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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
U.S. Interactive, Inc.
- - --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $0.001 par value per share
- - --------------------------------------------------------------------------------
(Title of Class of Securities)
90334M 10 9
------------------------------
(CUSIP Number)
August 10, 1999
- - --------------------------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which
this Schedule is filed:
[_] Rule 13d-1(b)
[_] Rule 13d-1(c)
[X] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to
the subject class of securities, and for any subsequent amendment
containing information which would alter disclosures provided
in a prior cover page.
The information required on the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section 18
of the Securities Exchange Act of 1934 ("Act") or otherwise
subject to the liabilities of that section of the Act but shall
be subject to all other provisions of the Act (however, see the
Notes).
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CUSIP NO. 90334M 10 9
- - ------------------------------------------------------------------------------
NAME OF REPORTING PERSONS.
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
Technology Leaders II L.P. 23-2787137
- - ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
2 (a) [X]
(b) [_]
- - ------------------------------------------------------------------------------
SEC USE ONLY
3
- - ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
- - ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
1,184,175
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
1,184,175
- - ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,184,175
- - ------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10 (SEE INSTRUCTIONS)
[_]
- - ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.76%
- - ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
12
PN
- - ------------------------------------------------------------------------------
2
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CUSIP NO. 90334M 10 9
- - ------------------------------------------------------------------------------
NAME OF REPORTING PERSONS.
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
Technology Leaders II Offshore C.V.
- - ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
2 (a) [X]
(b) [_]
- - ------------------------------------------------------------------------------
SEC USE ONLY
3
- - ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Netherlands Antilles limited partnership
- - ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
1,184,175
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
1,184,175
- - ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,184,175
- - ------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10 (SEE INSTRUCTIONS)
[_]
- - ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.76%
- - ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
12
PN
- - ------------------------------------------------------------------------------
3
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CUSIP NO. 90334M 10 9
- - ------------------------------------------------------------------------------
NAME OF REPORTING PERSONS.
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
TL Ventures Third Corp. (Offshore)
- - ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
2 (a) [X]
(b) [_]
- - ------------------------------------------------------------------------------
SEC USE ONLY
3
- - ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
British Virgin Islands corporation
- - ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
1,184,175
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
1,184,175
- - ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,184,175
- - ------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10 (SEE INSTRUCTIONS)
[_]
- - ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.76%
- - ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
12
CO
- - ------------------------------------------------------------------------------
4
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CUSIP NO. 90334M 10 9
- - ------------------------------------------------------------------------------
NAME OF REPORTING PERSONS.
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
Technology Leaders II Management L.P. 23-2787138
- - ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
2 (a) [X]
(b) [_]
- - ------------------------------------------------------------------------------
SEC USE ONLY
3
- - ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
- - ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
1,184,175
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
1,184,175
- - ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,184,175
- - ------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
10 (SEE INSTRUCTIONS)
[_]
- - ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
5.76%
- - ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
12
PN
- - ------------------------------------------------------------------------------
5
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Item 1.
(a) Name of Issuer:
U.S. Interactive, Inc.
(b) Address of Issuer's Principal Executive Offices:
2012 Renaissance Boulevard
King of Prussia, Pennsylvania 19406
Item 2.
(a) Name of Person Filing:
(1) Technology Leaders II L.P.
(2) Technology Leaders II OffShore C. V.
(3) TL Ventures Third Corp.
(4) Technology Leaders II Management L.P.
(b) Address of Principal Business Offices:
(1)(4) 700 The Safeguard Building
435 Devon Park Drive
Wayne, PA 19087-1990
(2) c/o ABN Trustcompany (Curacao) N.V.
