STATE COLLEGE, Pa., Nov. 1 /PRNewswire/ -- Weekends.com
(http://www.weekends.com), a leading Internet travel company specializing in
discount flights, last minute cruises, weekend hotel deals and one-of-a-kind
weekend getaways announced today that it has secured in excess of $1.5 million
in the first round of financing. Funds were secured from the parent company
BeastoftheEast.net, Inc. and a number of Chicago and Pennsylvania angels.
Weekends.com, which only employs 5 people, will use the financing for website
development and marketing. The first round offering closes December 31st,
2000.
"Given the extremely tough climate for Internet companies, it is testament
to our low burn, sound model and well defined niche that we have been able to
secure funding," said Chris Loughlin, Chief Operating Officer of Weekends.com.
Originally a weekend getaway site for "time poor, cash rich" New Yorkers,
Weekends.com re-launched its website in September 2000 and now caters to a
national audience. The company is currently experiencing month on month
traffic and revenue growth of over 200%.
About Weekends.com, Inc.
Founded in 1999, Weekends.com (http://www.weekends.com) is a leading
Internet travel company specializing in discount flights, last minute cruises,
weekend hotel deals and one-of-a-kind weekend getaways. Weekends.com helps
answer the consumers' recurring question, "What am I going to do this
weekend?" Weekends.com is wholly owned by Internet holding company
BeastoftheEast.net, Inc. and has alliances with over 1000 localized getaway
companies as well as Hilton Hotels, Cruise.com, Moguls Ski and Snowboard
Tours, Apple Vacations and a leading national flight consolidator.
About BeastoftheEast.net, Inc.
BeastoftheEast.net, Inc. is an Internet holding company that was formed in
February 2000 by Edward J. Lauth III, former founder and President of AquaPenn
Spring Water Company, Inc. AquaPenn was acquired by Groupe Danone in December
1998.
SOURCE Weekends.com, Inc.
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Related links:
http://www.weekends.com
CONTACT:
Tina Kelley of Weekends.com, 814-234-3292, or
tina@weekends.com
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