BETHESDA, Md. — Startec Global Communications Corp. (Nasdaq:STGC), a facilities-based provider of communications services targeting ethnic communities worldwide, completed a private placement of 1.875 million shares of its common stock at $16.50 per share for approximately $30.9 million in gross proceeds. The proceeds from the offering will be used primarily to fund Startec’s Internet initiatives, including the expansion of its VOIP network facilities, the acquisition and development of additional ethnic-specific content and features for eStart, its on-line ethnic virtual community brand, and the expansion and enhancement of its Internet services.
ATLANTA– Technology Builders Inc., an Atlanta-based software and services company, announced the closing on a third round of financing totaling $6.1 million. Stonehenge Partners Inc., a Columbus, Ohio-based private-equity firm, led the round of financing with an investment of $4.5 million. David Schwickerath, senior vice president of TBI, also participated in this round. The remainder of the financing came from TBI’s current strategic partners, which include Cordova Ventures, River Cities Capital, and David Wetmore of Updata Capital Inc. Gary A. Peat, director of Stonehenge Partners, and David Schwickerath, senior vice president of TBI, will become members of TBI’s board of directors.
ATLANTA– RememberIt.com, a personal information management and online reminder service, received $1.7 million in private equity financing to support the launch of its Web site in January 2000. RememberIt.com is a free service that offers easy-to-use online tools and personalized tips and information. The company’s business model offers strategic partners and other Web sites the ability to license its email reminder technology, content and site functions to reach and keep new and existing visitors. The company received this initial financial support from a group of private investors and will continue to explore additional equity from Internet venture capital firms.
ANDOVER, Mass., and SAUSALITO, Calif.– CMGI Inc. (Nasdaq:CMGI), a network of Internet companies, entered into an agreement to acquire Equilibrium, a provider of automation solutions for Internet media development. The parties expect to close the transaction in January 2000. Following the closing, Equilibrium would become a majority-owned operating company in the CMGI network. Terms of the transaction were not disclosed.
SAN DIEGO — MP3.com Inc. (Nasdaq:MPPP), a music service provider, signed a definitive agreement to acquire privately held seeUthere.com, a comprehensive online event-planning web site, in an all-stock transaction. The transaction, which will be accounted for on a pooling-of-interests basis, is expected to close in the first quarter of 2000. seeUthere.com was recently profiled in VC Watch. SeeUthere.com is owned and operated by TransComputing International Corp., a privately held, venture-backed company which entered into the definitive agreement with MP3.com. Draper Fisher Jurvetson, AsiaTech Ventures, and Acer Technology Ventures were investors in the company’s first round of financing.
SAN FRANCISCO — Venture Factory Inc. announced that it would acquire FinancialDNA Inc. in a move to create a new e-Finance information aggregation service. Venture Factory, an Internet venture management and technology laboratory, will leverage FinancialDNA’s open and neutral publishing platform to bring a new generation of information services to the financial community. As part of this agreement, Venture Factory will take a controlling interest in FinancialDNA in exchange for a minority stake in Venture Factory Inc.
NEW YORK — Digital Launch Inc. (OTCBB: LNCD), announced that agreement has been reached to acquire Global e Tutor.com Inc., an Atlanta-based Internet company specializing in children’s education. Global e Tutor.com is a web-based interactive video-on-demand tutoring service offering math, English, science and history tutoring to K-12 students worldwide. Digital Launch Inc. says it will sell its Veronique skin care business for the assumption of the liabilities in order to develop the company’s e-commerce business. The transaction to acquire Global will follow a planned 1 for 2 reverse split of the Digital Launch Inc. common stock. The current officers and directors of Digital Launch Inc. will resign following the appointment of new officers and directors.. The closing of these transactions is scheduled for early February 2000.
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