RealTime IT News

Lycos Ventures Invests $8 Million in Three Companies

Lycos Ventures, an investment fund created by Lycos Inc. and a group of partners, made its first investments, in LifeMinders.com, a provider of free personal e-mail reminders, Conducent, a provider of free software and Fogdog Sports, a sporting goods e-tailer.

Lycos Ventures was created to identify and fund promising new companies with technology and content offerings that will add value to the Lycos Network and the Internet industry at large.

Lycos Ventures has invested a total of $8 million in LifeMinders.com, Conducent and Fogdog Sports.

In addition to this funding, LifeMinders.com and Conducent have strategic relationships with Lycos to provide content to the Lycos Network.

"At Lycos Ventures, our investment strategy involves identifying breakout companies and then offering a road to success by combining funding with distribution on the Lycos Network," said Dennis Ciccone, managing director of Lycos Ventures.

"By providing critical capital along with Lycos know-how and audience reach, we feel strongly that these companies will become shining stars."