[07-18-99 01:52 PM ET] WECANTALK.COM STRATEGIC ALLIANCE PARTNER, PEOPLELINK, CLOSED $5 MILLION VENTURE ROUND JUNE 14TH*.
*PEOPLELINK ANNOUNCES $5 MILLION VENTURE ROUND LED BY THE BRM Group
Financing To Fuel Expansion of 2.4 Million Member Web Community Network
LOS ANGELES, CA and JERUSALEM, Israel, June 14, 1999 -- PeopleLink (www.peoplelink.com), the leading outsourcer of comprehensive web community solutions and the BRM Group (BRM), the premier venture capital organization for Internet infrastructure firms, today announced the completion of a $5 million venture round.
PeopleLink provides leading web communities and world class enterprises such as, iVillage, Compaq, Starmedia, Earthlink, GTE, Bolt, Thrustmaster and hundreds of other organizations with a variety of integrated services that empower their online communities to connect and communicate. PeopleLink's comprehensive services, including member directories, mailing lists, instant messaging, chat, message boards, and interest groups, provide PeopleLink partners with substantial benefits, chief among them a "stickier" consumer relationship.
As a comprehensive community communications provider, PeopleLink brands its services for partners and manages all operations and technical support. Additionally, PeopleLink collects extensive interest information from its 2.4 million members and generates revenues through targeted advertising, e-commerce and services. "We are extremely excited about our partnership with PeopleLink," said Charlie Federman, BRM Group Managing Director. "The formation and promotion of virtual communities is a fundamental driver for Internet adoption and PeopleLink's comprehensive communication services are essential for enhancing both the community experience and interpersonal interaction."
Mr. Federman, who heads US operations for the BRM Group, will be joining the PeopleLink board of directors. Prior to joining BRM, Charlie was Chairman of Broadview Associates, the high-tech industry's leading investment bank for the global IT industry. BusinessWeek has selected Charlie as one the twenty-five most influential individuals in Silicon Valley.
BRM invested in PeopleLink as part of its Internet Infrastructure strategy. This strategy focuses on creating and building great companies that provide foundation services and technologies for the Internet - such as PeopleLink's web community services - which are critical for ubiquitous Internet expansion...The current round of venture financing for PeopleLink, also included PeopleLink's other major investors, idealab! - which incubated the organization and AT&T Ventures.
Bill Gross, founder and Chairman of the Board of ideaLab! is excited by the synergy in this new partnership. "Adding BRM to the PeopleLink equation makes perfect sense," said Gross. "BRM has the technical talent and business savvy to aid PeopleLink in becoming one of the predominant providers of Web community communication services. I'm excited to welcome Charlie and the rest of the BRM team to the PeopleLink family."
About PeopleLink, Inc.
Peoplelink (www.peoplelink.com), has quickly become the largest outsourced provider of complete community communications services to Web sites, ISPs and online businesses. To date, over 2.4 million people have registered for the PeopleLink service, making it one of the largest online communications networks. PeopleLink's partners include Bolt, Compaq, Concentric, Earthlink, iVillage, Netcom , Nettaxi, Opera Software, Starmedia, ThrustMaster, Weber Public Relations Worldwide, and hundreds of others..." [emphasis added] Source: PeopleLink Company Press Release peoplelink.com
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