-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Usxs/ACCPTlexlbOldFroP5CjiYnLsvRDt8dkgazTAx4OR37KDmTcQOqFh6UOjMw G7odnT7fCr0KrDqxdrRW2Q== 0000891618-99-005557.txt : 19991209 0000891618-99-005557.hdr.sgml : 19991209 ACCESSION NUMBER: 0000891618-99-005557 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19991208 GROUP MEMBERS: JAY C. HOAG GROUP MEMBERS: RICHARD H. KIMBALL GROUP MEMBERS: TCV II (Q), L.P. GROUP MEMBERS: TCV II STRATEGIC PARTNERS, L.P. GROUP MEMBERS: TCV II, V.O.F. GROUP MEMBERS: TCV III (GP) GROUP MEMBERS: TCV III (Q), L.P. GROUP MEMBERS: TCV III STRATEGIC PARTNERS, L.P. GROUP MEMBERS: TCV III, L.P. GROUP MEMBERS: TECHNOLOGY CROSSOVER MANAGEMENT II LLC GROUP MEMBERS: TECHNOLOGY CROSSOVER MANAGEMENT II, L.L.C. GROUP MEMBERS: TECHNOLOGY CROSSOVER MANAGEMENT III, L.L.C. GROUP MEMBERS: TECHNOLOGY CROSSOVER MANAGEMENT, L.L.C. GROUP MEMBERS: TECHNOLOGY CROSSOVER VENTURES II, C.V. GROUP MEMBERS: TECHNOLOGY CROSSOVER VENTURES II, L.P. GROUP MEMBERS: TECHNOLOGY CROSSOVER VENTURES, C.V. GROUP MEMBERS: TECHNOLOGY CROSSOVER VENTURES, L.P. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MEMBERWORKS INC CENTRAL INDEX KEY: 0001020996 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 061276882 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-47315 FILM NUMBER: 99770413 BUSINESS ADDRESS: STREET 1: 680 WASHINGTON BLVD., SUITE 1100 CITY: STAMFORD STATE: CT ZIP: 06901 BUSINESS PHONE: 2033247635 MAIL ADDRESS: STREET 1: 9 WEST BROAD STREET CITY: STAMFORD STATE: CT ZIP: 06902 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: TECHNOLOGY CROSSOVER MANAGEMENT II LLC CENTRAL INDEX KEY: 0001040275 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 770439710 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 56 MAIN ST STREET 2: STE 210 CITY: MILLBURN STATE: NJ ZIP: 07041 BUSINESS PHONE: 9734675320 MAIL ADDRESS: STREET 1: 56 MAIN ST STREET 2: STE 210 CITY: MILLBURN STATE: NJ ZIP: 07041 SC 13D/A 1 AMENDMENT NO. 1 TO SCHEDULE 13D 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D UNDER THE SECURITIES EXCHANGE ACT OF 1934 (Amendment No. 1)* MEMBERWORKS INCORPORATED - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 586002107 - -------------------------------------------------------------------------------- (CUSIP Number) ROBERT C. BENSKY C/O TECHNOLOGY CROSSOVER VENTURES 56 MAIN STREET, SUITE 200 MILLBURN, NJ 07041 (973) 467-5320 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) November 23, 1999 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), (f) or (g), check the following box. [ ] NOTE: Schedules filed in paper format shall include a signed original and five copies of the Schedule, including all exhibits. See Rule 13d-1(A) for other parties to whom copies are to be sent. *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). 2 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 2 of 32 Pages - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON TECHNOLOGY CROSSOVER VENTURES, L.P. I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) See Item 2 for identification of General Partner - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or (e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION State of Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 626,431(A) BENEFICIALLY OWNED BY ------------------------------------------------------ REPORTING 8 SHARED VOTING POWER PERSON WITH 0(A) ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 626,431(A) ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER 0(A) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 626,431(A) - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.0% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- (A) Excludes an aggregate of 49,609 shares owned beneficially by the other reporting persons indicated in this Schedule 13D, as to which this reporting person disclaims beneficial ownership. 3 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 3 of 32 Pages - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON TECHNOLOGY CROSSOVER VENTURES, C.V. I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) See Item 2 for a list of General Partners - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or (e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Netherlands Antilles - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 49,609(A) BENEFICIALLY OWNED BY ------------------------------------------------------ REPORTING 8 SHARED VOTING POWER PERSON WITH 0(A) ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 49,609(A) ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER 0(A) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 49,609(A) - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.3% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- (A) Excludes an aggregate of 626,431 shares owned beneficially by the other reporting persons indicated in this Schedule 13D, as to which this reporting person disclaims beneficial ownership. 