BizRate.com Secures $50 Million During Third Round of Funding; Additional Monies Enable BizRate.com to Expand Its E-Commerce Operations.Business Editors LOS ANGELES--(BUSINESS WIRE)--March 6, 2000 BizRate.com, the Internet's leading shopping and merchant rating guide, today closed its third round of financing by securing an additional $50 million in venture capital funding. BizRate.com's external funding totals $77 million since the company's first round of financing in May 1998. The majority of third-round funding was secured from previous BizRate.com investors, including crossover investment firm Attractor providing an additional $15 million. Other previous investors increasing their support include Access Technology Partners LP, an affiliate of Chase H&Q Capital Partners, Media Technology Ventures, Mission Ventures and Vignette. New financial backers invested a combined total of $20 million include HarbourVest Partners, Ocean Avenue Investors LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and Westway Capital LLC. "The additional funding allows BizRate.com to strengthen our leadership position as the most trusted e-commerce resource for online shoppers," said Chuck Davis  This article or section contains information about one or more candidates in an upcoming or ongoing election.Content may change as the election approaches. Charles E. , 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 BizRate.com. "As the BizRate.com brand evolves, we'll expand our breadth of services to foster efficient and empowering relationships between online buyers and sellers." Monies generated in this round will be used to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. BizRate.com's first-mover advantage First-mover advantage is the advantage gained by the initial occupant of a market segment. This advantage may stem from the fact that the first entrant can gain control of resources that followers may not be able to match. and bolster its position as the industry's leading online marketplace. Additionally, funds will be used to develop BizRate.com products and services, deepen staff and support national marketing efforts. "BizRate.com is one of the most promising infomediaries we have seen in the e-commerce space," said Harvey Allison of Attractor. "BizRate.com's business model continues to accelerate and this round will allow the company to maximize its huge, near-term opportunities." About BizRate.com Founded in 1996, BizRate.com (http://www.bizrate.com) is an independent rating guide built on the experience of millions of actual online buyers. The BizRate.com site combines valuable consumer information with a powerful set of shopping tools that help people find the store or product they want, as well as offers recommendations based on user-specified criteria. BizRate.com is the only company trusted by more than 3,600 e-businesses to collect this direct consumer feedback and transactional information at the point of every purchase. The online store performance ratings See benchmark. , derived from this data, denote the only statistically rigorous way of differentiating retailers on "quality of service" metrics. BizRate.com's ratings appear on Consumer Reports Online and Consumer Reports magazine, as well as AltaVista, Go2Net, GO Network, Microsoft Network See MSN. Microsoft Network - The Microsoft Network , Snap, Citibank, iChoose, Brodia, Dealtime and CNET (body) CNET - Centre national d'Etudes des Telecommunications. The French national telecommunications research centre at Lannion. . |
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