USA.Net snares cash/ Four major investors kick in $60 million

From: The Gazette | Date: March 21, 2000| Author: | Copyright information

USA.Net Inc. has raised $60 million from four top-flight investors in the biggest venture-capital deal ever in Colorado Springs, the company will announce today.

USA.Net will use the money to fuel its e-mail services business as it vies to dominate the fast-growing, multibillion dollar market.

"This was a great move for the company," said Chairman John Street, who has engineered USA.Net's transformation from providing free e-mail accounts in 1996 to handling e-mail services under contract for such corporate giants as United Airlines. "It gives us great long-term potential. I'm delighted."

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