BizBuyer.com Raises $38.5 Million From TMCT Ventures, @Ventures, Redpoint Ventures, eCompanies, Morgan Stanley Dean Witter Ventures and US Venture Partners.SANTA MONICA Santa Monica (săn`tə mŏn`ĭkə), city (1990 pop. 86,905), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1886. Tourism and retailing are important, and the city has motion-picture, biotechnology, and software industries. , Calif.--(BUSINESS WIRE)--Dec. 6, 1999-- TMCT TMCT Trailer Mounted Communications Tower Ventures Leads Round With Times Mirror Executive Vice President and CFO See Chief Financial Officer. Tom Unterman Joining BizBuyer.com Board of Directors BizBuyer.com (http://www.bizbuyer.com), the leading online business-to-business marketplace that connects buyers and sellers of business products and services, today announced that it has raised $38.5 million in third-round financing from leading venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] and financial institutions, as well as from previous BizBuyer.com investors. As a major part of the announcement, BizBuyer.com has named TMCT Ventures partner and Executive Vice President and CFO Tom Unterman to its Board of Directors. Lead investors in this round include TMCT Ventures, the recently formed venture fund by Times Mirror and Chandler Trust; previous investor @Ventures, the venture capital affiliate of CMGI CMGI Commonly Maintained Grounds Infrastructures CMGI College Marketing Group Information (Services) , Inc. (Nasdaq:CMGI); and Redpoint Ventures, the technology-focused venture capital firm formed by Brentwood Venture Capital and Institutional Venture Partners. Additional investors include eCompanies Venture Group, Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. Dean Witter Dean Witter may refer to:
"With $39 billion in business-to-business revenue last year and a target of $1.5 trillion by 2004, BizBuyer.com is clearly in a unique position to profit from this hot sector of the Web," said Tom Unterman, new BizBuyer.com board member. "BizBuyer.com has done an outstanding job of maintaining its first-to-market advantage in the small to mid-size business arena. I look forward to playing an integral role in the rapid development of their core business strategy of building a global marketplace for small and mid-size businesses." Mr. Unterman is a partner with TMCT Ventures and will continue in his role of executive vice president and CFO of Times Mirror through the end of the year. "BizBuyer.com's depth of market know-how and seasoned management team create a winning formula for business-to-business e-commerce," said Brad Jones This article is about the racing driver. For the football goalkeeper, see Bradley Jones. Bradley Jones also known as Brad (born 2 April 1960) is an Australian racing driver formerly competing in the V8 Supercars. , a partner for Redpoint Ventures. "Our investment exemplifies Redpoint's mission in helping to build the next generation of the Internet." "BizBuyer.com has shown impressive growth since its launch in June," said Peter Mills For the British Conservative Member of Parliament, see Peter Mills (UK politician). Peter Mills (born 1943) is an American politician, a Republican from Maine. He was born in Farmington, Maine, and grew up in Maine. , managing partner with @Ventures. "With 53 product and service categories, over 15,000 pre-qualified vendors and leading strategic partners in place, BizBuyer.com has become the de facto [Latin, In fact.] In fact, in deed, actually. This phrase is used to characterize an officer, a government, a past action, or a state of affairs that must be accepted for all practical purposes, but is illegal or illegitimate. source in this emerging market. This latest investment is a reflection of our continued belief in their talented management team and long-term business plan." "The support from this distinguished list of investors significantly extends our leadership position in providing the best, buyer-driven marketplace for small and mid-size businesses," said Bernard Louvat, president, founder 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 BizBuyer.com. "This new financing validates the strength of our business model and gives us the freedom to execute on our vision of revolutionizing the way small and mid-size businesses do business." Founded in September 1998 by Bernard Louvat, BizBuyer.com has rapidly grown into the leading business-to-business marketplace for small and mid-size businesses. Louvat's idea for BizBuyer.com came to fruition out of frustration with the procurement process while setting up shop for Office Depot and the Disney Store in Europe. His vision has turned BizBuyer.com into a