Need2Buy Gets Cash.A local company running an online business-to-business marketplace for the electronics components industry just landed a $43 million round of funding from heavy-hitting investors, including TMCT TMCT Trailer Mounted Communications Tower Ventures. Need2Buy.com, based in Westlake Village, has been working since March to land this second round of funding. "Times have changed," said Maury Friedman, the company's chairman 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. . The company's first round of funding, just $3 million, took hardly any time to raise late last year, Friedman recalled. "People tended to ask questions, but there was very little due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. ," he said. But the second round just happened to coincide perfectly with the stock market jitters Market Jitters Feelings of nervousness created by uncertainty or fear about the current investment environment. Notes: Market jitters can be caused by (among other things) poor corporate earnings, high rates of unemployment, or uncertainty with the Federal Reserve and a resulting plunge in the valuation of many business-to-business tech companies. "That added an element of uncertainty to the negotiations," Friedman said. Besides TMCT Ventures, backers included Shelter Ventures of Los Angeles and Baker Capital of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . The company will use the funds to enhance its technology, expand into other countries, increase its marketing efforts and expand its management team. |
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