4 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 4 of 32 Pages - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON TECHNOLOGY CROSSOVER MANAGEMENT, L.L.C. I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) See Item 2 for list of Managing Members - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or (e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION State of Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 676,040 BENEFICIALLY OWNED BY ------------------------------------------------------ REPORTING 8 SHARED VOTING POWER PERSON WITH 0 ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 676,040 ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 676,040 - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.4% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON OO - -------------------------------------------------------------------------------- 5 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 5 of 32 Pages - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON TECHNOLOGY CROSSOVER VENTURES II, L.P. I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) See Item 2 for identification of General Partner - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or (e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION State of Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0(A) BENEFICIALLY OWNED BY ------------------------------------------------------ REPORTING 8 SHARED VOTING POWER PERSON WITH 0(A) ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 0(A) ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER 0(A) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0(A) - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.0% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- (A) Excludes an aggregate of 676,040 shares owned beneficially by the other reporting persons indicated in this Schedule 13D, as to which this reporting person disclaims beneficial ownership. 6 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 6 of 32 Pages - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON TCV II(Q), L.P. I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) See Item 2 for identification of General Partner - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or (e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION State of Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0(A) BENEFICIALLY OWNED BY ------------------------------------------------------ REPORTING 8 SHARED VOTING POWER PERSON WITH 0(A) ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 0(A) ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER 0(A) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0(A) - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.0% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- (A) Excludes an aggregate of 676,040 shares owned beneficially by the other reporting persons indicated in this Schedule 13D, as to which this reporting person disclaims beneficial ownership. 7 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 7 of 32 Pages - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON TCV II STRATEGIC PARTNERS, L.P. I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) See Item 2 for identification of General Partner - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or (e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION State of Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0(A) BENEFICIALLY OWNED BY ------------------------------------------------------ REPORTING 8 SHARED VOTING POWER PERSON WITH 0(A) ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 0(A) ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER 0(A) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0(A) - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) LESS THAN 0.0% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- (A) Excludes an aggregate of 676,040 shares owned beneficially by the other reporting persons indicated in this Schedule 13D, as to which this reporting person disclaims beneficial ownership. 8 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 8 of 32 Pages - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON TECHNOLOGY CROSSOVER VENTURES II, C.V. I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) See Item 2 for a list of Managing General Partners - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or (e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION NETHERLANDS ANTILLES - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0(A) BENEFICIALLY OWNED BY ------------------------------------------------------ REPORTING 8 SHARED VOTING POWER PERSON WITH 0(A) ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 0(A) ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER 0(A) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0(A) - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [X] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) LESS THAN 0.0% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- (A) Excludes an aggregate of 676,040 shares owned beneficially by the other reporting persons indicated in this Schedule 13D, as to which this reporting person disclaims beneficial ownership. 9 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 9 of 32 Pages - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON TCV II, V.O.F. I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) See Item 2 for a list of Managing General Partners - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or (e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION NETHERLANDS ANTILLES - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0(A) BENEFICIALLY OWNED BY ------------------------------------------------------ REPORTING 8 SHARED VOTING POWER PERSON WITH 0(A) ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 0(A) ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER 0(A) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0(A) - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.0% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- (A) Excludes an aggregate of 676,040 shares owned beneficially by the other reporting persons indicated in this Schedule 13D, as to which this reporting person disclaims beneficial ownership. 