BravoGifts.com Closes $8 Million in Venture Capital Equity Infusion to Support Site Launch and Company Expansion.SAN FRANCISCO--(BUSINESS WIRE)--Aug. 4, 1999-- Online business gift pioneer BravoGifts.com (http://www.bravogifts.com) Wednesday announced the completion of an $8 million round of funding from investment firms Menlo Ventures, Doll doll, small figure of a human being, usually used as a child's toy. The many types of dolls found among the relics of primitive peoples were cult objects. Egypt, Greece, and Rome have left well-preserved dolls of wood, clay, bone, ivory, and bronze that were used Capital Management and several other private sources. The funds will go toward supporting the extensive site launch activities, marketing programs and expansion of the current product and service offerings in preparation for a dramatic growth in business. BravoGifts.com, the first e-commerce company dedicated to the business gift market, launched its Web site on July 26, 1999. "Customer reaction to BravoGifts.com has been incredibly strong," said Allyson Campa, 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 BravoGifts.com. BravoGifts.com offers the broadest collection of brilliant business gifts available anywhere, advice and information on business gifts, and unique gift selection tools in one easily accessible Internet location. "As our national survey of working Americans revealed, 410 million business-related gifts are given each year, and 70 percent of Americans experience difficulty giving business gifts. Our goal is to provide an unparalleled service to these business gift-givers, and in the process, establish leadership in the $20 billion business gift market," continued Campa. Menlo Ventures and Doll Capital Management bring a wealth of e-commerce experience to BravoGifts.com. "E-commerce is quickly changing the way every corporation conducts business, and BravoGifts.com is in a strong position as the first e-commerce site to focus exclusively on the business gift market," said Sonja Hoel, general partner of Menlo Ventures. "Menlo Ventures was impressed im·press 1 tr.v. im·pressed, im·press·ing, im·press·es 1. To affect strongly, often favorably: with the business concept, the management team and their level of vision and execution. We are very excited to support BravoGifts.com in this round of funding." "Doll Capital is excited to help develop the first true online site of premium brands for the business gift market," said David Chao, general partner of Doll Capital Management. "BravoGifts.com distinguishes itself with a business model that is a wonderful blend of both business-to-business and business-to-consumer e-commerce." About BravoGifts.com BravoGifts.com is the first e-commerce site tailored exclusively to the needs of the business gift market. BravoGifts.com provides the highest levels of service to its customers through selection -- the widest selection of business gifts available anywhere; gift advice and services -- advice and information on business gifts, gift searching, unique gift selection tools and business gift etiquette etiquette, name for the codes of rules governing social or diplomatic intercourse. These codes vary from the more or less flexible laws of social usage (differing according to local customs or taboos) to the rigid conventions of court and military circles, and they ; and convenience -- everything is centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. in one easily accessible Internet location. The company boasts the broadest collection of brilliant business gifts from executive toys An executive toy is a useless, but stylish and funny novelty item that is usually a small mechanical gadget placed on the desk of a corporate executive. The best known are: More information can be obtained by visiting http://www.bravogifts.com, or by calling 415/348-0700. About Menlo Ventures Menlo Ventures is a Silicon Valley venture capital firm well known for providing long-term capital and management support to build entrepreneurial en·tre·pre·neur n. A person who organizes, operates, and assumes the risk for a business venture. [French, from Old French, from entreprendre, to undertake; see enterprise. companies into industry leaders. Since its founding in 1976, Menlo has organized and managed eight funds with combined investment capital of more than $1.2 billion. Menlo has invested in more than 200 exceptional technology-based companies including Internet businesses such as UUNET (UUNET Technologies, Inc., Fairfax, VA, www.uunet.net) Founded in 1987, UUNET was the first commercial Internet service provider. Originally offering e-mail and news, it became a full Internet service organization providing dial-up and leased line accounts as well as archive space for , Infoseek and Hotmail. For more information on Menlo Ventures, visit www.menloventures.com or call 650/854-8540. About Doll Capital Management Founded in 1996, Doll Capital Management is a leading early-stage venture capital firm that invests in communications, networking and Internet software & service companies. The firm's partners have many years of operational and investing experience and have funded some of the leading information technology companies such as Bridge (3Com), Centillion cen·til·lion n. 1. The cardinal number equal to 10303. 2. Chiefly British The cardinal number equal to 10600. Networks (NorTel), NET and UUNET. Some of the firm's current portfolio companies include About.com, Embark em·bark v. em·barked, em·bark·ing, em·barks v.tr. 1. To cause to board a vessel or aircraft: stopped to embark passengers. 2. .com, Foundry Networks Foundry Networks is a network system vendor selling high-end managed ethernet switches and routers. The company was founded in 1996 by Bobby R. Johnson, Jr. and is based in Santa Clara, California, USA. , Gazoontite.com, InterNap, International Manufacturing Services (Celestica), Iown, IPivot and nQuire. For more information on Doll Capital, visit www.dollcap.com or call 650/233-1400. |
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