NewsStand Secures $8 Million in Venture Funding from Adams Capital Management

Nov 05, 2002


NewsStand, Inc., a provider of digital publishing and delivery solutions, has closed an $8 million round of venture financing from Adams Capital Management, Inc., a national venture capital firm that invests in information technology and telecommunications companies. This funding round is in addition to $8 million Series B obtained in March 2002 from SSM Ventures, Noro-Moseley Partners, and The New York Times Company. NewsStand holds long term agreements with 37 newspapers, magazines, and newsletters including such publishers as The New York Times, Barron's, China Daily, International Herald Tribune, Manila Times, Harvard Business Review, The Globe & Mail, and The Australian. NewsStand currently processes nearly a terabyte of content each month and delivers paid digital editions to customers in more than 100 countries around the world. NewsStand will use the funding to increase marketing and sales, implement new product development, and expand into new, strategic markets.