Rasmussen's College Fanz Raises Additional Money, Relocates HQs
College Fanz Inc. (CFI), the company founded by ESPN Founder Bill Rasmussen, has "raised additional money, moved its [HQs], and changed its approach to its mission of running a Web site for fans of small college sports," according to Peter Key of the PHILADELPHIA BUSINESS JOURNAL. CFI raised $3M "from individual investors in its second equity financing," and the funding was managed by Pennsylvania-based private-equity firm the Musser Group. The Musser Group last year "provided [CFI] with its first equity financing, which was less than $1[M]." After its second funding, CFI moved its HQs from a Musser office in Wayne, Pennsylvania, to Moorestown, New Jersey. The CFI site now is "driven by a database that contains information about all the sports played by all the schools in the [NCAA] or [NAIA], with each sport at each school having its own page." College SIDs can "post information to those pages using a tool called the Virtual Pressbox." CFI last Friday was scheduled to introduce a site feature known as America's College Scoreboard, which "will have real-time scores for every NCAA and NAIA team" (PHILADELPHIA BUSINESS JOURNAL, 8/1 issue).
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