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Ripple Secures $5 Million in Series A Financing From Venture Capital Firms Trinity Ventures and Draper Fisher Jurvetson
| Source: Ripple
EL SEGUNDO, CA -- (MARKET WIRE) -- January 23, 2007 -- Ripple, a leading developer, distributor and
programmer of out-of-home digital networks, announced today that it has
secured $5 million in a first round of capital funding from Trinity
Ventures and Draper Fisher Jurveston.
Already broadcasting on HD screens in over 375 Southern California and
Hawaii retail locations, Ripple's programming is seen by over seven million
viewers each month. The Company's up-to-the-minute content includes
headline news from CBS, sports from ESPN, and entertainment news from E!,
as well as a diverse offering of video and location-based informational
content from top television and Internet brands.
"Trinity Ventures and Draper Fisher Jurvetson have solid experience in both
retail and technology, which we feel can help us successfully scale our
network," said Alex Nocifera, President of Sales and Distribution for
Ripple. "We are excited to add their knowledge and vision to our team."
Ripple offers an opportunity for national and local advertisers to target
hard-to-reach, sought-after audiences while being presented next to
household content brands. The Company's proprietary technology solution
and close collaboration with its retail partners creates a unique
experience in that what the viewer sees on Ripple's screens is customized
for and highly relevant to each location and their in-store audience.
"Ripple's strong network, impressive technology platform for self-serve
advertising and distribution and compelling content are reaching specific
consumers exactly where they are during the course of the day, in
high-traffic retail locations," said Timothy McAdam, General Partner for
Trinity Ventures. "Digital out-of-home advertising is a hot sector and we
are pleased to add a leader in this space to our portfolio. We look
forward to being an integral part of Ripple's growth."
"Ripple is uniquely positioned to capture the value created by converging
worlds: internet media, out-of-home networks and local advertising," said
Emily Melton, Partner of Draper Fisher Jurvetson. "Ripple will change the
way people experience content out of home and DFJ is excited to be part of
this next generation media network."
Ripple plans to increase its footprint in Southern California and into
other major US markets.
About Trinity Ventures
Trinity Ventures, a 20-year veteran in the venture business with more than
$1 billion under management, partners with exceptional entrepreneurs to
build great companies. Trinity Ventures focuses on early-stage technology
investment opportunities with a particular emphasis on the Digital Media,
Internet Services, Mobility, Security and Software markets. Trinity has
invested in well over 100 ventures, including such leading companies as
Focus Media, Blue Nile, Crescendo Communications, Extreme Networks, Forte
Software, Illustra, LoopNet, Speedera Networks, Starbucks and Sygate.
About Draper Fisher Jurvetson
Draper Fisher Jurvetson (DFJ) is the only venture capital firm with global
presence through a network of affiliated funds, with offices in more than
30 cities around the world and approximately $3.5 billion in capital
commitments. DFJ's mission is to identify, provide capital for, and serve
extraordinary entrepreneurs anywhere who want to change the world. Over
the past twenty years, DFJ has been proud to back approximately 300
companies across a myriad of sectors including such industry changing
catalysts as Hotmail (acquired by Microsoft), Baidu, Skype (acquired by
eBay), United Online, Overture (acquired by Yahoo!), Interwoven, 411
(acquired by Yahoo!), Parametric, and Digidesign (acquired by Avid).
About Ripple
Launched in 2004, Ripple (formerly called ActiveMaps, Inc.) provides
digital entertainment and news content in over 375 locations throughout
Southern California and Hawaii. Headquartered in El Segundo, Calif.,
Ripple's expanding network currently reaches over 7 million unique
customers every month. The Company's current distribution partners include
Coffee Bean and Tea Leaf, Diedrich Coffee, Jiffy Lube, CBS Outdoor, Arden
Realty, Kilroy Realty and G&L Realty. Ripple's media partners include
ESPN, E! Entertainment, Yahoo!, CBS and Clear Channel.
For more information on Ripple, please visit www.rippletv.com.