The Active Network actively raising venture capital to
expand.
by Randolph, Ned
The Active Network Inc., a La Jolla-based provider of online sports
registration and related services, plugged $80 million into its
10-year-old operations with a sixth round of funding led by ESPN Inc.
and participation from previous investors Canaan Partners, North Bridge
Venture Partners and Performance Equity Partners.
The placement, announced Aug. 27, will be used for acquisitions and
to grow its infrastructure.
The Active Network has been on a buying spree in the past year and
a half, making 11 acquisitions since early 2007. The latest was its July
8 purchase of HyTek Sports Software, a swimming and track-and-field
software management tool used by national governing bodies, professional
leagues and schools in 30 countries, Active Network says.
Active Network boasts 17 million users through Active.com,
including 1.3 million unique visits per month, according to the company.
In 2007, the company said it generated $102 million in revenue, up
from $64 million in 2006. It has 2,000 employees, including 400 in San
Diego, said spokesman Jake Gonzales.
Active has raised $275 million in capital in 10 years. The company
was on track for an initial public offering in 2004 but withdrew it.
Active generates most revenue through transaction fees for event
registrations, totaling more than 10 million transactions in 2007.
In 2006, ESPN, a unit of the Walt Disney Co., also invested more
than $20 million, and runs advertising campaigns and places its logo on
the network's sites.
Send technology news to Ned Randolph at nrandolph@sdbj.com.
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