VC Buzz - $25.77+ Million in Today's Deals
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For the latest on cool Internet Start-Ups and their VC backers, point your browser to: http://www.internetVCwatch.com/
New in the NewsAeneid, Artificial Life, Credit Suisse First Boston, cyberoad.com, eOriginal, e2enet, FutureNext Consulting, Inflightonline.com, NexTag.com, Salomon Smith Barney, WR Hambrecht + Co, Ziff-Davis, Zkey.com
LOS ANGELES-- Zkey.com (formerly Zcentral.com), a division of SDN Online Inc., closed its second round of funding, totaling more than $10 million. Investing in this round were Bear Ventures, Ridgely Capital, Zone Ventures and Oracle. Bear Ventures led the round with a $5 million investment. Ridgely invested $2 million. Zone Ventures, Los Angeles affiliate of the Silicon Valley Venture Capital Firm Draper Fisher Jurvetson, led the first round and has participated in this second round.http://www.zkey.com
SAN MATEO, Calif.-- NexTag.com Inc., an online buying service where sellers compete to give great deals to buyers, closed its second round of financing in the amount of $7 million from technology investment firm, Morgenthaler Ventures. NexTag.com also announced the completion of its marketing and sales management team including former Coca-Cola executive, Jim Taschetta, now vice president of marketing and former Multiple Zones International executive, Mark Bradley, appointed vice president of sales.http://www.NexTag.com
BALTIMORE-- eOriginal Inc. received an additional $6.5 million investment from both GE Capital Corp., a new investor in the company, and existing investors Hat Creek Partners and Intel Corp. This additional equity funding brings the company's total 1999 external funding to $22.5 million. eOriginal's patented business process creates Electronic Original documents--unique, unalterable digital documents--including electronic negotiable instruments.http://www.eoriginal.com
SAN JOSE, Costa Rica-- cyberoad.com Corp., a Florida corporation (OTCBB: FUNN), announced that it completed an offshore offering in the aggregate principal amount of $2.27 million dollars. The company issued 648,859 shares of cyberoad.com common stock at a price of $3.50 per share. cyberoad.com develops distributed wide area network gaming (Sportbook and Casino) systems, markets its licensee's sportsbooks and casinos, and manages daily operations of its licensee's sites.http://www.cyberoad.com
WHITE PLAINS, N.Y.-- Winfield Capital Corp. (Nasdaq: WCAP) announced the closing of an equity investment in Aeneid Corp. of San Francisco, Calif. Terms of the investment were not disclosed. Aeneid is building the Internet Information Exchange, a network of vertical portals allowing business professionals to gain access to the most recent and relevant industry-specific information.http://www.eocenter.com/home/aeneid.html
NEW YORK -- Ziff-Davis Inc. (NYSE: ZD; ZDZ) signed a definitive agreement to sell its 64% interest in ZDTV to Vulcan Ventures Inc., the investment organization of Paul G. Allen, for $204.8 million. The transaction is expected to be completed within 45 days, subject to regulatory approvals. ZDTV will continue to maintain certain business agreements with ZDNet and ZD Publishing following completion of the transaction.http://www.zdtv.com http://www.paulallen.com
DEERFIELD BEACH, Fla. -- Inflightonline.com, the first provider of in-flight Internet and intranet services, announced a strategic alliance with Lycos Inc. (Nasdaq: LCOS), an Internet portal and online community, to provide intranet and Internet services to airline passengers. As part of the alliance, Lycos, Inc. has acquired a 10-percent stake in Inflightonline. Inflightonline will offer intranet and Internet access with Lycos content and services.http://www.inflightonline.com http://www.lycos.com
BOSTON-- Artificial Life Inc. (Nasdaq: ALIF), a technology leader of intelligent software robots for the Internet, announced the acquisition of the remaining 49% of Artificial Life Ventures Inc., a Boston-based venture capital firm previously jointly-owned with Cybermind AG, a German holding of Internet companies. The purchase was made in cash and stock options. Details of the purchase will not be disclosed. The company intends to use Artificial Life Ventures as a vehicle for acquiring leading-edge technology companies that will complement and add value to Artificial Life's existing technological capabilities. Artificial Life Ventures will focus primarily on the U.S., German, Swiss, and eastern European markets.http://www.artificial-life.com
SAN FRANCISCO-- WR Hambrecht + Co, the online investment bank, announced the introduction of its online Private Investments area, which allows accredited investors the opportunity to invest in venture capital and late-stage private equity investments directly via the Internet. The Private Investments Area can be accessed on the company's home page athttp://www.wrhambrecht.com. To date, the company and its affiliates have invested nearly $27 million in 16 private deals.
RESTON, Va.-- Exit1 Inc., an Internet technology solutions provider, launched the web site for e2enet Inc., an entrepreneur-to-entrepreneur network, which operates, develops and invests in Internet-related businesses. The newly designed site,http://www.e2enet.com, is a destination point for companies that desire an alternative to traditional venture capital firms and Internet incubators. http://www.exit1.com
Who's Who & Where
NEW YORK-- Salomon Smith Barney announced several senior appointments, hirings and consulting agreements focused on expanding the firm's private equity businesses. Josh Lerner and Paul Gompers, both of Harvard Business School, have joined SSB to work with the Private Equity Group. Josh Lerner is a Professor of Business Administration, and Paul Gompers is an Associate Professor of Business Administration.
Additionally, Salomon Smith Barney has named John Barber to be deputy head of the Financial Entrepreneurs Group. John Barber formerly had been a senior managing director in Salomon Smith Barney's Public Equity Capital Markets Group. The firm also announced four new hires in the Firm's Private Equity Fund Group: Loren Boston, Neil Banta, Tina Courpas and Carolyn Choi. All four joined after leaving Deutsche Banc Alex. Brown's private equity finance group (a subsidiary of Deutsche Bank) within the last two months.
PALO ALTO, Calif.--Credit Suisse First Boston announced that it has hired a Latin American banking & research team from Lehman Brothers. Internet research analyst Will Landers and investment bankers Emmanuel DeSousa and Adriano Borges will join the CSFB Technology Group's global Internet team. They will focus on Latin American Internet companies.
MCLEAN, Va.-- FutureNext Consulting, an e-business and supply chain consulting firm serving the mid-market, announced the appointment of Kathleen Barton to vice president of marketing. Prior to joining FutureNext, Barton served as vice president of marketing for The Hunter Group. FutureNext Consulting was formed through a partnership between Chicago-based private equity investment firm GTCR Golder Rauner LLC and industry leaders Michael Caggiano and Loren Burnett, with GTCR committing $75 million in private equity capital.http://www.futurenext.com
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