -- 12-29 year olds who have grown up using the Internet -- secured an additional $35 million in private equity funding. Snowball's new investors include J.& W. Seligman & Co., Palantir Partners, Pivotal Asset Management, Generation Partners, CrossLink Capital and Sand Hill Capital. Lead investors from Snowball's previous round, including Worldview Technology Partners, Weiss Peck & Greer, WaldenVC and Whitman Capital, also participated in the round. New Line Cinema, Chris Anderson, chairman of Snowball.com, and Mark Jung, CEO and president of Snowball.com, are also included in the list of return investors.