WeddingChannel.com Secures Significant Investment Capital From Goldman Sachs, RRE Investors and idealab! Capital Partners

Business Wire, Feb 26, 1999

LOS ANGELES--(BUSINESS WIRE)--Feb. 26, 1999--WeddingChannel.com (www.weddingchannel.com) today announced that Goldman Sachs, RRE Investors and idealab! Capital Partners have invested a total of $12 million in the company. The announcement, which comes on the heels of the company's recent multi-million dollar media partnership with Bride's Magazine, will enable WeddingChannel.com to extend and solidify the company's online leadership as the most comprehensive wedding resource, communications, registry and customizable planning tool on the Web.

"This financing will enhance WeddingChannel.com's technology, marketing programs and community-building tools across the board so we can better build long-term relationships with our audience," said Tim Gray, CEO and co-founder of WeddingChannel.com. "We are pleased that Goldman Sachs, RRE Investors and idealab! Capital Partners have made this investment in us."

"We recognize WeddingChannel.com's leadership position in the online bridal market and believe that the company is positioned to move even further ahead of the competition," said Joe Gleberman, Managing Director, Goldman Sachs.

The Goldman Sachs Group, L.P. is a leading international investment banking and securities firm, providing a full range of investing, advisory and financing services to corporations, governments, institutions and substantial individuals worldwide. Founded in 1869, it is one of the oldest and largest investment banking firms. Goldman Sachs is headquartered in New York and has 41 offices in 23 countries around the globe.

RRE Investors is a venture capital firm that invests in entrepreneurial information technology companies. The company is led by James D. Robinson III who served as Chairman and Chief Executive Officer of American Express Company from 1977-1993. RRE Investors places special emphasis on software, communications, Internet and related enterprises that can become leaders in select technology-driven markets principally serving the Fortune 500 and their global equivalents. RRE Investors combines significant capital resources with managerial, financial and technical experience and corporate contacts to create value for its portfolio companies.

This is the third round of financing for WeddingChannel.com, which launched online in July 1997 with seed funding from idealab! and idealab! Capital Partners. Idealab! is America's largest internet incubator and founded eToys, GoTo.com and CitySearch amongst others. Idealab! Capital Partners (ICP) is a $105 million venture capital fund focused on idealab! companies and other early stage Internet companies.

WeddingChannel.com also received a significant investment from MacAndrews & Forbes Holdings, Inc. in May 1998.

About the Site

WeddingChannel.com is the most comprehensive and customizable wedding planning, gift registry and communication resource on the Web. A one-stop destination for engaged couples and their friends, family and acquaintances, the site offers a broad array of planning tools and wedding-related services, including an online bridal registry, personalization features, online travel planning, local business directories and the largest database of bridal fashions. WeddingChannel.com continues to add features to the site to enhance the wedding experience.

About the Company

WeddingChannel.com (www.weddingchannel.com), the Web's number-one bridal registry and wedding resource, is the first Internet business to offer consumers a complete menu of wedding-related services. With its patent-pending integrated technology, WeddingChannel.com even helps betrothed couples create their own Web pages. WeddingChannel.com has also formed a multi-million dollar content and marketing partnership with Bride's Magazine, the number one bridal media brand. Based in Los Angeles, Calif., WeddingChannel.com launched in July 1997 and is a private company whose investors include MacAndrews & Forbes Holdings, Inc., Goldman Sachs, RRE Investors and idealab!.