PA with another investment, wonder when he will integrate all of these alliances and acquisitions (sporting news)into gnet:
EncrypTix, Inc. Announces $30 Million Private Financing Led by Paul Allen's Vulcan Ventures
Strategic Investors in Stamps.com Subsidiary Include American Express, Galileo, GetThere.com, Loews Cineplex, Mail Boxes Etc., Mitsubishi, Sabre, SunAmerica and Tickets.com
SANTA MONICA, Calif.--(BUSINESS WIRE)--Feb. 17, 2000-- EncrypTix(TM), Inc., until today a wholly-owned subsidiary of Stamps.com(TM) (Nasdaq: STMP), today announced a $30.25 million private financing, led by Paul Allen's Vulcan Ventures Incorporated.
The financing also includes strategic investors American Express Travel Related Services Company, Inc., Galileo International, GetThere.com, Inc., Loews Cineplex Entertainment Corporation, Mail Boxes Etc. USA, Inc., Mitsubishi International Corporation, Sabre, Inc., SunAmerica Investment Inc. and Tickets.com, Inc. EncrypTix provides highly secure, authenticated online printing technologies for the events, movie, travel and financial service industries.
Utilizing many of the proprietary, Internet-based technologies developed by Stamps.com, EncrypTix will enable sellers and distributors of tickets and financial instruments to deliver value-bearing instruments such as tickets, vouchers, boarding passes, checks and gift certificates over the Internet through a customer's existing laser or inkjet printer. The financing is subject to necessary Hart-Scott-Rodino regulatory filings and review, which should be completed within 30 days. Following completion of the financing, Stamps.com will remain the largest shareholder in EncrypTix, and will hold two seats on the company's Board of Directors, including Stamps.com CEO John Payne who will serve as Chairman of the EncrypTix Board of Directors.
"This financing provides the resources we need to accelerate our efforts to provide secure delivery technologies for the web sites and distribution systems of our partners," said EncrypTix President and CEO Jim Rowan. "EncrypTix serves as a secure transaction service provider, invisible to the consumer, except for a small EncrypTix Web Delivery(TM) logo embedded in the partner's web page at the point of purchase. Our technologies will dramatically enhance the ways that our partners serve their customers with real-time delivery of instruments that today must be printed on authenticated security paper or ticket stock and delivered physically through the mail, common carrier or will call."
EncrypTix' technologies are compliant with FIPS 140-1 government standards for security, privacy and encryption, and provide the highest level of authentication of the end user to whom instruments will be delivered. The technology was originally developed by Stamps.com under a regulatory program run by the U.S. Postal Service, which included a rigorous 2-year regulatory evaluation and field beta test. It is in use today by more than 100,000 Internet users printing millions of dollars of Internet Postage(TM) through the Internet on ordinary laser and inkjet printers.
About EncrypTix
Founded in November, 1999, EncrypTix, Inc. provides companies with a secure method of delivering value-bearing documents to consumers over the Internet. Utilizing EncrypTix-enabled services, consumers can purchase and instantly print tickets for the events, movie, travel and financial service industries using just a PC, Internet connection and a laser or inkjet printer, utilizing a unique software-only solution with no special hardware required. Initially formed as a wholly-owned subsidiary of Stamps.com, EncrypTix recently completed a preferred stock private financing led by Vulcan Ventures. Key strategic investors also include American Express, Galileo International, GetThere.com, Loews Cineplex Entertainment Corporation, Mail Boxes Etc., Mitsubishi, Sabre, SunAmerica and Tickets.com. More information about the company can be found at www.encryptix.com.
About Stamps.com
Founded in 1996, Santa Monica-based Stamps.com is the leading provider of Internet-based mailing and shipping services. It's highly secure Internet Postage service was approved by the US Postal Service in August of 1999 after an exhaustive 2-year regulatory evaluation and field beta test. The company's innovative technology eliminates the need for specialized postage metering hardware by giving customers the flexibility to print postage over the Internet -- securely, accurately and fast. Through partnerships with major companies like America Online, Hewlett-Packard, IBM, Microsoft, Office Depot, Intuit and 3M, Stamps.com has tremendous reach into the small office/home office and consumer markets. More information about the company can be found at www.stamps.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This release may contain forward-looking statements about Stamps.com Inc. that involve risks and uncertainties. Important factors, including Stamps.com's ability to expand its product and service offerings, could cause actual results to differ materially from those in the forward-looking statements and are detailed in filings with the Securities and Exchange Commission made from time to time by Stamps.com, including its Form 10-Q for the quarter ended September 30, 1999 and its registration statement on Form S-4, as amended, that was declared effective by the SEC on February 14, 2000. Stamps.com undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Internet Postage, Stamps.com and the Stamps.com logo are trademarks of Stamps.com Inc. EncrypTix and the EncrypTix logo are trademarks of EncrypTix, Inc. All other brands and names are the property of their respective owners.
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