Andromedia Inc. secures additional $4 million in new round of funding; JK&B Capital and Soros Group lead equity investment.SAN DIEGO--(BUSINESS WIRE)--April 28, 1997--Andromedia Inc. announced today at the UPSIDE Internet Showcase the successful closing of an additional $4 million 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. , bringing total outside investment in the company to $6.1 million. JK&B Capital, whose limited partners include Charles Wang
Charles B. Wang (Chinese: 王嘉廉; Pinyin: Wáng Jiālián and funds advised by Soros Fund Management The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , were the lead investors. Softbank Holdings was also an investor in this round. Andromedia launched its initial product, ARIA Recorder Reporter(TM), in late December 1996 and just completed its first calendar quarter of revenue shipments in 1997 with sales to Qualcomm, NewMedia Magazine, Sunburst Communications, Hollywood Online, Netrex, Barclays Bank, PLC, Premenos and others. JK&B Capital is a newly created fund with key limited partners including Charles Wang, founder and chairman of Computer Associates International Inc., and Quantum Industrial Partners LDC LDC See: Less developed countries LDC See less developed country (LDC). , a subsidiary of Quantum Industrial Holdings Ltd., a $2 billion fund advised by Soros Fund Management. "Our investment in Andromedia was made based on their clear technical leadership, as represented by the ARIA Recorder Reporter application for tracking and reporting on website activity as well as the ARIA platform and API (Application Programming Interface) A language and message format used by an application program to communicate with the operating system or some other control program such as a database management system (DBMS) or communications protocol. ," said Eileen Richardson, general partner at JK&B Capital. "What I like about Andromedia is their opportunity and ability to supply an essential component of the infrastructure of an Internet or intranet site," added Richardson. "The real-time capture of visitor and content information is vital to dynamic Internet applications such as ad serving and to maintaining the personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. state of enterprise applications hosted on web servers such as customer support systems." "We are very pleased to have such knowledgeable and influential partners as the new investor group to help us grow and develop our business," said Kent Godfrey, 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. of Andromedia. Andromedia plans to use the funds from this investment to further extend its technical lead in the market. The company will simultaneously expand its marketing and sales infrastructure to satisfy the intense demand for high-end website tracking and analysis solutions. With Version 1.0 of the ARIA Recorder Reporter in the marketplace since December 1996, Andromedia will begin shipping Version 1.1 of the ARIA Recorder Reporter by June 1997. ARIA Recorder Reporter 1.1 includes greatly increased reporting flexibility and specific features required by the website hosting marketplace as well as performance improvements, furthering ARIA's lead in the marketplace. The ARIA API, the software architecture required by developers of dynamic applications, will also be delivered by Q3 1997. About Andromedia Andromedia's mission is to develop and market the most powerful, flexible and widely used software platform for recording, accessing and reporting anonymous activity on the Internet, intranets and related media. Andromedia's first product, the ARIA Recorder Reporter, is the only live, easy, turnkey and scalable web recording and reporting software The following is a list of notable reporting software. Commercial software
ARIA Recorder Reporter is further distinguished by categories, user-defined groupings of content and visitors which facilitate the analysis of website activity, and a completely modular, distributable configuration. The target markets for ARIA are webmasters and marketing professionals in the financial, media, advertising and high-tech communities seeking the best way to maximize their web site investment. Andromedia was founded in May of 1995 and incorporated in December 1995. $6.1 million in equity financing, including funding from SOFTBANK, Draper Richards LP, and Platinum Ventures, has been raised to date. Andromedia's first product, the ARIA Recorder Reporter was announced in July 1996 and began shipping in December 1996. Privately held Andromedia is headquartered 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 , Calif. About JK&B Capital JK&B Capital is a $100 million venture capital firm based in Chicago. Founded in January of 1996, the firm's partners bring a very successful track record and over 40 years of venture capital experience. The partners have invested in many successful companies, many of which have gone public or been acquired, including Applied Digital Access, BroadBand Technologies, Broadvision, Brooks Fiber, Combinet, Davox, Level One, Omnipoint, Optilink, P-com, PowerFone/Nextel, Proxim, Qualcomm, SCC SCC - strongly connected component Communications, Teleos and Worldview world·view n. In both senses also called Weltanschauung. 1. The overall perspective from which one sees and interprets the world. 2. A collection of beliefs about life and the universe held by an individual or a group. . -0- Andromedia and ARIA are trademarks of Andromedia Inc. All other brand names mentioned are trademarks or registered trademarks of their respective holders and are hereby acknowledged. CONTACT: Andromedia Inc. Jennifer Meighan, 415/278-0700 jennifer@andromedia.com http://www.andromedia.com or Brodeur Porter Novelli Porter Novelli International is a leading, global PR and lobbying firm. It is part of the Omnicom Group of advertising and marketing companies, the world's largest advertising conglomerate. The following article on Porter Novelli was obtained from "Sourcewatch. Marnee Clement, 408/324-4848 mclement@brodeur.com |
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