10 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 10 of 32 Pages - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON TECHNOLOGY CROSSOVER MANAGEMENT II, L.L.C. I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) See Item 2 for a list of Managing Members - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or (e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION State of Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0(A) BENEFICIALLY OWNED BY ------------------------------------------------------ REPORTING 8 SHARED VOTING POWER PERSON WITH 0(A) ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 0(A) ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER 0(A) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0(A) - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.0% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON OO - -------------------------------------------------------------------------------- (A) Excludes an aggregate of 676,040 shares owned beneficially by the other reporting persons indicated in this Schedule 13D, as to which this reporting person disclaims beneficial ownership. 11 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 11 of 32 Pages - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON TCV III (GP) I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) See Item 2 for identification of General Partner - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or (e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION State of Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0(A) BENEFICIALLY ------------------------------------------------------ OWNED BY 8 SHARED VOTING POWER REPORTING 0(A) PERSON WITH ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 0(A) ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER 0(A) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0(A) - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.0% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- (A) Excludes an aggregate of 676,040 shares owned beneficially by the other reporting persons indicated in this Schedule 13D, as to which this reporting person disclaims beneficial ownership. 12 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 12 of 32 Pages - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON TCV III, L.P. I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) See Item 2 for identification of General Partner - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or (e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION State of Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0(A) BENEFICIALLY ------------------------------------------------------ OWNED BY 8 SHARED VOTING POWER REPORTING 0(A) PERSON WITH ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 0(A) ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER 0(A) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0(A) - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.0% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- (A) Excludes an aggregate of 676,040 shares owned beneficially by the other reporting persons indicated in this Schedule 13D, as to which this reporting person disclaims beneficial ownership. 13 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 13 of 32 Pages - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON TCV III (Q), L.P. I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) See Item 2 for identification of General Partner - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or (e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION State of Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0(A) BENEFICIALLY ------------------------------------------------------ OWNED BY 8 SHARED VOTING POWER REPORTING 0(A) PERSON WITH ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 0(A) ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER 0(A) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0(A) - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.0% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- (A) Excludes an aggregate of 676,040 shares owned beneficially by the other reporting persons indicated in this Schedule 13D, as to which this reporting person disclaims beneficial ownership. 14 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 14 of 32 Pages - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON TCV III Strategic Partners, L.P. I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) See Item 2 for identification of General Partner - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or (e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION State of Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0(A) BENEFICIALLY ------------------------------------------------------ OWNED BY 8 SHARED VOTING POWER REPORTING 0(A) PERSON WITH ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 0(A) ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER 0(A) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0(A) - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.0% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- (A) Excludes an aggregate of 676,040 shares owned beneficially by the other reporting persons indicated in this Schedule 13D, as to which this reporting person disclaims beneficial ownership. 