BetaSphere, Inc. Receives Equity Funding from Leading Investment Firms Chase Capital Partners and GE Equity.Business Editors/High-Tech Writers PALO ALTO Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif.--(BUSINESS WIRE)--Oct. 17, 2000 Web-Based Customer Feedback Management Leader Announces $15 million Cash Infusion BetaSphere, Inc., the leading provider of Web-based customer feedback solutions for marketers and developers, today announced an infusion of $15 million in venture funding from Chase Capital Partners and GE Equity, two of the nation's leading investment firms. BetaSphere brings the voice of the customer to product marketers and developers, enabling companies to quickly and easily translate customer requirements into market-winning products and services. The results: increased revenue, shorter development cycles, higher product quality, and lower support costs. The company will use the funding to drive expansion into new markets. "Since founding BetaSphere in 1996, the company has enjoyed triple digit, annual profitable growth solely from retained earnings Retained Earnings The percentage of net earnings not paid out in dividends, but retained by the company to be reinvested in its core business or to pay debt. It is recorded under shareholders equity on the balance sheet. ," said Michael Shoppel, 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. of BetaSphere. "In revving up our expansion plans, we sought investors who would bring more to the table than just funding. Chase Capital and GE Equity are world-class organizations with both a national and international presence, and will support the company's growth plans on multiple levels. We're excited about the added momentum this brings in moving forward with the product, business development, and market opportunities in front of us." Jim Roberts Jim Roberts can refer to
BetaSphere's customers range from Fortune 500 through startup companies, and include many leading developers of Internet/E-commerce, networking/communications, enterprise, and consumer products and services. BetaSphere counts Cisco Systems “Cisco” redirects here. For other uses, see Cisco (disambiguation). Cisco System,Inc. (NASDAQ: CSCO, HKSE: 4333 ) is an American multinational corporation with 54,000 employees and annual revenue of US $28.48 billion as of 2006. , Federal Express, Palm, Motorola, HP, Lucent, and Sun Microsystems Sun Microsystems, Inc. (NASDAQ: JAVA[3]) is an American vendor of computers, computer components, computer software, and information-technology services, founded on 24 February 1982. among its many long-term customers. The company's flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , the Feedback Management Server(TM)(FMS FMS - Flexible Manufacturing System (factory automation). ), integrates customer feedback into the product marketing and development process, and is available through ASP, licensed, and combined software/service solution models. Journalists who would like to interview a BetaSphere executive should contact Karem Planas at 602/743-7199. About BetaSphere, Inc. BetaSphere is the leading provider of Web-based customer feedback solutions for marketers and developers. BetaSphere's Web-based Feedback Management Server (FMS) platform integrates customer feedback into the development process, enabling companies to increase market acceptance and lower technical risk when introducing new or enhanced products and services. Customers include Federal Express, Cisco, Lucent, HP, Motorola, Palm, Excite@Home, Sun Microsystems, and Xerox. BetaSphere is headquartered in Palo Alto, Calif. For more information, call 650/930-0200 Ext. 850 or visit the company's Web site at www.betasphere.com. About Chase Capital Chase Capital Partners (CCP (Certified Computer Professional) The award for successful completion of a comprehensive examination on computers offered by the ICCP. See ICCP and certification. . 1. (language) CCP - Concurrent Constraint Programming. 2. ) is a global private equity partnership with approximately $16 billion under management. CCP has been a leading provider of private equity capital since its inception in 1984 and is a diversified investor with significant interests in most major industries. To date, CCP has closed more than 1000 individual transactions in North America, Europe, Asia and Latin America, including over 150 investments in technology and communications companies. Recent investments include Digital Island, Telecorp PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. , Narus, Mainspring, Cobalt Networks, Resonate, Triton PCS, ITXC (Internet Telephony Exchange Carrier Corporation, Princeton, NJ, www.itxc.com) The largest IP exchange carrier in the world. ITXC was acquired by wholesale telco provider Teleglobe Bermuda Ltd. in 2004 and then by Videsh Sanchar Nigam Ltd. , iXL, and Starmedia. CCP's primary limited partner is The Chase Manhattan Corporation The Chase Manhattan Corporation was a bank holding company formed as parent of the Chase Manhattan Bank. During its time as the parent company, it was led in succession by David Rockefeller, Willard C. Butcher, and Thomas G. Labrecque. , one of the largest bank holding companies in the United States. About GE Equity GE Equity, a subsidiary of GE Capital, is the private equity arm of GE. GE Capital, with assets of more than U.S. $345 billion, is a global, diversified financial services company with 28 specialized businesses. A wholly-owned subsidiary of General Electric Company, GE Capital, based in Stamford, Conn., provides equipment management, mid-market and specialized financing, specialty insurance and a variety of consumer services, such as car leasing, home mortgages and credit cards, to businesses and individuals around the world. GE is a diversified manufacturing, technology and services company with operations worldwide. www.geequity.com |
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