VC Buzz – $82.8+ Million in Today’s Deals

For the latest on cool Internet Start-Ups and their VC
backers, point your browser to: http://www.internetVCwatch.com/



 


New in the
News



ActiveUSA.com, AllBusiness.com, CarrierPoint, Cybergold, eWanted.com, fourthchannel, GlobalSpec.com, Goal Media Group, Interactive Music, Keylime Software, LavaStorm, LeagueLink, LIDO.com, Mondera.com,
NetCommerce,
NeuVis,
OnHealth Network, Pacfusion.com, Piedmont Venture Partners, PurchasingCenter.com, Safeguard Scientifics, Space.com, Step 9 Software, SuccessFactors.com, Venturehouse Group, XSAg.com



 






GlobalSpec.com Announces $20 Million
Financing Plan



TROY, N.Y.– GlobalSpec.com, an Internet resource for
engineers and other technical buyers, announced a $20
million financing plan with Warburg, Pincus Equity
Partners LP, an investment fund managed by E.M. Warburg,
Pincus & Co. of New York. The investment, which will
be staged based upon certain undisclosed conditions, will
finance GlobalSpec.com’s ongoing expansion of product
offerings, advance its customer acquisition program and
expedite its recruitment schedule.


http://www.GlobalSpec.com







XS Inc. Secures $20 Million



RESEARCH TRIANGLE PARK, N.C.– XS Inc., parent company
of XSAg.com, an e-commerce exchange site for trading
agricultural products, has entered into definitive
agreements with Morgan Stanley Dean Witter Private Equity
for a $20 million round of financing to fund the rapid
expansion of the company. Launched in January, XSAg.com
is expected to process $100 million in transactions next
year.


http://www.xsinc.com






RaceGate/ActiveUSA Announces Terms of
Ticketmaster Online-CitySearch Financial Investment



LA JOLLA, Calif. — RaceGate.com and ActiveUSA.com,
who recently announced plans to merge to create an
Internet recreational sports community, announced terms
of an investment and distribution relationship with
Ticketmaster Online-CitySearch (Nasdaq:
TMCS). TMCS
is paying $15.5 million for a 19 percent stake in the
combined company ActiveUSA.com and will gain a seat on
its new board of directors. The new ActiveUSA.com will
gain TMCS as a distribution channel for its licensed
content through the citysearch.com local portal network
of city guides.


http://www.racegate.com


http://www.activeusa.com






OnHealth Network Completes $14.7
Million Financing



SEATTLE — OnHealth Network Co. (Nasdaq: ONHN), an
online health and wellness destination for consumers,
completed the sale of 2,100,000 shares of common stock at
a price of $7.00 per share for net proceeds of
$14,675,000. The shares were placed directly by the
company with Van Wagoner Funds, an existing
shareholder.


http://www.onhealth.com






NetCommmerce Completes $5M
Financing Agreement



FRANKFURT, Germany– NetCommerce Inc. (OTCBB:NEET) has
entered into a definitive financing agreement with
Quantum Securities to effect a private placement of up to
$5 million of its securities on the European markets. The
agreement with Quantum Securities follows last month’s
listing of NetCommerce stock on the Frankfurt Stock
Exchange.


http://www.netcommerceinc.com


http://www.quantum-securities.com






PurchasingCenter.com Secures $3
Million of Additional Financing



BURLINGTON, Mass. — PurchasingCenter.com, a
business-to-business portal focusing on the $187 billion
industrial supplies market, secured an additional $3
million of financing from Comdisco Ventures, a division
of Comdisco Inc. PurchasingCenter.com successfully
launched its e-commerce site last month with $5 million
raised from Bessemer Ventures Partners and Charles
River.


http://www.purchasingcenter.com






LeagueLink Announces $2.6 Million
Financing Round



WESTMINSTER, Colo. — LeagueLink Inc., which has built
an Internet technology platform for recreational sports
leagues, secured $2.6 million in venture financing. New
World Ventures, which led the round, was joined by KB
Partners and previous investor Perfect World
Technologies.