P.O. Box 224
15 Pietermaai
Curacao, Netherland Antilles
(3) P.O. Box 3151
Road Town
Tortola, British Virgin Islands
(c) Citizenship:
(1) Delaware limited partnership
(2) Netherland Antilles limited partnership
(3) British Virgin Islands corporation
(4) Delaware limited partnership
(d) Title of Class of Securities
Common Stock, $0.001 par value per share
(e) CUSIP Number
90334M 10 9
Item 3. If this statement is filed pursuant to (S)(S)240.13d-1(b) or 240.13d-
2(b) or (c), check whether the person filing is a:
(a) [_] Broker or dealer registered under section 15 of the Act (15 U.S.C.
70o)
(b) [_] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c)
(c) [_] Insurance company as defined in section 3(a)(19) of the Act (15
U.S.C. 78c)
(d) [_] Investment company registered under section 8 of the Investment
Company Act of 1940 (15 U.S.C. 80a-8)
6
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(e) [_] An investment adviser in accordance with (S)240.13d-1(b)(1)(ii)(E)
(f) [_] An employee benefit plan or endowment fund in accordance with
(S)240.13d-1(b)(1)(ii)(F)
(g) [_] A parent holding company or control person in accordance with
(S)240.13d-1(b)(1)(ii)(G)
(h) [_] A savings associations as defined in Section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813)
(i) [_] A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3)
(j) [_] Group, in accordance with (S)240.13d-1(b)(1)(ii)(J)
Item 4. Ownership.
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned: 1,184,175
(b) Percent of class: 5.76%
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote: -0-
(ii) Shared power to vote or to direct the vote: 1,184,175
(iii) Sole power to dispose or to direct the disposition of: -0-
(iv) Shared power to dispose or to direct the disposition of: 1,184,175
Technology Leaders II Management L.P. is the sole general partner of
Technology Leaders II L.P. ("TL II") and a co-general partner of Technology
Leaders II Offshore C.V. ("TLO II"). TL II and TLO II are venture capital funds
which are required by their governing documents to make all investment, voting
and disposition actions in tandem. Technology Leaders Management II L.P. has
sole authority and responsibility for all investment, voting and disposition
decisions for TL II and TLO II, which powers are exercised through its seven
person executive committee, by whose decisions the general partners have agreed
to be bound. TL Ventures Third Corp, which is wholly owned by TLO II, owns
430,789 shares, TL II owns 659,941 shares and TLO II owns 93,445 shares.
Item 5. Ownership of Five Percent or Less of a Class
not applicable
Item 6. Ownership of More than Five Percent on Behalf of Another Person
not applicable
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company
not applicable
Item 8. Identification and Classification of Members of the Group
7
<PAGE>
Technology Leaders II L.P., Technology Leaders II Offshore C.V., TL
Ventures Third Corp. and Technology Leaders II Management L.P. are members of a
group for purposes of Sections 13 (d) and 13 (g) of the Securities Exchange Act
of 1934.
Item 9. Notice of Dissolution of Group
not applicable
Item 10. Certification
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of, and do not have the effect
of, changing or influencing the control of the issuer of such securities and
were not acquired in connection with or as a participant in any transaction
having such purpose or effect.
8
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: February 10, 2000 TECHNOLOGY LEADERS II L.P.
By: Technology Leaders II Management, L.P,
general partner
By: Technology Leaders Management, Inc.,
general partner
By: /s/ Pamela A. Strisofsky
-----------------------------------
Name: Pamela A. Strisofsky
Title: Controller
TECHNOLOGY LEADERS II OFFSHORE C.V.
By: Technology Leaders II Management, L.P.,
general partner
By: Technology Leaders Management, Inc.,
general partner
By: /s/ Pamela A. Strisofsky
-----------------------------------
Name: Pamela A. Strisofsky
Title: Controller
TL VENTURES THIRD CORP.
By: /s/ Pamela A. Strisofsky
-----------------------------------
Name: Pamela A. Strisofsky
Title: Controller
TECHNOLOGY LEADERS II MANAGEMENT, L.P.
By: Technology Leaders Management, Inc.,
general partner
By: /s/ Pamela A. Strisofsky
-----------------------------------
Name: Pamela A. Strisofsky
Title: Controller
9
