Danger, Inc. Announces $37 Million Financing Round; Round to Be Used to Scale Customer and Partnership Base.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. , Calif. -- Danger, Inc., provider of the hiptop(R) Wireless Solution, today announced it has secured an additional $37 million in its Series D Prime financing. The financing round was led by Mobius Venture Capital, Redpoint Ventures, and SOFTBANK Capital SOFTBANK Capital is a venture capital group in the United States. See also
abbr. intravenous pyelogram IVP (Intravenous pyelogram) The use of a dye, injected into the veins, used to locate kidney stones. Also used to determine the anatomy of the urinary system. ) and Adams Street Partners. Nearly all of Danger's existing institutional investors participated at pro-rata or greater levels, including: Mobius Venture Capital, Redpoint Ventures, Meritech Capital Partners, SOFTBANK Capital Partners, Venture Strategy Partners and Diamondhead Ventures. The financing round was oversubscribed Refers to connecting more users to a system than can be fully supported if all of them were using it at the same time. Networks and servers are almost always designed with some amount of oversubscription, counting on the fact that everybody does not need the service simultaneously. , so Danger's Board of Directors approved an expansion of the round to $37 million to meet the demand for investment. In the last year, Danger launched its wireless service with an additional seven carrier partners in five additional countries around the world. In addition to T-Mobile in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Danger sells its hiptop product through EPlus in Germany, ONE in Austria, Microcell in Canada, TritonPCS in the southeastern US, Edge Wireless in the northwestern US, Cable & Wireless in the Cayman Islands Cayman Islands (kā`mən), British dependency (2005 est. pop. 44,300), 100 sq mi (259 sq km), comprising three islands in the West Indies. and Starhub in Singapore. Danger is also developing key partnerships with Original Equipment Manufacturers (OEMs) and content partners to expand the company's hardware and software offerings. Danger expects to utilize its additional funding to further develop these partnerships and expand its sales on a global basis. "As specialists in expansion-stage financing, we are delighted to be working with Danger," said Norm Fogelsong, Managing Director of IVP. "The company has a proven technology offering and a rapidly-growing subscriber base. With this substantial financing round, Danger is well-positioned to dramatically scale its business as a mass-market wireless software and services provider." "With exciting new partnerships and opportunities in place, we are fortunate to have investors that wholeheartedly whole·heart·ed adj. Marked by unconditional commitment, unstinting devotion, or unreserved enthusiasm: wholehearted approval. whole support our efforts to grow our business rapidly," said Hank Nothhaft, Danger's Chairman and Chief Executive Officer. "This oversubscribed round affirms Danger's business model, position in the marketplace, and prospects for significant success within the mobile internet Refers to gaining access to the Internet using a lightweight, handheld device. See Mobile IP, PDA, smartphone and mobile TV. market." Danger provides an end-to-end solution to wireless carriers, consisting of back-end infrastructure software, a platform for third-party application development, hardware device designs and a device operating system. Danger's wireless products have been embraced by consumers, Hollywood celebrities, musicians and athletes -- all who value the ability to stay connected while on the go. The hiptop device has received numerous awards and industry accolades, including "Best of CES" in the Wireless Communications category (CES, Las Vegas, 2004) and "Favorite Wireless Widget Pronounced "wih-jit," for decades, the term has been a popular word for a generic "thing" when there is no real name for it. It is often used to describe examples of made-up products along with other fictitious names; for example, "10 widgets, 5 frabbits and 2 dingits. " at the CTIA (1) See CompTIA. (2) (Cellular Telecommunications & Internet Association, Washington, DC, www.ctia.org, www.wow-com.com) A membership organization founded in 1984 that is involved with regulatory and public affairs issues in the wireless industry. tradeshow (Atlanta, 2004). For more information about Danger's investors, please visit their websites: Mobius Venture Capital: www.mobiusvc.com Redpoint Ventures: www.redpoint.com SOFTBANK Capital Partners: www.sbcap.com IVP: www.ivp.com Adams Street Partners: www.adamsstreetpartners.com Meritech Capital Partners: www.meritechcapital.com Venture Strategy Partners: www.venturestrategy.com Diamondhead Ventures: www.dhven.com About Danger, Inc. Danger provides a complete solution that enables wireless carriers to offer innovative and affordable voice and data products to consumers over next-generation wireless networks. Today, this solution includes: the hiptop Data Services Framework -- a back-end service delivery infrastructure; the hiptop Development Platform -- a platform for the development of mobile applications using industry standard development tools; and the hiptop Device Design -- a hardware design for a wireless all-in-one device that may be customized and branded by wireless operators. Founded in January 2000, Danger is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. backed by 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] and corporate investors. Danger is based in Palo Alto, Calif. Additional information about the company is available at www.danger.com. Danger and hiptop are trademarks and/or service marks of Danger, Inc. in the United States and in other countries. All other trademarks, service marks, and product names are the property of their respective owners. |
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