[4] HoopsTV.com Raises $20 Million in Second Round of Funding: Safeguard Scientifics, Inc. and Footstar, Inc. Lead Funding.Business Editors ROSEMONT, Penn.--(BUSINESS WIRE)--Dec. 21, 1999 HoopsTV.com (www.hoopstv.com), a 24-hour basketball network featuring playground, college and pro content not available anywhere else, today announced that it has raised $20 million in its second round of funding. The round was led by Safeguard Scientifics, Inc. (NYSE NYSE See: New York Stock Exchange : SFE See Sydney Futures Exchange. ), an Internet-centric holding company focused on e-commerce, e-business solutions and e-communications, and Footstar, Inc. (NYSE: FTS FTS facteur thymique sérique. ), one of the largest specialty footwear Footwear consists of garments worn on the feet. It is worn for a variety of reasons, including protection against the environment, hygiene and adornment. Usually, socks and other hosiery are worn between the feet and the footwear, except for sandals and flip flops (thongs). retailers in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The financing will be used to build and market the brand, develop operations infrastructure, and increase sales initiatives. "This investment brings to HoopsTV.com leaders in both the Internet and sports communities and will help to drive our growth," said Seth Berger, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , HoopsTV.com. "It also provides HoopsTV.com with a strong capital base to further our expansion as a leading Internet destination for the basketball audience. In addition, the management of both Safeguard and Footstar will add experience and expertise that we welcome as we work to build HoopsTV.com." "HoopsTV.com represents a new and forward use of Internet technology to reach a broad and passionate demographic," said Harry Wallaesa, President and COO (Cell Of Origin) See mobile positioning. of Safeguard Scientifics, Inc. "Safeguard is excited to welcome HoopsTV.com to its partnership of Internet-centric companies that offer community, content and commerce." "This partnership represents an exciting opportunity for Footstar," said Mickey Robinson, Chairman and Chief Executive Officer of Footstar, Inc. "HoopsTV.com provides us with a strategic e-commerce platform that directly reaches our target audience." HoopsTV.com's first round of funding included backing from AND 1, a $100 million basketball shoe and apparel manufacturer, and TA Associates, a Boston-based private equity investor. TA Associates manages $3.5 billion in capital and has investments in other Internet companies including Direct Hit, Andover.net, Datek Online Holdings and The Island ECN (Electronic Communications Network) A computerized, private financial trading system. Terra Nova Trading (www.terranovatrading.com) and Instinet (www.instinet.com) are examples. . About HoopsTV.com Headquartered in Rosemont, PA, HoopsTV.com (http://www.hoopstv.com) transforms a computer into a 24-hour basketball network. HoopsTV.com is devoted to the basketball player and to delivering a world of basketball that no one else is covering from the playground to colleges to the NBA NBA abbr. 1. National Basketball Association 2. National Boxing Association NBA (US) n abbr (= National Basketball Association) → Basketball-Dachverband (= . If basketball is your religion, HoopsTV.com is your Church. HoopsTV.com has entered into strategic partnerships with leading providers of e-tail, media, content and technology including: Footaction USA, Akamai Technologies Akamai Technologies, Inc. (NASDAQ: AKAM) is a company that provides a distributed computing platform for global Internet content and application delivery, headquartered in Cambridge, Massachusetts. , Inc., Small World Inc., and WebLinc. About Safeguard (www.safeguard.com) Safeguard is an Internet-centric holding company which identifies, acquires, operates and manages business-to-business companies and has interests in several private equity funds. Safeguard currently focuses on companies engaged in e-commerce, e-communications, and e-business software and services. Safeguard generally acquires ownership interests in companies that allow it to have a significant influence over their direction and management over the long-term. Safeguard assigns Individuals to whom property is, will, or may be transferred by conveyance, will, Descent and Distribution, or statute; assignees. The term assigns is often found in deeds; for example, "heirs, administrators, and assigns to denote the assignable nature of a dedicated team to each partner company and actively assists its partner companies in their management, operations and finances. Safeguard seeks to maximize shareholder value by actively providing operational assistance and expertise to help its partner companies grow and develop and by giving its shareholders the opportunity to participate in the initial public offerings of its partner companies while retaining a significant ownership interest after the initial public offering. Its network of partner companies and private equity funds creates an environment through which companies can leverage one another's information technology, operational experience, business contacts and industry expertise. About Footstar Footstar is one of the largest specialty footwear retailers in the United States, comprised of two complementary businesses: Footaction and Meldisco. Footaction is a national chain of 546 mall-based branded athletic footwear and apparel stores. Meldisco is a market leader in discount footwear, operating 2,495 leased shoe departments primarily in Kmart stores across the country. |
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