Cox, Others Back FirstLook4/23/2000 8:00 PM Eastern
Los Angeles - Cox Communications Inc. was one of four investors to pump $31 million into a privately held Internet start-up that could help to enhance the MSO's future data and interactive-video offerings.
Cox Communications, parent Cox Enterprises Inc., Intel Capital (the venture-capital arm of computer-chip giant Intel Corp.) and New York investment banker Goldman, Sachs & Co. said they bought series-B stock in FirstLook.com.
Cox Communications will also receive a seat on FirstLook.com's board of directors.
Launched in September, FirstLook.com allows consumers to preview new music and video products and offers links to retailers and suppliers where they can purchase them. FirstLook.com charges a fee-which is negotiated with the advertiser-for each time a consumer clicks on a particular video or compact disc to preview it.
Initial investors in FirstLook.com include Internet venture-capital firms idealab! and Kleiner Perkins Caufield & Byers.
"FirstLook.com has developed a unique media content and e-commerce application that will dovetail nicely with our high-speed Internet access and with future interactive-TV services," Cox Communications executive vice president of business development David Woodrow said in a prepared statement.