Skip to content

Bechtel’s Impact Report

Bolt Secures Funding From Time Warner, Comcast, Entercom, America Online, Ford Motor Company, And Ot

  • 07 December 1999
  • Press Release

Bolt Secures Funding From Time Warner, Comcast, Entercom, America Online, Ford Motor Company, And Others

Leading these institutions in the current round was Moore Capital, an investor in iVillage, NextCard, and GoTo.com. Richard J. Bressler, chairman and chief executive officer of Time Warner Digital Media said, "Time Warner recognizes the value of the Internet in connecting with young consumers today. We are confident Bolt can be a leader in creating innovative ways to reach teens online and offline." The funding will aid Bolt.com, one of the leading destinations for teens on the Internet, to expand branding efforts throughout media, entertainment, cable, radio, and automotive industries.

Financial terms of the agreements were not disclosed. Bolt, Inc. recently announced an agreement with America Online, Inc. under which Bolt will develop and manage new community services for AOL Teens Channel.
Comcast Interactive Capital is a corporate venture capital fund affiliated with Comcast Corporation, a diversified leader in broadband services, telecommunications, electronic commerce, and entertainment, with interests in cable networks QVC, E!, and Style, as well as E!Online.

Entercom Communications Corp. is the fourth largest radio broadcasting company in the United States. The company owns and operates a portfolio of 88 stations in 16 markets with a variety of programming platforms from rock to country and sports. In addition, Entercom Communications Corp. is the exclusive radio broadcaster of a dozen major league sports teams and numerous major college teams. Ford Motor Company maintains online partnerships with Sesame Street, iVillage, and WNET/Nature in addition to many others. "We are pleased to have secured investments from some of the leading names in their respective industries," said Dan Pelson, president and CEO of Bolt, Inc.

"This round will help Bolt to fortify its branding efforts and facilitate teen community and commerce. Bolt, Inc. is dedicated to providing teens with a voice and we plan to reach teens wherever they may be, both online and offline."

"Bolt has a solid expansion model focused on a demographic, teens, that is a major consumer of multiple media channels," said Steve Harrick, principal at Highland Capital Partners and board member of Bolt, Inc. "We continue to be impressed by Bolt's progress. The recent financing strengthens the company and we are excited by the opportunities presented by this new round of investors."

Key Contact

About Bechtel

Bechtel is a trusted engineering, construction and project management partner to industry and government. Differentiated by the quality of our people and our relentless drive to deliver the most successful outcomes, we align our capabilities to our customers’ objectives to create a lasting positive impact. Since 1898, we have helped customers complete more than 25,000 projects in 160 countries on all seven continents that have created jobs, grown economies, improved the resiliency of the world's infrastructure, increased access to energy, resources, and vital services, and made the world a safer, cleaner place.  

Bechtel serves the Energy; Infrastructure; Manufacturing & Technology; Mining & Metals; and Nuclear, Security & Environmental markets. Our services span from initial planning and investment, through start-up and operations. www.bechtel.com

RSS icon Add the Bechtel News Feed to my RSS reader.