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Dash.com Receives $12.1 Million to Launch Mobile Shopping Portal

Dash.com, developer of a mobile shopping portal based on client-side software, said it has received $12.1 million in funding from AT&T Ventures, JP Morgan Investment Corp., Wasserstein Perella Ventures Inc. and Affinity Partners International.

AT&T Ventures is the lead venture firm in the Series A Preferred Financing. Prior to this investment, Dash.com's development had been financed by its five founders and Affinity Partners International, a marketer to affinity groups.

Dash.com said it will use the money to introduce its service offering in the third quarter. Dash.com provides consumers with a personalized, virtual shopping assistant and enables merchants to market to pre-qualified consumers.

The software, which takes less than a minute to download with a 28.8 modem, is in the final stages of consumer testing, the company said, adding that it negotiating exclusive and favorable terms for Dash.com members at various online merchant sites and developing co-branding partnerships with several major affinity groups.

"Dash will become one of the Web's leading e-commerce transaction facilitators," said Brad Burnham, partner at AT&T Ventures. "Dash is the only company that gives consumers added savings without making them do any extra work and at the same time reduces marketing costs for online merchants. We believe Dash has the potential to change the landscape of Internet marketing."