Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (1) | Ignore Thread Prev | Next
Author: Kcourt Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 12  
Subject: J Net Invests $8 Million in TechTrader Date: 6/16/2000 10:08 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 2
J Net Invests $8 Million in TechTrader; J Net Receives Two Seats on TechTrader
Board of Directors

LAS VEGAS, Jun 16, 2000 (BUSINESS WIRE) -- Jackpot Enterprises, Inc. (NYSE:J),
which is being renamed J Net Enterprises, Inc. pending shareholder approval, today announced it has invested $8 million in TechTrader, Inc. a leading enabling technology provider for next-generation Net markets. As part of the
investment J Net Enterprises will also receive two seats on TechTrader's Board of Directors.

"The investment in TechTrader represents a significant enhancement to the incubator model we outlined for J Net Enterprises in March and will compliment the products we offer through Digital Boardwalk," said Allan Tessler, Chairman
and Chief Executive Officer of J Net Enterprises. "TechTrader's services will be immediately available across the J Net Venture portfolio of companies and for all new relationships we forge. Additionally, we anticipate the partnership with
TechTrader will enable our J Net Ventures I fund to have even earlier access to evolving, best-in-class technology companies."

"We are excited about the strategic alliance with J Net," said Jacob Pechenik, Chief Executive Officer of TechTrader, Inc. "The capital we raised will allow
TechTrader to scale its business and deliver even more value to our partner companies. We are committed to maintaining our leading e-market development position by further developing and enhancing TechTrader's innovative e-market
technologies."

J Net's $8 million investment was part of TechTrader's $19 million Series B funding. J Net co-led the funding along with Vistaar, Inc., a global B2B infrastructure provider that invests and supports start-up companies throughout their lifecycle - from start-up through a mature and profitable operating mode. Banc One Equity Capital also participated in the funding.
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (1) | Ignore Thread Prev | Next

Announcements

Post of the Day:
Berkshire Hathaway

Is the Market Overvalued?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement