Venture funding for content based web sites has not dried up as Allbusiness.com has evidenced.
AllBusiness.com, Inc. announced today a venture capital round of Series B financing of $10 million from VantagePoint Venture Partners, one of the largest and most active venture capital funds in the nation.
AllBusiness.com is a Web site for entrepreneurs and owners and operators of small businesses. and contains thousands of pages of valuable information, advice, forms, questions and answers, products, services, business guides, comparison shopping for business products, a small business association, discounts, and more.
As part of the VantagePoint financing, David Carlick and Rodi Guidero of VantagePoint have joined the company’s Board of Directors. Mr. Carlick was the co-founder of the leading Internet ad network company DoubleClick. He also sits on the Board of Directors of AskJeeves (search and related services), InterMix Media (online direct marketing and entertainment), and other Internet related companies. Mr. Guidero is responsible for the structuring and execution of the investments made by VantagePoint. He was formerly with E*Trade where he focused on strategic investments and business development transactions and will assist in the Company’s business development and acquisition strategies.
“We think that AllBusiness.com is poised to become the Yahoo for small business,” said David Carlick, Managing Director, VantagePoint. “We are tremendously excited about the opportunity to assist in the further growth of the company.”
“This financing will help us advance our mission — to provide valuable and engaging resources and continue our leadership as the online center for small businesses,” said Richard Harroch, the Chairman of AllBusiness.com. “Profitable and meaningful business models have emerged as the Internet has matured, and we think this is the perfect time to expand the offerings and reach of AllBusiness.com,” said Mr. Harroch
Proceeds from the financing will be used to add additional employees, enhance the company’s marketing and advertising efforts, expand strategic partnerships and make acquisitions.