Primedia Ventures takes stake in Internet company

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Primedia Ventures took a minority stake in Intellipost Corp., San Francisco, an Internet company that specializes in loyalty rewards programs and online direct marketing. Terms of the deal were not disclosed. So far, Intellipost has raised more than $25 million from a variety of investors. Experian is still the biggest single investor in Intellipost, owning a 19.9% stake in the startup company. Intellipost has 1.9 million members in its incentive programs. Steve Markowitz, Intellipost chairman-CEO, said the company would use Primedia's consumer and trade magazines to promote its programs and that, in exchange, Intellipost would promote Primedia's magazine titles to its loyalty members.

Copyright January 1999, Crain Communications Inc.

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