ClubMom Announces Completion of $36 Million Financing to Celebrate and Reward Moms; Ann Fudge and Shelly Lazarus, World Class Marketing Executives, Join Board.

Business/Technology Editors

NEW YORK--(BUSINESS WIRE)--July 31, 2000

ClubMom, Inc., the free national membership organization for Moms, today announced the closing of a $36 million second round of financing led by Sylvan Ventures, Highland Capital Partners, Draper Fisher Jurvetson, Himalaya Capital Partners, Shamaya and Davidi Gilo, Perseus L.L.C., and several other investors.

"This round of funding will allow us to fully focus on the launch of our cross-category loyalty program, finalize deals with additional major corporate partners, and continue to build the already 1.4 million membership base," said Sara Levinson, Chief Executive Officer of ClubMom. "We look forward to working with Sylvan and the other investors as well as our new Board members to create the most powerful affinity group in history: Moms."

Moms control 80% of all personal and household spending, which totals over $1.6 trillion annually. Through a unique and powerful business model that recognizes Mom as CEO of the household, ClubMom offers member Moms rewards for offline purchases with partner retailers, consumer packaged goods companies, and service providers. Created to celebrate and reward Mom for what she does every day, ClubMom also provides Moms with relevant and customized information and online tools, connections to other Moms, and the opportunity to make a difference.

"With its strategic investment in ClubMom, Sylvan Ventures joins its premier education brand together with ClubMom's other leading corporate and consumer brands to deliver valuable content and services to millions of Moms nationwide," said Doug Becker, CEO of Sylvan Learning Systems and new Board Member of ClubMom. "This partnership will give millions of Moms the ability to make better decisions with increased resources in the education arena."

Joining Dan Nova, Highland Capital Partners; John Fisher, Draper Fisher Jurvetson; Shamaya Gilo, Winds of Change Foundation; and Doug Becker on the ClubMom Board are two of the nation's foremost marketing executives: Ann Fudge, President of Kraft Foods' Maxwell House Coffee and Post Cereal Divisions and Shelly Lazarus, Chairman Ogilvy & Mather Worldwide. Recognized by Fortune among the Top 50 Most Powerful Women, Fudge and Lazarus will help guide ClubMom to deliver significant value to consumers and corporate partners.

"Moms will finally be able to benefit from their shared economic power through ClubMom," said Ann Fudge. "This organization will provide a platform for Moms to leverage this extraordinary marketplace power, and will deliver significant economic value to members."

"Moms are a key audience and customer for the overwhelming majority of consumer brands. ClubMom will provide marketers with a fresh way of reaching this crucial audience," said Shelley Lazarus.

"The size of this round of funding in a tightening capital market combined with the quality of the investors reflects the strong leadership of Sara Levinson, the power of the idea, and the quality of the business plan," said Dan Nova.

ClubMom is led by ChairMom and Chief Executive Officer Sara Levinson, former President of NFL Properties Inc., the licensing, marketing and sponsorship division of the National Football League and President of MTV, Business Director before joining the NFL. ClubMom was co-founded by a dynamic group of seven, including actor and non-profit leader Andrew Shue and entrepreneur Michael Sanchez, who together founded the youth leadership organization "Do Something"; Vice President, Content/Editor-In-Chief Nicola Godfrey, previously Editor-in-Chief of Working Mother magazine; Liz Dolan, a host of the new public radio series Satellite Sisters and former Corporate Vice President and Director of Global Marketing at Nike; Mark Goldston, CEO of NetZero; NancyJane Goldston, Managing Partner, UXB, The Unexploded Brand; and Meredith Vieira, co-host of the popular daytime talk show "The View."