FYI, more capital for Wit equals more ability to underwrite offerings (and hopefully upgrade their servers/customer support too):
^ MEDIAONE BUYS INTO WIT CAPITAL...In a continuing sign of the convergence of media, money and information services on the Net, pioneering Silicon Alley online investment bank Wit Capital received an equity investment from Media One Group. Financial terms of the deal were not announced but Wit did announce that the new money, coupled with cash previously invested by Draper Fisher Jurvetson, Mitsubishi, and private investors like Wit chairman Robert Lessin, brings to $21 million the total venture backing rounded up by Wit.
For cable company MediaOne the deal is part of a push to help develop services which can ultimately be offered to subscribers of its high speed Internet access service, MediaOne Express. MediaOne Express, which will be merged this year with Time Warner's cable modem operation, has also invested in other potential content providers, including Preview Travel, Autobytel.com, Women.com, Quokka Sports, IPIX, and Liquid Audio. |
