Djangos.com Closes First Round to the Tune of $9.05 Million; Used Music Clicks and Mortar Exceeds First Round Goal.Business Editors PORTLAND, Ore.--(BUSINESS WIRE)--Aug. 1, 2000 Djangos.com Inc., the clicks and mortar Also called "bricks and clicks," it refers to businesses that offer online services via the Web as well as the traditional retail outlets (offline) staffed by people. Coined in 1999 by David Pottruck, co-CEO of the Charles Schwab brokerage firm, it refers to running the two divisions in a retailer of used (and new) CDs, DVDs, and VHS (Video Home System) A half-inch, analog videocassette recorder (VCR) format introduced by JVC in 1976 to compete with Sony's Betamax, introduced a year earlier. , has closed its first round of financing from leading northwest 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 strategic investors. The $9.05 million investment will be used for its store acquisition strategy, further development of digital distribution technology and national brand building. This investment round was led by Olympic Venture Partners of Lake Oswego Lake Os·we·go A city of northwest Oregon, a residential suburb of Portland. Population: 35,800. , Ore., which contributed $4.75 million. Digital Partners Venture Capital of Seattle, Wash. contributed $2.25 million and Erickson Capital of Beaverton, Ore. contributed $1.5 million. The balance came from other private investors. "This number exceeds our earlier goal of $7.5 million," said Steve Wood Steve Wood can refer to:
"Djangos.com's growth and hybrid business model is impressive. The company is among the first multi-channel retailers to form strategic alliances with the digital music industry, and to fully integrate in-store and Internet technology," said Gerry Langeler, principal of Olympic Venture Partners and member of the Djangos.com board of directors. From its headquarters in Portland, Ore., Djangos.com has acquired leading used music chains in Chicago, Ill. and Seattle, Wash., and is looking to expand to major U.S. markets and select cities abroad. The company's goal is to build the largest catalog of used and hard-to-find music and movies in the world. About Olympic Venture Partners Olympic Venture Partners (OVP OVP Originalverpackt (German: original packaging) OVP Over Voltage Protection OVP Ostvorpommern (German number plate area code) OVP Originalverpackung (German) ) is the leading technology-focused venture capital firm in the Pacific Northwest. Committed capital under management totals over $300 million, sourced from institutional investors such as endowments, foundations, pension funds and family trusts. The firm makes equity investments in early stage companies primarily in the western third of North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , while maintaining a leading market share position in the Pacific Northwest. Specific emphasis is on firms in the software, Internet, communications, and life sciences sectors. Olympic Venture Partners V is the currently active fund. About Digital Partners Venture Capital Digital Partners is a venture capital firm whose mission is to help talented entrepreneurs build great technology companies. The company strives to promote growth and the success of its portfolio companies through hands-on counsel and assistance. Other investments of the managing directors include Avenue A Media, Airspan Communications, Loudeye Technologies (formerly Encoding.com), Homegrocer.com, InterNAP, N2H2, Tegic Communications and Vascular Solutions. Digital Partners' venture capital history is among the longest established in the Pacific Northwest. Its Managing Directors are Dr. Pamela Gaspers, Dan Regis and Bill Tenneson. About Erickson Capital Erickson Capital, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control is the investment subsidiary of privately owned Erickson Group, Ltd. located in Beaverton, Ore. Erickson Capital makes early stage investments in Pacific Northwest companies whose products or services have an Internet or technology focus. About Djangos.com (www.djangos.com) Djangos.com is a clicks and mortar retailer of quality guaranteed used (and new) CDs, DVDs, VHS, and vintage vinyl Vintage Vinyl of Evanston, Illinois is a record store frequented by some of the world's most famous musicians and used as a reference in works of popular culture. Over the years the store has been a favorite haunt of many noteworthy actors, musicians and authors, many of . Its online catalog Similar to an online library or databases in the information storage respect, ‘’’online catalogs’’’ allow potential customers to browse a company’s items for sale from a different location using the internet. is linked through proprietary technology to the inventories of the company's retail locations and centralized distribution facility. To date, Djangos.com has 13 retail locations in Portland and Beaverton, Ore.; Seattle, Bellingham and Bellevue, Wash.; Chicago and Evanston, Ill.; and Milwaukee, Wis. The company's name is derived from the brilliant three-fingered gypsy guitarist Django Reinhardt, who has inspired European and American jazz for decades. In 1973, the image, spirit and nostalgia of the European jazz icon became the inspiration for Django Records, a single-location retail operation in Portland, Ore. Django Records is renowned for its depth and expertise in pre-owned, as well as rare and vintage music. This store, purchased in May 1999 by the co-founders of Djangos.com and now the company flagship, is shopped by tourists, local music lovers and internationally known musicians. |
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