NextVenue Completes $30 Million Financing
Business to business streaming company NextVenue (http://www.nextvenue.com) announced that it has completed a $30 million private placement.
Investors in thefinancing included Arena Capital, Deutsche Bank, Goldman Sachs, entitiesaffiliated with Merrill Lynch, Microsoft, Morgan Stanley, NBC, Primedia, J&WSeligman, Transworld Entertainment, and Van Wagoner.
"We've come a long way in short time.Theindustry leaders who founded the original joint venture, CNBC/Dow JonesBusiness Video -- Microsoft, NBC and Dow Jones -- continue to be majorinvestors, along with several major investment banks and institutions," said Nicholas Balletta, NextVenue's Presidentand Chief Executive Officer. "Webecame NextVenue in November 1998 and have significantly expanded ourservicessince then by leveraging our leading edge experience in the capture,production and distribution of events in streaming video. These servicestoday encompass not only the financial community and corporations but abroadrange of other industries, including live entertainment. This majorinjectionof additional capital will further strengthen our broad financial base andsupport our global growth and expansion plans."
Last August, New York Governor George E.Pataki and New York City Mayor Rudolph Giuliani granted NextVenue capital grant, discounted energy and sales tax exemptions to move from its Fort Lee, New Jersey headquarters.
NextVenue produces financial content utilizing streaming video, includingvirtual roadshows.