http://www.leaguelink.com






Keylime Software Receives $2M
Investment



SAN DIEGO– Keylime Software Inc., an emerging
provider of e-business analysis services, announced an
investment of $2 million from HNC Software Inc.
(Nasdaq:
HNCS), a
provider of predictive customer relationship management
solutions. Keylime has developed a unique, real-time
e-business analysis service, slated to launch in the
first quarter of 2000. The two companies are also
collaborating on a new generation of services that allow
Web site providers to deliver immediate, personalized
content to their e-visitors, leveraging Keylime’s live
session data feed.


http://www.keylimesoftware.com


http://www.hnc.com






Martlet Venture Management Invests in
Goal Media Group



MONTREAL– Martlet Venture Management Ltd. (ASE:MVM)
made a strategic investment in Goal Media Group Inc. Goal
Media Group owns and operates www.goalnetwork.com, an
online network for soccer fans, offering match results,
news, exclusive stories and feature coverage from a
worldwide network of top international soccer
journalists. The site will also feature the world’s
largest online soccer store, online auctions of soccer
memorabilia and community services, including message
boards, chat and free home pages and e-mail accounts.

In other news, Keir Radnedge was named as
executive editor. He joins Goal Media Group from
Britain’s The Daily Mail, where he is deputy chief
sub-editor (sport) and international football
correspondent. He also serves as executive editor of
World Soccer, the leading English-language monthly soccer
magazine with worldwide distribution, and has reported on
every World Cup since 1966.


http://www.martlet.com


http://www.goalnetwork.com






Step 9 Wins Major Funding Round



FALLS CHURCH, Va. — Step 9 Software Corp. announced
the completion of its first major funding round. Step 9
is a developer of web-enabled pre-integrated Operation
Support System software solutions for next generation
telecommunication service providers. The financing was
led by Rowny Capital, with participation by The eMedia
Club. Rowny Capital is a private equity company founded
by Michael Rowny, who has extensive private equity
experience and a broad telecom background with MCI. With
MCI WorldCom, he was President and CEO of International
Ventures, Alliances, and Correspondent. He was also
chairman of Embratel, Brazil’s major long distance and
internet carrier.


http://www.step9.com






Internet Fact of the Day



Businesses lost $1.6 billion on-line last year by
failing to Web-enable their customer service operations.
According to a new research report by global market
analysis firm Datamonitor, this amount could double to
$3.2 billion by this Christmas.






Pacific Internet Forms Dot.com
Division



SINGAPORE– Internet service provider Pacific Internet
(NASDAQ:
PCNTF) formed
Pacfusion.com, a new business division that will focus
exclusively on e-business. The ISP aims to spin off
Pacfusion.com into the region’s dominant e-business
enterprise in the next 18-24 months. In October 1999
Pacific Internet’s board of directors authorized US$54
million for Pacfusion.com. Pacific Internet plans to also
inject infrastructure, applications development and all
of its portal business including its homepage into
Pacfusion.com. It is looking to strategic partners and
venture capital funds to contribute an additional US$100
million.





Washington Area Gets New Venture
Group



WASHINGTON– A new company based in the greater
Washington, D.C. entrepreneurial community that will
create, invest in and help build technology start-ups was
announced. The company, Venturehouse Group, will be
headed by Mark Ein, formerly of The Carlyle Group, and
includes an initial group of investors including local
technology entrepreneurs Jeong Kim, Alex Mandl and Raj
Singh. The firm will have an initial investment pool of
at least $50 million. Ein said the new company would not
only provide early stage financing to young private
companies, but also would serve as business partners,
offering strategic guidance, infrastructure support and
facilitate other professional services including legal,
accounting, recruiting and marketing.


