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Technology Stocks : Internet Capital Group Inc. (ICGE) -- Ignore unavailable to you. Want to Upgrade?

To: rdmsqito who wrote (689)	10/20/1999 12:05:00 PM
From: Dalin	Read Replies (1) \| Respond to of 4187

Where did everybody go? Must have been one hell of an investment they made, eh? traffic.com Receives $19 Million from Internet Capital Group, TL Ventures & Bessemer Venture Partners BusinessWire, Wednesday, October 20, 1999 at 09:11 CAMP HILL, Pa.--(BUSINESS WIRE)--Oct. 20, 1999-- Internet Capital's Managing Director Doug Alexander joins traffic.com's Board of Directors traffic.com, the premier provider of real-time and predictive traffic information to businesses and consumers, today announced the completion of its second round of financing, totaling $19 million. The investors include Internet Capital Group (NASDAQ:ICGE), an Internet holding company actively engaged in business-to-business e-commerce through a network of partner companies; TL Ventures, which focuses on information technology, communications and healthcare companies; and Bessemer Venture Partners, which provides investment and assistance in building innovative, high growth companies. traffic.com also announced the addition of Doug Alexander, Managing Director of Internet Capital, to its Board of Directors. Doug is Chairman of VerticalNet, Inc. and serves on the boards of Blackboard, Inc.; ComputerJobs.com, Inc.; Deja.com Inc.; LinkShare Corporation and SageMaker, Inc. "Having originally funded the company, we welcome the capital, expertise and support of our new partners," said Mark J. DeNino, Chairman of traffic.com and Managing Director of TL Ventures. "This commitment of time, expertise and capital from our investment partners will enable traffic.com to continue breaking new ground in the digitized traffic data arena," said David L. Jannetta, President of traffic.com. "This latest investment brings the total amount invested in traffic.com to approximately $22 million, including the earlier investment in traffic.com by one of Safeguard Scientifics' affiliated venture funds, Pennsylvania Early Stage Partners. This level of investor support allows us to continue to pioneer real-time traffic solutions for the business-to-business and business-to-consumer markets." Headquartered in Camp Hill, Pennsylvania, traffic.com represents the nation's first all-digital traffic and logistics information service focused on business-to-business as well as business-to-consumer solutions. It collects and distributes data across its wireless network in real-time, 24 hours daily via Internet, wireless or traditional broadcast media. traffic.com's information will be networked into a National Transportation Data Center. "Internet Capital formed a partnership with traffic.com based on its ability to be a market maker for logistics and traffic information services," said Doug Alexander, Internet Capital Managing Director. "Internet Capital's strategy is to integrate our partner companies into a collaborative network that leverages the collective knowledge and resources of the group--a strength which will enhance traffic.com's competitive advantage."