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 Convertible Preferred Stock
Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". . 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 B2E B2E Business to Employee
B2E Business to Enterprise 2B(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 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. and includes some of the early pioneers in software, e-commerce, telecom, convergence technology and ISP (1) See in-system programmable.
(2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. (Internet Service Provider Internet service provider (ISP)
Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. ) 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 Adv. 1. in the midst - the middle or central part or point; "in the midst of the forest"; "could he walk out in the midst of his piece?"
midmost of migrating from the work place to the work space, which is unencumbered Unencumbered
Property that is not subject to any creditor claims or liens.
For example, if a house is owned free and clear (meaning the owner owes no mortgage to anyone), it is unencumbered. by distance or time. We call this migration the e-gration effect," says Kevin Young Kevin Young may mean any of several people:
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 firstname.lastname@example.org.