Resonate Establishes Charitable Foundation; Supports Ballet San Jose Silicon Valley.Business Editors/High Tech Writers SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--Nov. 15, 2000 Million Dollar Fund's Inaugural Grant to Address Ballet Housing Needs Community Foundation Silicon Valley and Resonate res·o·nate v. res·o·nat·ed, res·o·nat·ing, res·o·nates v.intr. 1. To exhibit or produce resonance or resonant effects. 2. Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : RSNT), announced today the first grant from Resonate's newly formed charitable fund, the Resonate Foundation. The Resonate Foundation's first grant will assist the dancers of Ballet San Jose Ballet San Jose in San Jose, California, USA, was originally founded in 1986 as the "San Jose Cleveland Ballet," a co-venture with the ten-year old Cleveland Ballet which offered to the dancers added performing exposure, and each city a ballet company for a moderate, shared Silicon Valley with their housing needs as they relocate from Cleveland to Silicon Valley. Resonate, the leading provider of Internet Services Management (iSM) solutions, created the Resonate Foundation by directing shares of its initial public offering of stock in August 2000 to the Community Foundation. The new Ballet San Jose Silicon Valley was formed after the Cleveland half of the San Jose Cleveland ballet suspended operations. Two-thirds of the dancers are moving to the Bay Area to form the core of the new company and must now compete in Silicon Valley's hot housing market. "The Silicon Valley will thrive only so far as it addresses the range of needs for our community. Ken Schroeder and Resonate have demonstrated what enlightened philanthropy can do," said Andrew Bales, Executive Director, Ballet San Jose Silicon Valley. "This gift softens the economic blow that our dancers faced. It is only with this kind of support that artists can live under the region's challenging economic conditions and contribute to the Silicon Valley lifestyle." "We are delighted that Resonate, a newly public company, is making an exciting investment in the Ballet San Jose Silicon Valley," said Peter Hero, President of Community Foundation Silicon Valley. "This gift recognizes how critical the arts are to the quality of life in Silicon Valley." Resonate created the Resonate Foundation by directing shares of the company's stock sold in its IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. to the Community Foundation Silicon Valley. The proceeds of the sale of those shares funded the Resonate Foundation with approximately $1.1 million. The mission of the Resonate Foundation is to partner with nonprofit organizations Nonprofit Organization An association that is given tax-free status. Donations to a non-profit organization are often tax deductible as well. Notes: Examples of non-profit organizations are charities, hospitals and schools. to make a significant impact in the arts, education and other critical needs in our communities. The Resonate Foundation does not accept unsolicited grant requests. "We are committed to supporting the arts in our community and we are extremely excited that our first grant will contribute to the success and longevity of this newly formed ballet," said Ken Schroeder, 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. and president of Resonate. "This is a testament to all the hard work our employees put forth for the Resonate Foundation to be created and funded. I am very proud of this accomplishment and look forward to seeing the Resonate Foundation flourish and benefit our community by making lasting, positive changes." About Resonate Resonate is a leading provider of Internet Services Management (iSM), a distributed software and services solution that maximizes service levels of e-business applications to ensure optimum user satisfaction. The Resonate iSM platform monitors the entire e-business infrastructure--the network, systems and applications--and then takes automated real-time corrective action A corrective action is a change implemented to address a weakness identified in a management system. Normally corrective actions are instigated in response to a customer complaint, abnormal levels if internal nonconformity, nonconformities identified during an internal audit or to ensure high availability Also called "RAS" (reliability, availability, serviceability) or "fault resilient," it refers to a multiprocessing system that can quickly recover from a failure. There may be a minute or two of downtime while one system switches over to another, but processing will continue. and predictable performance of e-business applications. Hundreds of customers worldwide including Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , Charles Schwab Charles Schwab can refer to:
During its time as the parent company, it was led in succession by David Rockefeller, Willard C. Butcher, and Thomas G. Labrecque. , DoubleClick, E*TRADE, Federal Express, Johnson & Johnson and NextCard, among others rely on Resonate's patented, distributed software and services for their mission-critical, e-business initiatives. Resonate is headquartered in Sunnyvale, California Sunnyvale ([sʌniveil]) is a city in Santa Clara County, California, United States. It is one of the major cities that make up the Silicon Valley. As of the 2000 census, the city population was 131,760. . For more information about how Resonate is "Keeping E-Business Open for Business(TM)," visit http://www.resonate.com. Community Foundation Silicon Valley Community Foundation Silicon Valley was founded in 1954. It is one of the fastest growing foundations in the nation, with assets exceeding $600 million and awarding grants in excess of $50 million annually. The Foundation promotes philanthropy, provides charitable giving expertise to individuals and corporations, and makes grants to local nonprofit organizations and schools. More information is available at the Community Foundation's website at www.cfsv.org. Note to Editors: Resonate is a registered trademark, the Resonate logo and Keeping E-Business Open for Business are trademarks of Resonate, Inc. All other trademarks are the property of their respective owners. Matters discussed in this news release involving expectations, beliefs, plans, projections, intentions, or strategies are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. under the federal securities laws, and are made under their safe-harbor provisions. Such forward-looking statements are subject to certain risks and uncertainties. Risks that could cause actual results to differ materially from those projected are discussed in the "Risk Factors" section of our prospectus on Form 424(b) and our Quarterly Report on Form 10Q for the quarter ended September 30, 2000, which are on file with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. Resonate undertakes no obligation to publicly release the results of any revision to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. |
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