NeoPlanet Orbits On Its Own
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The spin-off was fueled by capital from an investment group that includes Network Associates Inc.'s Vulcan Internet Venture Fund. Financial specifics of the investment were not disclosed.
NeoPlanet's spin-off is part of Bigfoot's strategy to maximize shareholder value and allow for direct investment in its properties while providing autonomy to the individual businesses. Other Bigfoot divisions include Bigfoot Directory, free e-mail and e-mail campaign management.
NeoPlanet will continue development of future products and support the marketing of NeoPlanet 2.0, a browser/portal application. The alternative browser has an estimated user-base of 250,000 since launching in October 1998.