Bidland.com Secures $15 Million in Third Round Venture Funding; Robertson Stephens and Other Leading Investors Bring Total Funding to $22.5 Million.Business Editors SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , Calif--(BUSINESS WIRE)--March 29, 2000 Bidland.com, a leading application service provider for auctions, today announced the completion of a venture round of funding totaling $15 million. The combined investment of Robertson Stephens' affiliates, T.I. Capital, XL Ventures and other investors will be used to execute the company's business objectives and further grow the business. This latest round brings total funding to $22.5 million. "We're committed to providing the greatest possible value to businesses conducting commerce on the Internet," said Douglas Augustine, chief executive officer, president and co-founder of Bidland.com. "This funding gives us the ability to establish Bidland.com as a market leader in providing 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 infrastructure services, a market which Robertson Stephens predicts will grow to exceed $350 billion by 2002." "Bidland.com is positioned well in the business-to-business infrastructure marketplace. They offer a low-cost, high branding solution for companies wishing to conduct commerce online," said Rick Juarez, research analyst specializing in e-Commerce infrastructure services for Robertson Stephens. "The ability to deliver sophisticated auction technology in an easily deployable manner at a low cost carves out an unmatched niche for Bidland.com. Our research indicates that auction capabilities like Bidland.com's will be deployed by B2B portals, ASPs, web hosting Making a Web site available on the Internet. Many ISPs host a few personal Web pages for an individual at no additional cost above the monthly service fee, but the address is subordinate to the ISP; for example, www.friendlyisp.com/pat_smith. companies and consumer portals." About Robertson Stephens Robertson Stephens is the leading full-service investment bank focused exclusively on growth companies. In 1999, the firm completed 218 public offerings and 66 private offerings, raising more than $40 billion in capital for clients. In addition, the firm advised on over 85 M&A transactions in 1999 with an aggregate value in excess of $60 billion. The firm's 47 equity research analysts cover nearly 700 companies. Founded in 1978, Robertson Stephens (Legal name: FleetBoston Robertson Stephens, Inc.) is a section 20 subsidiary of FleetBoston Financial FleetBoston Financial was a Boston, Massachusetts-based bank created in 1999 by the merger of Fleet Financial Group and BankBoston. In 2004 it merged with Bank of America; all of its banks and branches were given the Bank of America logo. Corporation (NYSE NYSE See: New York Stock Exchange :FBF FBF Forearm Blood Flow FBF Frankfurt Book Fair FBF Feedback Form FBF Frame by Frame (animation technique) FBF FleetBoston Financial Corporation (stock symbol) FBF Fundamental Baptist Fellowship ) and a member of the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). and all major exchanges. Together, Robertson Stephens, FleetBoston Robertson Stephens Evergreen Securities Ltd. has over 1,000 employees worldwide with offices in Boston, 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 , New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Menlo Park, Chicago, London, Munich and Tel Aviv. About T.I. Capital TI Capital U.S. is an internet technology-focused early stage venture capital firm/accelerator, capitalizing on opportunities in Southern California's growing "Digital Coast" tech. community. T.I. Capital focuses on acquiring interests in commerce, broadband infrastructure, services and content companies for the next generation Internet See Internet2. . To date T.I. Capital U.S. has acquired interests in 7 companies and has been successfully providing portfolio companies with guidance and services in critical operational areas from IT hosting to web services, marketing and recruiting. About XL Ventures XL Ventures, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control is a venture capital firm focused on early to mid-stage investments in companies that provide services, applications and technology to the digital media industry, including the Internet, mobile applications, convergence media, and broadband services. XL Ventures facilitates relationships and sharing of expertise and resources among the members of its network of portfolio companies. XL Ventures has financed 15 companies to date. Representative investments include 24/7 Media, Inc., About.com, Inc., Promotions.com, Inc., Naviant, Inc., and Andromedia, Inc. About Bidland.com Bidland.com provides businesses of all sizes with a low-cost, easy-to-use e-commerce infrastructure solution. Bidland.com delivers sophisticated, hosted e-commerce technology that integrates seamlessly into companies' Web sites, displaying their look, their brand and their unique products. Bidland.com's service requires minimal technical support and allows businesses to build and launch auctions in as little as thirty minutes. For more information visit www.bidland.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion