Press Release For Immediate Release Contact: David Adler 646.638.3600 Ext: 101
Cell: 917.543.1024, New Marketplace and Showcase Site for Business Events Industry, Raises $2.5 Million in First Round
NEW YORK, May 3, 2000 -, a marketplace and showcase site targeting the premium "special events" industry, said it received $2.5 million of Series A financing. Milestone Venture Partners, an early stage B2B venture firm focusing on the New York metropolitan area, led the round along with prominent individual investors including William F. Reilly, former chairman and CEO of PRIMEDIA; Andrew Farkas, chairman and CEO of Insignia Financial Group; Matthew Bronfman; and Amy Churgin, publisher of Architectural Digest. Todd Pietri of Milestone Venture Partners will join the Board of Directors along with Reilly, Louis Perlman and Bronfman. senior management includes industry leaders and innovators. David Adler, 46, who was the founder and president of Washington Dossier magazine, a glossy magazine that covered the entertaining, social and political world of the nation's capital, and the former corporate communications chief for PRIMEDIA and Macmillan Inc. will assume the role of CEO and editorial director. Richard Aaron, CMP, CSEP, 53, a special events industry pioneer and one of the leading experts in the corporate special events industry, will serve as president. Jonathan Adler, 43, formerly chairman and CEO of The Adler Group, Inc., Apartment Shoppers Guides, New Homes Shoppers Guides and former publisher of Washington Dossier will be chairman and COO of the Company.
Funds will be used to build and beta-test the site in New York City to a closed user group in fall 2000. A multi-market roll out is planned for early 2001.