Pittsburgh Pirates CEO takes a stake in Gather.com
Gather.com, a social media site for adults, announced that Kevin McClatchy has taken a minority stake in the company. McClatchy is CEO of the Pittsburgh Pirates major league baseball team and a director at The McClatchy Company, the third largest newspaper company in the United States. The funds will be used to expand Gather.com’s product development efforts and support its global expansion plans.
“Kevin’s investment in Gather reflects continuing interest from high profile investors who recognize the power of social media,” says Tom Gerace, Gather.com founder and Chief Executive Officer. “In addition to capital resources, he brings credibility and fresh ideas to further accelerate the growth of the Gather.com community.”
McClatchy joins several individuals and corporations who have invested in Gather.com, including former Lotus Chairman Jim Manzi, Allen & Company, The American Public Media Group, Hearst, The McGraw-Hill Companies, and Southern California Public Radio.
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[...] Source:901am Gather.com, a social media site for adults, announced that Kevin McClatchy has taken a minority stake in the company. McClatchy is CEO of the Pittsburgh Pirates major league baseball team and a director at The McClatchy Company, the third largest newspaper company in the United States. The funds will be used to expand Gather.com’s product […] Share and Enjoy: These icons link to social bookmarking sites where readers can share and discover new web pages. [...]
By Pittsburgh Pirates CEO takes a stake in Gather.com »Technology News | Venture Capital, Startups, Silicon Valley, Web 2.0 Tech on June 19, 2007 7:05 pm