Financial Publication Wins Backing

In a strategic play designed to improve its existing services, financial
news Web site Monday lured investments from a well-known technology executive and a portal operator.

The company sold a 5% stake of its company to Paul Allen’s Vulcan Ventures and Web-site operator Go2Net for $7.5 million in cash.

As a part of the deal, Vulcan and Go2Net each took an
option to buy 7.45% of stock within six months.

Thomas Clarke, CEO of, said Go2Net has done a superb job on
their message board and that he would like them to do the same for his
company’s site.

“I firmly believe that you don’t have to recreate the wheel, particularly
when Go2Net is doing such a good job,” said Clarke.

Under terms of the licensing deal, users of’s main site can
visit message boards using Go2Net’s technology platform, and subscribers to
its paid site can post and view messages in a private-label

Clarke said the $7.5 million in cash would be added to’s
existing $90 million in the bank.

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