@Ventures Leads Financing Round for Productopia, An Online Consumer
Product Information Guide
SAN FRANCISCO, AND ANDOVER, MASS. (May 25) BUSINESS WIRE -May 25,
1999--@Ventures III, the affiliated venture capital arm of CMGI, Inc.
(Nasdaq:CMGI), today announced a lead investment in a $6 million
initial round of financing for Productopia, Inc., the Internet's first
source of unbiased product advice for today's consumers.
More than 80% of Web-users make the Internet their first stop when
researching and purchasing goods and services, according to CBS
MarketWatch's February poll. Productopia, (http://www.productopia.com)
provides these discriminating shoppers with comprehensive and
independent evaluation of product value, features and benefits for
everything from sporting goods to car seats, CD players and more. With
an expert editorial staff that provides accurate and objective
third-party assessments of product features in dozens of merchandise
categories, the site simplifies product research for busy consumers.
"Productopia provides a valuable service for everyone who uses the
Internet for information on a product purchase. More importantly, it
takes this compelling content and wraps it in great e-commerce guide,"
said Brad Garlinghouse of @Ventures. "It is both a valuable source of
information and reviews and a convenient way to shop."
Based in San Francisco, Productopia was founded in July 1998 by Roger
Neal, former executive director and general manager at America Online,
and Rob Novotny, previously of Netscape, Kidsoft and Go Corp. The
company's Web-based product guide is currently in development with
partners that include Netscape and AOL's Digital City.
"Consumers are turning to Productopia for easy access to product
information and independent advice on what to buy. Once they make a
decision, they look for a retailer in order to make their purchase,
making Productopia a natural source of merchant referrals," said Roger
Neal, founder, president and CEO of Productopia. "We are pleased that
@Ventures sees the value in our business model and it is great to be
included in a portfolio that features companies like Lycos, GeoCities,
Critical Path and Silknet."
In addition to providing product research information, Productopia has
partnered with e-tailers to provide users with one-click access to
online purchasing. Productopia's growing list of e-commerce partners
includes Ebay, BestBuy, The Good Guys, Wards, 800.com, BabyCenter,
Crutchfiield.com, FogDog Sports, Imall and netmarket. About
Productopia
Productopia, based in San Francisco, is the Internet's first source of
unbiased product advice for today's consumers. Simplifying and
clarifying purchase decisions for busy people, Productopia's editorial
staff provides free, objective and up-to-date third-party assessments
for the top products in dozens of merchandise categories. Productopia
conveniently offers buyers a comprehensive and independent evaluation
of product benefits, value and style -- for everything from cars to
dishwashers, digital cameras to espresso machines, jeans, watches,
mountain bikes and more.
Productopia presents a clear analysis of product benefits, helpful
advice on making the right choice, and one-click links to additional
information. For the convenience of shoppers and paying merchants,
Productopia also connects buyers and sellers by providing links to
e-commerce sites and to online directories of traditional storefronts
in the shopper's neighborhood. In addition, Productopia provides
shoppers with an unambiguous disclosure of any relationships that may
exist with retailers and manufacturers mentioned on its site.
Additional investors in Productopia include: Amicus Investments; Angel
Investors LLC, the Internet investment fund started by Ron Conway; Arba
Seed Investment Group; Osprey Ventures; Ben Rosen, Chairman of Compaq;
Jonathan Bulkeley, CEO of Barnes and Noble.com; and Sunil Paul, CEO of
BrightLight Technologies. About CMGI
A recognized leader in the Internet economy, CMGI (Nasdaq:CMGI) has
built a substantial base of Internet operating companies and, through
its @Ventures affiliates, has invested in a growing portfolio of
synergistic Internet enterprises which enhance the value of its core
holdings. This unique method of generating equity for its shareholders
is what CMGI calls "creating net value." Microsoft, Intel, Sumitomo and
Gateway hold minority positions in CMGI.
CMGI's majority-owned subsidiaries include Activerse, Adsmart, Engage,
ICast, Magnitude Network, NaviSite, NaviNet, Planet Direct and
ZineZone. The Company's @Ventures affiliates have ownership interests
in Lycos, Inc. (Nasdaq:LCOS), GeoCities (Nasdaq:GCTY), Critical Path
(Nasdaq:CPTH), Silknet (Nasdaq:SILK), Ancestry.com, Asimba, blaxxun,
CarParts.com, Chemdex, eCircles.com, Furniture.com, HotLinks, KOZ.com,
Medical Village, MotherNature.com, NextMonet.com, OneCore Financial
Network, Productopia, Raging Bull, Softway Systems, Speech Machines,
ThingWorld.com, TicketsLive, Universal Learning Technology, Vicinity,
Virtual Ink and Visto.
CMGI is also the majority-owner of SalesLink, InSolutions and On-Demand
Solutions, leaders in the direct marketing, fulfillment and turnkey
arenas. 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
cmgi.com
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