Boatscape.com Secures $5 Million for `Virtual Yacht Club'; @Ventures Commits Initial Round of Venture Funding to Complete Boating Commerce-Community.BOSTON and ANDOVER, Mass.--(BUSINESS WIRE)--Sept. 27, 1999-- Boatscape.com, a leading provider of e-commerce, information, and community services for the recreational boater, has secured a $5 million initial round of financing from @Ventures, the affiliated venture capital arm of CMGI CMGI Commonly Maintained Grounds Infrastructures CMGI College Marketing Group Information (Services) , Inc. (Nasdaq: CMGI). The capital will be used to fund product development, expansion of sales and marketing activities, and enhanced customer support. Boatscape.com provides the boating community with a home on the Internet. Through the Web site, http://www.boatscape.com, boating enthusiasts can find items for sale or auction, share ideas and experiences with fellow boaters, retrieve relevant information, and donate items on behalf of marine-related charities. By offering boaters an online destination, Boatscape.com has carved out a unique niche in the marketplace and is the only company providing boaters with a dynamic interactive platform and online community. "We are extremely encouraged by the enthusiasm and commitment we have we received from @Ventures," said Jay Wilkins, President and co-founder of Boatscape.com. "This relationship is a significant step for Boatscape.com. Not only does it validate and support our business model and unique services, but it also demonstrates the confidence we have inspired in the investor community. We are excited to be a part of the @Ventures and CMGI family." "By creating a complete commerce and community destination for boating enthusiasts on the Web, Boatscape.com is changing the way boaters learn, interact and enjoy their most passionate hobby," noted Dave Nerrow, General Partner with @Ventures. "The Internet provides unparalleled services and ease of purchase for users, and boaters comprise a uniquely dedicated and highly invested market. We have faith in Boatscape.com's ability to serve their every boating need" Boatscape.com was created to fill the void left by traditional retailers and to expand the scope of services offered to boaters online. There are currently over 55 million Americans participating in recreational boating and yet, very little is offered in the form of online information and commerce. Boatscape.com is pioneering this effort and taking the boating industry in new directions. Unlike other successful e-commerce categories such as auto brokerages and retailing, the $40 billion marine market business is virtually untouched. About Boatscape.com Launched in July 1999, Boatscape.com is an on-line destination - a Virtual Yacht Club - dedicated to the information, community and commerce needs of the recreational boater. Through the Web site, http://www.boatscape.com, boaters can find or list nautical nau·ti·cal adj. Of, relating to, or characteristic of ships, shipping, sailors, or navigation on a body of water. [From Latin nauticus, from Greek nautikos, from items for sale or auction, locate like-minded boaters, share insights and experiences, read great articles, retrieve relevant news and information and donate items on behalf of leading marine-related charities. For more information, contact Boatscape.com at 883 Boylston Street Boylston Street is the name of a major east-west thoroughfare in the city of Boston, Massachusetts and its western suburbs. It begins at its eastern end in central Boston as the continuation of Essex Street at the intersection of Tremont, and forms the southern boundary of Boston - 3rd Floor, Boston, MA 02116. Telephone: (617) 266-3664. Fax: (617) 266-3397. E-mail: info@boatscape.com. About @Ventures and CMGI With nearly 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 operating company A business that engages in transactions with outsiders. and a growing number of synergistic synergistic /syn·er·gis·tic/ (sin?er-jis´tik) 1. acting together. 2. enhancing the effect of another force or agent. syn·er·gis·tic adj. 1. 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 The Internet Economy refers to conducting business through markets whose infrastructure is based on the Internet and World-Wide Web. An Internet economy differs from a traditional economy in a number of ways, including: communication, market segmentation, distribution costs, and price. . Microsoft, Intel, Sumitomo and Compaq hold minority positions in CMGI. CMGI's majority-owned operating companies include Engage Technologies (Nasdaq: ENGA), 1ClickBrands, Activerse, Adsmart, AltaVista, iCAST, Magnitude Network, NaviSite, NaviNet, Planet Direct, 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 an·ces·try n. pl. an·ces·tries 1. Ancestral descent or lineage. 2. Ancestors considered as a group. [Middle English auncestrie, alteration (influenced by .com, Asimba, AuctionWatch, 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, buyingedge.com, CarParts.com, CraftShop.com, eCircles.com, EXP.com, FindLaw, Furniture.com, HotLinks, Intelligent/Digital, KOZ.com, Mondera.com, MotherNature.com, NextMonet.com, NextPlanetOver.com, OneCore.com, ONElist, PlanetOutdoors.com, Productopia, Promedix.com, Raging Bull, Softway Systems, Speech Machines, ThingWorld.com, Vicinity, Virtual Ink, Visto 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. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Statements in this press release regarding CMGI, Inc.'s business which are not historical facts are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the CMGI Annual Report or Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the most recently ended fiscal year. |
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