NEW YORK, NY, June 7, 1999 – Data Downlink Corporation, a leading web-based provider of business and financial information, announced today that it has secured $4 million in financing from Flatiron Partners and Chase Capital Partners.
“Data Downlink has established a strong customer base among financial institutions, corporations and consulting firms that need access to professional quality financial and economic data on the web,” said Fred Wilson, managing partner of Flatiron Partners. “With more than 500 customer accounts, Data Downlink has demonstrated its ability to deliver critical business information costeffectively using the Web. We are delighted to add Data Downlink to our portfolio of financial information companies.”
Flatiron’s other financial information investments include Multex.com (MLTX), a provider of brokerage research on the Web, and TheStreet.com (TSCM), a Web site for individual and institutional investors. Data Downlink’s other major investor is BARRA, Inc. Founded in 1975, BARRA provides innovative analytical models, software, consulting, investment data and money management services.
The new funds will be used to expand the sales and marketing efforts of the company and incorporate new content and enhancements into Data Downlink’s services. “We are pleased and excited to have Flatiron Partners and Chase Capital Partners making an equity investment in our company,” said Steve Goldstein, CEO of Data Downlink. “They are one of the pre-eminent sources of venture capital for Internet companies, and represent the high caliber of associations we want to continue having as our company grows.”
Chase Capital Partners (www.chase.com), with over $5 billion of invested capital, is one of the largest private equity investment firms in the world. Chase Capital Partners is an affiliate of Chase Manhattan Corporation. The firm has operations in New York, London, Singapore and Sao Paolo. Chase Capital Partners is a leading private equity investor in the technology, media, consumer, medical and retailing industries.
Flatiron Partners (www.flatironpartners.com) is the leading Internet-focused, early stage venture capital firm in New York City. Flatiron Partners specializes in early- stage Internet software, services and media companies, primarily in the New York metropolitan area and along the East Coast.
Data Downlink Corporation, based in New York City and founded in 1996, provides a fully indexed, comprehensive library of premium financial and business information through its web-based information services, called .xls (http://www.xls.com) and compbook (http://compbook.xls.com). Providing access to global company financial data and economic, demographic, industry, country and market-specific data, .xls allows users to automatically download information directly into a Microsoft Excel or Lotus 1-2-3 spreadsheet. Compbook facilitates the selection, collection, presentation and analysis of a wide range of comparative company-oriented business information. For more information about Data Downlink and its 60+ different databases on .xls or its compbook service, visit the company’s website http://www.xls.com or call Customer Service at 212-363-9620 in the U.S. or in London at 44 (0)20 3059 5765.
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