Jay Hoag, Founding General Partner of Technology Crossover Ventures, Joins TechTarget Board of Directors; Appointment Follows $70 Million in Series B Funding

Business Wire, June 8, 2004

Business/Technology/Advertising Editors & Publishing/Media Writers

NEEDHAM, Mass.--(BUSINESS WIRE)--June 8, 2004

Information technology (IT) media company TechTarget announced today that Technology Crossover Ventures (TCV) founding general partner Jay Hoag has joined the Company's Board of Directors. In a separate release, TechTarget also announced today that it received $70 million in Series B funding from TCV and Polaris Venture Partners.

Hoag joins fellow TechTarget board members Alan G. Spoon, managing general partner of Polaris Venture Partners; Roger Marino, co-founder of EMC Corporation; Bruce Levenson, CEO of United Communications Group; and Greg Strakosch, co-founder and CEO of TechTarget.

"Jay Hoag is an invaluable addition to our Board of Directors," said TechTarget CEO Greg Strakosch. "He brings extensive experience in working with companies, like TechTarget, which have achieved significant revenues and profitability and are prepared to accelerate their growth to the next level."

As a director of TechTarget, Hoag will provide strategic guidance and leadership to the Company, drawing on his 22 years of experience in the venture capital industry. He has been involved with numerous TCV investments, including investments in Ariba Technologies, Altiris, CacheFlow, C|NET, Expedia, Fandango, Netflix, and RealNetworks.

Prior to joining TCV, Hoag was a managing director at Chancellor Capital Management, where he spent more than twelve years as a technology-focused venture capitalist and fund manager. From 1988 to 1994, he grew Chancellor Capital's public technology asset base from $20 million to over $250 million and achieved industry-leading performance. In 1989, he assumed sole responsibility for Chancellor Capital's private technology investments. In that capacity, he invested over $113 million in 30 companies. Fifteen of those companies, including Ascend Communications, CompUSA, Intuit, Macromedia, NETCOM, PictureTel, Pure Software, and Sybase, went public during his tenure.

In addition to serving on TechTarget's Board of Directors, Hoag currently sits on the Boards of Altiris, eLoyalty, Fandango, InPhonic, and NetFlix. He is also on the Advisory Board of Champion Ventures and the Investment Advisory Committee at the University of Michigan. Hoag received a B.A. in Economics and Political Science from Northwestern University and an M.B.A. from the University of Michigan.

About TechTarget

TechTarget produces the most targeted media and events for enterprise information technology (IT) professionals, including conferences, e-Newsletters; Webcasts, magazines, and a network of Web sites targeted to specific sectors of the IT market. TechTarget leads the industry in developing innovative lead-generation and branding programs that deliver measurable return on advertisers' investments. More than 1,500 advertisers, including the leading IT companies in the world, rely on TechTarget media and events to reach targeted communities of IT professionals. TechTarget advertisers include IBM, Microsoft, Oracle, HP, Cisco, Intel, and EMC. More information about TechTarget is available at www.techtarget.com