Business Services Industry
SelfCare.com Raises $80 Million in Latest Round of Equity Funding
Business Wire, March 22, 2000
Business/High-Tech Editors
EMERYVILLE, Calif.--(BUSINESS WIRE)--March 22, 2000
Cash and In-Kind Services from Strategic Alliances and New
and Existing Investors Expand E-Commerce Company's Distribution
Network and Sales Channels
SelfCare.com (www.selfcare.com), a premier health and wellness e-commerce site for women and their families, today announced that the company has raised $80 million in new equity funding, including the value of in-kind services in 2000, and potential in-kind services in 2001 and 2002. These funds and services were derived from a series of strategic alliances and financing from both new and original investors.
Related Results
"These equity investments have exceeded our expectations and provide evidence of the success of our highly differentiated business model and strong fundamentals," said Jeffrey Rose, Chairman and CEO of SelfCare.com. "They also represent a high level of confidence in the future of SelfCare.com as a key player in the growing online health industry."
"We intend to use these monies for general operating purposes with a substantial portion earmarked to support an aggressive marketing strategy," added Rose. "This funding allows us to extend our targeted reach through a further expansion of our distribution network as well as to make improvements in our service delivery capacity."
This latest round of funding includes cash investments and in-kind services from new investors, including: NBC, NBCi, ValueVision, Women.com and MPM Asset Management. The current funding also includes investments from prior investors, including: Brentwood Associates, Moore Capital, Domain Associates, Intel Corporation, St. Paul Fire and Marine Insurance, and U.S. Venture Partners.
Strategic Partners and Board Members
On February 2, 2000, SelfCare.com announced a multi-year alliance with NBC and two of its affiliated companies -- ValueVision International, Inc. (NASDAQ: VVTV) and NBC Internet, Inc. (NASDAQ: NBCI) in which SelfCare received investments of cash and in-kind services. The new funding round also includes a cash investment from Women.com. In January of this year, SelfCare.com announced a three-year, $21 million partnership with Women.com.
SelfCare.com announced the appointment of three new board members: Claudia Taylor, Vice President of Business Development for NBC Interactive, Marleen McDaniel, CEO of Women.com, and Luke Evnin, General Partner, MPM Asset Management.
Funding History
In March 1999, the company raised $25 million, bringing total investments to $40 million when combined with initial funding of $15 million. With this new $80 million of financing, total funds raised by SelfCare.com since its inception has reached $120 million.
About SelfCare.com
SelfCare.com is a leading e-commerce site for women and their families that provides an unparalleled assortment of traditional and alternative health and wellness products -- from allergy-free bedding and blood pressure monitors to soy milk makers and yoga mats. Using a multi-channel approach including the Internet, direct-mail and cable television programming, SelfCare.com integrates rich, credible information from well-known health experts, interactive tools and community support to promote informed purchasing decisions. All purchases are backed by SelfCare's Guaranteed Forever(TM) promise. The company also provides 24-hour customer service support. SelfCare has a 24-year history in self-managed health and wellness and is privately held and headquartered in Emeryville, Calif. SelfCare.com can be reached at (510) 658-0970 or at www.selfcare.com.
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