SHOP.COM Secures $25 Million From Oak Investment Partners

Comprehensive Product Selection and Technology Prowess Drive Online

Marketplace



Sep 26, 2005, 01:00 ET from SHOP.COM

    MONTEREY, Calif., Sept. 26 /PRNewswire/ -- SHOP.COM(TM) (www.shop.com),
 the destination online marketplace where people conveniently shop for
 thousands of trusted brands using a single account, today announced that it
 closed its first ever venture funding through a $25 million round of financing
 led by Oak Investment Partners.  SHOP.COM will utilize the capital infusion to
 support the company's aggressive marketing and customer service initiatives
 aimed at further accelerating the over 1,000% growth in traffic it
 demonstrated in 2004.
     "SHOP.COM represents the next step in the evolution of retailing on the
 Web," said Fred Harman, General Partner at Oak Investment Partners.  "This
 organization lives to create the ideal online shopping experience.  As a
 result, SHOP.COM has carved out a defensible position by combining innovative
 technology with a unique business model.  The extraordinary online marketplace
 they've built provides a superior shopping experience to online consumers
 while also providing a more efficient return on investment to online
 merchants."
     With more than 25 years of investment experience, Oak Investment Partners
 is a growth-oriented private equity firm with a total of $4.2 billion in
 committed capital.  Pagemill Partners LLC (formerly Inveraray Partners)
 managed the financing for SHOP.COM.
     "Oak's funding is a testament to the vitality of our business model and
 the outstanding creativity of the SHOP.COM team," said Lee Lorenzen, CEO of
 SHOP.COM.  "These resources will allow us to provide an even more a remarkable
 shopping experience for our consumers as we pursue our passion to deliver the
 most satisfying remote shopping experience in the world.  We believe
 SHOP.COM's business model represents the future of e-commerce, and we are
 establishing that future by simultaneously delighting shoppers while
 delivering true incremental value to merchants."
 
     About Oak Investment Partners
     Oak Investment Partners is a multi-stage venture capital firm with a total
 of $5.8 billion in committed capital. Investments are primarily focused on
 growth opportunities in internet/enterprise software and services,
 telecommunications equipment and services, data storage, financial services
 technology, outsourced services, healthcare services, and retail. Over a 30-
 year history, Oak has achieved a strong track record as a stage-independent
 investor funding more than 400 companies at key points in their lifecycle. Oak
 has been involved in the formation of companies, funded spinouts of operating
 divisions and technology assets, and provided growth equity to mid- and late-
 stage private businesses, and to public companies through PIPE investments. A
 representative list of Oak portfolio companies includes Aquantive, Compaq,
 Fastclick, Inktomi, InterNAP, Netblue, Office Depot, Parametric, Polycom,
 Seagate, Sybase, Synopsys, Tele Atlas, Tensilica, and Wireless Facilities.
 For more information, please visit www.oakvc.com.
 
     About Pagemill Partners LLC
     Pagemill Partners LLC was created by successful technology executives to
 assist their portfolio clients with unprecedented support in all areas of
 Mergers & Acquisitions. All of the Managing Directors have had significant
 hands-on experience in building successful companies organically and by way of
 acquisition. They have been responsible for over $1 Billion worth of
 transactions in M&A, capital raises and fundings.  More information is
 available at www.pmib.com.
 
     About SHOP.COM(TM)
     SHOP.COM is the destination online marketplace designed to help consumers
 more conveniently shop on the Web.  SHOP.COM organizes millions of products
 from hundreds of merchants in a single location, allowing consumers to shop
 across them all -- start to finish -- with one personal password-protected
 account.  SHOP.COM is a privately-held company headquartered in Monterey,
 Calif.  For more information, visit the company's Web site at www.SHOP.COM.
 
 

SOURCE SHOP.COM