Digital Commerce Leader Qpass Completes $40 Million Financing.Business Editors, High-Tech Editors SEATTLE--(BUSINESS WIRE)--May 30, 2000 Investments to Fuel Company's European Expansion, Extend Commerce Service Infrastructure to Mobile, Wireless and Broadband Platforms Qpass, a leading provider of next-generation digital commerce services, today announced the completion of $40 million in financing. Led by J&W Seligman & Company, the Series E round includes initial investments from BankBoston Ventures, SeaPoint Ventures, The Zeron Group, and Partech International, as well as additional participation from previous Qpass investors Andersen Consulting See Accenture. , Integral Capital Partners, Oak Investment Partners, RRE RRE Red Rock Eater (News Service) RRE Road Race Engineering RRE Remote Roof Easy RRE Residential Real Estate RRE Rise-And-Run-Length Encoding RRE Royal Radar Establishment (Great Britain) Investors, Venrock Associates and Qpass management. The funding will be used by Qpass to extend its industry-leading Digital Commerce Service, to develop new service applications that commerce-enable mobile and broadband environments, and to support the global expansion and deployment of its service offerings, beginning later this year in Europe. "The overwhelming interest and support Qpass received from the investment community during this funding cycle underscores the huge market potential for next-generation digital commerce, as well as our role in it as a leader and driver," said Chase Franklin, 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. of Qpass. "More importantly, I think the success of this round endorses our mission at Qpass today -- 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 digital goods worldwide -- and validates our vision for the future, as we extend our commerce service infrastructure to emerging markets and platforms in an increasingly connected world." About Qpass (www.qpass.com) Qpass, a leader in digital commerce services, is revolutionizing the sale of premium content and services online. Through its flagship Digital Commerce Service, the only end-to-end transaction platform for the marketing, sale and distribution of premium content and services across IP networks, Qpass provides the building blocks for next-generation digital commerce. Today, Qpass provides the commerce infrastructure for some of the most successful media companies on the Web, including The New York Times, The New York Times, The Morning daily newspaper, long the U.S. newspaper of record. From its establishment in 1851 it has aimed to avoid sensationalism and to appeal to cultured, intellectual readers. Wall Street Journal, Los Angeles Times Los Angeles Times Morning daily newspaper. Established in 1881, it was purchased and incorporated in 1884 by Harrison Gray Otis (1837–1917) under The Times-Mirror Co. (the hyphen was later dropped from the name). , Forbes.com, Corbis and Factiva, a Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance & Reuters company. Founded in 1997, the company is headquartered in Seattle, WA. |
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