uTOK.com Raises $4 Million in Second Round of Funding From T-Venture and Ridgewood Capital.Business Editors/High-Tech Writers SAN FRANCISCO--(BUSINESS WIRE)--March 23, 2000 uTOK, the Users' Tree of Knowledge, developer of an innovative Web browsing companion, announced today that it has raised $4 million in new financing. T-Venture, the venture capital arm of Deutsche Telekom Deutsche Telekom AG (ISIN: DE0005557508, FWB: DTE, NYSE: DT, LSE: DEU, TYO: 9496 ) (abbreviated DTAG) is a telecommunications company headquartered in Bonn, Germany. It is the largest telecommunications company in Germany and in the EU. , and Ridgewood Capital raised the funds. The funding will be used to fund business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets and marketing programs to accelerate uTOK's position as a leader in the browsing companion industry. "Our financial commitment to uTOK is a reflection of our strong belief in the potential of the product and its pioneering technology in the online community space," said Ramin Ramin (Gonystylus) is a genus of about 30 species of hardwood trees native to southeast Asia, in Malaysia, Singapore, Indonesia, Brunei, the Philippines, and Papua New Guinea, with the highest species diversity on Borneo. Mokhtari, investment director of T-Venture. "The uTOK application helps single Web users locate other users with the same interest just by simply browsing the Web. This breaks ground for communication between users as part of a community and provides unparalleled opportunities for businesses to reach highly targeted audiences." With T-Venture's recent investment, Ramin Mokhtari will join uTOK's Board of Directors. The uTOK browsing companion opens a separate window -- visible only to other uTOK users -- that allows people to read user-generated notes and post their own comments on any Web site as they surf. It is a revolutionary, free online tool for sharing knowledge and opinions with other Internet users. uTOK released its software application last July and has seen exponential usage growth since then, strictly through "word of mouse." The expanding uTOK universe already has 1,000 user-created affinity groups in over 120 countries. These groups connect people with common interests and enables them to build relationships through which they can exchange information, opinions and ideas wherever they travel on the Web. "Ridgewood Capital believes that uTOK is on a fast track because its unique technology has already been recognized at international trade shows and is catching on with users. Our venture capital funding will be used to support the company's marketing and business development programs and further speed their market growth," said Bob Swanson There are several well-known men named Bob or Robert Swanson:
"uTOK's innovative technology could revolutionize the way we communicate and make decisions in our everyday lives by linking public information with users' knowledge and trusted advice on the Internet," said Orit Shmaya, president and co-founder of uTOK. "uTOK combines the users' knowledge and Web expertise providing value to our potential corporate partners and investors." About uTOK Inc. uTOK Inc. was founded in early 1999 in Israel by pioneers of the online community and Internet software industries. uTOK's browsing companion serves as the ultimate online tool for making decisions based on the knowledge and opinions of other trusted users -- the Users' Tree of Knowledge (uTOK). The company seeks to be the most important connection between people, their knowledge and information on the Internet. uTOK has been recognized by IDG IDG International Data Group IDG Integrated Drive Generator IDG Installation Design Guide IDG Internet Discussion Group IDG Inset Dielectric Guide IDG International Dangerous Goods (mail, shipping) , CNET (body) CNET - Centre national d'Etudes des Telecommunications. The French national telecommunications research centre at Lannion. and the World Economic Forum for its potential to impact the way consumers and businesses use the Web. uTOK is headquartered in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden with a research & development center in Israel, and the company is rapidly growing its U.S. operations. Visit uTOK at www.uTOK.com. About T-Telematik Venture Holding GmbH (T-Venture) T-Telematik Venture Holding (www.t-venture.de) is a fully-owned corporate venture capital subsidiary of Deutsche Telekom AG, a world leader in telecommunications. T-Venture provides young, technology-oriented companies that operate in the field of telematics Originally coined to mean the convergence of telecommunications and information processing, the term later evolved to refer to automation in automobiles. GPS navigation, integrated hands-free cellphones, wireless communications and automatic driving assistance systems all come under the (telecommunications and information technology) not only with capital, but also with entrepreneurial know-how. About Ridgewood Capital Ridgewood Capital (www.ridgewoodcapital.com), part of the Ridgewood Companies founded on Wall Street in 1982, invests private equity for its base of 4,000 accredited investors Accredited Investor A term used by the Securities and Exchange Commission (SEC) under Regulation D to refer to investors who are financially sophisticated and have a reduced need for the protection provided by certain government filings. Also known as "qualified purchaser". . Some of the companies in Ridgewood Capital's portfolio are: Medibuy.com, MarketFusion, Aviatis, Kids On Line America, Sycon, The Feedroom, InViso, Metasound, Worldchain, Kawama.com, Iwin.com, Horsepower.com and SourceNet. Ridgewood has offices located in Ridgewood, New Jersey Ridgewood is a village in Bergen County, New Jersey, United States. As of the United States 2000 Census, the village population was 24,936. The Village of Ridgewood was created on November 20, 1894, with the same boundaries as Ridgewood Township. and Palo Alto, California “Palo Alto” redirects here. For other uses, see Palo Alto (disambiguation). Palo Alto (IPA: /ˌpæloʊˈʔæltoʊ/, from Spanish: palo: "stick" and alto: "high", i.e. . |
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