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TCV Buys Stake in

Jay Hoag, TCV's founding general partner, will join's board.
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Technology Crossover Ventures, an investment firm that provides capital to late-stage private and public companies, has agreed to purchase a minority stake in


, the publisher of this Web site, in order to support its accelerated expansion strategy.

The investment of $55 million represents the purchase of preferred stock and warrants to buy common stock. The preferred stock converts into common stock at $14.26 a share. The five-year warrants permit TCV to purchase approximately 1.1 million common shares of at an exercise price of $15.686, or a premium of 10%.

Additionally, Jay Hoag, founding general partner of TCV, will join's board.

"TCV is one of the largest private equity and venture capital firms, with a strong reputation and history of success," said Tom Clarke, chairman and CEO of "Our alignment with TCV is a clear indicator of our intention to aggressively move forward with our expansion plans as a leading player in the online financial media sector." has been broadening its content as it seeks to become the premier online destination for money. The company has recently acquired, a financial social-networking Web site;, a provider of rates on CDs, savings accounts, interest checking, money markets, mortgage/home equity and auto loans; and, a provider of pricing solutions for banks and credit unions.

The company also recently purchased, a one-stop shop for advertisers, ad agencies and corporations in search of a broad spectrum of interactive ad services. In the coming months, will launch a new site, and will relaunch its free sites, and

"We at TCV view as a premier financial media company and an industry pioneer," Hoag said in a statement. "Our confidence in's growth strategy is based on an appreciation of its strong historical execution and an ability to intuitively navigate marketplace trends."

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