15 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 15 of 32 Pages - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON TECHNOLOGY CROSSOVER MANAGEMENT III, L.L.C. I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) See Item 2 for a list of Managing Members - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS WC - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or (e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION State of Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0(A) BENEFICIALLY ------------------------------------------------------ OWNED BY 8 SHARED VOTING POWER REPORTING 0(A) PERSON WITH ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 0(A) ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER 0(A) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0(A) - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.0% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON OO - -------------------------------------------------------------------------------- (A) Excludes an aggregate of 676,040 shares owned beneficially by the other reporting persons indicated in this Schedule 13D, as to which this reporting person disclaims beneficial ownership. 16 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 16 of 32 Pages - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON JAY C. HOAG I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or (e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION U.S. Citizen - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0 BENEFICIALLY ------------------------------------------------------ OWNED BY 8 SHARED VOTING POWER REPORTING 676,040 PERSON WITH ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 676,040 ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 676,040 - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.4% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------- 17 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 17 of 32 Pages - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON RICHARD H. KIMBALL I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or (e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION U.S. Citizen - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0 BENEFICIALLY ------------------------------------------------------ OWNED BY 8 SHARED VOTING POWER REPORTING 676,040 PERSON WITH ------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 676,040 ------------------------------------------------------ 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 676,040 - -------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.4% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------- 18 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 18 of 32 Pages - -------------------------------------------------------------------------------- Item 1. Security and Issuer. The title of the class of securities to which this Schedule 13D relates is Common Stock ("Common Stock") of MemberWorks Incorporated, a Delaware corporation (the "Issuer"). The principal executive offices of the Issuer are located at 680 Washington Boulevard, Suite 1100, Stamford, CT, 06901. Item 2. Identity and Background. Set forth below is the following information with respect to each of the persons filing this Schedule 13D (together, the "Filing Persons") and, in addition, each of such person's managing partners or managing members, as the case may be, and, if applicable, the persons controlling such managing partners or managing members (such additional persons, together with the Filing Persons, the "Item 2 Persons"): (a) name; (b) address of principal offices (if entity) or residence or business address (if individual); (c) principal business (if entity) or principal occupation and name, business and address of employer (if individual); (d) information concerning criminal convictions during the last five years; (e) information concerning civil or administrative proceedings under state or federal securities laws during the past five years with respect to any state or federal securities laws and (f) citizenship (if individual) or jurisdiction of organization (if entity). I. (a) Technology Crossover Ventures, L.P., a Delaware limited partnership ("TCV I, L.P."). The General Partner of TCV I, L.P. is Technology Crossover Management, L.L.C., a Delaware limited liability company ("TCM I"). The sole Managing Members of TCM I are Jay C. Hoag ("Hoag") and Richard H. Kimball ("Kimball"). (b) 575 High Street, Suite 400, Palo Alto, CA 94301 (c) TCV I, L.P. is an investment fund. (d) No criminal convictions (1). (e) No adverse civil judgments for violations of securities laws (1). (f) Delaware. II. (a) Technology Crossover Ventures, C.V., a Netherlands Antilles limited partnership ("TCV I, C.V."). The General Partners of TCV I, C.V. are TCM I and Technology Crossover Administrator, N.V., a Netherlands Antilles corporation ("TCA I"). TCA I is ultimately controlled by Hoag and Kimball. 