NEW YORK–(BUSINESS WIRE)–June 2, 2003–Space Holdings, a multimedia company dedicated to space, science and technology, announced today that it has closed $4 million in a new round of financingfrom four of its original investors: Blue Chip Venture Company, Gannett Co., Inc., SpaceVest and Venrock Associates.
Space Holdings will use proceeds of the financing to expand its product lines, increase its sales and marketing efforts, and build out its integrated platform to reach a broader audience in consumer, professional and education markets.
Space Holdings was formed in 1999 as a web-based business and has since re-fashioned itself as an integrated multimedia company initially encompassing three brand franchises: Space News, the premier business-to-business international news weekly dedicated entirely to the space and aerospace business; Starry Night(TM), the world’s leading family of astronomy software; and Space.com, a web site that offers rich and compelling space- and science-related content.
Today’s announcement follows one made by Space Holdings last month in which the company introduced three new senior executives to its management team.
“Our ability to close a new round of financing in an extremely tight venture capital market, and to attract top executive talent, speaks volumes about the attractiveness of our new business model and growth prospects moving forward,” said Daniel Stone, president and chief executive officer. “Our investors recognize that there is a very large market for our products and services and that we have an experienced and innovative executive team in place to capitalize on this opportunity. This new round of financing will enable us to strengthen our current business lines and seek additional growth opportunities.
“We have transformed Space Holdings into a company that is relevant to a large number of highly desirable consumers and, by extension, to marketers as well,” Stone continued. “We are on the cusp of significant growth.”
About Blue Chip Venture Company
Blue Chip Venture Company is a leading venture capital firm providing capital and business-building assistance to entrepreneurs seeking to build growth companies. Blue Chip’s end-to-end approach to success includes being an integral part of entrepreneurs’ strategic planning sessions, key employee recruiting, industry conferences, fund-raising, corporate partnerships, public offerings and more. Based in Cincinnati, Blue Chip Venture Company has more than $600 million of capital under management and has invested in more than 85 partner companies throughout the United States and Canada. Areas of focus include enterprise software, technology infrastructure, media and communications and healthcare.
About Gannett Co., Inc.
Gannett Co., Inc. is a leading international news and information company that publishes 100 daily newspapers in the USA, including USA TODAY, the nation’s largest-selling daily newspaper. The company also owns in excess of 400 non-daily publications in the USA and USA WEEKEND, a weekly newspaper magazine. Gannett subsidiary Newsquest is the United Kingdom’s second largest regional newspaper company. Newsquest publishes more than 300 titles, including 17 daily newspapers, and a network of prize-winning Web sites. Gannett also operates 22 television stations in the United States and is an Internet leader with sites sponsored by its TV stations and newspapers including USATODAY.com, one of the most popular news sites on the Web.
About SpaceVest
SpaceVest is a venture capital firm managing approximately $270 million for global institutional limited partners. The firm has a decade of experience successfully investing in space-related and advanced technology companies. SpaceVest typically leads expansion-round syndicates in US-based businesses.
About Venrock Associates
Venrock Associates was founded as the venture capital arm of the Rockefeller Family and today continues a six-decade tradition of funding entrepreneurs and establishing successful, enduring companies. Venrock’s activities have focused on early stage companies in information technology and healthcare, with investments in such companies as Intel, Apple Computer, Stratacom, Check Point Software, Visual Networks and DoubleClick in the IT sector, and Millennium Pharmaceuticals, Genetics Institute, Oratec Interventions and Caliper Technologies in the healthcare sector.
About Space Holdings
Space Holdings is a branded multimedia company that captures the value of people’s fascination with space, science and technological innovation. The company was formed in 1999. Its brand franchises include: Space News, the premier business-to-business international news weekly dedicated entirely to the space and aerospace business; Starry Night(TM), the world’s leading family of astronomy software; and Space.com, a web site that offers rich and compelling space content, including information, education, entertainment and business news. Space Holdings is headquartered in New York City with offices and news bureaus in Washington, DC; Port Canaveral, Florida; Toronto and Paris.
