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FOR IMMEDIATE RELEASE
Contact: Ammar Afif, ammar@yackinc.com
NEW ROUND OF FUNDING Major financing positions Yack as leading guide to online events http://www.yack.com
Yack is the authority on what's happening in the world of online events, including streaming media and chats. Twice named the "Best Guide for Live Events" by Yahoo! Internet Life, Yack steers users through the explosively growing world of live and on-demand Web events and programs. In addition to Trans Cosmos, all of Yack's series B investors have re-upped for this latest round, including Mayfield Fund, Waterview Partners, Blue Chip Ventures, Infinity Capital LLC and Weiss, Peck & Greer Venture Partners, L.P. This round of funding was secured under the leadership of Jeff Morris, president and CEO of Yack, who spent 15 years at Showtime, where he headed new media initiatives for the network. Morris, recently named one of the top 10 convergence pioneers by Cable World magazine, said the funding will allow Yack to continue to develop strategic partnerships that will increase its distribution both domestically and internationally, and expand its product offerings, such as Yack's vertical program guides. "With the number of streaming and live events on the Internet expanding every day, there's an increasing need for Yack's products and services," said Morris. "This new round of funding will enable us to form critical new partnerships and extend the reach of our listings and content to ever larger audiences on multiple media platforms." Frank Biondi, senior managing director at WaterView Partners, agreed. "We've followed Yack from the beginning, watching it gain momentum as the major force in Internet content guidance," said Biondi. "We're excited to be working with a company that is poised to dominate this critical and growing category." James J. Geddes, Jr., the senior managing director of Trans Cosmos, will acquire a seat on Yack's board. "With broadband becoming more accessible, there's a tremendous amount of opportunity in the area of online programming," said Geddes. "We're proud to support a company that has made and enabled some of the most significant advancements in this space." Under Morris' leadership, Yack has recently inked deals with a wide range of U.S. and international companies, including chello Broadband and British Telecommunications. Last week, Yack unveiled the first of its new, highly targeted vertical program guides, Yacksters.com, a complete source for teen-related content on the Web.
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