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NetZero nabs more funding

Published on .

Free ad-supported Internet access service NetZero, Westlake Village, Calif., said it has secured a second round of financing from three venture capital partners led by Draper Fisher Jurvetson, Redwood City. Other investors include Foundation Capital, Menlo Park, and Idealab Capital Partners, Pasadena. While NetZero did not disclose exact numbers, it said the financing was in the multimillion-dollar range.

Earlier this week, Idealab! announced Free-PC, a company that will offer free PCs and Internet access in return for being able to send targeted ads to the consumer's desktop. Free-PC will deliver Compaq Presario Internet PCs with AltaVista Internet services. NetZero will supply free Internet access and free e-mail services. USA Networks has agreed to invest $10 million in the new company.

Copyright February 1999, Crain Communications Inc.

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