Commission Junction Receives $40 Million In Funding From idealab!, Questmark, Hikari And Thomas Weisel Partners
Market Wire, 20050229
Commission Junction, the B2B web-based sales distribution network, announced today that they received a $40 million investment from idealab!, QuestMark Partners L.P., Hikari Tsushin Inc. and Thomas Weisel Partners LLC. This investment represents Commission Junction's second round of venture capital financing. In addition, in connection with the financing, idealab!, a leading creator and operator of Internet operating businesses, agreed to offer Commission Junction's e-business solution to its network of companies.
Thomas Weisel Partners invested through both its Private Placement department, which acted as an agent in raising private equity, and through its Tailwind fund.
Lex Sisney, Chief Executive Officer of Commission Junction, said, "This investment further validates Commission Junction's fundamental investment potential and its rapid development of the right business-to-business e-commerce network for our growing numbers of online content sites and merchants."
Richard Singer, Strategic Investment Manager at Hikari Tsushin, said, "We believe Commission Junction's products have tremendous potential in the Japanese and greater Asian wireless markets. Our investment in, and involvement with, Commission Junction will help ensure the company's successful entrance into these burgeoning markets. We are excited to work with Commission Junction to help bring about the next wave of Internet marketing in Japan and greater Asia."
About Commission Junction
Founded in November 1998, Commission Junction is the B2B web-based sales distribution network that matches online merchants products and services to online content at the consumers' point-of- interest. Handling all aspects of the network for an unlimited number of online merchants and content providers, Commission Junction audits e- commerce activity, manages all relationships and collects and pays commissions on sales generated, all at a cost that's lower than traditional online performance marketing or advertising programs.
Commission Junction provides a web-based application services solution that tracks e- commerce activity in real-time and pays online content providers a single, aggregate check each month. Commission Junction pays online content sites when a customer takes a measurable action (request for information, subscription or purchase). By signing on with Commission Junction, merchants and online content providers work with a dedicated team that designs, manages and is accountable for the performance of the system.
Commission Junction comprises the world's largest network of high traffic online content providers, including Roadrunner (NYSE: TWX), Merrill Lynch (NYSE: MER), and InfoSpace (NASDAQ: INSP), as well as high profile online merchants, including Fingerhut (NYSE: FD), ShopNow (NASDAQ: SPNW) and 24/7 Media (NASDAQ: TFSM). Headquartered in Santa Barbara, CA, Commission Junction can be reached on the web at www.cj.com.
About idealab!
idealab! (www.idealab.com) identifies, creates and operates Internet businesses. Founded in March 1996 by Bill Gross, idealab! currently has approximately 50 businesses in various stages of development. idealab! generates ideas for new Internet businesses and creates, capitalizes and operates a separate company to conduct each new business. Actively participating in the on-going operations of its network companies through board representation, information sharing and facilitating collaboration among the companies, idealab! also recruits management to oversee the day-to-day operations allowing senior management to concentrate on executing the business plan. Additionally, idealab! provides each operating company with a full range of operational support services including office space and the accompanying network infrastructure, technology, graphic design, marketing, competitive research, legal, accounting and business development services. idealab! public companies include eToys (Nasdaq: ETYS), GoTo.com (Nasdaq: GOTO), CitySearch (TMCS), NetZero (Nasdaq: NZRO) and Tickets.com (Nasdaq: TIXX).
About QuestMark Partners
QuestMark Partners, L.P. is a $220-million late- stage private equity fund. The firm has invested in Aspect Medial Systems, SpeechWorks International, ZapMe! Corporation, OneSoft Corporation, Cruel World, Align Technology and Data Sage Inc. For more information, please visit www.questmarkpartners.com.
About Hikari Tsushin,Inc.
Hikari Tsushin, headquartered in Tokyo with 3 subsidiaries overseas, is Japan's leading information technology and telecommunications service distributor. In 1999 the company's 1800 "HitShop" stores distributed over 30% of Japan's cellular phones. Hikari also operates a number of other businesses, including a digital satellite television business and a web-TV business. In November 1999, Business Week named Hikari Tsushin, Inc. the "Hottest of the Hot" in its 1999 InfoTech 100 annual global survey of IT companies. Visit Hikari at www.hikari.co.jp.
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