Money.net Closes a Series C Strategic Round with Winstar and Mitsubishi

Friday, November 17th, 2000 9:00 AM Eastern Time

NEW YORK, N.Y. - Money.net, a leader in hosted streaming real-time market data applications, has closed a Series C round of financing. Strategic investors include Winstar and Mitsubishi. Money.net is an application service provider (ASP) that provides a hosted turnkey solution of private labeled streaming quotes and also operates a financial portal at www.money.net. The company will use the proceeds to enhance its streaming market data technology and build out the ASP licensing business.

Money.net's ASP clients include Go2Net, Zacks, Office.com and Telescan. Money.net also operates a high traffic personal finance portal that offers free real-time streaming quotes and account aggregation via its website. Money.net's portal has over 200,000 active members.

Prior investors in Money.net include, C. Blair Asset, Net Associates, MN Holdings, and others.

Terms of the deal were not disclosed. Mitsubishi will join the company's board.