Bowstreet Closes $60 Million Third Funding Round, Bringing Total Investment to $90 Million.Business/Technology Editors PORTSMOUTH, N.H.--(BUSINESS WIRE)--March 3, 2000 Strategic Fortune 500 corporate partners Dell, GE Equity, Novell and Oracle join Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. , Morgan Stanley and other investment bankers in latest round Bowstreet (www.bowstreet.com), the leading provider of XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. infrastructure for 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 Web marketplaces, today announced that it has secured an additional $60 million in its third round of venture funding to bring the company's total investment capital to $90 million, setting a New England standard for venture investment. Strategic Fortune 500 corporate investors Dell Computer Corporation (company) Dell Computer Corporation - One of the biggest US manufacturers of IBM PC compatibles. "From notebooks to networks", their slogan says. http://us.dell.com. , GE Equity, Novell and Oracle, and global investment bankers BancBoston Robertson Stephens, Chase H&Q, 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. , Dain Rauscher Wessels, The Goldman Sachs Group, Inc., Morgan Stanley Dean Witter, Wit SoundView and Thomas Weisel Partners Thomas Weisel Partners Group, Inc. (NASDAQ: TWPG), often shortened to just TWP or TWeisel, is a U.S. middle-market and growth focused investment banking firm based in San Francisco, California. join Bowstreet's original investment group, including Charles River Ventures, Matrix Partners, Kleiner Perkins Caufield & Byers, Pequot Capital Management and Integral Capital Partners. "The quality of the investors we've attracted in our third round of funding reinforces the industry-wide momentum building behind Bowstreet and our web services revolution," explained Bowstreet 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. , Bob Crowley. "We are delighted to add these technology, e-commerce and financial global leaders to our existing list of top-tier investors. When leaders of the New Economy express confidence in your vision and in your team, it is a key indicator that you are driving a true industry innovation." "As founding members of the recently submitted Directory Services Markup Language (DSML (Directory Services Markup Language) A set of XML tags that defines the contents of a directory. Developed by Bowstreet, Inc., Tewksbury, MA (www.bowstreet. ) specification, Novell and Bowstreet share the vision that XML services and directories will be core technologies as we evolve to One Net," said Carl Ledbetter, Novell senior vice president, business and corporate development. "Our investment reinforces our technological partnership and our belief that Bowstreet is on to something really big in B2B." "Bowstreet is leading the charge in creating an open, scalable and reliable infrastructure for turn-key e-business solutions," said Matt Mosman, senior vice president, Oracle Corporation. "We believe Bowstreet has a bright future, and are pleased to be able to support them as they create products and services based on Oracle's leading e-business technology." Bowstreet: The XML infrastructure for customized Business Webs The Bowstreet(TM) Web Automation Factory is a system based on XML and directories that enables companies to instantly, affordably and exponentially broaden their market reach by creating dynamic and customized B2B Web marketplaces (or "business webs") that link customers, suppliers and partners. The Bowstreet Web Automation Factory is the first product to support the Directory Services Markup Language (DSML), a specification Bowstreet, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Microsoft, Novell, Oracle and the Sun-Netscape Alliance recently submitted to industry standards bodies. For more information on DSML, please visit www.dsml.org. About Bowstreet Bowstreet provides the XML infrastructure to automate the creation of dynamic and customized B2B Web marketplaces that enable new business models, extend companies' market reach and generate new revenue. These "business webs" link an infinite number infinite number a number so large as to be uncountable. Represented by 8, frequently obtained by 'dividing' by zero. of customers, suppliers and partners in minutes instead of months and at a fraction of the cost of today's Web development methods. Founded in January 1998, Bowstreet was ranked as one of the top e-commerce start-ups in the country at the Enterprise Outlook Conference, and has raised $90 million from leading venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] , global investment banks and strategic corporate investors. For more information, visit www.bowstreet.com or call 603-436-9100. Bowstreet is a trademark of Bowstreet.com Inc. Oracle is a registered trademark of Oracle Corporation. All other company names and products are trademarks or registered trademarks of their respective companies. |
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