The Active Network has raised a whopping $65 million worth of funds led by the Canaan Partners, backed up by ESPN and four other returning investors.
Based in San Diego, Active Network is an online community designed to reach out to active people whose interests include sports and recreational activities, lifestyle, nutrition, and fitness. It has the largest directory of facilities, venues and classes, and other recreation-related listings, and provides weekly and monthly newsletters, online tools, and related content. Being a social network in itself, members are also allowed to create personal profiles, upload videos, and interact with other members.
PEHub reports that, in an informal talk with Norman Dowling, Active’s CFO, the fund raised will be used to acquire more small niche sites instead of big ones that have already made a name for themselves.
Originally posted on September 10, 2007 @ 10:19 pm