19 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 19 of 32 Pages - -------------------------------------------------------------------------------- (b) Pietermaai 15, Willemstad, Curacao, Netherlands Antilles (c) TCV I, C.V. is an investment fund. (d) No criminal convictions (1). (e) No adverse civil judgments for violations of securities laws (1). (f) Netherlands Antilles. III. (a) Technology Crossover Management, L.L.C., a Delaware limited liability company. The sole Managing Members of TCM I are Hoag and Kimball. (b) 575 High Street, Suite 400, Palo Alto, CA 94301. (c) TCM I is an investment fund manager. (d) No criminal convictions (1). (e) No adverse civil judgments for violations of securities laws (1). (f) Delaware. IV. (a) Technology Crossover Administrator, N.V., a Netherlands Antilles corporation. TCA I is ultimately controlled by Hoag and Kimball. (b) Pietermaai 15, Willemstad, Curacao, Netherlands Antilles. (c) TCA I is the Administrative General Partner of TCV I, C.V. (d) No criminal convictions (1). (e) No adverse civil judgments for violations of securities laws (1). (f) Netherlands Antilles. V. (a) Technology Crossover Ventures II, L.P., a Delaware limited partnership ("TCV II, L.P."). The General Partner of TCV II, L.P. is Technology Crossover Management II, L.L.C., a Delaware limited liability company ("TCM II"). The sole Managing Members of TCM II are Hoag and Kimball. (b) 575 High Street, Suite 400, Palo Alto, CA 94301. 20 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 20 of 32 Pages - -------------------------------------------------------------------------------- (c) TCV II, L.P. is an investment fund. (d) No criminal convictions (1). (e) No adverse civil judgments for violations of securities laws (1). (f) Delaware. VI. (a) TCV II (Q), L.P., a Delaware limited partnership ("TCV II (Q)"). The General Partner of TCV II (Q) is TCM II. (b) 575 High Street, Suite 400, Palo Alto, CA 94301. (c) TCV II (Q) is an investment fund. (d) No criminal convictions (1). (e) No adverse civil judgments for violations of securities laws (1). (f) Delaware. VII. (a) TCV II Strategic Partners, L.P., a Delaware limited partnership ("TCV II SP"). The General Partner of TCV II Strategic Partners is TCM II. (b) 575 High Street, Suite 400, Palo Alto, CA 94301. (c) TCV II SP is an investment fund. (d) No criminal convictions (1). (e) No adverse civil judgments for violations of securities laws (1). (f) Delaware. VIII. (a) Technology Crossover Ventures II, C.V., a Netherlands Antilles limited partnership ("TCV II, C.V."). The Managing General Partners of TCV II, C.V. are TCM II and Technology Crossover Administrator II, N.V., a Netherlands Antilles corporation ("TCA II"). TCA II is ultimately controlled by Hoag and Kimball. (b) Pietermaai 15, Willemstad, Curacao, Netherlands Antilles. (c) TCV II, C.V. is an investment fund. 21 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 21 of 32 Pages - -------------------------------------------------------------------------------- (d) No criminal convictions (1). (e) No adverse civil judgments for violations of securities laws (1). (f) Netherlands Antilles. IX. (a) TCV II, V.O.F., a Netherlands Antilles general partnership ("TCV II, V.O.F."). The Managing General Partners of TCV II, V.O.F. are TCM II and TCA II. (b) Pietermaai 15, Willemstad, Curacao, Netherlands Antilles. (c) TCV II, V.O.F. is an investment fund. (d) No criminal convictions (1). (e) No adverse civil judgments for violations of securities laws (1). (f) Netherlands Antilles. X. (a) Technology Crossover Management II, L.L.C., a Delaware limited liability company. The sole Managing Members of TCM II are Hoag and Kimball. (b) 575 High Street, Suite 400, Palo Alto, CA 94301. (c) TCM II is an investment fund manager. (d) No criminal convictions (1). (e) No adverse civil judgments for violations of securities laws (1). (f) Delaware. XI. (a) Technology Crossover Administrator II, N.V., a Netherlands Antilles corporation. TCA II is ultimately controlled by Hoag and Kimball. (b) Pietermaai 15, Willemstad, Curacao, Netherlands Antilles. (c) TCA II is the Administrative General Partner of TCV II, C.V. and TCV II, V.O.F. (d) No criminal convictions (1). 22 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 22 of 32 Pages - -------------------------------------------------------------------------------- (e) No adverse civil judgments for violations of securities laws (1). (f) Netherlands Antilles. XII. (a) TCV III (GP), a Delaware general partnership. The General Partner of TCV III (GP) is Technology Crossover Management III, L.L.C., a Delaware limited liability company ("TCM III"). The sole Managing Members of TCM III are Hoag and Kimball. (b) 575 High Street, Suite 400, Palo Alto, CA 94301. (c) TCV III (GP) is an investment fund. (d) No criminal convictions (1). (e) No adverse civil judgments for violations of securities laws (1). (f) Delaware. XIII. (a) TCV III, L.P., a Delaware limited partnership. The General Partner of TCV III, L.P. is TCM III. The sole Managing Members of TCM III are Hoag and Kimball. (b) 575 High Street, Suite 400, Palo Alto, CA 94301. (c) TCV III, L.P. is an investment fund. (d) No criminal convictions (1). (e) No adverse civil judgments for violations of securities laws (1). (f) Delaware. XIV. (a) TCV III (Q), L.P., a Delaware limited partnership ("TCV III (Q)"). The General Partner of TCV III (Q) is TCM III. The sole Managing Members of TCM III are Hoag and Kimball. (b) 575 High Street, Suite 400, Palo Alto, CA 94301. (c) TCV III (Q) is an investment fund. (d) No criminal convictions (1). 