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internet.com Venture Fund II leads financing round, which also includes Synapse Capital.
SAN FRANCISCO-May, 2000-NetRead (www.NetRead.com),a provider of Web-based catalog management and marketing tools for publishers, announced it has completed its first round funding. The round was led by the venture arm of publicly-traded internet.com, and included participation by Synapse Capital. The funds will be used to support the rapid growth of NetRead's first two services: EventCaster SM and JacketCaster SM .
EventCaster has become the leading web-based mechanism for distributing information about the tens of thousands of book-related events that occur in North America each year. EventCaster partners include Yahoo! and more than 120 major market newspapers.
JacketCaster, currently completing beta tests with some of the world's largest publishers and book distributors, represents a revolutionary new category of web-based business infrastructure. JacketCaster allows editorial and marketing departments to share, change and maintain catalog information about their titles. The information is continuously distributed by NetRead to the multitude of relevant channel databases, including retailers and wholesalers such as Amazon and Ingram. Online sales are heavily dependent on the amount of information available to the customer, so a service like JacketCaster is critical for publishers. "The support of internet.com comes at the perfect time to meet the tremendous demand that we're seeing for these unique new products," said Pete Alcorn, NetRead's CEO.
"We are pleased to be on board with NetRead as they are clearly the leader in providing Web-based tools for the book publishing industry" said Alan Meckler, internet.com's Chairman and CEO.
About internet.com:
internet.com is a registered trademark of internet.com Corporation. internet.com Corporation (Nasdaq: INTM), the Internet Industry Portal, is based in New York, NY. It is a leading provider of global real-time news and information resources for Internet industry and Internet technology professionals, Web developers and experienced Internet users. internet.com operates a network of 117 Web sites, 171 e-mail newsletters, 117 online discussion forums and 78 moderated e-mail discussion lists with over 2.2 million unique visitors that generate more than 130 million page views monthly. Total "views", which include Web site page views, e-mail newsletter views and e-mail discussion list views, are now over 185 million per month. internet.com's global presence includes editions in Arabia, Asia, Australia, Belgium, Canada, China, Espanol, France, Germany, India, Israel, Japan, The Netherlands, South Africa, Spain and the United Kingdom. In Press Contact: Greg Aden, (206) 277.7886, graden@NetRead.com addition, internet.com with its related internet.com Venture Fund I and Venture Fund II is an investor in a growing number of business-to-business content sites and related Internet media properties.
About NetRead
NetRead was founded in early 1999 by Pete Alcorn, a publishing industry veteran, and Kent Lindstrom, a senior manager at the Consulting Firm Deloitte & Touche. NetRead has grown rapidly in its first year, and now counts some of the world's largest publishers among its users. NetRead, the NetRead logo, JacketCaster, and EventCaster are service marks of NetRead, Inc.
Press Contact: Greg Aden at (206) 277-7886, graden@NetRead.com.
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Greg Aden