http://www.venturehousegroup.com






LIDO.Com Partners with FindLaw to Deliver
Medical Images



ATLANTA– LIDO.com, a business unit of adam.com, Inc.
(Nasdaq:
ADAM), and an
Internet-based provider of content and tools for
medically-related legal matters, together with FindLaw,
Inc., a Web portal devoted to law and government,
launched the Medical Images Center
(http://medpics.findlaw.com), a comprehensive resource of
medical images for legal professionals. The
LIDO.com-powered Medical Images Center offers FindLaw
users access to medically accurate illustrations,
graphics and support tools for case preparation. FindLaw
users have free access to search and preview over 10,000
medical illustrations and trial exhibits from the
LIDO.com database. FindLaw is backed by @Ventures, Amicus
Investments, Angel Investors LP, Arba Seed Investment
Group and Glasser Legal Works.


http://www.findlaw.com


http://www.lido.com






eComAgents Becomes NeuVis Inc.



SHELTON, Conn.– Formally announcing its presence in
the e-business solutions marketplace, eComAgents, a
leader in architected e-commerce development, changed its
name to NeuVis Inc. NeuVis provides fully integrated,
vertically focused, e-business systems and solutions for
buyers, sellers and marketplace/exchanges. The company
closed two rounds of funding in the third quarter of this
year, including investments from Connecticut Innovations
and Seligman Funds.


http://www.neuvis.com






Interactive Music to Acquire
zebramart.com



NEW YORK– Interactive Music Inc. (OTCBB: SONG)
announced that the company has entered into a Letter of
Intent to acquire 88% of the issued and outstanding
shares of zebramart.com Inc. The parties are to have
executed a definitive stock purchase agreement by Nov.
24, 1999 with an anticipated closing of Dec. 3, 1999.
zebramart.com aims to be an exclusive lifestyle e-tailer
with a members only format. The grand opening is Dec. 1,
1999


http://www.zebramart.com


http://www.Netmusicschool.com






Cybergold Acquires SmartFrog.com



OAKLAND, Calif.– Cybergold Inc. (Nasdaq:CGLD) has
acquired the assets of SmartFrog.com Inc., a privately
held Internet company specializing in cash-back rewards
for “frequent-buyers.” SmartFrog.com is Cybergold’s first
business acquisition, following less than two months
after Cybergold’s initial public offering. Financial
terms of the deal were not disclosed. SmartFrog.com
brings Cybergold the technology and expertise behind its
cash back program at more than 100 online shopping sites
including jcrew.com, CDNOW, and borders.com. SmartFrog.
raised seed money from Benjamin Cohen, founder and former
chief executive of Logic Works.





SuccessFactors.com and Austin-Hayne to
Merge



SAN FRANCISCO– SuccessFactors.com, a provider of
web-based solutions that help Fortune 1000 companies
optimize their workforce capabilities, and Austin-Hayne,
a provider of performance management software, announced
their intent to merge. Under terms of the agreement the
companies intend to combine to form one company, which
will be headquartered in San Mateo, and will retain the
SuccessFactors.com name. The board of directors and
investors of both privately owned companies have approved
the merger. SuccessFactors.com is backed by Foundation
Capital, Institutional Venture Partners and Canaan
Partners. Accel Partners and Greylock Management Corp
back Austin-Hayne.


http://www.austin-hayne.com


http://www.successfactors.com






EGL Holdings and Piedmont Venture
Partners Announce Strategic Alliance



ATLANTA — EGL Holdings of Atlanta and Piedmont
Venture Partners of Charlotte announce a formal alliance
between the firms, creating a comprehensive array of
private equity and investment banking services in the
Southeast. The joint venture will allow the firms to
capitalize on both early and later stage investment
opportunities as well as to offer true merchant banking
capabilities to their clients and portfolio companies.