23 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 23 of 32 Pages - -------------------------------------------------------------------------------- (e) No adverse civil judgments for violations of securities laws (1). (f) Delaware. XV. (a) TCV III Strategic Partners, L.P., a Delaware limited partnership ("TCV III SP"). The General Partner of TCV III SP is TCM III. The sole Managing Members of TCM III are Hoag and Kimball. (b) 575 High Street, Suite 400, Palo Alto, CA 94301. (c) TCV III SP is an investment fund. (d) No criminal convictions (1). (e) No adverse civil judgments for violations of securities laws (1). (f) Delaware. XVI. (a) Technology Crossover Management III, L.L.C., a Delaware limited liability company. The sole Managing Members of TCM III are Hoag and Kimball. (b) 575 High Street, Suite 400, Palo Alto, CA 94301. (c) TCM III is an investment fund manager. (d) No criminal convictions (1). (e) No adverse civil judgments for violations of securities laws (1). (f) Delaware. XVII. (a) Jay C. Hoag (b) 575 High Street, Suite 400, Palo Alto, CA 94301. (c) Hoag is a Managing Member of TCM I, TCM II and TCM III. (d) No criminal convictions (1). (e) No adverse civil judgments for violations of securities laws (1). (f) Citizen of the United States of America. 24 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 24 of 32 Pages - -------------------------------------------------------------------------------- XVIII. (a) Richard H. Kimball (b) 575 High Street, Suite 400, Palo Alto, CA 94301. (c) Kimball is a Managing Member of TCM I, TCM II and TCM III. (d) No criminal convictions (1). (e) No adverse civil judgments for violations of securities laws (1). (f) Citizen of the United States of America. - ----------- (1) During the last five years, no person listed above has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), nor has any such person been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction that resulted in such person becoming subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. Item 3. Source and Amount of Funds or Other Consideration. All of the securities of the Issuer disclosed on the cover pages to this Schedule 13D are held of record by the entities listed below. The source of funds used in the acquisition of such securities, in each case, was the general working capital of such entities. Such working capital was contributed by such entities' respective partners.
Aggregate Weighted Number of Aggregate Average Price Holder Shares (1) Amount Paid (2) Per Share - --------------------------------------------------------------------------------------------- TCV I, L.P. 626,431 $4,632,309 $7.39 TCV I, C.V. 49,609 366,843 7.39 TCV II, L.P. 0 0 0 TCV II (Q) 0 0 0 TCV II SP 0 0 0 TCV II, C.V. 0 0 0 TCV II, V.O.F. 0 0 0 TCV III (GP) 0 0 0 TCV III, L.P. 0 0 0 TCV III (Q) 0 0 0 TCV III SP 0 0 0 - --------------------------------------------------------------------------------------------- TOTALS 676,040 $4,999,152 $7.39 ======= ========== =====
- ----------- (1) Includes shares issuable upon the exercise of warrants. Includes both open market purchases of Common Stock and Common Stock issued upon conversion of Preferred Stock of the Issuer. (2) Includes exercise price of warrants exercisable within 60 days of the date hereof. 25 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 25 of 32 Pages - -------------------------------------------------------------------------------- Item 4. Purpose of Transaction. The acquisitions of the shares of the Issuer's Common Stock that are the subject of this filing were made for the purpose of investment and not with a view to distribution of the shares or with a view toward acquiring control of the Issuer. The Item 2 Persons with the power to do so may sell, or cause to be sold, all or part of such shares or acquire, or cause to be acquired, additional securities of the Issuer depending on market conditions and other economic factors. Except as described above, no reporting person has any current plans or proposals that relate to or would result in: (a) The acquisition by any person of additional securities of the Issuer, or the disposition of securities of the Issuer; (b) An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries; (c) A sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; (d) Any change in the present board of directors or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; (e) Any material change in the present capitalization or dividend policy of the Issuer; (f) Any other material change in the Issuer's business or corporate structure; (g) Change in the Issuer's character, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the Issuer by any person; (h) Causing a class of securities of the Issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) A class of equity securities of the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Exchange Act; or (j) Any action similar to any of those enumerated above. Item 5. Interest in Securities of the Issuer. (a) AND (b) Except to the extent otherwise expressly stated herein, this Schedule 13D shall not be construed as an admission that any Item 2 Person is, for purposes of 26 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 26 of 32 Pages - -------------------------------------------------------------------------------- Section 13(d) or 13(g) of the Act, the beneficial owner or any Common Stock disclosed in this Schedule 13D. The aggregate number and percentage of the class of securities identified pursuant to Item 1 of this Schedule 13D that are beneficially owned by each Item 2 Person are as follows:
