Interpublic invests in Tripod

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Tripod, operator of a Web site aimed at Generation Xers, received $10 million in financing from Interpublic Group of Cos. and several venture capital firm. The funding will support the expansion of Tripod's business into additional media platforms. The company already operates a magazine, Tools for Life; has relationships with CNNfn and other TV companies; and is now developing book publishing and other media plans. The Web site, targeting 18-to-34-year-olds with practical advice on key topics such as careers, money, and health, currently has more than 320,000 registered members.

"Advertisers and marketers have traditionally faced big challenges in reaching the elusive young adult audience," said Philip H. Geier Jr., Interpublic's chairman of the board and CEO. "By mastering the needs of young people on the Internet and elsewhere, Tripod offers a compelling way to connect with this important demographic. We're excited about working with Tripod and its talented team."

Interpublic has made limited investments in new media. It acquired a stake in CKS Group a few years ago, but the Tripod investment represents its first venture into Internet content.

Copyright May 1997, Crain Communications Inc.

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