BigBand Networks Raises $15 Million of Venture Capital; Round Led by Meritech Capital Partners Positions Company to Accelerate Growth.Business Editors REDWOOD CITY Redwood City, city (1990 pop. 66,072), seat of San Mateo co., W Calif., on San Francisco Bay; inc. 1868. Manufactures include commmunications, electrical, electronic, and medical equipment. , Calif.--(BUSINESS WIRE)--June 23, 2003 BigBand Networks BigBand Networks (known as BigBand ; NASDAQ: BBND) is a multinational corporation headquartered in Redwood City, California, United States. BigBand manufactures and sells digital video and data processing platforms and solutions in areas ranging from digital video to CMTS. , Inc., a leading provider of broadband multimedia platform solutions for broadcast television and on-demand services, today announced the completion of a $15 million venture capital financing To start an own company or to bring a new product to the market, the venture may need to attract financial funding. There are several categories of financing possibilities. If it is a small venture, then perhaps the venture can rely on family funding, loans from friends round. New investor Meritech Capital Partners led the fourth round for the company, which has raised a total of $75 million to date. Prior investors also participated in the round, including AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. Time Warner Ventures, Charles River Charles River River, eastern Massachusetts, U.S. The longest river wholly in the state, it flows into Boston Bay after a course of about 80 mi (130 km). Navigable for about 7 mi (11 km), its estuary separates the cities of Boston and Cambridge. Ventures, Evergreen Investments, Pilot House Ventures and Redpoint Ventures. "We are very pleased to align with BigBand Networks, and expect great things from the company in the markets for video and multimedia services over broadband networks," said Paul Madera, managing director of Meritech Capital Partners. "We have carefully tracked BigBand Networks' progress over the past two years, and have been impressed by its continuing revenue growth in this difficult economic environment. This is a result of the company's attention to its customers' needs, and the unique value proposition that it provides. We look forward to working closely with BigBand Networks through its next stages of development and growth." With strong sales momentum, BigBand Networks has achieved leadership in digital video infrastructure during its six completed quarters of commercial activity. The company's platform solutions provide live programming to more than six million digital cable subscribers. In addition, more than four million of these subscribers are on networks in which BigBand Networks' solutions also drive HDTV (High Definition TV) A set of digital television (DTV) standards that offer the highest resolution and sharpest picture. Although some HDTV sets are available in standard (rather square) screen sizes, the overwhelming majority of sets are wide screen, which eliminates programming; more than one million are on networks using the company's Gigabit Ethernet transport capabilities; and more than one million are on networks in which it provides splicing splicing /splic·ing/ (spli´sing) 1. the attachment of individual DNA molecules to each other, as in the production of chimeric genes. 2. RNA s. of local digital advertising. BigBand Networks is pioneering the emerging switched broadcast market and also provides the highest density and most reliable VOD See video-on-demand. VoD - video on demand edge modulation solutions. The company has over 20 broadband network operators as customers, including seven of the top ten North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. cable operators. "Boosted by our market success, BigBand Networks was not pursuing venture capital investment, and has chosen to complete this fundraising round because of the opportunities it presents," said Amir Bassan-Eskenazi, 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 BigBand Networks. "The funds raised position the company to continue our aggressive agenda of close market interaction, innovative product development, and steep sales and fulfillment growth. At the same time, we can leverage our capital position to consider strategic opportunities that enhance our service of customer needs. We are pleased to work with Meritech Capital Partners, due to the firm's particular expertise in helping emerging market leaders, like BigBand Networks, during periods of rapid sales growth." About BigBand Networks BigBand Networks, Inc. designs, manufactures, sells and supports platforms for broadband multimedia services. These platforms are built on the company's NativeMedia(TM) technology uniquely capable of communicating and processing video, audio and data in their native formats. The field-upgradeable architecture combines advanced hardware and software technologies for high performance with agility to optimize for each service supported. This enables network operators to cost-effectively expand revenue-generating offerings of broadcast-quality content and advanced, interactive services. Services supported by the BigBand Networks' platforms include digital broadcast television, HDTV, transport of high quality video, ad insertion, VOD and iTV. The company's customers include Comcast, Time Warner Cable This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. , Cox Communications, Adelphia Communications, Bright House Networks, Mediacom Communications and Rogers Cable. BigBand Networks is based in Redwood City, CA. For more information on the company, please visit www.bigbandnet.com. |
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