Common Stock Beneficially Owned ---------------------------------- Shares Subject % to Option or of Class Voting Dispositive Item 2 Person Shares Outstanding Warrant (1) Power Power - ------------------------------------------------------------------------------------------------ TCV I, L.P.(2) 601,152 25,279 4.0% sole sole TCV I, C.V.(2) 47,608 2,001 0.3% sole sole TCM I 648,760 27,280 4.4% sole sole TCA I 0 0 0.0% N/A N/A TCV II, L.P.(3) 0 0 0.0% sole sole TCV II (Q)(3) 0 0 0.0% sole sole TCV II SP(3) 0 0 0.0% sole sole TCV II, C.V.(3) 0 0 0.0% sole sole TCV II, V.O.F.(3) 0 0 0.0% sole sole TCM II 0 0 0.0% sole sole TCA II 0 0 0.0% N/A N/A TCV III (GP)(4) 0 0 0.0% sole sole TCV III, L.P.(4) 0 0 0.0% sole sole TCV III (Q)(4) 0 0 0.0% sole sole TCV III SP(4) 0 0 0.0% sole sole TCM III 0 0 0.0% sole sole Hoag (5) 648,760 27,280 4.4% shared sole Kimball (5) 648,760 27,280 4.4% shared sole
- ------------- (1) All percentages in this table are based, pursuant to Rule 13d-1(j) of the Securities Exchange Act of 1934, on the 15,471,402 shares of Common Stock of the Company outstanding as of October 29, 1999, as reported in the Company's Quarterly Report on Form 10-Q for the period ended September 30, 1999. (2) Each noted entity (together, the "TCV I Funds") is the holder of record of the securities set forth opposite the name of such entity and has sole voting and investment power with respect to such securities. TCM I, as sole General Partner of TCV I, L.P. and as Investment General Partner of TCV I, C.V., may also be deemed to have sole voting and investment power with respect to such securities. (3) Each noted entity (together, the "TCV II Funds") is the holder of record of the securities set forth opposite the name of such entity and has sole voting and investment power with respect to such securities. TCM II, as sole General Partner of TCV II, L.P., TCV II (Q) and TCV II SP, and as Investment General Partner of TCV II, V.O.F. and TCV II, C.V., may also be deemed to have sole voting and investment power with respect to such securities. (4) Each noted entity (together, the "TCV III Funds") is the holder of record of the securities set forth opposite the name of such entity and has sole voting and investment power with respect to such securities. TCM III, as sole General Partner of the TCV III Funds, may also be deemed to have sole voting and investment power with respect to such securities. (5) Under the operating agreements of TCM I, TCM II, and TCM III, Hoag and Kimball have the independent power to cause the funds managed by such entities to buy and sell securities of publicly traded portfolio 27 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 27 of 32 Pages - -------------------------------------------------------------------------------- companies, however, in general, they must act by unanimous consent with respect to all other matters, including directing the voting of such securities. As a result, Hoag and Kimball may also be deemed to have sole dispositive power and shared voting power with respect to the securities held by the TCV I Funds, TCV II Funds and TCV III Funds. Shares Held by Marc S. Tesler Marc S. Tesler ("Tesler") is a non-managing member of TCM I, TCM II and TCM III. Tesler is also a member of the Board of Directors of the Issuer. Mr. Tesler's beneficial ownership of Common Stock of the Issuer consists exclusively of 27,000 shares of Common Stock of the Issuer subject to options which may become exercisable within 60 days of the date hereof (the "Tesler Shares"). Tesler also holds options covering an additional 9,000 shares of Common Stock of the Issuer that will not become exercisable within 60 days of the date hereof. Under the operating agreements of TCM I, TCM II and TCM III, non-managing members have no voting or dispositive power with respect to securities held by the TCV I Funds, TCV II Funds, or TCV III Funds. No Item 2 Person has the sole or shared power to vote or dispose of any of the Tesler Shares. (c) The following is a list of transactions in the Issuer's securities by the Item 2 Persons within the last 60 days, all of which were open market purchases effected on the dates set forth below:
November 1, 1999 November 2, 1999 November 5, 1999 November 23, 1999 - ------------------------------------------------------------------------------------------------ Price Price Price Price Shares Per Shares Per Shares Per Shares Per Item 2 Person Sold Share Sold Share Sold Share Sold Share - ------------------------------------------------------------------------------------------------ TCV II, L.P. 1,530 $27.06 3,062 $27.00 10,046 $26.51 23,490 $27.54 TCV II (Q) 1,177 27.06 2,353 27.00 7,723 26.51 18,058 27.54 TCV II SP 209 27.06 417 27.00 1,370 26.51 3,205 27.54 TCV II, C.V. 234 27.06 468 27.00 1,535 26.51 3,584 27.54 TCV II, V.O.F. 50 27.06 100 27.00 326 26.51 763 27.54 TCV III (GP) 13 27.06 26 27.00 84 26.51 197 27.54 TCV III, L.P. 62 27.06 124 27.00 397 26.51 935 27.54 TCV III (Q), L.P. 1,651 27.06 3,301 27.00 10,544 26.51 24,850 27.54 TCV III SP 74 27.06 149 27.00 475 26.51 1,118 27.54 - ------------------------------------------------------------------------------------------------ Total 5,000 $27.06 10,000 $27.00 32,500 $26.51 76,200 $27.54
