Buzzpad Secures $2.3M Investment for Peer-to-Peer Application Development Platform; Investors Include 100x, eSamsung USA, First Light Capital, Zoe Capital.Business/Technology Editors WALTHAM, Mass.--(BUSINESS WIRE)--Oct. 10, 2000 Buzzpad(TM), a company developing unique peer-to-peer (P2P See peer-to-peer and point-to-point. ) technology, announced today that the company has secured $2.3 million in Series A funding. Led by 100x, investors include eSamsung USA, First Light Capital and Zoe Capital. Buzzpad will use this additional funding to further develop the company's premier offering: the Buzzpad Platform(TM) for developing, connecting, and distributing P2P applications and services. The Buzzpad Platform provides a complete set of technology components for software developers and IT departments to create new (or enable existing) applications with P2P functionality, such as distributed processing The first term used to describe the distribution of multiple computers throughout an organization in contrast to a centralized system. It started with the first minicomputers. Today, distributed processing is called "distributed computing." See also client/server. , file sharing Copying files from one computer to another. See peer-to-peer network, file sharing protocol and file and printer sharing. , and instant collaboration. The Buzzpad Platform will be especially attractive to developers of applications that benefit from real-time social interaction and collaboration. Buzzpad supports secure, synchronous interaction between small groups of people engaged in both personal and professional pursuits -- including document editing, web browsing, shopping, searching, gaming, product demonstration, and customer service. Ken Lang, 100x Founder 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. , said, "The P2P market is exploding, and will continue to grow at an amazing a·maze v. a·mazed, a·maz·ing, a·maz·es v.tr. 1. To affect with great wonder; astonish. See Synonyms at surprise. 2. Obsolete To bewilder; perplex. v.intr. rate. We at 100x believe that Buzzpad will become the P2P platform leader, and have demonstrated our level of our confidence in Buzzpad by developing new companies around the Buzzpad Platform, in addition to providing a capital investment. Buzzpad is a perfect example of our approach around technology platforms as well as our profound belief in the immense opportunities for P2P technology." "Interactive peer-to-peer communication over Internet Protocol See Internet and TCP/IP. (networking) Internet Protocol - (IP) The network layer for the TCP/IP protocol suite widely used on Ethernet networks, defined in STD 5, RFC 791. IP is a connectionless, best-effort packet switching protocol. is recognized as a core technology for the future of digital content businesses," said Dr. Kesig Lee, President and CEO of eSamsung USA. "Buzzpad's solid technology is based on true interactive capability, which clearly differentiates itself from Napster or GNUtella." "Buzzpad's investors are also strategic partners," said Briscoe Rodgers, Buzzpad President and CEO. "By integrating the Buzzpad Platform into the applications and services of their portfolio companies, they are validating our technology, accelerating market adoption, and establishing Buzzpad as the world's leading peer-to-peer technology company. We will be releasing the first Buzzpad Enabled(TM) applications this year, as well as announcing partnerships with additional developers in various vertical markets." About Buzzpad, Inc. Founded in March 1999 by two Carnegie Mellon graduates, Buzzpad has its roots in the high-end computer games industry, where sophisticated peer-to-peer techniques were developed for multiplayer gaming Two or more people playing a game and competing with each other via computer. Although traditional card games such as bridge and poker are played online, games with a large number of people (massively multiplayer) mix real players with simulated environments that turn the computer into a . Buzzpad's patent pending P2P technology will be available in a developer API later this year. The Board of Directors includes Internet veterans Ken Lang, President and CEO of 100x (previously CTO (Chief Technical Officer) The executive responsible for the technical direction of an organization. See CIO and salary survey. of Lycos); Dr. Kesig Lee, President of eSamsung USA and Samsung of America; Andrew Bernstein
Andrew Bernstein (born 29 June 1949) is an Objectivist philosopher and professor of philosophy at Marist College. , 100x Chief Strategy Officer and Managing Director; Briscoe Rodgers, Buzzpad co-Founder, President and CEO; and Hugues Steinier, Buzzpad, co-Founder and COO. About 100x 100x is an Internet Startup Accelerator devoted to accelerating the pace, value-creation, and risk-reduction involved in creating new companies. 100x is part venture capitalist Venture Capitalist An investor who provides capital to either start-up ventures or support small companies who wish to expand but do not have access to public funding. Notes: Venture capitalists usually expect higher returns for the additional risks taken. , part incubator, part consulting services company, and part technology research center. 100x's mission is to provide emerging companies with intensive, strategic support in engineering, business design, operations, marketing and investment partnership development. The company emphasizes delivery of intensive, world-class technology services to its portfolio companies, and the development of standalone capacities in the portfolio companies themselves. 100x was founded by Ken Lang, the former CTO of Lycos and founder of Wisewire, one of the Web's first personalization companies. For more information, visit, www.100x.com. About eSamsung USA eSamsung USA Corp. is a global business facilitator located in San Jose, California San Jose (IPA: /ˌsænhoʊˈzeɪ/) is the third-largest city in California, and the tenth-largest in the United States. It is the county seat of Santa Clara County. . The company focuses on creating new ideas "New Ideas" is the debut single by Scottish New Wave/Indie Rock act The Dykeenies. It was first released as a Double A-side with "Will It Happen Tonight?" on July 17, 2006. The band also recorded a video for the track. and business opportunities in the wired and wireless world by leveraging Samsung's strength in technology and global network. About First Light Capital First Light Capital-Boston is an early stage venture capital fund investing in exceptional entrepreneurs who have the talent and drive to build successful, high-growth companies in rapidly expanding markets. First Light focuses on early stage product and service companies in enterprise software and integration, communications and business-to-business e-commerce in the Boston area. The principals bring thirty years of experience in software, information technology and venture investing venture investing The acquiring of a stake in a start-up company by a brokerage firm or analyst by obtaining discounted, pre-IPO shares. Critics claim venture investing causes analysts to have a vested interest in seeing a stock appreciate in value and so . Investments include The Reference, elantix, Strong Numbers and Ajunto. For more information, visit www.firstlightcapital-boston.com. About Zoe Capital Zoe Capital, founded by Athena Edmonds, makes investments in early stage software and Internet companies. For more information, visit www.zoecapital.com. Buzzpad, the Buzzpad Platform, and Buzzpad Enabled are trademarks of Buzzpad, Inc. All other trademarks are the property of their respective owners. |
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