@Ventures Funds Advoco.com, the Online Marketplace
for Expert Advice and Services
Site Brings Individuals Together With Expert
Consultants, Top Trainers and Experienced Advisors
biz.yahoo.com
Wednesday August 11, 9:04 am Eastern Time
Company Press Release
MENLO PARK, Calif.--(BUSINESS WIRE)--Aug. 11,
1999-- @Ventures, the affiliated venture capital arm of
CMGI (NASDAQ:CMGI - news), today announced their
participation in an initial $4 million round of funding for
advoco.com, the online marketplace for expert advice
and services. Other investors include Bessemer
Venture Partners, and select angel investors.
Advoco.com is a consumer Web site that enables
individuals - at home and at work - to find, select, and
interact with experienced professionals in a wide variety
of service fields. The site meanwhile provides advisors
and service providers with a valuable e-commerce
platform upon which to meet, negotiate, and interact with
individuals and businesses in need of their services.
''Advoco.com makes it possible for individuals to locate
and negotiate directly with qualified financial advisors,
business management consultants, fitness trainers,
career counselors... you name it,'' explained Mark
Benning, founder and president of advoco.com. ''We've
built a service distribution hub where people can view a
range of expert credentials, select an advisor, negotiate
fees, get the advice they're seeking, and pay for
services -- all in one easy-to-use site.''
''By leveraging the immediate interactivity of the
Internet to directly link potential customers and clientele
with the advisors they need, advoco.com is bringing
today's expanding service economy into the new
millennium,'' said Jon Callaghan, General Partner at
@Ventures and member of advoco.com's Board of
Directors. ''The site is redefining how consumers and
professionals select, purchase and deliver services in
the information economy.''
Mr. Benning, has hand-picked a collaborative group of
second generation Internet professionals with start-up
experience at leading companies such as AOL, Critical
Path, CyberCash, E*TRADE, Intel, Intuit, Yahoo! and
Netscape Communications. Among them are
Boon-Lock Yeo, Ph.D., Vice President of Technology;
Karen Tate, Vice President of Business Development
and Co-founder; John Kremer, Vice President of
Marketing and Co-founder; Stuart Ogawa, Vice
President of Operations and Co-founder; and Vishesh
Parikh, Senior Director of Engineering.
Advoco.com's Board of Directors includes Mr.
Callaghan, General Partner of @Ventures; David
Cowan, Managing Partner of Bessemer Venture
Partners; Lawrence B. Levy, Director of Pixar Studios
and IDG Books, Matt Glickman, CEO and co-founder of
BabyCenter, Inc., and Mr. Benning.
About advoco.com, Inc.
Advoco.com Inc. was incorporated in February 1999 to
create the first marketplace for expert advice and
services on the Internet. The company has attracted
more than $4 million in financing from some of Silicon
Valley's leading venture capital firms including
Bessemer Venture Partners and @Ventures (a CMGI
affiliate). Advoco.com is located in Menlo Park,
California. For further information, please go to
advoco.com.
About CMGI & @Ventures
A recognized leader in the Internet economy, CMGI
(Nasdaq: CMGI - news) 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 and
Sumitomo hold minority positions in CMGI.
CMGI's majority-owned subsidiaries include Engage
(Nasdaq: ENGA - news), Activerse, Adsmart, iCast,
Magnitude Network, NaviSite, NaviNet, Planet Direct
and ZineZone. The Company's @Ventures affiliates
have ownership interests in Lycos, Inc. (Nasdaq: LCOS
- news), Critical Path (Nasdaq: CPTH - news), Silknet
(Nasdaq: SILK - news), Chemdex (Nasdaq: CMDX -
news), Advoco.com, Ancestry.com, Asimba, Aureate
Media, blaxxun, BizBuyer.com, CarParts.com,
eCircles.com, Furniture.com, HotLinks, KOZ.com,
MotherNature.com, NextMonet.com,
NextPlanetOver.com, OneCore.com, ONElist,
Productopia, Promedix.com, Raging Bull, Softway
Systems, Speech Machines, ThingWorld.com,
Universal Learning Technology, Vicinity, Virtual Ink and
Visto.
CMGI is also the majority-owner of SalesLink,
InSolutions and On-Demand Solutions, leaders in 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 at
cmgi.com |
