VC Buzz – $133.7+ Million in Today’s Deals

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New in the News,, CyberBills, Cyrk, First Regional Telecom,,, PictureWorks Technology, Realty Plus Online, SEND.COM, TechOnLine, TEK DigiTel,

 Acquires $60 Million Dollars in Funding

PORTLAND, Ore. —, an online photography equipment, digital imaging and consumer electronics retailing, obtained $60 million in private venture capital funding. The consortium of investors participating in’s first round of funding includes Greylock, Technology Crossover Ventures, August Capital, Accel Partners, Norwest Venture Partners, and Bain Capital.

SEND.COM Raises Close to $30 Million in Second Round of Funding

WALTHAM, Mass. — SEND.COM, an Internet service for sending customized “good life” gift experiences, has raised close to $30 million in a second round of financing led by Tudor Investment Corporation and an unnamed additional investor. These investment firms join the company’s existing investors Benchmark Capital, Charles River Ventures, Greylock, and Highland Capital Partners to complete this round of funding. The total investment in the company to date is over $40 million.

Cyrk Stockholders Vote to Approve Yucaipa Companies’ $25M Investment

GLOUCESTER, Mass.– Cyrk Inc. (Nasdaq:CYRK), a global leader in the promotion industry, announced that at a Special Meeting of Stockholders held, stockholders voted to approve a $25 million investment in the company by The Yucaipa Companies, a Los Angeles-based investment firm. Under the terms of the agreement, Yucaipa will purchase 25,000 newly issued convertible, preferred shares of Cyrk which will pay an annual dividend of 4 percent and will be initially convertible into Cyrk common shares at $8.25 per share. Yucaipa will also receive a warrant to purchase an additional 15,000 convertible preferred shares at $9.00 per share. Recently, Yucaipa has expanded into technology investments and has teamed with former Disney Online president, Richard Wolpert, to form the recently launched Receives Capital Investment From VBI

GRAND CAYMAN, British West Indies– (AMEX:XLA) announced a $10 million investment from VBI Corp., its majority shareholder. These additional funds are committed to the expansion of its subsidiary Mirror Image Internet’s global network of highly scalable Content Access Points that enhance Internet content delivery speeds to end-users worldwide.

TEK DigiTel Corporation Secures $5.5 Million of Equity Financing

GERMANTOWN, Md. — TEK DigiTel Corp. (OTCBB: TEKI) a developer of voice/data integration solutions, has completed negotiations for $5.5 million in equity funding which will be used as working capital, volume manufacturing start-up and to fulfill several marketing program commitments. This brings the total capital raised to date to $6.5 million. The company focuses on integrating fax- and Voice-over-IP technologies with conventional PBX systems and data routing devices to create a low- cost, easy-to-use Internet communications hub. Receives Over $2.6 Million In First Round Funding

FAIRFIELD, Iowa– Corp. closed its Series A round of funding, receiving more than $2.6 million in first round funding from Samsung America, members of and the Band of Angels. This funding will be used to finance the deployment of its unique cooperative International IP Telephony network expansion plans. 250 International points-of-presence are planned over the next three years, providing the basis for innovative services such as Internet Telephony, Unified Messaging and Internet Access.

First Regional Telecom Announces First $600,000 Tranche Investment

SILVER SPRING, Md.– First Regional Telecom, a DC-based provider of property-specific Intranets and communication services for the apartment community market, announced a first tranche investment of $600,000 by Accelerant Partners LLP, a “venture catalyst” firm. This additional capital supports First Regional Telecom’s operational capabilities and sales initiatives, allowing the company to become a leading developer of private-label Web Neighborhood On-Line Living Centers designed specifically for residents and property managers/owners of apartment communities in the Mid-Atlantic region.

CyberBills Receives Investment From Intuit

SANTA CLARA, Calif.– CyberBills, creator of and a leader in offering total bill management over the Internet, announced that Intuit Inc. (Nasdaq:INTU) has invested an undisclosed amount in the company. This is the second phase of funding following the $9 million second round investment in September led by Vertex Management Inc., and including Kiwi Fund, Technology Development Fund pte, Greenfield Technology Ventures Fund, The Angels’ Forum, several private investors from the New York investment banking community, and original investor DOTCOM Ventures L.P.

PictureWorks Technology Announces Equity Investment in

DANVILLE, Calif.– PictureWorks Technology Inc. announced an equity and development partnership agreement with, a new Web community for teens and created by teens. Under the terms of the agreement, PictureWorks will provide exclusive rich-media technology and development services to

Internet Fact of the Day

The average total direct compensation for a chief executive officer at a publicly traded Internet company is a relatively modest $1.74 million, according to a compensation survey conducted by PricewaterhouseCoopers. But CEOs on average have a 12.1 percent equity stake in their company, or a value of $468.5 million. Closes $15 Million Venture Fund II

WESTPORT, Conn.– Corp. (Nasdaq: INTM), publisher of this Web site, announced the formation of Venture Fund II LLC, dedicated to early stage investments in content Web sites. The fund closed on November 10, 1999. Corp., of which Alan M. Meckler is chairman and CEO, will manage the Fund. Corp. is also the portfolio manager of Venture Fund I LLC, formed in April of 1999, which consists of the following nine portfolio companies:,,,,,,, and Corp. is also an equity owner in both and

Network Solutions Acquires

HERNDON, Va.– Network Solutions Inc. (NASDAQ: NSOL), signed an agreement to acquire, a privately held Internet company that offers professionally designed, ready-to-deploy Web sites at a do-it-yourself price. First-round financing for came from a group of angel investors including: Dwayne Walker, CEO of Seattle-based TechWave Inc. (formerly of Microsoft’s executive ranks); Bob Voelk, CEO of OmTool (Nasdaq: OMTL); Dan Toomey, CEO of Nomadix; and the Silicon Valley law firm of Wilson Sonsini Goodrich & Rosati.

Who’s Who & Where

TechOnLine Expands Corporate Sales Force

WALTHAM, Mass.– TechOnLine – an Internet destination for information, education and resources for the worldwide electronic engineering community – announced the promotion of Christine Shaw to vice president of marketing and sales, and the appointment of James Graham as vice president of western region sales. In August, TechOnLine announced a $3.5 million capital investment by SCP Private Equity Partners L.P.

Former Money Store Execs Join Realty Plus Online

SACRAMENTO, Calif.– Former top executives of The Money Store Inc., William S. Templeton and Harry Puglisi Jr., have joined Realty Plus Online Inc., a rapidly expanding high-tech developer of enterprise-level real estate Internet solutions. They will act as chief strategy officer and corporate financial advisor, respectively. In addition, both have made equity investments in the company. Realty Plus Online is the creator of, a new system which automates the real estate purchase transaction over the Web.

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