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BROOKLYN, NY March 28, 2006 Waterfront Media, the leading online publisher of self-help experts, announced today it has secured $6 million in Series C financing. New investor NeoCarta Ventures led the round, along with Rho Capital and BEV Capital. The funds will support Waterfront Media's growing health advertising business as well as its entry into new marketing channels, such as television and radio. In addition, the company will launch a major new consumer health initiative in the third quarter of 2006, which will enable consumers to create healthier lives for themselves. Over 11 million consumers have created profiles on one of the company's sites and this new initiative will further the company's goals of delivering condition-specific health information and tools to engage consumers while allowing advertisers to reach a large aggregated audience. In February, comScore Media Metrix ranked Waterfront Media the fourth largest collection of consumer focused health sites with over 4 million unique visitors. comScore ranked the company the third largest collection of women's oriented Web sites with over 5.4 million unique visitors. "Waterfront has proven that it can create successful online businesses based on great brands," said Jarrett Collins, Managing Director of NeoCarta Ventures. "Working with Waterfront allows NeoCarta to continue to invest in businesses that can take advantage of the growth in the online sector." Waterfront partners with leading self-help brands to create consumer- oriented subscription and advertising based businesses. Partners include Heidi Murkoff, author of the best-selling "What to Expect When You're Expecting"; Dr. Andrew Weil, best-selling author of "8 Weeks to Optimum Health"; Arthur Agatston, MD, cardiologist and best-selling author of "The South Beach Diet™"; Dr. Barry Sears, best-selling author of "The Zone"; popular fitness television personality and author Denise Austin; Jean Chatzky, best-selling author of "You Don't Have to Be Rich"; and Connie Guttersen, R.D., Ph.D., author of "The Sonoma Diet." "Waterfront Media is uniquely positioned to allow self-help experts and publishers to engage directly with their consumers while creating a sizable, new revenue stream for themselves," said CEO Ben Wolin. "This additional financing will allow us to grow beyond our core business and support the development of additional services to consumers." Forward Looking Statements Certain matters discussed in this press release which are not historical facts are "forward-looking statements" within the meaning of the federal securities laws and involve risks and uncertainties. The words "may," "plan," "project," "anticipate," "believe," "estimate," "forecast, "expect," "intend," "will," and similar terms are intended to identify forward-looking statements. Forward-looking statements are not guarantees of future performance and involve numerous risks and uncertainties which may cause actual events, our actual financial condition, results of operations and performance to be materially different from the results of expectations expressed or implied by such statements. Although we believe our current expectations to be based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that actual results will not differ materially. About Waterfront Media Waterfront Media is the premier online publisher of self-help experts. With the Internet at the core of its publishing platform, Waterfront Media connects America's best self-help experts with millions of people looking to improve their lives through advice, tools and online communities. Copyright (c) 1998-2006 Access InterComm All rights reserved. |
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Copyright ©2007 Rho Capital Partners, Inc.