one-stop-shop for businesses to efficiently and effectively buy and sell business products and services in Internet time. Since the launch of the site in June 1999, the company has grown to 53 product and service categories with over 15,000 vendors bidding on the purchasing needs of small and mid-size businesses. Strategic partnerships include Qwest Communications, PSINet, UUNET (UUNET Technologies, Inc., Fairfax, VA, www.uunet.net) Founded in 1987, UUNET was the first commercial Internet service provider. Originally offering e-mail and news, it became a full Internet service organization providing dial-up and leased line accounts as well as archive space for and PageMart Wireless. The BizBuyer.com Community The BizBuyer.com community revolves around the simple idea of connecting buyers with qualified vendors. Buyers and sellers are brought together through an online marketplace that allows small to mid-size businesses to find qualified sellers, compare quotes and make informed purchasing decisions, saving valuable time and money. For the first time, buyers have the opportunity to drive the purchasing process by anonymously reviewing vendor qualifications and other members' reviews before requesting contact with the vendor. Buyers do business with the vendors they choose under their own terms. For vendors, BizBuyer.com provides qualified sales leads, reduces customer acquisition costs and expands sales capacity. About BizBuyer.com Headquartered in Santa Monica, Calif., with offices in Silicon Valley, BizBuyer.com is the leading business-to-business marketplace where buyers and sellers meet to buy and sell business products and services. The site offers small to mid-size businesses an online marketplace from which to purchase products and services through competitive quotes from thousands of pre-qualified vendors. The BizBuyer.com community currently offers more than 15,000 vendors registered to quote on 53 product and service categories from 16 vertical markets. These include: computer services and equipment, telecommunications services, Internet services, business consulting, IT consulting, travel and transportation, insurance, financial services, HR and personnel services, office services, legal services legal services n. the work performed by a lawyer for a client. , office equipment and supplies, real estate services, sales, marketing and creative services and international services. BizBuyer.com's private investors include TMCT Ventures, CMGI's @Ventures, Redpoint Ventures, eCompanies Venture Group, Morgan Stanley Dean Witter Ventures, US Venture Partners and a host of angel investors that includes eBay's Meg Whitman. About TMCT Ventures Recently formed TMCT Ventures, LP has invested in 18 high growth companies, almost all of which are Internet based businesses. Companies it has invested in include Sandpiper sandpiper, common name for some members of the large family Scolopacidae, small shore birds, including the snipe and the curlew. Sandpipers are wading birds with relatively long legs and long, slender bills for probing in the sand or mud for their prey—all Networks, Northern Light, Cooking.com, ICSA See TruSecure. , PeopleSupport.com, AllAdvantage.com and Agribuys.com. A recent off-shoot from the Times Mirror Company, TMCT Ventures, LP was formed to develop a portfolio of high growth investments. The partners are Tom Unterman, Renee LaBran, Michael Song, Susanna Lee and John Babcock, all of whom are experienced in new media and technology investing. About @Ventures and CMGI With more than 50 companies, CMGI, Inc. (Nasdaq:CMGI) represents the largest, most diverse network of Internet companies in the world. This network includes both CMGI operating companies and a growing number of synergistic investments through its venture capital affiliate, @Ventures. CMGI leverages the technologies, content and market reach of its extended family of companies to foster rapid growth and industry leadership across its network, and the larger Internet economy. Compaq, Intel, Microsoft and Sumitomo hold minority positions in CMGI. CMGI's majority-owned operating companies include Engage Technologies (Nasdaq:ENGA), NaviSite (Nasdaq:NAVI), 1ClickBrands, 1stUp.com, Activate.net, Activerse, Adsmart, AltaVista, iCAST, Magnitude Network, MyWay.com, NaviNet, SalesLink and ZineZone. The company's @Ventures affiliates have ownership interests in Lycos, Inc. (Nasdaq:LCOS (Liquid Crystal on Silicon) A technology used to make microdisplays for rear-projection TVs and head-mounted displays (HMDs). Each LCoS chip hosts a grayscale LCD shutter sandwiched between a cover glass and a mirror. ), Critical Path (Nasdaq:CPTH), Silknet (Nasdaq:SILK), Chemdex (Nasdaq:CMDX), Ancestry.com, Asimba.com, AuctionWatch.com, Aureate au·re·ate adj. 1. Of a golden color; gilded. 