Digital Island Announces Early-Round Funding From Leading Investors For Global Extranet; Industry Veterans Join Digital Island's Board as Company Expands Managed High-Speed Access to Internets in 30 Countries.HONOLULU--(BUSINESS WIRE)--March 10, 1997--Digital Island, the first high-performance network to provide dedicated bandwidth for worldwide Internet applications, announced today that it has closed a venture round of funding from leading investors. The $4 million in new funding will be applied to the company's aggressive growth plans of serving more than 30 countries directly by year end with its global Extranet. The investors are Vanguard Venture Partners, Palo Alto, California “Palo Alto” redirects here. For other uses, see Palo Alto (disambiguation). Palo Alto (IPA: /ˌpæloʊˈʔæltoʊ/, from Spanish: palo: "stick" and alto: "high", i.e. ; Crosspoint Venture Partners, Los Altos, California Los Altos (IPA: [lɔs ɑltos]) is a city at the southern end of the San Francisco Peninsula, in the San Francisco Bay Area. The city is in Santa Clara County, California, United States. ; Bay Partners, Cupertino, California; HMS HMS abbr. Her (or His) Majesty's Ship HMS (Brit) abbr (= His (or Her) Majesty's Ship) → Namensteil von Schiffen der Kriegsmarine Investments, Honolulu, Hawaii For the city and county of Honolulu, see City & County of Honolulu. “Honolulu” redirects here. For other uses, see Honolulu (disambiguation). Honolulu is the capital as well as the most populous community of the State of Hawaii, United States. ; and Silicon Valley 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. and networking industry veteran, Charlie Bass, co-founder of UB Networks, Meridian Data and P-Com. In conjunction with the new funding, two of the new investors will join Digital Island's board: Clifford Higgerson, general partner at Vanguard Venture Partners, and Rich Shapero Rich Shapero (1948- ) is an American venture capitalist [1] who moonlights as a musician and novelist. He grew up in Los Angeles and went to college at Berkeley, California.[2] He now works as a venture capitalist with the company Crosspoint. , general partner at Crosspoint Venture Partners. "Digital Island has solved the growing problem of corporations that use the Internet for accessing global, mission-critical applications," Higgerson said. "Digital Island presented us with a compelling value proposition based on their ability to solve the global infrastructure crisis. We are therefore extremely pleased to be on the leading edge of the Digital Island growth curve." "We view this round of funding as more than just a cash infusion: it is a vote of confidence from investors who are exposed to diverse opportunities," said Ron Higgins, 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. of Digital Island. "We will use the proceeds from this round to expand Digital Island's capacity to meet the extraordinary demand for our services. Our immediate goals are to satisfy our customers and establish industry leadership." Digital Island's Extranet relies on a managed, star-architecture with direct connections in countries around the world, and its location in Hawaii, to circumvent the brownouts and blackouts that plague the US Internet -- offering corporations for the first time non-stop, intercontinental, managed Internet and intranet data distribution. The Digital Island global Extranet solution provides corporate and network application services See ASP and Web services. such as: reserved bandwidth, global encryption, localized delivery, security and firewall protection, extensive site-management reports, and 24-hour/7-day a week managed network operation. Digital Island will deploy its network throughout 1997. Effective immediately, Digital Island is servicing Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Japan, France, the United States, Brazil, Australia and Korea. By the fourth quarter of 1997, Digital Island will offer direct connections to more than 30 countries. Digital Island is a venture-financed company formed in 1995 to improve and enhance the global communications infrastructure by offering a worldwide network independent of the US Network Access Points (NAPs). The Digital Island network avoids the delay of the 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. US Internet, dramatically improving transmission speeds for mission-critical, Internet and intranet communications. Headquartered in Honolulu, Hawaii, the company can be found on the Internet at http://www.digisle.net . CONTACT: Digital Island Sanne Higgins, 808/540-4002 sanne@digisle.net OR The Lippin Group Irwin Greenstein, 415/969-9462 irwing@lippin.com |
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