- -------------- (d) Inapplicable. (e) Except to the extent otherwise expressly stated herein, this Schedule 13D shall not be construed as an admission that any Item 2 Person is, or was, for purposes of Section 13(d) or 13(g) of the Act, the beneficial owner of any Common Stock disclosed in this Schedule 13D. Each Item 2 Person ceased to be the beneficial owner of more than five percent of the class of securities on November 23, 1999. 28 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 28 of 32 Pages - -------------------------------------------------------------------------------- Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. There are no contracts, arrangements or understandings among any of the Item 2 Persons made or entered into specifically with respect to holding, voting or disposing of the Common Stock of the Issuer. Under the terms of the respective Partnership Agreements of the TCV I Funds, TCM I possesses the power to manage the investment activities of the TCV I Funds, including the power to direct the voting and direct the disposition of the Common Stock of the Issuer. Under the terms of the respective Partnership Agreements of the TCV II Funds, TCM II possesses the power to manage the investment activities of the TCV II Funds, including the power to direct the voting and disposition of the Common Stock of the Issuer. Under the terms of the respective Partnership Agreements of the TCV III Funds, TCM III possesses the power to manage the investment activities of the TCV III Funds, including the power to direct the voting and disposition of the Common Stock of the Issuer. Under the Operating Agreements of TCM I TCM II, and TCM III, Hoag and Kimball (the sole Managing Members of each of such entities) possess the power to cause TCM I, TCM II and TCM III to exercise such voting and dispositive power with respect to the securities of the Issuer held by the TCV I Funds, TCV II Funds and the TCV III Funds. Item 7. Material to be Filed as Exhibits. The following exhibit was filed as Exhibit A to the original Schedule 13D relating to the Common Stock of MemberWorks Incorporated, filed by the undersigned with the Securities and Exchange Commission on June 6, 1997, and is hereby incorporated herein by reference: Exhibit A - Statement Appointing Designated Filer and Authorized Signer The following exhibit was filed as Exhibit C to the Schedule 13G relating to the Common Stock of CacheFlow, Inc., filed by the undersigned with the Securities and Exchange Commission on November 29, 1999, and is hereby incorporated herein by reference: Exhibit B - Agreement to File Jointly and Statement Appointing Designated Filer and Authorized Signatory 29 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 29 of 32 Pages - -------------------------------------------------------------------------------- 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: December 6, 1999 TECHNOLOGY CROSSOVER VENTURES, L.P., a Delaware Limited Partnership By: /s/ Robert C. Bensky ------------------------------------- Robert c. Bensky Authorized Signatory TECHNOLOGY CROSSOVER VENTURES, C.V., a Netherlands Antilles Limited Partnership By: /s/ Robert C. Bensky ------------------------------------- Robert C. Bensky Authorized Signatory TECHNOLOGY CROSSOVER MANAGEMENT, L.L.C., a Delaware Limited Liability Company By: /s/ Robert C. Bensky ------------------------------------- Robert C. Bensky Authorized Signatory TECHNOLOGY CROSSOVER VENTURES II, L.P., a Delaware Limited Partnership By: /s/ Robert C. Bensky ------------------------------------- Robert C. Bensky Authorized Signatory 30 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 30 of 32 Pages - -------------------------------------------------------------------------------- TCV II (Q), L.P., a Delaware Limited Partnership By: /s/ Robert C. Bensky --------------------------------------- Robert C. Bensky Authorized Signatory TCV II STRATEGIC PARTNERS, L.P., a Delaware Limited Partnership By: /s/ Robert C. Bensky --------------------------------------- Robert C. Bensky Authorized Signatory TECHNOLOGY CROSSOVER VENTURES II, C.V., a Netherlands Antilles Limited Partnership By: /s/ Robert C. Bensky --------------------------------------- Robert C. Bensky Authorized Signatory TCV II, V.O.F., a Netherlands Antilles General Partnership By: /s/ Robert C. Bensky --------------------------------------- Robert C. Bensky Authorized Signatory 31 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 31 of 32 Pages - -------------------------------------------------------------------------------- TECHNOLOGY CROSSOVER MANAGEMENT II, L.L.C., a Delaware Limited Liability Company By: /s/ Robert C. Bensky ----------------------------------------- Robert C. Bensky Authorized Signatory TCV III (GP), a Delaware General Partnership By: /s/ Robert C. Bensky ----------------------------------------- Robert C. Bensky Authorized Signatory TCV III, L.P., a Delaware Limited Partnership By: /s/ Robert C. Bensky ----------------------------------------- Robert C. Bensky Authorized Signatory TCV III (Q), L.P., a Delaware Limited Partnership By: /s/ Robert C. Bensky ----------------------------------------- Robert C. Bensky Authorized Signatory TCV III STRATEGIC PARTNERS, L.P., a Delaware Limited Partnership By: /s/ Robert C. Bensky ----------------------------------------- Robert C. Bensky Authorized Signatory 32 SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP NO. 586002107 Page 32 of 32 Pages - -------------------------------------------------------------------------------- TECHNOLOGY CROSSOVER MANAGEMENT III, L.L.C. a Delaware Limited Liability Company By: /s/ Robert C. Bensky ---------------------------------------- Robert C. Bensky Authorized Signatory JAY C. HOAG By: /s/ Robert C. Bensky ---------------------------------------- Robert C. Bensky Authorized Signatory RICHARD H. KIMBALL By: /s/ Robert C. Bensky ---------------------------------------- Robert C. Bensky Authorized Signatory -----END PRIVACY-ENHANCED MESSAGE-----