Asimba.com Secures $18.5 Million in Third-Round Funding; Leading Sports and Fitness Lifestyle Site Bucks Marketplace Trend by Strengthening Itself for Next-Stage Growth.Business Editors and High Tech Writers REDWOOD CITY Redwood City, city (1990 pop. 66,072), seat of San Mateo co., W Calif., on San Francisco Bay; inc. 1868. Manufactures include commmunications, electrical, electronic, and medical equipment. , Calif.--(BUSINESS WIRE)--Aug. 22, 2000 Asimba, the Internet's leading sports and fitness lifestyle site (www.asimba.com), today announced that it raised $18.5 million in third-round funding. The funding further solidifies Asimba's category leadership position and demonstrates the venture capital communities' confidence in the company's long-term viability. McCown De Leeuw & Co., Inc. (MDC (1) (Mobile Daughter Card) See riser card. (2) See Meta Data Coalition. ), backers of 24 Hour Fitness health clubs, led the `series C' round and was joined by i-Hatch ventures, an Internet investment specialist. Asimba's lead investor CMGi@Ventures also participated in the latest round, along with previous investors Global Retail Partners and Fayez Sarofim Fayez Sarofim (Arabic: فايز ساروفيم) is a Coptic Egyptian American fund manager for a number of Dreyfus family stock funds. He is divorced with 5 children, and lives in Houston, Texas. & Co. Recently named "Best of the Web" by Forbes, U.S. News and World Report and Brill's Content, Asimba offers its 700,000 registered members custom training programs and nutrition plans, gear guides and event locators, all designed to help people lead more active lives. Asimba will use the funding to develop new product applications and launch additional revenue generating capabilities. These include the Asimba Store, which will become the Internet's most comprehensive sporting goods Noun 1. sporting goods - sports equipment sold as a commodity commodity, trade good, good - articles of commerce sports equipment - equipment needed to participate in a particular sport exchange, as well as paid nutrition and personal training programs. MDC complements Asimba's strategy of bringing fitness programs to all of the places where people workout Workout Informal repayment or loan forgiveness arrangement between a borrower and creditors. workout 1. The process of a debtor's meeting a loan commitment by satisfying altered repayment terms. . MDC's portfolio company Fitness Holdings Worldwide, operates 24 Hour Fitness, the largest fitness chain operator in the world. "Asimba approached us as a value-added investor given our expertise, knowledge and relationships in the fitness industry," said Phil Collins, managing director at MDC. "It is another example of how MDC can leverage brick-and-mortar assets with the Internet and support an existing portfolio company through a strategic Internet partnership." "We are pleased that such strong investors from the venture capital and corporate communities have joined us to help make Asimba's services as integral to people's lives as eating and sleeping," said Kurt Schneider
Kurt Schneider (1887–1967) was a German psychiatrist known largely for his writing on the diagnosis and understanding of schizophrenia. , president and 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. of Asimba. "They obviously believe that Asimba is in a position to strengthen its category leadership." About McCown De Leeuw & Co., Inc. McCown De Leeuw & Co., Inc. (MDC) is a private equity investment firm with approximately $1.2 billion of capital under management. With a mission to "Build Companies that Make a Difference," MDC specializes in buying and building industry-leading middle-market companies in partnership with management. Since 1984, MDC has completed 37 platform acquisitions, creating companies that today collectively generate in excess of $6 billion in annual sales. The firm currently has 21 investment professionals in its two offices located in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. and Menlo Park, California Menlo Park is a city in San Mateo County, California in the United States of America. It is located at latitude 37°29' North, longitude 122°9' East. Menlo Park had 30,785 inhabitants as of the 2000 U.S. Census. . About Asimba Asimba is the Internet's leading sports and fitness lifestyle site. With 700,000 members, Asimba empowers active-minded people to reach their personal goals in general fitness, participatory sports, recreational outdoors, and personal nutrition. By integrating expert advice and community support with personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. programs and buying guides, Asimba has become the most comprehensive online resource for people living a sports and fitness lifestyle. Asimba, voted a Forbes Favorite "Best of The Web", is a CMGi@Ventures company with headquarters in Redwood City, Calif., and can be found at www.asimba.com. |
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