BroadVision Inc. formed to deliver software systems to support new kind of electronic commerce; Gain Technology founder Pehong Chen developing first interactive commerce management system.MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--March 21, 1995--Dr. Pehong Chen, founder of Gain Technology, Tuesday formally announced the formation of his new company, BroadVision Inc. BroadVision was founded to develop software systems that accelerate the shift from traditional retail and catalog catalog, descriptive list, on cards or in a book, of the contents of a library. Assurbanipal's library at Nineveh was cataloged on shelves of slate. The first known subject catalog was compiled by Callimachus at the Alexandrian Library in the 3d cent. B.C. sales toward new, technology-based distribution channels such as interactive TV, on-line services, the Internet and other interactive networks. The company received $4.3 million in 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 in 1993 and 1994, and is focusing on designing and developing its product. Scheduled for delivery by year-end 1995, BroadVision's product will be the first Interactive Commerce Management System, a new category of software that provides electronic catalogs and other interactive applications an infrastructure to enable buying and selling products and services on-line. BroadVision will provide interactive service providers with the critical software layer needed to integrate their existing business systems with the multimedia applications in their electronic marketplace. BroadVision's Interactive Commerce Management System (ICMS ICMS Imposto Sobre Circulação de Mercadorias e Serviços (Brazilian excise tax) ICMS International Centre for Mathematical Sciences ICMS International Committee for Museum Security ICMS Integrated Customer Management System ), an integrated suite of software tools and subsystems, will be introduced later this year. Designed to facilitate and manage on-line marketing and ordering, BroadVision's ICMS will efficiently manage customer profiles and privacy, data collection and reporting, payment authorization, and on-line order processing within and across applications in an interactive mall or electronic storefront. BroadVision's architecture will satisfy customer needs for an ICMS that is secure, reliable and extensible. It is operating system operating system (OS) Software that controls the operation of a computer, directs the input and output of data, keeps track of files, and controls the processing of computer programs. and network bandwidth independent, and is being designed to support fast integration with interactive applications and other business systems. BroadVision is also developing a professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. organization to help network operators and other customers to successfully deploy its ICMS products. Working on-site with customers and system integrators See systems integrator. , this group will offer service design and development methodology, application implementation, and integration with existing business systems. BroadVision plans to license its products directly to companies building interactive service networks, such as cable or telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. providers, or content providers, such as media companies, catalogs or retailers. The company will also license to partners developing integrated platforms for the delivery of interactive services, such as system integrators, software and hardware companies acting as VARs or OEMs. Dr. Pehong Chen, 37, is president, chairman and chief executive officer of BroadVision, responsible for the direction of the company. BroadVision, headquartered in Los Altos Los Altos (lôs ăl`tōs, lŏs), residential city (1990 pop. 26,303), Santa Clara co., W Calif.; inc. 1952. There is diversified light manufacturing. , Calif., is currently completing product development and is establishing reseller An organization that sells hardware and software to the general public. Resellers purchase products from software publishers and hardware manufacturers. and marketing partnerships. CONTACT: BroadVision Inc. Darlene Mann, 415/508-7206 The Horn Group Michael Teeling or Mara Bartucca, 415/579-6427 |
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