meVC Draper Fisher Jurvetson Fund I Invests $6 million
in ShopEaze.com
San Francisco, CA - June 5, 2000 - meVC Draper Fisher Jurvetson Fund I,
an information technology venture capital fund providing individual
investors access to venture capital investments (NYSE: MVC), announced
today a $6 million investment in ShopEaze.com, a provider of online
shopping solutions to brick and mortar retailers. Other investors in
ShopEaze.com's second round of venture funding included J. & W. Seligman
& Co. and Wheatley Partners, also an investor in the first round of
financing.
Founded in 1998, by Preston Hefferman, a Silicon Valley entrepreneur,
ShopEaze.com partners with traditional retailers to develop online
shopping services that deliver value to both the retailer and consumer.
With ShopEaze.com's order-entry and tracking technology, retailers can
take online orders from consumers and have orders ready for pick-up when
they arrive. ShopEaze.com also provides e-marketing services and
advertising programs and in-store logistics to retailers.
"meVC is helping us reach our goal of preserving the highly personal
nature of shopping while providing retailers with online ordering
capability to better serve their customers", said Robert Hermanns, CEO
of ShopEaze.com. "Retailers can continue being retailers while shoppers
maintain their personal relationship with their trusted local retail
store."
"ShopEaze.com is a strong B2B play providing e-tailing solutions to
middle market retailers," said John M. Grillos, Chairman and CEO of meVC
Draper Fisher Jurvetson Fund I, Inc. "Managed by an executive team with
great depth and knowledge in the space and markets served, we believe
ShopEaze.com's model is an excellent solution to online shopping for
brick and mortar retailers: a cyber-environment that up to now has
frustrated both retailers and shoppers."
The meVC Draper Fisher Jurvetson Fund I, Inc. closed in March 2000, and
will begin trading on the New York Stock Exchange under the symbol MVC
no later than June 26, 2000. The fund is the first in what will be a
family of meVC venture capital funds created to give individual
investors the ability to diversify their investment portfolios and
participate in private equity investments.
About the meVC Draper Fisher Jurvetson Fund I, Inc.
meVC Draper Fisher Jurvetson Fund I, Inc., an information technology
venture capital fund, was formed through a collaborative effort between
meVC, a Delaware corporation, and Draper Fisher Jurvetson, a leading
venture capital investment firm. The Fund's investment objective is
long-term capital appreciation from venture capital investments in
information technology companies, primarily in the Internet, e-commerce,
telecommunications, networking, software, and information services
industries. Additional information may be obtained by writing to meVC
Draper Fisher Jurvetson Fund I, Inc., 991 Folsom Street, San Francisco,
California 94107, Attention: Secretary or by calling 877-474-meVC
(6382).
About meVC
meVC is the first venture capital investment management firm to provide
all individual investors access to private equity investments. meVC
plans to sponsor a family of venture capital funds that invest in
various venture capital industry sectors and geographic regions. In
March of 2000, meVC launched its first Fund, a $330 million venture
capital fund emphasizing investments in information technology
companies. The Fund will be publicly traded on the New York Stock
Exchange on June 26, 2000 under the symbol "MVC". The company is
headquartered in San Francisco, California, and can be reached via the
Web at www.meVC.com or at 415-977-6150.
About ShopEaze.com, Inc.
Headquartered in Santa Clara, CA., ShopEaze.com, Inc.
(http://www.shopeaze.com) provides a complete turnkey approach to online
shopping for traditional food and drug retailers. With more than 180
years of combined retail experience, ShopEaze.com enables retailers and
manufacturers to extend their brands and customer loyalty via the
Internet, while maintaining the integrity of these bricks-and-mortar
businesses.
ShopEaze.com forms strategic partnerships with both retailers and
manufacturers, while simultaneously meeting the customer's needs through
its suite of comprehensive online services: electronic coupons,
shop-by-recipe, shop-a-meal, customized shopping lists, sample offers
and diet and nutrition updates. ShopEaze.com also provides
consultation in management, marketing, technology and in-store training.
Statements in this announcement other than historical data and
information constitute forward looking statements that involve risks and
uncertainties that could cause actual results to differ materially from
those stated or implied by such forward-looking statements. Potential
risks and uncertainties may include, but is not limited to, recent
changes in senior management, fluctuations in operating results, market
conditions and changes in technology and increased competition. |
