Leading Independent Free Email Solutions Provider to Further Develop
Infrastructure and Service Features and Expand Advertising Network
NEW YORK, Sept. 14 /PRNewswire/ -- iName, Inc., the leading provider of
lifetime personalized email addresses and advanced email services, announced
today that it has completed a mezzanine round of financing, consisting of a
$14 million private placement of convertible preferred securities by a group
of blue chip investors.
iName's latest round of financing was led by Sycamore Ventures and
includes J & W Seligman & Co., and Primus Venture Partners. PaineWebber
Incorporated served as the placement agent for this transaction. Proceeds
will be used to further develop the company's technology infrastructure, add
capabilities to iName's premier advertising network and expand email service
features for users.
"We are gratified that iName's new financing received the support of this
group of highly-regarded institutional investors," stated Gerald Gorman,
Chairman of iName, Inc. "The new capital will allow us to strategically build
out our service offerings and ensure a state of the art network for our
partners and the millions of users who have created email accounts with us."
As the Internet's leading free email solutions provider, iName provides
personalized, lifetime Web-based email accounts and forwarding service. At
the core of iName's services is the industry's largest selection of more than
300 quality domain names. The iName solution is offered through its exclusive
network of over 45 of the Internet's premier online properties, including Alta
Vista, NBC Snap!, CNN Interactive, CNN/SI, CMPnet, CBS Sportsline and Standard
& Poor's. In addition, the iName network offers one of the Internet's most
innovative targeting opportunities in online advertising. iName, Inc.,
located on the Web at http://www.iName.com is headquartered in New York and is
a privately held and funded corporation.
SOURCE iName, Inc.
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Related links:
http://www.iName.com
CONTACT:
Elissa Tomasetti, Vice President of Marketing
of iName, Inc., 212-425-3477, Ext. 229, or etomasetti@iname.com;
or Lee Foley, 212-850-5613, or leefoley@morgenwalke.com, or Evan
Goetz, 212-850-5639, or evan@morgenwalke.com, both of
Morgen-Walke Associates
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