WebEver Raises $5.5 Million in Funding; Financing Fuels Aggressive Product Development and Market Penetration.Business Editors SUNNYVALE, Calif.--(BUSINESS WIRE)--July 13, 2000 WebEver, Inc., an innovative infrastructure software provider whose software dramatically improves the speed of the Internet, announced it has received $5.5 million in funding led by Crystal Internet Venture Funds. Other investors include Mitsubishi, China Technology Fund and Kuo Fu Venture Capital. "We are extremely pleased that Crystal Internet Venture Funds and Mitsubishi share in our vision of improving Internet performance using our efficient distribution and routing technology," said Jesse Chou, 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 WebEver. "This round of financing will be used to accelerate our development efforts and solidify so·lid·i·fy v. so·lid·i·fied, so·lid·i·fy·ing, so·lid·i·fies v.tr. 1. To make solid, compact, or hard. 2. To make strong or united. v.intr. our products in the marketplace. We will expand our U.S. operations to help achieve our aggressive growth plans and position us strategically in the infrastructure market." WebEver develops intelligent distribution and routing products that enable users to access Web server content from the closest or optimal server. This technology can greatly reduce access time and provide improved reliability, creating an enhanced quality of experience for the user. "WebEver has a strong product in the hot Internet infrastructure sector. We believe their technology is superior to existing solutions and will eventually capture a large portion of the $40 billion market," said Howard Lee Howard Lee is the name of:
"As an international company with an extensive global presence, we understand the complexity required to manage a large global network. We see a real need for the technology WebEver is advancing," said Takuya Kawasawa, Division Manager of Mitsubishi International Corporation's 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. office. "Their product not only improves Web access, but also provides the management and data collection tools necessary to help optimize network topology See topology. and server resources." "We are impressed by the technology and the ability of the management team," added Joseph Tzeng, Managing Director of Crystal Internet Venture Funds. "With a strong product in a burgeoning market, we expect this talented team to lead the company toward becoming a major force supporting the global Internet expansion." About Crystal Internet Venture Funds Established in January 1997, Crystal Internet Venture Funds, LP (CIVF), was formed to focus on investing in early and development stage Internet and Internet-related opportunities including Internet and communications infrastructure, software, hardware, security, content, and vertical applications. The firm conducts value-added VC investing in the U.S. and Asia from locations in Ohio, California, Singapore, and Taiwan. The management of Crystal Internet Venture Funds views the Internet as a global event with strong localized emphasis and approach their investments with noted passion and disciplined methodology. An investment by CIVF gives portfolio companies access to its extensive worldwide network of financial, investment banking, distribution, manufacturing, and funding relationships. Among the companies in CIVF's portfolio are About.com, Babycenter (eToys), Cobalt networks Cobalt Networks was a maker of low-cost servers based on Linux. Founded in 1996 in Mountain View, California under the name Cobalt Microserver, the company pioneered easy to use server appliances featuring secure web user interfaces for Internet service providers (ISPs) , and Sina.com. About WebEver Founded in 1999 and based in Sunnyvale, WebEver develops solutions for Internet content delivery, distribution, and management. Its iIMPACT product speeds up Web access by delivering Web pages, graphics, streaming media See streaming audio, streaming video and digital media hub. , and applications from the optimal server. The technology redirects access around traffic congestion The condition of a network when there is not enough bandwidth to support the current traffic load. congestion - When the offered load of a data communication path exceeds the capacity. and out of service or overloaded o·ver·load tr.v. o·ver·load·ed, o·ver·load·ing, o·ver·loads To load too heavily. n. An excessive load. Adj. 1. servers. Data centers using iIMPACT can provide a considerably more efficient network with faster access, 24 x 7 reliability, centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. management, data gathering, and statistical analysis. Content providers, application providers, large corporate intranets, and VPNs can all benefit from this scalable, reliable, and cost-effective technology. For more information, please visit www.webever.com. |
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