Weekends.com a leading Internet travel company specializing in discount flights, last minute cruises, weekend hotel deals and one-of-a-kind weekend getaways, announced today that it has secured in excess of $1.5 million in the first round of financing.
Funds were secured from the parent company BeastoftheEast.net, Inc. and a number of Chicago and Pennsylvania angels. Weekends.com, which only employs 5 people, will use the financing for website development and marketing. The first round offering closes December 31st, 2000. “Given the extremely tough climate for Internet companies, it is testament to our low burn, sound model and well defined niche that we have been able to secure funding,” said Chris Loughlin, Chief Operating Officer of Weekends.com. Originally a weekend getaway site for “time poor, cash rich” New Yorkers, weekends.com re-launched its website in September 2000 and now caters to a national audience. The company is currently experiencing month on month traffic and revenue growth of over 200%.