NewsStand Secures $8 Million in Venture Funding From Adams Capital Management.Business Editors/High-Tech Writers AUSTIN, Texas--(BUSINESS WIRE)--Nov. 4, 2002 Investment Validates NewsStand's Leadership in Digital Publishing and Follows $8 Million Series B Funding Gained in March 2002 NewsStand Inc., the leading provider of digital publishing and delivery solutions, today announced it has closed an $8 million round of venture financing from Adams Capital Management Inc., a national venture capital firm that invests in information technology and telecommunications companies See telecom company. . This funding round is in addition to $8 million Series B obtained in March 2002 from SSM SSM abbr. surface-to-surface missile Ventures, Noro-Moseley Partners and The 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 Times Company. NewsStand is the industry global leader holding long-term agreements with 37 newspapers, magazines and newsletters including such premier publishers as The New York Times, Barron's, China Daily, International Herald Tribune International Herald Tribune Daily newspaper published in Paris. It has long been the staple source of English-language news for American expatriates, tourists, and businesspeople in Europe. , Manila Manila (mənĭl`ə), city (1990 pop. 1,601,234), capital of the Philippines, SW Luzon, on Manila Bay. Manila is the center of the country's largest metropolitan area, its chief port, and the focus of all governmental, commercial, industrial, Times, Harvard Business Review Harvard Business Review is a general management magazine published since 1922 by Harvard Business School Publishing, owned by the Harvard Business School. A monthly research-based magazine written for business practitioners, it claims a high ranking business readership and , The Globe & Mail and The Australian. With the most extensive digital production capability available today, NewsStand currently processes nearly a terabyte One trillion bytes. Also TB, Tbyte and T-byte. See tera and space/time. (unit) terabyte - 2^40 = 1,099,511,627,776 bytes = 1024 gigabytes or roughly 10^12 bytes. (Note the spelling - one 'r'). See prefix. of content each month and delivers paid digital editions to customers in more than 100 countries around the world. NewsStand will use the funding to increase marketing and sales, implement new product development and expand into new, strategic markets. "NewsStand was one of the first to identify the business value for publishers in providing an exact replica of the printed publication in an electronic format that -- unlike Web sites -- counts towards a publisher's ABC-certified circulation numbers while protecting digital rights and copyrights," said Martin Neath Neath (nēth), Welsh Castell-nedd, town (1981 pop. 48,687), Neath Port Talbot, S Wales, on the Neath River. Neath is both a market and an industrial town. Metallurgy and a growing petrochemical industry are important. , a general partner of Adams Capital Management Inc. "The company has developed extensive technology, proven its value to an impressive roster of publishers and cultivated a strong management team. We expect to see further acceleration in subscriber and publisher demand for digital publications and look forward to working with NewsStand to maintain leadership in this industry." Neath will join NewsStand's board of directors, providing the company with the benefit of his 20+ years in software development, marketing and operations. Neath served as executive vice president at Tivoli Systems Inc., now an IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) company, where he helped to build a multi-billion dollar software and service operation. "This latest round of funding positions NewsStand to aggressively expand our services to publishers creating the most comprehensive solution for serving this emerging market," stated Kit Webster, president 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. of NewsStand Inc. "The business and technology expertise offered by Adams Capital Management is a valuable asset to our company as we continue to develop new services for publishers, exciting features for digital readers and compelling opportunities for advertisers." About NewsStand NewsStand Inc. is a digital/electronic partner for premier publishers of newspapers, magazines and printed media. NewsStand's digital delivery solution makes it possible for subscribers to download via the Internet an entire publication in its traditional print format with the additional convenience to read offline anytime or anywhere. NewsStand not only offers an entirely new reading experience for an "information hungry" global community, but also creates innovative marketing opportunities for both publishers and advertisers. Publications delivered by NewsStand are in demand by paying customers in more than 100 countries. Headquartered in Austin, Texas, NewsStand is privately held. Investors include Adams Capital Management Inc., SSM Ventures, Noro-Moseley Partners, The New York Times Company and other private investors. NewsStand and NewsStand Reader are trademarks of NewsStand, Inc. About Adams Capital Management Adams Capital Management Inc., a national venture capital firm with $700 million in capital under management, has offices in Austin, Palo Alto Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Boston and Pittsburgh. Adams Capital invests in early-stage information technology and telecommunications companies addressing compelling market opportunities created by discontinuities in industry standards, regulations, technology convergence and distribution channels. |
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