Press Releases
TEN Receives $12 Million in Financing
Vertex Management, Goldman Sachs, and Ameritech lead latest round
SAN FRANCISCO February, 13 1996 Total Entertainment Network (TEN) today announced the completion of a new round of investment capital financing totaling over $12 million. TEN allows people to play fast-action, multiplayer games across the Internet within an environment that sets new standards for online community, style, and ease-of-use. The proceeds from this round of funding will be used for the introduction and roll-out of the service.
Vertex Management, Goldman Sachs, and Ameritech led this round of financing. The other investors were The Carlyle Group, Dominion Income Management Corp., Kleiner Perkins Caufield and Byers and Robertson, Stephens & Company.
"We are thrilled to be working with such an esteemed group of investors," said Daniel Goldman, President of TEN. "Their participation is a tremendous endorsement."
"Vertex has been conducting extensive research on the Internet gaming marketplace," explained Charles Wu, Vice President of Vertex Management Inc.. "TEN has the best technology and the most complete solution. By combining great games with a strong community, TEN gives players exactly what they want."
"TEN has a significant lead over their competitors," said W. Patrick Campbell of Ameritech. "With their advanced Internet technologies, talented management team, and strong relationships with game publishers, TEN will be tough to catch."
On TEN, people can meet to play top multiplayer games, while remaining a click away from the World Wide Web. Members can access TEN through their own Internet connection or call one of TEN's nationwide modems which provide high-speed PPP Internet access. The software will be available initially for Windows 95 and later for the Macintosh.
Leading publishers are now using TEN's Software Development Kit to make their games playable on TEN. TEN has online rights to over a dozen different games by Apogee/3D Realms, Maxis, MicroProse, SimTex, Spectrum HoloByte, Inc. and SSI, over half of which are TEN exclusives. Game CD-ROMs will include the TEN software so players can connect to TEN directly from their game.
Total Entertainment Network, based in San Francisco, received its initial funding in June 1995 from Kleiner Perkins Caufield and Byers. TEN was formed from the merger of Planet Optigon, Inc. and Outland, Inc. two companies which have been developing online technologies and communities for the last 12 years. Software Creations, the #1 rated BBS in the country, is a subsidiary of TEN. To reach TEN, visit http://www.ten.net/ or call 415-778-3500.
For More Info, Call
TEN Press Contact:
Garth Chouteau
Tel: (415) 778-3774
Fax: (415) 778-3520
Internet:
garth@tenetwork.com
Copyright 1996
T E Network, Inc.
Total Entertainment Network and TEN are trademarks
of T E Network, Inc.
Software Creations and WEB BBS are trademarks of Linton Enterprises, Inc., subsidiary of T E Network, Inc.
All other trademarks and registered trademarks are the property of their respective owners', without intent to infringe