911 Entertainment secures major funding.SILICON VALLEY, Calif.--(BUSINESS WIRE)--Feb. 27, 1997--911 Entertainment, which recently announced the signing of seven acts to its two new record labels, 911 Records and Long Arm Records, has received an investment of approximately $10 million from a multinational group of corporate investors, it was announced by Steve Salyer, 911's president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . The group is composed of companies that have been leading the way in providing financial support for the emerging pioneers in on-line entertainment. Investors include SOFTBANK Holdings Inc., the holding company for the U.S. activities and interests of SOFTBANK, which is the leading infrastructure provider to the global digital information industry. They also include The Phoenix Partners, a Seattle-based venture capital group which has participated in the development of Launch magazine covering CD-ROM CD-ROM: see compact disc. CD-ROM in full compact disc read-only memory Type of computer storage medium that is read optically (e.g., by a laser). music/lifestyles, as well as Asia Pacific Ventures, a consulting and advisory firm which specializes in helping U.S. technology companies enter Japan and other Asian markets. An additional member of the investment team is a leading microprocessor manufacturer. "We are pleased that this group of investors is confident in our vision for 911 Entertainment," said Salyer. "They have an enviable track record of supporting successful ventures, including affiliated companies Affiliated Companies A situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. Notes: An affiliated company is sometimes referred to as a subsidiary. that create unique partnering opportunities for 911. Because of that, we expect to contribute to the record of success." As the world's leading publisher of computer-related magazines and books, and the largest producer of technology-related trade shows and expositions, SOFTBANK is making a series of strategic infrastructure investments in a variety of high-technology and media industries. The company, whose stock is traded over-the-counter in Tokyo and that had revenues of $1.6 billion in the fiscal year ended March 31, 1996, has also made a variety of strategic investments, either directly or through its venture capital affiliates, in a select group of Internet infrastructure companies, including: CyberCash Inc.; Firefly firefly or lightning bug, small, luminescent, carnivorous beetle of the family Lampyridae. Fireflies are well represented in temperate regions, although the majority of species are tropical and subtropical. Network Inc.; USWeb; and Yahoo!. "The investment in 911 Entertainment fits well within our overall strategy for corporate investments," said Gary Rieschel, senior vice president of SOFTBANK Holdings. "Steve Salyer and the rest of his team fully understand both the potential and the limitations of the Internet. As a record label, 911 Entertainment is in a position to bring a whole new dynamic to the music industry." The Phoenix Partners is a Seattle-based venture capital limited partnership capitalized at $135 million. The company specializes in new media and interactive entertainment. Asia Pacific Ventures (APV APV See: Adjusted Present Value ) specializes in opening doors for American technology companies to the Japanese and Asian markets. Established in 1990, APV has guided more than 100 companies to successful starts in the Far East through a range of consulting and advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal , which include product distribution, technology licensing and joint development, direct investment, opportunity analysis, fund raising and strategic partnering. Ultimately, the firm creates maximum value for its clients by compressing the time it typically takes technology companies to penetrate non-U.S. markets. As part of the deal, David Johnston David Johnston can refer to more than one person:
911 Entertainment is an innovative new music company that is creating hit records by linking both platinum and emerging artists to a ground breaking on-line music community designed to promote greater interactivity between the artists and their fans. The company has offices in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden and a digital recording and production studio located at 44130 Old Warm Springs Blvd. in Fremont, Calif. The phone number is 510/440-9292. Although currently a placeholder place·hold·er n. 1. One who holds an office or place, especially: a. One who acts as a deputy or proxy. b. One who holds an appointed office in a government. 2. , the company's Web site can be accessed at www.911Entertainment.com CONTACT: Jensen Communications Inc. Sonia Sanchez Sonia Sanchez is an African American poet most often associated with the Black Arts Movement. Born Wilsonia Benita Driver in Birmingham, Alabama on September 9, 1934, she has authored over a dozen books of poetry, as well as plays and children's books. , 818/585-9575 or Susan Stewart For the "As the World Turns" character, see Dr. Susan Stewart. Susan Stewart is an American poet, university professor and literary critic born in 1952. , 916/823-5962 |
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