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  • From: "David R. Matusiak" <dave AT matusiak.org>
  • To: internetworkers AT lists.ibiblio.org
  • Subject: Re: [internetworkers] Zoom Culture shuts down
  • Date: Tue, 21 Jan 2003 16:50:29 -0500

here is another link that was forwarded to me:

http://triangletechjournal.homestead.com/Jan03zoom.html

most of us are surprised that it took this long...

On Tuesday, January 21, 2003, at 02:49 PM, Paul Jones wrote:

http://triangle.bizjournals.com/triangle/stories/2003/01/20/ daily16.html

Zoom Culture calls it quits
Chris Baysden

Chapel Hill-based Zoom Culture is shutting down.

The move was confirmed by Donna Sorensen, vice president of sales, who
declined further comment. CEO Kip Frey was not available for comment.

Zoom Culture was founded in 1999. It had about 40 employees at the
company's headquarters and 15 in the field. The shutdown comes almost a
month after Marty Lafferty resigned as president and chief executive
officer of the company.

The decision to end operations is quite a turnaround from a year ago, when
Zoom Culture was raising millions of dollars to finance its vision of
being a television production company that specialized in producing and
distributing original digital video content.

In May 2002, Zoom Culture completed a Series B round of financing for $7
million. The funding was contributed by investors including Chrysalis
Ventures, Intersouth Partners, Cordova Ventures, the Atlantis Group,
Tristate Investment Group and Charlotte Angel Partners. In July 2002, the
company announced that it also had landed commitments for $2.5 million in
funding from investors led by Intersouth Partners, Chrysalis Ventures and
Cordova Ventures.

© 2003 American City Business Journals Inc.




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