PaperExchange Receives More Financing

PaperExchange.com L.L.C., announced that three top investors in Internet start-ups, e-commerce, and the pulp and paper industry have invested in the company. Madison Dearborn Partners, one of the nation's premier investors in the pulp and paper industry, MSD Capital L.P., the private investment firm for Michael S. Dell, and David Wetherell, founder and CEO of Internet holding company CMGI, have agreed to make investments totaling more than $10 million dollars.

Including the current round of funding, the company has now raised over $35 million of capital. Fueled by previous investments, PaperExchange.com has grown its membership from 250 to more than 3,000 members worldwide.

In addition to making a personal investment in PaperExchange.com, David Wetherell will also join the company's board of directors. Other board members include Robert Kraft of the Kraft Group, Roger Stone of Stone Container Corporation, Walter Buckley of Internet Capital Group, Bill Haskell of Internet Capital Group, Jonathan Kraft of the Kraft Group, Nathan Leight of Terrapin Partners L.L.C., and Kent A. Dolby of PaperExchange.com.