BSNS WIRE) REPEAT/Boatscape.com Secures $5 Million for 'Virtual Yacht C
REPEAT/Boatscape.com Secures $5 Million for 'Virtual Yacht Club'; @Ventures
Commits Initial Round of Venture Funding to Complete Boating Commerce-Community
Business/Technology Editors
REPEATING...
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, 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, 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,
boatscape.com, boaters can find or list nautical 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 - 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 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. 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), Critical Path
(Nasdaq: CPTH), Silknet (Nasdaq: SILK), Chemdex (Nasdaq: CMDX),
Ancestry.com, Asimba, AuctionWatch, Aureate 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
cmgi.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform
Act of 1995: Statements in this press release regarding CMGI, Inc.'s
business which are not historical facts are "forward-looking
statements" 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 for the most
recently ended fiscal year.
--30--jh/ny*
CONTACT: @Ventures PR
Krista Thomas
978/684-3141
kthomas@cmgi.com
or
Boatscape.com
Shayne Stump
617/266-3664 x. 227
sstump@boatscape.com
KEYWORD: MASSACHUSETTS
INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS TELECOMMUNICATIONS
INTERACTIVE/MULTIMEDIA/INTERNET
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