Short Take: USA.Net completes financing

Web-based email provider USA.Net announced the completion of a round of financing for approximately $23 million, including an investment from Netscape Communications. Previous investors include American Express and Philadelphia Ventures. USA.Net generates revenues from online advertising, content distribution, and service fees. Over the past six months, the service's subscriber base has grown by more than 50 percent. With this financing, the company hopes to increase its market share further.

Jan. 2, 2002 4:43 p.m. PT

Web-based email provider announced the completion of a round of financing for approximately $23 million, including an investment from Netscape Communications. Previous investors include American Express and Philadelphia Ventures. USA.Net generates revenues from online advertising, content distribution, and service fees. Over the past six months, the service's subscriber base has grown by more than 50 percent. With this financing, the company hopes to increase its market share further.