Washington Post Co. Sponsors LaunchBox08 Startup Competition

WASHINGTON--(BUSINESS WIRE)--The Washington Post Company (NYSE:WPO) announced today that it will sponsor a global competition for digital startups from LaunchBox Digital, a Washington, DC-based investment firm focused on cutting edge mobile and Web technologies. Called “LaunchBox08,” the competition encourages applicants to submit innovative ideas in order to receive seed funding and participate in a 12-week business building program with access to first-rate mentors and advisors.

LaunchBox Digital offers funding to entrepreneurs at an early stage, providing advice and technical support along the way. The LaunchBox08 competition will select six to 10 entrepreneurs from a pool of applicants to receive funding of $15,000 to $30,000.

Caroline H. Little, CEO and Publisher of Washingtonpost.Newsweek Interactive (WPNI), The Washington Post Company’s online publishing division, will become a member of LaunchBox Digital’s advisory board.

“The Washington Post Company believes in fostering innovation throughout the Web and beyond—not only for our brands but for the industry in general,” said Little. “We’re thrilled to work with LaunchBox Digital to make connections with young startups, to share our experiences and help them grow.”

As member of the advisory board, Little will counsel emerging technology leaders, offering guidance to help shape ideas into an operating business. From product development to marketing to business models, advisors like Little will be the hands-on experts mentoring entrepreneurs in building a company.

“We look forward to working with The Washington Post Company to build the most innovative business creation platform in the mid-Atlantic region,” said Sean Greene, co-founder of LaunchBox Digital. “The Washington Post Company’s commitment to innovation in digital media and technology distribution platforms is a strong sign of support for local entrepreneurs.”

As part of the partnership with LaunchBox Digital, The Washington Post Company will host events for LaunchBox08 entrepreneurs at their downtown Washington, DC offices on a variety of topics and WPNI executives will attend networking activities with and participate in Pitch Days, where LaunchBox08 participants will be presenting their businesses to angel investors, venture capitalists, potential strategic partners and press.

Applications for LaunchBox08 may be submitted online through March 14, 2008. The program begins in May 2008.

For more information, visit www.launchboxdigital.com.

About Washingtonpost.Newsweek Interactive (WPNI)

The online publishing subsidiary of The Washington Post Company (NYSE:WPO), Washingtonpost.Newsweek Interactive strives to produce thought-provoking and engaging content on its suite of Web sites, which include washingtonpost.com, Newsweek.com, Slate.com, TheRoot.com, Budget Travel Online and Sprig.com. Reaching a combined 16 million unique users each month, WPNI aims to inform and to stimulate debate while encouraging audience participation.

The company is headquartered in Arlington, VA.

About LaunchBox Digital

LaunchBox Digital, an early stage investment firm located in Washington, DC, is focused on helping entrepreneurs overcome the early challenges of starting a new business and making their vision a reality. LaunchBox08, LaunchBox Digital’s business accelerator program offers funding and administrative support to enable founders to focus all their energy on developing a great product, mentoring and advice from seasoned technology veterans who have created significant stakeholder value, and access to strategic partners, angels, VCs and the press to take start-up businesses to the next level.