PxPixel
ESPN Invests in Active Network - Broadcasting & Cable

ESPN Invests in Active Network

Sports network makes investment is digital sports/recreation company.
Author:
Publish date:

ESPN is the lead investors in an $80 million, sixth round of venture capital funding Thursday for The Active Network, which is a collection of sports/recreation businesses that says it generated $102 million in 2007 sales.

 Active Network’s profitability isn’t disclosed, and new capital will fund operations and make acquisitions.

 It’s not known how much Disney-owned ESPN provided of the $80 million total raised and the San Diego, Calif.-based Active Network has taken in $275 million in aggregate investment since 1999.

 Active Network is a provider of technology, marketing solutions and media properties for sports and recreation. Its most popular web sites are Active.com, eteamz.com, LaxPower.com and CoolRunning.com.

 Since 2007, Active Network has acquired 11 companies including including Hy-Tek Sports Software, LaxPower, Cool Running and Golfbuzz

 Past investors include Canaan Partners, North Bridge Venture Partners and Performance Equity Partners. In 2004, Active Network filed to raise $47 million in an initial public offering, but the IPO was dropped due to unfavorable stock market conditions.

An ESPN spokesman said the sports giant had made previous investment in Active Network and there is a content sharing deal in place.

Related