ACHRNEWS

ServiceMagic.com Raises Capital for Development

June 5, 2000
GOLDEN, CO — ServiceMagic.com, an online marketplace connecting consumers with local service professionals, announced that it has raised an additional $29 million in financing to provide capital for continued market development.

The financing came from investments with CertainTeed Corp, Maytag Corp., US West Dex™, Softbank Venture Capital, Sequel Venture Partners, and Tango.

The commercial aspects of the agreement will provide ServiceMagic the ability to co-market its offering through US West Dex, CertainTeed, and Maytag’s networks of home repair, maintenance, and remodeling professionals nationwide.

Using www.ServiceMagic.com, consumers can access a free, step-by-step process to define and detail their needs to connect them with professionals from among 485 common home services that currently operate in 20 U.S. markets.