ALEXANDRIA, VA -- Softbank Finance Group, AOL Time Warner Ventures, Maveron, and Mayfield Fund have invested a total of $30 million in a second round of financing for The Motley Fool, Inc., the Alexandria, VA-based multimedia personal finance company announced today.

"We're fortunate to have such Foolish partners as Maveron, Mayfield, AOL Time Warner, and Softbank," said David Gardner, who co-founded The Motley Fool with his brother, Tom, in 1994. "Like us, they believe in investing for the long term. The Fool is almost seven years old -- an eternity in Internet years -- but in so many ways we're just getting started. With the backing of our esteemed partners, we'll be helping people achieve financial independence for decades to come."

In 1999, Maveron and Mayfield Fund led a round of venture capital financing that totaled $26.5 million for The Motley Fool. The latest round was led by Softbank Finance, which brings to the Fool both global experience and strong financial resources. Softbank is well known as a ground-floor investor in Internet pioneer Yahoo!

"The Motley Fool is proud to welcome Softbank as a financial investor and strategic partner," said Pat Garner, CEO of The Motley Fool. "Our customers tell us that The Motley Fool's service transcends the ordinary and creates a different, better, and special experience in their daily lives. We share a common belief with our investors that there is no value in sameness, and we're committed to leveraging our brand to create value both for the Fool's customers and its business partners."

Begun in 1993 as a newsletter serving just 60 readers, The Motley Fool today reaches an estimated 30 million people monthly in the United States and United Kingdom through its best-selling books, syndicated U.S. radio programs and newspaper column, and online financial education products and services. The Fool's websites, www.fool.com in the U.S. and www.fool.co.uk in the U.K., boast more than 2 million registered users and, according to Media Metrix, were visited by approximately three million individuals in December -- an all-time high for the company.

"Both online and off, The Motley Fool has built one of the world's truly great brands," said Yoshitaka Kitao, CEO of Softbank Finance. "We are excited to be a part of this special company's growth story, and we look forward to a long and prosperous relationship."

AOL Time Warner Ventures also participated in the latest round of financing. For the last six years, the Fool's popular personal finance and investing advice and discussion boards have been available on the America Online service via AOL keyword "Fool."

"The Motley Fool's community of devotees has grown steadily ever since the Gardner brothers first began offering their unorthodox personal finance content, tools, and services to AOL customers," said Len Leader, President of AOL Time Warner Ventures and a member of The Motley Fool's board of directors. "Since their launch in 1994, no one has been able to put together brand integrity and community spirit quite like The Motley Fool. Their continued success is a credit to their unique style."

Mike Levinthal of Mayfield Fund also expressed praise for The Motley Fool brand. "The Motley Fool is more than an Internet play," he said. "With its Simon & Schuster books, nationally syndicated newspaper column, and top-rated talk radio show, this company's reach is truly remarkable. We believe the Fool is steadily building towards brand ubiquity."

"Maveron's mission is to invest in the great, relevant consumer brands of the future," said Dan Levitan, Managing Partner at Maveron, the Seattle-based venture capital firm established by Starbucks Chairman Howard Schultz. "The Motley Fool is clearly one of those brands. The Fool has always had the passion and vision to win globally, and now it has the partners and resources to back it up."

The $30 million investment will help fuel The Motley Fool's ongoing Internet operations in the U.S. and U.K., where its online investing seminars and financial decision centers -- based around subjects such as insurance, home, taxes, and retirement -- have opened up diversified revenue streams for the company. Building on their new partnership, Softbank and the Fool are also in the final stages of negotiation regarding a venture in Japan.

"As a private company, we rely on our investors as advisors," said Tom Gardner, co-founder of The Motley Fool. "The addition of Softbank as a stakeholder and board member is another in a long series of actions we've taken to make The Motley Fool a useful service that is built to last."

About The Motley Fool

The Motley Fool, Inc. is a multimedia personal finance company that educates, amuses, and enriches more than 30 million people each month. Since 1993, The Motley Fool has been on hand to help people achieve financial independence across a wide variety of online and offline media channels including: its award-winning website at www.fool.com, its best-selling Simon & Schuster and self-published books (over 1.8 million sold); a nationally syndicated weekly newspaper column carried by more than 190 publications; daily "Market Minutes" and weekly "The Motley Fool Radio Show," both joint ventures with Cox Radio that can be heard on more than 150 stations nationwide; interactive online seminars; Motley Fool Research; and America Online (keyword: Fool). The Motley Fool's name was chosen from Shakespeare by founders David and Tom Gardner to reflect the spirit of truthful fun that the company brings to world of personal finance. In Elizabethan times, only the Fool could speak the truth -- and debunk conventional wisdom -- without getting his head lopped off. The Motley Fool is a private company based in Alexandria, VA. Investors include AOL Time Warner Ventures, Maveron, Mayfield Fund, and Softbank Finance.

About Softbank Finance

SOFTBANK FINANCE CORPORATION, a wholly owned subsidiary of SOFTBANK CORP. (TSE: 9984), is developing a comprehensive online financial services marketplace in Japan as well as in other Asian financial centers. SOFTBANK FINANCE subsidiaries include companies such as Morningstar Japan (Nasdaq Japan: 4765), SOFTBANK INVESTMENT, E*TRADE Japan, Cognotec Japan, E-Loan Japan, INSWEB Japan, and Morningstar KOREA. SOFTBANK FINANCE also invests in and provides consultancy services to non-Internet businesses that either are converting or have the potential to convert to online business models.

About AOL Time Warner Ventures

AOL Time Warner Ventures is a division of the AOL Time Warner Investment Corp.

About Maveron

Maveron, founded in 1998 by Dan Levitan and Howard Schultz, is a Seattle-based venture capital firm with a fund of over $400 million. Maveron's investment strategy is focused on companies transforming the consumer experience, whether they focus on products, services or supporting technologies. Maveron, whose name was coined from the words "maverick"""vision," provides diverse and strategic resources to its portfolio companies, thanks to its deep team of experts in business strategy, financial analysis, marketing, and investment banking.

About Mayfield Fund

Contact Information

Bill Dixon
The Motley Fool
(703) 254-1770
BDixon@Fool.com