SportsLine USA, an online service devoted exclusively to
sports information, entertainment and merchandise, announced
yesterday that the company has closed its second round of venture
financing for $11M. The new investment group includes Reuters
NewMedia, TCI, Kleiner Perkins Caufield & Byers, New York Life
and Alliance Technology Ventures. The investment brings
SportsLine's total outside equity investment capital to $16M.
SportsLine USA had previously raised $5M from Kleiner Perkins and
a private investor. SportsLine CEO Michael Levy: "Our tenet
that sports on the Internet is a viable vertical market gains
credibility when high profile media and venture capital players
like Reuters, TCI, Kleiner Perkins, New York Life and Alliance
Technology support SportsLine USA's efforts and future. ... We
believe the $11 million to be one of the largest private equity
infusions for a content-related company on the Internet"
(SportsLine USA). Reuters NewMedia Exec VP Andrew Nibley and
Alliance's Stephen Fleming will join SportsLine's board (James
McNair, MIAMI HERALD, 3/14).
HEAVY HITS: The "ESPN SportsZone Tournament Challenge
presented By Pizza Hut" has received more than 100,000 entries
from around the world, according to ESPNET SportsZone GM Tom
Hagopian and Starwave VP/Sports Publisher Geoff Reiss. Reiss:
"These numbers re-affirm the widely held view that ESPNET
SportsZone is the ultimate source for on-line sports news,
statistics and games" (ESPN).
