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Press Center > Press Releases
> Funding
FOR RELEASE 6 A.M. MONDAY 5/1/00
For more information contact:
Renee Kuan
Everyone.net
408.519.8200
pr@Everyone.net
Everyone.net
Secures $10 Million in Funding
El Dorado Ventures and Labrador Ventures Invest in Private Web Services
Company
San Jose, CA — May 1, 2000 — Everyone.net™ (www.everyone.net),
provider of application, revenue, and marketing services to independent
web sites, today secured $10 million in financing from El Dorado Ventures
and Labrador Ventures. The funds will be used to improve and expand Everyone.net's
suite of services, including email, search, chat and discussion boards,
which help webmasters bolster traffic and revenue while reducing operating
costs.
"The number of people using our services is increasing at a phenomenal rate,"
said Kenneth Chan, CEO and Founder of Everyone.net. "By using this funding
to diversify and develop our suite of services, we will be investing in
our partners as well as ourselves."
"Everyone.net solves key problems for web sites. The company provides easy
to use applications that please web sites' consumers, increase their traffic,
and increase advertising revenue," said Sean Foote, a General Partner at
Labrador Ventures. "Consumers win, web sites win."
"By investing in Everyone.net, we are investing in the millions of independent
web sites that occupy the majority of the web," said Charles Beeler, a General
Partner at El Dorado Ventures. "Everyone.net provides sites with services
that increase traffic and earnings, while aggregating them together into
vertical networks that allow them to leverage the strength of their numbers."
About Labrador Ventures
Founded in 1989, Labrador Ventures provides seed and early-stage capital
to promising information technology businesses. The current fund, LV IV,
is $90M. Labrador's past and present portfolio companies include Hotmail/Microsoft,
Four11/Yahoo, iSyndicate, Inc., Infogear, Digital Impact (NASDAQ: DIGI),
MyPoints (NASDAQ: MYPT), and Family Point/iVillage. Labrador Ventures is
ranked well in the top quartile in performance of all venture funds. Visit
www.labrador.com for more information.
About El Dorado Ventures
El Dorado Ventures (EDV) is a private venture capital partnership that has
funded more than 75 technology startups in northern California over the
last two decades. EDV's partners have provided funding for Sun Microsystems,
IDT, Earthlink, Access Health, Novellus, Pulse Entertainment, Data Sage/Vignette,
Efficient Networks, Women.com, eCicero.com, and Amati Communication/Texas
Instruments. Visit www.eldorado.com
for more information.
About Everyone.net
Based in San Jose, CA, Everyone.net is a leading web services company that
aggregates and organizes thousands of independent web sites by subject into
vertical networks. Partner sites can leverage the common infrastructure
built through the use of Everyone.net services and enjoy enhanced site features,
increased traffic, and greater revenue. Furthermore, the company's revenue-sharing
model minimizes operating and technology costs for its partners. Visit www.everyone.net
for more information.
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