B2B Auctioneer Dovebid Secures $85.5 Million in Series C Funding.Business Editors FOSTER CITY, Calif.--(BUSINESS WIRE)--March 6, 2000 Softbank Capital SOFTBANK Capital is a venture capital group in the United States. See also
Fremont Ventures and Mayfield Fund Mayfield Fund is a venture capital firm located on Sand Hill Road in Menlo Park, California, home to many of Silicon Valley's leading venture capital firms. Mayfield was founded in 1969 by Tommy Davis, one of the first venture capitalists. Re-Invest DoveBid, Inc., a leading online and Webcast B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business auctioneer and capital asset sale advisor, today announced that it has raised $85.5 million in a Series C financing round. Participating in the financing are Softbank Capital Partners, Texas Pacific Group (TPG TPG Texas Pacific Group TPG Tapping TPG Transports Publics Genevois (Geneva, Switzerland public transportation) TPG Test Pattern Generator TPG TNT Post Group TPG Trésorier Payeur Général ), and Temasek Holdings Temasek Holdings is an Asia investment company headquartered in Singapore. With a multinational staff of more than 300 people, it manages a portfolio of over S$160 billion, or more than US$100 billion, focused primarily in Asia. -- along with repeat investors Fremont Ventures and Mayfield Fund. This new investment is earmarked for global marketing and operational expansion. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Ross Dove, 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 DoveBid, "We are very pleased to have raised this level of capital. And we are even more delighted with the quality of our investment team: Softbank with its global experience in Internet companies, TPG with its long history in diversified industrial and technology ventures, and Temasek with its strength in the Asian markets. This investment underscores DoveBid's `clicks and mortar' approach to offering the value-added services of a traditional auction business combined with the technologies of the new millennium." In conjunction with the round closure, DoveBid is expanding its board of directors by three members. Joining the DoveBid board will be Bill Burnham from Softbank and William S. Price from TPG. David S. Pottruck, president and co-CEO of The Charles Schwab Charles Schwab can refer to:
According to new board member, Bill Burnham, general partner at Softbank Capital Partners, "We are very pleased to lead Series C because we believe DoveBid has leveraged its six decades of domain expertise into a demonstrable track record of both online and Webcast auctions." William S. Price, founding partner of TPG and new DoveBid board member said, "We invested because DoveBid's focus on capital assets capital assets n. equipment, property, and funds owned by a business. (See: capital, capital account) fits with our perspective on the business-to-business marketplace. Moreover, DoveBid has the ability to address both aggregated and unaggregated assets via its Webcast and online auction capabilities." New board member, David S. Pottruck of Schwab, added, "DoveBid is a prime example of how the Internet can transform businesses. By extending the reach of its core domain expertise in business assets through on-site webcasts and online auctions, DoveBid is truly `clicks-and-mortar' in action, and I'm delighted to be sitting on the DoveBid board." About Softbank Capital Partners Softbank Capital Partners (SBCP SBCP Sociedade Brasileira de Cirurgia Plástica (Brazilian Plastic Surgery Society) SBCP Sabah Biodiversity Conservation Project (Malaysia) ) is a $1.25 billion Internet venture investment group sponsored by Softbank Corp. Led by partners Masayoshi Son Masayoshi Son (Japanese: 孫正義, Son Masayoshi; born August 111957 in Tosu, Saga Prefecture, Japan) is a Korean-Japanese and the founder and current chief executive officer of Softbank Capital, and the chief executive officer of SoftBank Mobile (the , Softbank Corp.'s founder, president and CEO; Ronald Fisher, vice-chairman of Softbank Holdings Inc.; Charles R. Lax, a co-founder of Softbank Technology Ventures; and Bill Burnham, former Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. Corp. e-commerce analyst, SBCP focuses on late stage investments. For more information, visit www.sbcap.com or www.softbank.com. About Texas Pacific Group (TPG) Texas Pacific Group, founded in 1993, is a private investment partnership with capital in excess of $7 billion, and with offices in Fort Worth, TX, 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 , CA, Washington, D.C., and London. An early private equity investor in technology, Texas Pacific Group recently completed one of the largest private equity investments in technology with its $300 to $500 million commitment to France's Gemplus S.A., the world's leading provider of smart-card based solutions. TPG`s other technology and telecommunications investments include: FirstWorld Communications, Inc., Star One, Advanced TelCom Group, ON Semiconductor, Paradyne Networks, GlobeSpan Inc., Zhone Technologies, Zilog, Inc., Landis & Gyr Communications, and GT Com. The partnership has made significant investments in a broad range of other industries, including consumer products, healthcare, airlines, food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. , and oil and gas. About Fremont Ventures Fremont Ventures is part of the Fremont Group Fremont Group is a private equity group based in San Francisco, California, USA. It was formerly known as Bechtel Investments, reflecting its ownership by the Bechtel family. , an investment firm with $10 billion under management. The Fremont Ventures team focuses on partnering with company management to help maximize the company's equity value through brand building, strategic partnering and team building. For more information, visit Fremont's web site at http://www.fremontgroup.com. About Mayfield Fund Mayfield Fund is a private venture capital partnership based in Menlo Park, Calif. Mayfield focuses on companies with unique, technology-driven products and services that address well-defined needs in rapidly growing markets. For more information, visit Mayfield's web site at http://www.mayfield.com. About Temasek Holdings Established in 1974 and wholly owned by the Singapore Government, Temasek Holdings is an investment holding company. It owns and manages the Singapore Government's direct investments, both locally and overseas. About DoveBid DoveBid, Inc. is a leader in Webcast and online business-to-business (B2B) capital asset auctions. With millions of dollars of business assets available at DoveBid.com, a regular schedule of Webcast auctions, and an extensive base of large corporate customers, DoveBid is creating a liquid, global market for capital assets. DoveBid's e-commerce auction site includes 19 categories of capital assets, including: computers, disk drive and media manufacturing equipment; biotech and lab equipment electronics; electronic test and measurement; food and chemical processing; woodworking equipment and mills; metalworking and machine tools; office furnishings and equipment; plastics equipment; audio-video-broadcast production equipment; power production equipment; printing equipment; printed circuit board fab and assembly equipment; semiconductor fab equipment; telecommunication equipment; textile and apparel manufacturing equipment; plant support equipment; and paper and pulp. DoveBid also provides valuation services for sellers, buyers and financial institutions. For more information, visit DoveBid's web site at http://www.dovebid.com or call company headquarters in Foster City, CA, at (800) 665-1042 or (650) 571-7400. |
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