Maaya Bucks the Market Trend by Raising $8 Million in Financing; SoftBank Investment is a Solid Endorsement for Innovative E-Services Infrastructure Company.Business Editors/High-Tech Writers MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--June 11, 2001 Maaya Corporation, a provider of e-services An umbrella term for services on the Internet. E-services include e-commerce transaction services for handling online orders, application hosting by application service providers (ASPs) and any processing capability that is obtainable on the Web. See e-speak. software infrastructure, announced today that it has received $8 million in a second round of financing led by SoftBank (Softbank Corporation, Tokyo, www.softbank.com) A computer conglomerate founded in 1981 by Masayoshi Son. The company has backed Yahoo! and more than 50 hardware, software, communications and Internet companies both in the U.S. and Japan. Venture Capital. Joining SoftBank in the round is Cambrian Ventures, a venture capital firm whose investors include Amazon.com 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. Jeff Bezos Jeffrey Preston Bezos (born January 12, 1964 , Albuquerque ) is the founder, president, chief executive officer, and chairman of the board of Amazon.com. Bezos, a Phi Beta Kappa graduate of Princeton University, worked as a financial analyst for D. E. Shaw & Co. and executives and founders of Compaq, Netscape, and several other leading technology companies. Founded in 1998, Maaya's customers include Cisco Systems “Cisco” redirects here. For other uses, see Cisco (disambiguation). Cisco System,Inc. (NASDAQ: CSCO, HKSE: 4333 ) is an American multinational corporation with 54,000 employees and annual revenue of US $28.48 billion as of 2006. , Maxtor and Quantum Corporation. Maaya's core technology is an e-services mediation mediation, in law, type of intervention in which the disputing parties accept the offer of a third party to recommend a solution for their controversy. Mediation has long been a part of international law, frequently involving the use of an international commission, platform that facilitates and manages the exchange of web-based services between enterprises, customers, partners and service providers. In addition, Maaya also provides specific applications on top of this software platform that address specific customer pain points. The Maaya application suite currently supports the e-learning and e-support markets with plans to extend the platform to serve other vertical categories. "Enterprise customers recognize the need for powerful business solutions that strategically link and foster relationships between employees, customers, vendors and partners," explained Madan Bellam, CEO of Maaya. "Maaya's out-of-the-box applications for enterprise one-to-one relationships combined with its patent-pending mediation platform provides a very powerful package for enterprises." "SoftBank has made a considerable investment in Maaya due to the fact that they are established -- with strong technology and blue chip customers -- in a market segment that is poised for rapid growth," said Bill Burnham of SoftBank Venture Capital. "Maaya's mediation platform is a breakthrough in infrastructure technology, with the potential to fundamentally change the way companies utilize services offered on the Web. The fact that they are also providing applications on top of the platform to address specific value propositions is very compelling," he added. With this latest investment, the cumulative funding to date for Maaya totals $10 million. The investment will fuel sales and marketing efforts as well as ramp up Ramp Up To increase a company's operations in anticipation of increased demand. Notes: A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product. See also: Demand, Economies of Scale R&D efforts. About Maaya Corporation Based in Mountain View, Maaya is a provider of e-services software infrastructure for enterprises. Maaya's e-services mediation platform facilitates and manages the exchange of web-based services between enterprises, customers, partners and service providers. Maaya also provides applications that leverage this software platform in the areas of learning management and enterprise e-support. Current customers include Cisco Systems, Maxtor and Quantum Corporation. Maaya's investors are SoftBank Venture Capital and Cambrian Ventures. For more information, visit Maaya on the Web at http://www.maaya.com. About SoftBank Venture Capital SBVC SBVC San Bernardino Valley College SBVC Saginaw Bay Visitors Center (Bay City, Michigan) works with the best entrepreneurs to create the most powerful companies of the Internet economy The Internet Economy refers to conducting business through markets whose infrastructure is based on the Internet and World-Wide Web. An Internet economy differs from a traditional economy in a number of ways, including: communication, market segmentation, distribution costs, and price. . SBVC has $2.5 billion under its management, over 150 leading Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the companies in its portfolio, and an unparalleled investment team of former CEOs and entrepreneurs, technology pioneers, senior executives from major technology corporations, and leaders from the investment banking community. Companies in its portfolio include Art Technology Group, BUY.COM, E*TRADE, Interliant, iPrint.com, Net2Phone, PeoplePC, Preview Systems, Support.com and TeraBeam Networks. For more information, visit SoftBanks' website at: www.sbvc.com. About Cambrian Ventures Cambrian Ventures is made up of two entities that focus on different stages in the company lifecycle: Cambrian Explosion Cambrian Explosion n. The rapid diversification of multicellular animal life around the beginning of the Cambrian Period, resulting in the appearance of almost all modern animal phyla. and Cambrian Fund. Cambrian Explosion is a technology research lab that creates companies, while the Fund makes seed-stage investments in companies created both within and outside the lab. For more information, visit Cambrian Ventures' website at: www.cambrianventures.com. |
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