2. Inflated and pompous in style. [Middle English aureat, from Late Latin aure Media, blaxxun, BizBuyer.com, Boatscape.com, buyingedge.com, CarParts.com, CraftShop.com, eCircles.com, EXP.com, FindLaw, Furniture.com, Gamers.com, HotLinks, INPHO/HomePriceCheck.com, Intelligent/Digital, KOZ.com, Mondera.com, MotherNature.com, NextMonet.com, NextPlanetOver.com, OneCore.com, ONElist, PlanetOutdoors.com, Productopia, Raging Bull, Speech Machines, ThingWorld.com, Vicinity, Virtual Ink, Visto, Vstore and WebCT. CMGI Corporate headquarters is located at 100 Brickstone Square, Andover, MA 01810. Telephone: 978/684-3600. Fax: 978/684-3814. Additional information is available on the company's Web site at http://www.cmgi.com. About Redpoint Ventures Redpoint Ventures (http://www.redpointventures.com), the technology-focused venture capital firm formed by Brentwood Venture Capital and Institutional Venture Partners, is focused on broadband infrastructure, commerce, and content for the next generation Internet See Internet2. . The company was formed to take advantage of the business shifts catalyzed by the Internet and to combine the partners' expertise into one entity that would best enable success for the firm's portfolio companies. Redpoint has six managing directors: Jeff Brody, Tom Dyal, Tim Haley, Brad Jones, John Walecka, and Geoff Yang. Companies backed by Brentwood and IVP IVP abbr. intravenous pyelogram IVP (Intravenous pyelogram) The use of a dye, injected into the veins, used to locate kidney stones. Also used to determine the anatomy of the urinary system. include Broadband Sports, Excite @Home, Foundry Networks, Juniper Networks, Multilink, Netro, Nextcard, Sandpiper Networks, Stamps.com, Trading Edge, Vitria Technology, and Xylan xylan /xy·lan/ (zi´lan) any of a group of pentosans composed of xylose residues; major structural constituents of wood, straw, and bran. . About eCompanies Established in June 1999, Santa Monica-based eCompanies (www.ecompanies.com) combines an execution-driven Internet incubator, eCompanies LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , with a strategic venture fund, eCompanies Venture Group L.P. eCompanies was created by Sky Dayton, Jake Winebaum, Steve Ledger and Tim Spicer to rapidly launch Internet start-ups that will grow into profitable, long-lasting franchises. eCompanies will provide the essential services start-ups need from a range of disciplines, including strategy, finance, people, creative development, technology, business development and marketing. eCompanies has hired blue-chip executives in each discipline, both from the online and the off-line worlds, so entrepreneurs can tap not just into Dayton and Winebaum's expertise, but a whole team of "second generation" Internet veterans who've done it before. eCompanies' corporate headquarters are located in Santa Monica, Calif. About Morgan Stanley Dean Witter (www.msdw.com) Morgan Stanley Dean Witter & Co. (www.msdw.com) is a global financial services firm and a market leader in securities, asset management and credit and transaction services. The Company has offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , London, Tokyo, Hong Kong and other principal financial centers around the world and 438 securities branch offices throughout the United States. About US Venture Partners US Venture Partners (USVP USVP United States Venture Partners ) (http://www.usvp.com) is a venture capital firm that is dedicated to helping entrepreneurs realize their dreams of building world class companies that are leaders in their industry. Since inception in 1981, USVP has raised approximately $1 billion in equity capital from prestigious institutional investors in six partnerships. Recently, we raised a $275 million fund in January of 1999. To date, over $500 million has been invested in more than 200 early stage companies. Many of these companies where USVP was the "founding" lead investor, such as Sun Microsystems, Stratacom/Cisco, MMC See MultiMediaCard and Microsoft Management Console. Networks, Gymboree, Advanced Cardiovascular Systems/Guidant and Check Point Software, have become the leading companies in their perspective fields. In fact, over 50 USVP portfolio companies are now public companies (see our public portfolio) with an aggregate market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. of over $50 billion and many others have been acquired (see our acquired companies) and become part of industry leading companies. |
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