AntEye.com Announces Strategic Investment Round From MP3.com and Prime Ventures.Business Editors & High-Tech/Entertainment Writers LOS LOS Length of stay, see there ANGELES--(BUSINESS WIRE)--April 13, 2000 AntEye.com, a community driven studio on the Web committed to changing the traditional development process, today announced that it has closed a strategic round of financing in the sum of $4 million from two industry leaders: MP3.com, the premier online Music Service Provider (MSP (1) (Management Service Provider or Managed Service Provider) An organization that manages a customer's computer systems and networks which are either located on the customer's premises or at a third-party datacenter. ), and Prime Ventures, a venture partner firm that focuses on early stage Southern California-based Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the companies, many of which specialize spe·cial·ize v. 1. To limit one's profession to a particular specialty or subject area for study, research, or treatment. 2. To adapt to a particular function or environment. in content and the convergence of traditional media and the Internet. "With MP3.com as a strategic investor in AntEye we have the opportunity to explore several cross promotional ideas. We believe the convergence of AntEye's filmmakers and musicians encoding See encode. their music in the MP3 format is going to spawn To launch another program from the current program. The child program is spawned from the parent program. (operating system) spawn - To create a child process in a multitasking operating system. E.g. new creative unions all over the globe," said Matti Leshem, chief executive officer of AntEye.com. "Prime Ventures' management expertise and strategic counsel will also help maximize the long-term potential of AntEye." The strategic investments from MP3.com and Prime Ventures provide AntEye with additional resources to further assist the development of the creators, in addition to expanding AntEye's unique marketing campaign. "AntEye has touched a nerve in the online creative community and we believe that AntEye has the potential to make a significant impact in the online entertainment space," said Richard Rosenblatt, chairman 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. of Prime Ventures. About AntEye An interactive online community, AntEye.com is a platform that provides inspiration, audience, and opportunity of financial support to innovative creators of filmed, videotaped and digitally captured programming. The AntEye community of creators and viewers, who will often be one in the same, will determine which content has the potential to break into traditional and non-traditional distribution outlets. About Prime Ventures Prime Ventures is a Venture Partner firm based in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, . Prime focuses on investing in "promising" early stage Internet companies that can benefit from Prime's seed capital, active and experienced operational support, management recruitment services, mergers and acquisitions advice and Prime's wide breadth of strategic capital and business relationships. Prime Ventures' partner companies encompass many areas of the Internet, including Business to Business, Infrastructure, Convergence of Traditional Media and the Internet, and Content. It's your turn. Open your mind. AntEye will open the door. |
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