UPSIDE Magazine Names Spinnaker Networks Among 2002 Hot 100 Private Companies; Coveted UPSIDE Hot 100 Award Recognizes Innovation, Leadership, Performance.Business Editors PITTSBURGH--(BUSINESS WIRE)--May 28, 2002 UPSIDE Upside The potential dollar amount by which the market or a stock could rise. Notes: This is basically an educated guess on how high a stock could go in the near future. See also: Bull, Downside magazine today announced that Spinnaker Networks, Inc., a leader in developing next-generation, distributed storage Storing data in multiple computers or in computers that are geographically dispersed. This was an early term for storage that evolved into SANs and storage virtualization. See SAN and storage virtualization. systems, has been selected to receive the 2002 Hot 100 Award, UPSIDE's annual award recognizing excellence and innovation among the hottest technology industry startups. UPSIDE will publish the Hot 100 Award winners in its June 2002 issue and has unveiled the winners online at UPSIDE.com. The 2002 UPSIDE Hot 100 were selected by a team of UPSIDE editors, venture capitalists Venture Capitalist An investor who provides capital to either start-up ventures or support small companies who wish to expand but do not have access to public funding. Notes: Venture capitalists usually expect higher returns for the additional risks taken. , financial analysts, market researchers and other industry luminaries who evaluated more than 400 nominations. The UPSIDE Hot 100 Award is judged on a company's technological achievements, customer acceptance of products or services, financial performance, industry partnerships, financial backing, management savvy and marketing. "We evaluated hundreds of great companies that spanned a broad range of technology market segments, and we are pleased to recognize Spinnaker Networks as one of this year's winners," said Jerry Borrell, editor in chief of UPSIDE Magazine. "Over the seven years of its existence, this award has consistently recognized companies that have become the hallmark hallmark, mark impressed on silverwork or goldwork to signify official approval of the standard of purity of the metal, also called plate mark. The hallmark was introduced by statute in England in 1300 and enforced by the Goldsmiths' Hall, London. of excellence in technology, achieving successful IPOs, or merging with other companies. We expect big things from this year's winners and look forward to following Spinnaker's success." "UPSIDE magazine has a proven track record of discovering successful companies while in their start-up stage through the bestowment be·stow tr.v. be·stowed, be·stow·ing, be·stows 1. To present as a gift or an honor; confer: bestowed high praise on the winners. 2. of the Hot 100 Award," said Ron Bianchini, Spinnaker Networks' 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. . "We are thrilled that UPSIDE has recognized our inherent value and tremendous potential by naming us a winner of the Hot 100 Award in what will be a truly breakout year for Spinnaker Networks." About the Hot 100 Award The Hot 100 Award is UPSIDE's original list of private companies most likely to achieve an 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. or be active in M&A in the upcoming year. More than 400 submissions were made this year to the categories of biotechnology, semiconductor, software, Internet infrastructure, Internet software, telecommunications and miscellaneous. The top 100 companies are selected by UPSIDE's editors and a panel of judges Panel of Judges is an indie pop band from Melbourne, Australia. Members
prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. business category. About Spinnaker Networks Spinnaker Networks, Inc., is pioneering next-generation distributed storage systems for enterprise customers and service providers. Spinnaker's innovative distributed architecture delivers unsurpassed scalability and performance in a system that significantly reduces management costs and complexity. Spinnaker was founded in 1999 and is headquartered in Pittsburgh, Pa., a geographic region with significant storage systems development and research. The Spinnaker management team comprises industry veterans from startups and F50 enterprise server, storage, and networking companies. For more information, visit www.spinnakernet.com. |
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