:_'--._www.goldenparachute.com
GOLDEN
P A R A C H U T E TM
COMPANY CONTACT: Gayle Cline Marketing Communications Consultant Golden Parachute, Inc. Tel: 650.787.8042 Email: gayle@goldenparachute.com URL: www.goldenparachute.com FOR RELEASE October 18, 1999
Golden Parachute Corporation Brings Exclusivity to the Internet: Secures First Round Funding Startup Creates Convenient Forum for Elite Graduates to Network and Collaborate on Business, Career and Social Levels Redwood City, Calif. - October 18, 1999 - Bringing exclusivity to the Internet, a group led by an entertainment industry brand builder, today announced Golden Parachute, Inc.,
an Intemet startup formed to develop and deliver the premier online destination exclusively for alumni and students of top colleges and universities to network and collaborate on business, career, and social levels. This marks the first time a company has formally announced its intent to architect and deliver an online community driven by a membership model based on exclusivity. of the Intemet continues to shape the way
"As the convenience and broadreach
the world works and plays, Golden Parachute is proud to be driving the next innovation, exclusivity on the Internet, into the new millennium" said Negin Kamangar, founder,
president and chief executive officer of Golden Parachute, Inc. "Our target market is comprised of some of the most brilliant minds--individuals prestigious academic institutions. who have been educated at
This exclusivity based on educational background
provides the common bond necessary for a viable community, and will afford advertisers, marketers and commerce players the ability to reach a specific and intended market segment." The company also announced today that it has received a $1 million Series A first round of financing led by Elliott Associates, L.P., Garage.com and several angel investors. The company intends to use these funds to step up its marketing efforts and to
2800 (650) 364Bay Road I000 tel
Redwood City CA 94063 -more(650) 261-9975fax
continue building its infrastructure as it prepares to move from beta test mode to deliver a new Web site scheduled to debut in early November. "Golden Parachute has all the ingredients to be the leading portal for the highcaliber market in this new era of targeted online communities--a a focused vision and a management viable business model,
team experienced in building strong consumer
brands," said Guy Kawasaki, founder and CEO of Garage.com. "Golden Parachute's impressive membership growth in a short period of time is testimony to the fact that the
market is eager for a community where exclusivity and networking are king."
Elite Market: Alumni and Students of Top Universities Golden Parachute is targeting alumni and registered students of top colleges and universities worldwide, an upscale version of the general alumni and student market.
Many of these 40 million alumni and students recognize that networking is the single most powerful means of furthering themselves in their career and business endeavors. Yet, research findings indicate that these individuals are taking the same "pounding the pavement" steps of their predecessors and continue to rely on limited career networking alternative
channels available to them because a convenient, effective and comprehensive has not been available to date. Additionally,
these individuals, upon graduation from
college, continue to experience the same "hit or miss" approach in evolving their social circle because a premium, convenient and secure alternative has not been introduced to this highly discerning group. Using the power of the Internet, coupled with a deep understanding of this market segment, Golden Parachute brings its members state-of-the-
art tools and key opportunities to evolve their business, career and social circles for oneon-one and group networking. Because of the enormous spending power afforded by a substantially higher than average disposable income, and their academic credentials, this demographic is highly sought after by marketers, employers and recruiters. is one that
Golden Parachute is able
to bring this elite group together because of its ability to focus on the needs of a specific market and foster a true sense of community, resulting in a "managed" quality of experience for the end user--the Golden Parachute member.
"As the number of consumers on the Web continues to soar, demand for sites
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that provide consumers with the opporttmity to meet and interact with others who share similar interests is growing dramatically. users, communities Consequently, By satisfying the social and personal needs of with their members.
are able to establish a close relationship
members tend to be loyal to and spend more time online at community
sites," said Derek L. Brown, consumer 'Internet analyst with Volpe Brown Whelan & Company. "We are witnessing the beginning of a new Internet play, where personalized experience is based on the sharing of a common bond between member users. Gone are the days when you can be 'everything to everyone,' "said Kamangar. Golden Parachute Offerings
Golden Parachute is a virtual and real-world community for alumni and students of top universities. From the online forums and resources, to real world events and inperson meeting opportunities, Golden Parachute provides its members with a convenient, to forge partnerships with peers and industry leaders.
effective and quality environment
"By harnessing a common bond, Golden Parachute is fostering a true sense of community where members of this elite group can evolve their network of professional and personal
contacts with others of similar caliber" said Kamangar. "As members, we can gain from interaction with other members who are industry leaders, innovative thinkers and market
makers ... our peers who have 'been there and done that.' Really, our vision is about bringing brilliant minds together by providing them a variety of fun and innovative online and offline avenues to meet each other." GoldenParachute.com--the company's online community and core offering--presently in beta test mode, includes: • Alumni Search--where members can search for fellow registered alumni, using Golden Parachute's sophisticated search system that enables searches using various criteria--from University attended, profession and geographic location and sports interests to more sophisticated ad hoc queries • Mentoring--where members can connect with or volunteer to be a mentor • Entrepreneurial Ventures - where members can team up with other members to execute on a vision or to find a new venture • Job Search--a place for members to create and post resumes and search for their next career move • Mergers & Acquisitions (M & A) Social Lounge--where members can connect with other single members for friendship and romance
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• •
Chat & Discussion Forums--a place for members to collaborate and "talk" with fellow members Profile Pages - Where members can build and maintain a personal homepage profiling their skills and showcasing their successes.
Partnerships
and Alliances
To grow its membership-base and continue to add to the arsenal of careerdevelopment tools and social outing options, Golden Parachute is working with a number
of strategic partners from the career development, higher education and the content and entertainment market that are top-tier and dedicated to providing value. that said
"We are addressing the career, business, and social needs of individuals belong to a socioeconomic Kamangar.
segment historically known to harbor high expectations,"
"As members of the very demographic we are targeting, we know and can
focus on meeting the needs of this elite group of individuals. Our vision is one that makes sense from the end-user perspective---our member--and from a business standpoint. By
meeting the needs of alumni and students of top universities, Golden Parachute is able to meet the needs of advertisers, employers, and recruiters who want to reach this demographic." About Golden Parachute, Inc. Golden Parachute, Inc. was formed to develop and deliver the premier online destination for alumni and students of top colleges and universities for career, business and social networking needs. Golden Parachute is the first company to adhere to a membership model based on exclusivity for its--online and offline---communities. portals, Golden Parachute focuses
Unlike other online communities
and general-purpose
on the specific needs of its elite membership to manage the quality of experience for its
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members and to provide a high return-on-investment
(ROI) for advertisers, merchants,
partners and affiliates looking to reach a specific market segment. Based in Redwood City, California, the company can be reached at (650) 364-1000. via the Internet, address your request to info@goldenparachute.com, company's Web site at http://www.goldenparachute.com. About Elliott Associates, L.P. Elliott Associates, L.P., a New York investment fund, and its sister fund, Westgate International Limited, represent one of the oldest and most stable investment To receive information or access the
groups. Elliott was formed in 1977 with $1 million of capital, and Westgate Was formed in late 1994 with $80 million of capital. The two funds now manage over $1 billion of capital and have a number of private investments in a growing stable of technology companies. About Garage.cam Garage.com offers entrepreneurs
and investors an innovative, Web-based
approach to high tech and medical sciences venture financing and investing. In conjunction with its broker/dealer affiliates, Garage.com helps entrepreneurs attract the high quality investors they need and investors find the outstanding startups they want to fund. Find out more by visiting the Web site at http://www.garage.com.
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