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| AOL, IDG Ventures
Back Gay Web Company May 10, 2001 3:15 pm EST SAN FRANCISCO (Reuters) - Gay-oriented Internet media company PlanetOut Partners Inc. on Thursday said it has received $8.2 million in funding, including money from AOL Time Warner Inc. (AOL.N) and International Data Group, which publishes The Industry Standard Internet magazine. With the funding, San Francisco-based PlanetOut Partners was poised to be cash-flow positive in the fourth quarter of this year, Chief Financial Officer Jeff Soukup told Reuters. Soukup said the latest financing will be used mostly for operations and to diversify revenue streams. Privately held PlanetOut Partners was formed in April through the merger of PlanetOut Corp. and Online Partners Inc. With 2.1 million registered users, PlanetOut is moving into electronic commerce services, including selling goods online from gay-oriented boutiques over its Kleptomaniac.com service. With the latest financing, the total raised by PlanetOut Partners, including money raised before the April merger, is roughly $68 million.
Thursday's financing round included
AOL Time Warner Ventures, IDG Ventures, JPMorgan Partners, Flatiron
Partners and Baroda Ventures. |