i-drive Closes Funding Round From Strategic Corporate Investor and Top Venture Capital Firms.Business Editors, Hi-Tech Writers SAN FRANCISCO--(BUSINESS WIRE)--Jan. 19, 2000 Global Retail Partners, Information Technology Ventures, Draper Fisher Jurvetson, Partners Group and ZDNet Invest in i-drive.com i-drive.com, the leading Web-based personal storage company, today announced that it has received funding from Global Retail Partners, Information Technology Ventures, Draper Fisher Jurvetson Draper Fisher Jurvetson (DFJ) is a venture capital firm based in Menlo Park, California with affiliate offices in more than 30 cities around the world and over $4.5 billion in capital commitments. , Partners Group and ZDNet (NYSE NYSE See: New York Stock Exchange : ZDZ), bringing i-drive's investment total to over $17 million. With the infusion of capital, i-drive is making significant gains toward its goal of becoming the premier content organization and management service across the Web. As content sites aggressively compete to enhance their stickiness, i-drive poses an interesting question -- what if content could stick to the user? Like an online backpack, members carry their i-drive from site to site collecting their favorite Web content (financial research, e-commerce receipts, MP3s, photos, or desktop files) in personal, Web-based folders. In addition to accessing the contents of their i-drive anywhere, at anytime, i-drive members can share the content with anyone they choose. "Now that we've just closed our second round of funding, we have the capital and strategic partners to integrate i-drive in major content sites. i-drive is the only company capable of providing partners with a customized clipping tool for its users," said Jeffrey Bonforte, founder 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 i-drive.com. "i-drive's Sideload (TM) and clipping technologies vastly improve the usability of large files by giving users the ability to save the stuff they want, download it "Download It" is Clea's debut single. It was released in the UK on September 22, 2003 and missed the top 20 charting at #21. The single had average promotion, being performed in shows like Top of the Pops. when convenient, and easily share it with friends, colleagues and family." The investment was led by Global Retail Partners, a leading venture company which invests in early-stage big concepts that have a material impact on the way consumers and businesses use digital technology to purchase and distribute goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. . Global Retail Partners has invested in such leading public companies as GoTo.com, CyberSource.com, InterWorld, Garden.com and Exactis.com. Privately held companies privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. include Homestead Homestead. 1 City (1990 pop. 26,866), Dade co., SE Fla.; inc. 1913. A large Miami suburb with a growing Hispanic population, Homestead is a trade center for the redland district, known for its many varieties of citrus and other fruits and vegetables. .com, iMotors.com and Mercata.com. All first-round investors contributed to this round, including Draper Fisher Jurvetson, Information Technology Ventures, and Partners Group, a venture firm based in Switzerland. The funding enables i-drive to continue developing advanced Web-based tools like Sideload(TM) and Filo. It will also fund marketing programs and support i-drive's university consortium initiatives, a program that delivers i-drive's technology to colleges and universities across the nation, including Stanford, UCLA UCLA University of California at Los Angeles UCLA University Center for Learning Assistance (Illinois State University) UCLA University of Carrollton, TX and Lower Addison, TX , Case Western Reserve, UC Berkeley, George Berkeley, George (bär`klē, bûr–), 1685–1753, Anglo-Irish philosopher and clergyman, b. Co. Kilkenny, Ireland. Educated at Trinity College, Dublin, he became a scholar and later a fellow there. Mason and Wake Forest. "i-drive built an impressive technology, formed top-tier partnerships and built a consortium with many of the nation's leading universities," said Linda Fayne Levinson, partner at Global Retail Partners. "They have also built a strong management team combining entrepreneurial vision and superior technological and operating experience. We are excited to join the leader in this growing field." About i-drive.com Founded in December, 1998, i-drive.com is the leading provider of personal space on the Web. i-drive's unique, Web-based technology provides an array of tools that allow users to organize and share Web content and files quickly and efficiently online. With Filo and Scrapbook A Macintosh disk file that holds frequently used text and graphics objects, such as a company letterhead. Contrast with "clipboard," which is reserved memory that holds data only for the current session. , users can capture any Web page to their i-drive. With Sync, users can synchronize See synchronization. the contents of any folder on their computer with any folder in their i-drive. i-drive's Builder's Tools: Sideload(TM), Clip and Link are Web-based tools that allow webmasters to easily add file storage and management features to any site. i-drive.com is privately held and funded by Global Retail Partners, Information Technology Ventures, Draper Fisher Jurvetson, Partners Group and ZDNet (NYSE: ZDZ). For more information about the company and its products please visit www.idrive.com or call 415/356-2280. Editors please contact Christine Gasparac, christine@antennapr.com, 415/977-1932 at Antenna Group. |
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