ShareWave Secures Additional $10 Million in New Round of Blue Chip Financing; New Round of Financing Fuels Rapid Growth of New Start-up.EL DORADO El Dorado, legendary country of South America El Dorado (ĕl`dərä`dō, –rā`–) [Span.,=the gilded man], legendary country of the Golden Man sought by adventurers in South America. HILLS, Calif.--(BUSINESS WIRE)--Feb. 18, 1998-- ShareWave Inc., focused on defining a fresh approach to digital convergence In the days of the first computers, transaction and company data were the first types of information digitized. Then came text, opening the world to word processing, followed by audio CDs and finally video. in the home, today announced that it has raised $10 million in a third round of financing. Total funds raised to date by ShareWave now stand at $17.5 million. ShareWave has a long list of investors, including Microsoft Corporation (company) Microsoft Corporation - The biggest supplier of operating systems and other software for IBM PC compatibles. Software products include MS-DOS, Microsoft Windows, Windows NT, Microsoft Access, LAN Manager, MS Client, SQL Server, Open Data Base Connectivity (ODBC), MS Mail, , Paul Allen's Vulcan Ventures, APV APV See: Adjusted Present Value Technology Partners, Softbank Technology Ventures, Draper Richards, L.P., and, most recently, Cendant Corporation (formerly CUC International), as well as several unnamed strategic investors. ShareWave, formally announced last month, is focused on developing practical, innovative and affordable products that help establish the home PC as the "information furnace" that centrally connects and controls computing power, digital information and digital appliances in the home. This new round of financing adds greater scope and momentum to ShareWave's vision of a digital wireless home network. "We are extremely pleased to have this additional capital from a well-rounded group of investors, which helps propel ShareWave's vision of making the PC the 'information furnace' of the home," said Jim Schraith, ShareWave 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. . "The response from the investment and technology communities continues to be very supportive of our goals." "As an initial investor, we feel that ShareWave possesses all the key ingredients to be a huge success in this market," said Pete Bodine, Partner of APV Technology Partners. "We are delighted that ShareWave is enjoying strong investor support for its compelling vision of a digital wireless home network." Momentum is building towards the introduction of ShareWave's first product in the third quarter of this year. Last month's public announcement of ShareWave included news of the privately held company's initial rounds of funding. In addition, three weeks ago ShareWave announced that Jim Schraith had been appointed president and CEO, joining the company from the vice president and general manager position of Compaq's North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. division. ShareWave ShareWave, Inc. was founded in 1996 by a group of former Intel and venture capital executives. Sharewave's mission is to develop and market innovative technological solutions that establish the home PC as the "information furnace" that centrally connects and controls computing power, digital information and digital appliances in the home. The privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. has its headquarters in El Dorado Hills, California El Dorado Hills is a census-designated place which encompasses 17.9 square miles of land along the western boundary of El Dorado County, California. The population is estimated at 35,276 as of January 2006[1] making it the largest community in El Dorado County. , and employs more than 60 individuals. ShareWave has received funding from a blue-chip group of investors, including Microsoft Corporation, Paul Allen's Vulcan Ventures, Softbank Technology Ventures, Inc., APV Technology Partners, L.P., Draper Richards, L.P., Cendant Corporation and other corporate and private investors. Additional information on ShareWave can be found at the company's web site at http://www.sharewave.com. CONTACT: ShareWave Laura Edens, 408/426-2855 (Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most ) edens@cruzio.com David Smith, 916/939-9400 (Director Consumer Marketing) dsmith@ShareWave.com |
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