 





Who’s Who &
Where



fourthchannel Hires Mike Brannan as VP
of Engineering



COLUMBUS, Ohio–fourthchannel inc., a rapidly-growing
Internet commerce application software and service
provider appointed Mike Brannan to the position of
vice president of engineering. Before joining
fourthchannel, Brannan was a principal at the Columbus,
Ohio, Whittman-Hart branch office where he managed the
company’s Internet consulting division. fourthchannel,
founded in 1997, is a privately-held, venture capital
backed company.


http://www.fourthchannel.com






eWanted.com Appoints Jack Lynch as COO
and Board Member



SANTA CLARA, Calif.– eWanted.com, an “upside down”
auction site, named Jack F. Lynch as the company’s
chief operating officer. Lynch, who will also serve on
the company’s board of directors, joins eWanted from
Austin-based Vignette Corp., where he served as the vice
president of finance and operations and secretary.
eWanted.com is backed by private investors.


http://www.ewanted.com






Four Top Executives Join Space.com



NEW YORK–Space.com chairman and CEO Lou Dobbs
announced the appointment of John Ferrara,
Robert Zeller, Mark Cutsforth and Toni
DiMartino
to Space.com’s management team. Ferrara has
been named chief financial officer, Zeller joins as vice
president of business affairs and general counsel,
Cutsforth comes on board as vice president of technology
and DiMartino has been selected as director of public
relations. Venrock Associates and Greylock have provided
equity backing.


http://www.space.com






AllBusiness.com Adds To Its
Executive Line Up



SAN FRANCISCO — AllBusiness.com, a virtual partner
for small and growing businesses, appointed Scott
Waltz
as chief marketing officer. Waltz brings more
than 13 years of branding and relationship marketing
experience to AllBusiness.com. Previously, he worked
under the same title for San Francisco based relationship
marketing firm, Miller/Huber Relationship Marketing.
AllBusiness.com is financed by Canaan Partners, Intel
Corp., Technology Crossover Ventures, Venture Strategy
Group and other venture and corporate investors.


http://www.allbusiness.com






Doug Martin Named CFO for
CarrierPoint



ATLANTA — CarrierPoint Inc. announced the appointment
of Doug Martin as the company’s chief financial
officer. Prior to joining CarrierPoint, Martin served as
executive vice president and chief financial officer of
The Prudential Bank, the retail banking operation of The
Prudential Insurance of America. CarrierPoint recently
closed its
first round
funding
.


http://www.carrierpoint.com






Mondera.com Adds to Senior Marketing
Management Team



NEW YORK — Mondera.com, a luxury e-tailer offering
superior quality diamonds, fine jewelry and luxury items
sourced from around the world, announced the appointment
of three senior level executives, Jill Vollmer,
vice president of brand marketing; Leonard
Gilbert
, vice president interactive marketing; and
Marla Nitke, director of marketing
communications.


http://www.mondera.com






Safeguard Scientifics Names Dan
McKinney Vice President



WAYNE, Pa.– Safeguard Scientifics Inc. (NYSE:
SFE), an
operating holding company focused on Internet
business-to-business companies, announced the appointment
of Dan McKinney as vice president. He will be
responsible for evaluating, acquiring, and developing
partner companies for the e-commerce arm of Safeguard’s
Internet-centric strategy.


http://www.safeguard.com






LavaStorm Expands to San Jose



Boston, MA LavaStorm announced that it has expanded
its operations by opening a West Coast headquarters in
San Jose, CA. The office will be located at 2033 Gateway
Place, Suite 500. Hummer Winblad Venture Partners
recently
invested
$10 million
in the company.


http://www.lavastorm.com






Do you think YOUR cool company ought to be featured in
a VC Watch column?


Then go here …


http://www.flashbase.com/forms/VCWatch


… and tell us all about
yourself.






GET
BUZZED!



VC Buzz, that is.

The latest buzz on the daily deals coming down in the
femtosecond pace of the Venture Capital world

VC Buzz brings you the latest on who’s gotten their
funding and from whom, what’s happening at the VCs and
who’s just swallowed whom in the maniacally fast, deadly
serious Darwinian scramble for Internet success and
dominance.

Don’t get trampled by the herd … stay ahead with VC
Buzz, delivered every business day to your e-mail box.

Check it out online or
SIGN
UP
get it delivered
FREE every day to your e-mail. When you sign up, scroll
down to the “Internet Stocks Channel” subhead and check
the VC Buzz box.

News Around the Web