RealTime IT News Secures $50 Million

Space news, entertainment and educational content site raised $50 million in a second round of funding led by SpaceVest and joined by Blue Chip Venture Company and PaineWebber, as well as first-round investors Venrock Associates and Greylock.

These investors join NBC, which announced last week that it had acquired a minority equity stake in

The company said the investment will be used to fund's growth, consumer branding, international expansion and strategic acquisitions.

"The tremendous support of our investors allows us to strengthen our position as the leading provider of space content and gives us the opportunity to aggressively pursue our growth plans to build our brand and achieve our mission of popularizing space," said Lou Dobbs, chairman and chief executive officer.