Andromedia, Inc. Announces the Closing of its Initial Seed Round of Financing Including SOFTBANK, Draper Richards, LP and MSIS.WALNUT CREEK, Calif.--(BUSINESS WIRE)--April 30, 1996-- Andromedia, Inc., today announced that it closed its initial round of equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. . The equity, issued as a Series A Preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. , totaled $950K and will be used to increase the development and marketing investment at the company. The equity was issued at a post-money valuation Post-Money Valuation The value of a company after external financing alternatives are added to its balance sheet. Notes: When taken with the pre-money valuation, investors can identify the amount of financing added to the company and track the level of return in order to of $6 million and included investments from SOFTBANK, the Japanese software, distribution, promotion and publishing company, Draper Richards, LP, headed by William Draper III, the founder of Sutter Hill Ventures and MSIS MSIS Medicaid Statistical Information System (formerly MedStat) MSIS Marine Safety Information System MSIS Man-Systems Integration Standards MSIS Mass Spectrometer and Incoherent Scatter MSIS Master of Science Information Systems , a diversified investment company Diversified investment company An investment vehicle such as a mutual fund that invests in an assortment of securities. in San Jose, California San Jose (IPA: /ˌsænhoʊˈzeɪ/) is the third-largest city in California, and the tenth-largest in the United States. It is the county seat of Santa Clara County. . Andromedia, Inc., formed in December 1995, builds software for recording, managing and reporting on website activity. Clients such as website administrators and corporate marketing departments can obtain critical usage data through Andromedia's analysis and reporting application. For example, users can generate detailed graphical reports on the activity of a particular website, web page, content element, advertising banner, user profile, visit profile as well as on other specific web data. In addition, applications such as advertising management or content management systems can access this data in real time through Andromedia's API, enabling dynamic, state based functionality in these applications. These applications will be able to generate custom pages or rotate advertising banners based on the state of the website, user or visit at a specific moment in time. The target market for Andromedia's products are the 150,000 plus websites currently in operation. This number is expected to reach 400,000 by early 1997. "No significant website should be without a mechanism for capturing critical usage information," said Gary Rieschel, Senior VP of SOFTBANK Holdings in the US. "This information is vital to website administrators, marketing organizations, advertisers, content providers, dynamic web applications and anyone whose livelihood is linked to a website." As a result of the Worldwide Webs' adoption of the HTTP HTTP in full HyperText Transfer Protocol Standard application-level protocol used for exchanging files on the World Wide Web. HTTP runs on top of the TCP/IP protocol. protocol as the standard for communication, the Web is essentially a stateless Refers to software that does not keep track of configuration settings, transaction information or any other data for the next session. When a program "does not maintain state" (is stateless) or when the infrastructure of a system prevents a program from maintaining state, it cannot take network. While this is an optimal structure for network efficiency it creates a serious problem for users and applications that depend on being able to capture the state of the network to perform their functions properly. "Andromedia has built an architecture with the performance and scaleability to capture the necessary state of a website, user or visit, and deliver this state through an API to the applications and users counting on it," said Larry Matheny, President/CEO of MSIS. "In addition, they can do this without impacting the performance of the network," Matheny added. Andromedia, Inc., founded in December of 1995 is building software for capturing the state condition of a website, a user of a website, or a visit trail on a website in millisecond One thousandth of a second. See space/time and ohnosecond. (unit) millisecond - (ms) One thousandth of a second, one thousand microseconds. A long time for a modern computer. intervals. This information is stored first in high speed RAM for immediate access by applications depending on it, and then finally on disk for persistent access to support time series analysis and reporting. Andromedia expects to ship product to its Beta customers in Q2 1996 and the production release in Q3 1996. CONTACT: Andromedia, Inc. Kent Godfrey, 510/256-7547 kent@andromedia.com |
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