Commerce One Ventures to Accelerate Advances in E-Business Through Strategic Investment.Business Editors/High-Tech Writers Pleasanton, Calif.--(BUSINESS WIRE) July 31, 2000- Commerce One Ventures Leverages More Than Six Billion Dollars; Joins Forces With 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] Commerce One, Inc. (Nasdaq:CMRC CMRC Canadian Motosport Racing Club CMRC Commerce One Inc. (stock symbol) CMRC Caribbean Marine Research Center CMRC Crime Mapping Research Center CMRC Credit Management Research Centre (UK) ) today announced the formation of Commerce One Ventures, a division of Commerce One, to accelerate global participation in e-business through strategic investments. Commerce One Ventures, which has to date completed five portfolio investments, will target companies that are using the Internet to revolutionize rev·o·lu·tion·ize tr.v. rev·o·lu·tion·ized, rev·o·lu·tion·iz·ing, rev·o·lu·tion·iz·es 1. To bring about a radical change in: Television has revolutionized news coverage. 2. the buying and selling of goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. and the way businesses transact An earlier e-commerce system for the Web from Open Market that included order capture and secure order fulfillment using credit cards, ecash and other payment systems. It included customer service and subscription administration capabilities as well as an integrated database for reporting and interact with their trading communities. "Commerce One Ventures is taking an active role and making a long-term commitment to always accelerating time to market and development of vertical e-marketplaces and complimentary technologies," said Rob Tarkoff, senior vice president, Corporate Development at Commerce One. "We are combining Commerce One's experience in delivering superior e-marketplace technology with the expertise and virtually infinite resources of leading venture capital firms that together have more than six billion dollars of capital under management." Commerce One Ventures, which began operations during the second quarter, has completed portfolio investments in the following organizations: Omnicell.com, provider of end-to-end supply chain management solutions for healthcare facilities; Corio (Nasdaq:CRIO CRIO COMSEC Regional Issuing Officer cRIO Compact Reconfigurable Input Output (National Instruments) ), a leading application service provider (ASP); Simplexis, provider of a complete online purchasing resource for public institutions and their vendors; eScout, a Web-based e-commerce and e-business network for America's independent businesses and community banks; and Restaurantpro.com, provider of customized online procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. and back office services for the foodservice industry. Commerce One Ventures has joined forces with five venture capital affiliates to launch its first phase of operations, including AC Ventures, the venture capital unit of Andersen Consulting See Accenture. , Canaan Partners, Foundation Capital, Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. Dean Witter Dean Witter may refer to:
"Commerce One Ventures is well positioned to leverage the exchange expertise and relationships of its parent company to identify startups that meet the emerging needs of e-marketplaces and their participants. As a result, AC Ventures will be able to invest in a broader array of companies in one of its key areas of focus," said Barry Cater, a partner with AC Ventures. "Further, our participation reinforces the strategic alliance that Andersen Consulting already has forged with Commerce One." The day-to-day portfolio management of Commerce One Ventures is directed by Jeff Smith, formerly vice president of Business Development, who will transition into the role of vice president and general manager of Commerce One Ventures. Commerce One Ventures will operate as the investment arm of Commerce One's Corporate Development group. "Commerce One Ventures is a new model for corporate venture investment. We are pooling the financial resources and expertise of multiple venture capital firms, making our ability to fund the acceleration of e-business virtually limitless and unmatchable," said Bill Harding at Morgan Stanley Dean Witter Private Equity. "We look forward to working with Commerce One Ventures and the other venture capital firms to expand the capabilities of e-marketplaces and grow exponentially ex·po·nen·tial adj. 1. Of or relating to an exponent. 2. Mathematics a. Containing, involving, or expressed as an exponent. b. the participation from buyers, suppliers and Net Market Makers." About Commerce One Commerce One (Nasdaq:CMRC) is the leader in global e-commerce solutions for business. Through its products, portals, and services, Commerce One creates access to worldwide markets, allowing anyone to buy from anyone, anytime, anywhere. The Commerce One Global Trading Web(TM) is the world's largest business-to-business trading community. Comprised of many open e-marketplaces, the Global Trading Web provides unprecedented economies of scale for buying organizations, suppliers, and service providers worldwide. Commerce One is located in Pleasanton, and can be reached by phone at 800/308-3838 or 925/520-6000 or via the Internet at http://www.commerceone.com/. Trademark Commerce One, Many Markets. One Source., Global Trading Web, GTW GTW Gateway, Inc. (stock symbol) GTW Global Trade Watch GTW Grand Trunk Western (railroad) GTW Gatwick Airport GTW Global Trading Web (Commerce One B2B-platform) , BuySite, MarketSite, Global Trading Platform, Common Business Library, 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. Development Kit, XML Commerce Connector, MarketView, and SupplyOrder are either trademarks or registered trademarks of Commerce One, Inc. All other company, product, and brand names are trademarks of their respective owners. Forward Looking Statements The foregoing paragraphs include forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include statements concerning the investment by Commerce One and its co-investment group affiliates in early-stage companies. These statements are subject to risks and uncertainties. Actual results may differ materially from those described in such statements as a result of a number of factors. These factors include but are not limited to the ability of Commerce One Ventures and its affiliates to identify and invest in promising companies and the future success of such companies and investments its. For a discussion of these and other risk factors that could affect Commerce One's business, see "Risk Factors" in Commerce One's filings with the Securities and Exchange Commission, including its annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended Dec. 31, 1999 and its quarterly report on Form 10Q for the quarter ended March 31, 2000. |
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