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Bay Area Online Event Site, Zvents Closes First Round of Venture Funding

Menlo Park, California (PRWEB) October 5, 2005 -- Zvents (www.zvents.com), the web's leading local event search site, today announced it has closed its first round of funding. Participants in the round include NetService Ventures Group (NSV), Red Rock Ventures, and a group of private Silicon Valley investors.

NetService Ventures Group is a hybrid consulting and investing firm, leveraging work with incumbent telecom and media firms to fund startups. Founded by Richard Melmon and Hiroshi Menjo, the firm's advisory practice assists large content and communications firms affected by 2nd generation convergence to reposition for success and increased market share. NSV applies the market insights and client needs from its advisory practice to its startup investments, identifying market opportunities for innovative technology plays which will benefit from market exposure via market-leading and channel-dominating partners.

Red Rock Ventures is a Palo Alto, California-based venture capital investment partnership specializing in seed and early- stage information technology investments. The general partners, Robert G. Todd, Curtis (Kip) Myers, Peter Dumanian, Laura Brege and Bob Marsh have extensive backgrounds as operating managers, entrepreneurs, founders and venture capital investors. Their record in successfully founding and/or financing high-technology companies has created substantial market value and investor returns for the past 20 years. Red Rock currently manages $220 million in committed capital.

"The entertainment space is one that has changed very little over the past ten years. Newspapers and word of mouth are the number one way people currently decide what to do for an evening out," stated Laura Brege, partner at Red Rock Ventures. "What attracted us to Zvents was their innovative application of search technologies to this large potential market."

"We're pleased with the positive response from our first funding round," stated Ethan Stock, founder and CEO of Zvents. "With the financial backing we have received, we can now focus on building out the feature set of our site and increasing our user base."

About Zvents
Zvents was founded by Ethan Stock and Tyler Kovacs in March of 2005. The company's mission is to be the best way to find events online. Currently live for the Bay Area, Zvents has the most comprehensive set of events delivered with the latest technology and the best user experience. The company is privately held and has been backed by NetService Ventures Group and Red Rock Ventures. For more information, visit www.zvents.com.