Thursday, November 16th, 2006 – SAN FRANCISCO, CA – Real Girls Media Network, Inc. (RGM), an online publishing company, announced today that it closed its Series A funding with 3i and WaldenVC. Concurrent with the funding, David Silverman, partner with 3i, and Steve Eskenazi, managing director at WaldenVC, have joined the company's board of directors.
By combining editorial, user-generated content, and community, Real Girls Media Network aims to build the leading online destinations that address the totality of women's lives, not just specific life events. Unlike existing advertising-supported Web sites, RGM will enable women of all ages to easily submit and publish their opinions and stories. The first Web site, DivineCaroline.com, which is due to launch in early 2007, is targeted for women aged 25 to 54. Additional sites aimed at other age groups will follow in 2007.
"Our unique offering allows real voices to publish like professional writers. We have invested in our proprietary technology to provide a simple process to enable access to the highest end publishing environments to women of all views, walks of life, and experiences," said Kate Everett Thorp, CEO of RGM. Member-written stories, reviews, and related photos will appear alongside staff-written articles about everything from parenting to careers. "Beyond editorial and user-generated content," Thorp said, "our properties will provide traditional community services such as reviews and forums to complete the connection of women, their purchasing power, and their influence in a centralized destination."
"Close to 57% percent of online users are women – and this market is currently underserved," said David Silverman, partner with 3i and board member of Real Girls Media Network. "RGM's new interactive site, DivineCaroline.com, and its plans for a network of quality online sites, will provide a real sense of community for women which is becoming more and more important in a busier and increasingly isolated society. We look forward to supporting RGM's executive team to be highly successful in this venture."
Unlike existing advertising-supported Web sites, RGM's sites will enable women of all ages to easily submit and automatically publish their opinions and stories. The founders developed the concept of these new properties as a response to seeing women's appetite to share their experiences, with few compelling online experiences to provide an effective platform. The recent funding will be used for the development of the first Web site, DivineCaroline.com.
Thorp, who conceived the idea, most recently served as President, Digital Worldwide for AKQA. She was one of the early employees of CNET and a founder of Lot21, a digital advertising agency that was later acquired by Carat. Prior to launching RGM, Thorp served as a venture partner to the San Francisco venture capital firm of WaldenVC. The three other founders are Chief Creative Officer Tamara Birdsall, Executive Vice President of Technology Thomas Kudrycki and Vice President of Strategy Suha Araj.
About RGM
Real Girls Media Network, Inc. is a San Francisco-based, privately held company backed by 3i and WaldenVC. DivineCarolineTM and RGMTM are trademarks of Real Girls Media Network, Inc. More information is available at www.realgirlsmedia.com. The first network site can be accessed at www.divinecaroline.com.
About 3i
3i is a world leader in venture capital and private equity. We focus on Buyouts, Growth Capital and Venture Capital and invest across Europe, in the United States and in Asia. Our competitive advantage comes from our international network and the strength and breadth of our relationships in business. These underpin the value that we deliver to our portfolio and to our shareholders. From early stage venture capital to growth capital and buyouts, 3i invests over $2bn a year in some of the most exciting and ambitious companies in the world, from Europe and US to Asia and Israel, in healthcare and cleantech to IT (telecoms, Internet, software, media and electronics/semiconductors).
About WaldenVC WaldenVC is a venture capital firm that focuses on investments in Digital Media, Technology-Enabled Services, and Internet Commerce companies. With over $400 million under management, WaldenVC invests across all stages of growth, from startups to public corporations. Leveraging its operating experience and industry expertise, WaldenVC has consistently generated above-average returns over its thirty-one year history. Additional information can be found at www.waldenvc.com.
Press contacts:
Veronica Kavanagh
Real Girls Media Network, Inc.
press@realgirlsmedia.com
415-848-2600
Katja Gehrt
3i US
katja.gehrt@3i.com
650-470-3210
Real Girls Media Network, Inc.
www.realgirlsmedia.com
795 Folsom Street, First Floor
San Francisco, CA 94107
Phone 415-848-2600 Fax 415-848-4848
