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Gettuit.com Raises $6 Million to Fund Its Unique Convergence Technology Solution in the B2E2B Space.

Business Editors

KIRKLAND, Wash.--(BUSINESS WIRE)--April 12, 2000

Gettuit.com Inc. today announced it has successfully completed its second round of financing through a $6 million private placement of convertible preferred stock. The company plans to use the proceeds for working capital purposes to continue development of a patent pending business method that assembles various online services and programs and allows businesses to interact electronically with a seamless and intelligent solution. Gettuit is focusing on faster and more direct methods to connect the B2E2B(TM) (Business to Enterprise to Business) segment of the electronic commerce market.

"With the achievements of the greater-Seattle high-technology community, there are numerous successful, wealthy private individuals seeking opportunities to participate in the next technology paradigm. As was the case with our prior financing, this round was substantially oversubscribed and includes some of the early pioneers in software, e-commerce, telecom, convergence technology and ISP (Internet Service Provider) businesses," said Phillip L. Jordan, VP Finance. "One of these private investors, who was the founder of the first ISP, has also agreed to act as a technical advisor to our development group."

Gettuit.com is rapidly developing a suite of integrated Internet solutions that provides the next level of business electronic communication, transaction and management technology. Gettuit.com will provide an innovative approach to accessing a community of applications that manage tasks for all online activities tailored specifically for business needs. This patent pending business method will enable business users to increase productivity by accessing applications to manage both transaction and non-transaction tasks through integration technologies.

"There is a tremendous demand in the market today for a secure and efficient means for electronic commerce and business management. Business processes are in the midst of migrating from the work place to the work space, which is unencumbered by distance or time. We call this migration the e-gration effect," says Kevin Young, Gettuit's founder and CEO/Chairman. "Our three dimensional business model is at the forefront of e-gration by providing a secure, succinct path to reduce the cumbersome processes that currently plague the dot-com world. It's fair to say that we are moving rapidly beyond the dot!"

Gettuit's new service is currently under alpha development and this summer will be released in beta through major enterprise partners in combination with marquis branded application service providers. Gettuit can be contacted through http://www.gettuit.com or by email at info@gettuit.com.
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Publication:Business Wire
Date:Apr 12, 2000
Words:402
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