DVDPlay Raises $20 Million in New Financing; Chuck Berger Named Chairman and CEO of Market Leader in Automated DVD Rental Kiosks.LOS GATOS Los Gatos (lôs gä`tōs, lŏs, găt`əs), city (1990 pop. 27,357), Santa Clara co., W Calif.; inc. 1887. It is an affluent residential community and health resort. , Calif. -- DVDPlay(TM), the leading US manufacturer and operator of DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. rental kiosks, announced today that it raised over $20 million in new equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. . El Dorado El Dorado, legendary country of South America El Dorado (ĕl`dərä`dō, –rā`–) [Span.,=the gilded man], legendary country of the Golden Man sought by adventurers in South America. Ventures, Emergence Capital Partners, Palo Alto Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. Venture Partners and Vanguard Ventures participated equally in the funding. To date, DVDPlay has raised nearly $40 million in equity financing. The new financing will be used to fund DVDPlay's national roll-out of their DVD rental kiosks. In addition, DVDPlay has secured a similar amount of lease financing commitments to support their installations through 2007. DVDPlay also announced that Charles (Chuck) Berger has been named chairman, 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. . Berger has served as non-executive chairman of DVDPlay since 2001. Mr. Berger brings nearly 30 years of executive experience to DVDPlay. Previously, Berger was CEO of Nuance Communications Nuance Communications is a computer software technology company. Their current worldwide headquarters is in Burlington, Massachusetts in the United States. Nuance provides speech and imaging solutions and is mainly known for its speech recognition and speech synthesis software that and has also served as CEO of Vicinity Corporation, AdForce, Inc. and Radius Inc. He has also held executive positions in finance, marketing and sales at Apple Computer and Sun Microsystems Sun Microsystems, Inc. (NASDAQ: JAVA[3]) is an American vendor of computers, computer components, computer software, and information-technology services, founded on 24 February 1982. . DVDPlay offers DVD renters unparalleled convenience, low rental prices and current titles with new releases available every Tuesday. DVDPlay kiosks, situated in heavily trafficked locations such as grocery stores, restaurants, convenience stores and apartment complexes, offer consumers a broad selection of new release DVDs in a compact footprint. DVDPlay's patent pending software and products enable dynamic pricing, promotions, inventory management, advertising and movie trailer insertions, as well as the capture and measurement of key business metrics. "Chuck Berger's appointment is perfectly timed as the Company transitions from startup mode to an established market leader," said Shanda Bahles, a general partner at El Dorado Ventures and DVDPlay board member. "Chuck's reputation and experience are major assets to the company and we are excited that he is on board in a full-time capacity." "New technologies and leading-edge business practices have begun to transform the nearly $10 billion North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. DVD rental market, and DVDPlay is at the forefront," said Berger. "The company provides consumers with the DVDs they want, when and where they want them. DVDPlay also offers retailers and other commercial property owners the opportunity to capitalize on the DVD revolution. I look forward to being part of the team that will continue DVDPlay's explosive growth," Berger added. About El Dorado Ventures El Dorado Ventures (EDV EDV end-diastolic volume. ) is a leading entrepreneur-focused, early-stage venture capital firm with a 20 year history of success. The firm invests across the information technology spectrum, from semiconductors and systems to communications, software and services, targeting both consumers and the enterprise. www.eldorado.com About Emergence Venture Partners Emergence Capital Partner's is a leading early-stage venture fund, focused on technology-enabled services ("TES TES Times Educational Supplement (publication) TES The Elder Scrolls (series of computer games) TES Thermal Emission Spectrometer TES Teaching Every Student TES Thermal Energy Storage "). The Emergence partners have provided investment capital to TES companies such as Salesforce.com, Ask Jeeves, WebTV, DoubleClick and many others. www.emergencecap.com About Palo Alto Venture Partners Palo Alto Venture Partners is an early-stage venture capital firm targeting the new and distinctive markets of the Internet. www.pavp.com About Vanguard Ventures Vanguard is a venture capital firm specializing in seed and early-stage high technology investments. Since 1981, Vanguard has funded 125 startups with more than 30 of these becoming major corporate successes. In aggregate, these companies returned approximately $1 billion to investors. www.vanguardventures.com About DVDPlay Inc. DVDPlay offers DVD renters unparalleled convenience, low rental prices and current titles with new releases available every Tuesday. DVDPlay kiosks, situated in heavily trafficked locations such as grocery stores, restaurants, convenience stores and apartment complexes, offer consumers a broad selection of new release DVDs in a compact footprint. DVDPlay's patent pending software and products enable dynamic pricing, promotions, inventory management, advertising and movie trailer insertions, as well as the capture and measurement of key business metrics. www.dvdplay.com |
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