IPG's New Media Move
Interpublic Group of Cos. last week made its first new media investment in a content company, joining other backers in a $10 million financing of Tripod, a Williamstown, Mass.-based content and applications developer. The deal follows IPG's acquisition last month of a minority stake in new media agency Nicholson NY.
iVillage's Health Plan
iVillage, New York, has completed a third round of financing, raising $21.5 million from original investors including America Online, Tribune Co., and Kleiner Perkins Caufield & Byers. New investors in the content network include CIBC Wood Gundy Capital and Rho Management. With the new capital, iVillage will buy Health ResponseAbility Systems, a Herndon, Va.-based privately owned company that produces the Better Health and Medical Network on AOL.
Battle of the City Guides
Knight-Ridder daily St. Paul Pioneer Press and on-line listings specialist Zip2 plan to launch jointly a Web city guide for Minneapolis/St. Paul this summer. The first Zip2 local guide went up in the Bay Area with Knight-Ridder's San Jose Mercury News. America Online's Digital City Twin Cities launched a month ago. Microsoft plans a Sidewalk guide for the area, but has yet to set a start date.
Copyright ASM Communications, Inc. (1997) ALL RIGHTS RESERVED