Dow Jones Newswires -- March 6, 2000
Dow Jones Newswires
PRESS RELEASE: Gofish.com Gets $12M Funds From
CMGI Affil
( BW)(MA-CMGI/GOFISH.COM)(CMGI) B2B Exchange Site Gofish.com Secures $12 Million
From CMGI @Ventures to Complete $32 Million Series B Financing
Business and Technology Editors
PORTLAND, Maine/ANDOVER, Mass--(BUSINESS WIRE)--March 6, 2000--
Internet's First Seafood Market-Maker Carves Out Early Leadership
Position; Closes More Than $41 Million in Funding During
First Six Months of Operations
Gofish.com, the Internet 's first and largest business-to-business exchange site operating in the
seafood Industry, has secured $12 million in funding from CMGI @Ventures, the venture capital
affiliate of CMGI, Inc., (Nasdaq: CMGI). This capital from CMGI @Ventures' $1 billion B2B
fund brings Gofish's Series-B funding to a total of $32.1 million. As announced on February 14th,
the initial Series-B installment of $20.1 million was provided by GE Equity and The CIT Group, as
well as from return Series-A investors, Bedrock Capital Partners, Diversified Business
Communications, and individual investors. In total, the company has secured more than $41 million
in venture funding to date.
Gofish is a premier commerce and content destination for the seafood industry. The site allows
importers, processors and distributors, as well as fishermen, grocers and restaurant owners, to log
onto a computer to trade seafood online in a secure, easy, and timely manner. Gofish provides a
secure forum for transactions and features up-to-the-minute news from industry-leading trade
publication, "SeaFood Business." The site also uses SeaFax to provide the industry's best
proprietary credit information on trading partners, allowing buyers and sellers to make more
informed business decisions.
"Gofish is well positioned to revamp and dramatically improve the $33 billion domestic wholesale
seafood market, bringing Internet speed, efficiency and savings to every sector of the industry," said
Marc Poirier, General Partner with CMGI @Ventures. "We look forward to putting the Internet
expertise, resources and reach of the CMGI and CMGI @Ventures network behind the company
as it continues to execute on its business model."
"We welcome CMGI @Ventures as an industry-leading investor that brings invaluable human and
technological assets as well as proven strategic counsel to our effort," said Gofish Founder and
President Neal Workman. "With our Series-B now formally closed, we expect to deploy still more
new and useful features, such as auctions capabilities and online accounts receivable financing
capabilities." About Gofish.com
Gofish.com, headquartered in Portland, Maine, is the premier content and commerce destination
for the seafood industry. Gofish provides a secure forum for transactions and features
up-to-the-minute news from industry-leading SeaFood Business. The site also uses SeaFax to
provide the industry's best proprietary credit information on trading partners, allowing buyers and
sellers to make more informed business decisions. Gofish offers a collection guarantee, and will add
auctions and receivables funding by summer 2000. In addition, Gofish expects to incorporate
logistics support services to the site by fall 2000. For more information on Gofish, please visit or
call 1.800.777.3533. Gofish is a privately held corporation with offices in Portland, Maine, and
Bellevue, Wash. About CMGI and CMGI @Ventures
With 65 companies, CMGI, Inc. (Nasdaq: CMGI) represents the largest, most diverse network of
Internet companies in the world. This network includes both CMGI operating companies and
synergistic investments made through its venture capital affiliate, CMGI @Ventures. CMGI
leverages the technologies, content and market reach of its extended family of companies to foster
rapid growth and industry leadership across its network, and the larger Internet Economy.
Compaq, Intel, Microsoft, Pacific Century CyberWorks and Sumitomo hold minority positions in
CMGI.
CMGI's majority-owned operating companies include Engage Technologies (Nasdaq: ENGA),
NaviSite (Nasdaq: NAVI), 1ClickBrands, 1stUp.com, Activate.net, AdForce, Adsmart,
AltaVista, CMGI Solutions, Equilibrium, Flycast, iCAST, MyWay.com, NaviNet, SalesLink and
Tribal Voice. CMGI @Ventures has ownership interests in Lycos, Inc. (Nasdaq: LCOS), Critical
Path (Nasdaq: CPTH), Silknet (Nasdaq: SILK), Chemdex (Nasdaq: CMDX), MotherNature.com
(Nasdaq: MTHR), Vicinity (Nasdaq: VCNT) Asimba.com, AuctionWatch.com, Aureate Media,
blaxxun, BizBuyer.com, Boatscape.com, buyersedge.com, CarParts.com, CraftShop.com,
DiamondBack Systems, eCircles.com, eGroups.com, EXP.com, FindLaw, FoodBuy.com,
Furniture.com, Gamers.com, Gofish.com, Half.com, HotLinks, Industria Systems,
INPHO/HomePriceCheck.com, Intelligent/Digital, KnowledgeFirst, KOZ.com, Mondera.com,
MyFamily.com, NextMonet.com, NextOffice.com, NextPlanetOver.com, Oncology.com,
OneCore.com, PlanetOutdoors.com, Productopia, SnapFish.com, Speech Machines, SpotLife,
ThingWorld.com, Virtual Ink, Visto, Vstore and WebCT. |
