WHERE CAPITAL WAS FOUND IN THE SECOND QUARTER OF THE YEAR 2000
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Acadio gets $30 million in Financing April 2000
Acadio Corp-, a, Seattle company that offers online 'continuing education services for businesses, has secured $30 million in its second round of venture funding to fuel its growth, including online registration for classroom-based courses as well as online learning, and expanding alliances and -product development. Trans Cosmos USA, a Bellevue subsidiary of Tokyo's Trans Cosmos International, led the round, with The Phoenix Partners, BalicShares Capital and angel investors also' taking part. Acadio launched its Web site Feb. 29.
NeoRx sells more shares April 2000
NeoRx Corp. (Nasdaq: NERX), a Seattle biotech, raised approximately $19 million through a pirivate sale of 1.7 million newly-issued shares of cormonnon stock to institutional investors. After expenses, the company will realize more than $18 million in net pro-ceeds. A portion of the proceeds will finance further clinical trials of its skeletal targeted radiotherapy.
AppsCo raises $10 million April 2000
AppsCo Software Inc., a British soft-ware company with a U.S. office in Kirkland/Bellevue has raised $10 million in second round venture financing The company will use its proceeds to rampup its sales amd marketing efforts. The, financing round, led by European ven- ture capitalist 3i, included Aberdeen Asset-Management and British Linen Equity.
Telicor raises $7.5 million April 2000
Telicor Inc., a Kirkland/Seattle developer of telecommunications software, has secured $7.5 million in Series A funding from Seattle-based Guide Ventures LLC -and Saratoga, Calif.'s Redleaf Group LLC. Telicor provides unified telecommunications management services to mid-sized businesses throughout North America through its telicor.com Web portal. Guide Ventures managing director Russ Aldrich, Redleaf director George Hoyem and former Cisco Systems executive Stephen Behm will ,join Telicor's board of directors.
Crossport raises $2 million April 2000
Crossport Systems, a Kirkland/Bellevue maker of software and services for broadband Internet users, has received more than $2 million in first-round funding from individual investors. The company will use the funding for development, manufacturing and staffing. The company, which will launch this summer, is led by CEO Rob Arnold, who used to head ST Labs Inc. before -and after its acquisition by Bellevue's -Data Dimensions Inc.
Lycos to invest in Streambox - April 2000
Streambox Inc., a Kirkland/Redmond-based company building a streaming media portal site, is receiving an investment" of an undiselosed amount from Lycos Korea to use Streambox's media search services for Lycos' Korean site. Advertising revenues will be shared. Streambox searches, indexes and categorizes audio and video streams in RealNetworks, Microsoft Windows Media and Apple QuickTime formats.
Amazon.com Invests $30 million in Wineshopper.com - April 2000
Kirkland/Seattle-based Amazon.com announced this week it has invested $30 million in WineShopper.com, a San Franclsco-based company that sells wine online.
Edge2net gest $29 million
Edge2net (Kirkland), formerly Global Connect Partners, has raised $29 million from A T & T Ventures, Columbia Capital, Cedar Grove Investments, Kellet Investment Corp. , Oak Investment Partners and World view Technology Partners.
Blue Nile gets $50 million - April 2000
Blue @Nile Inc. (Kirkland/Seattle) has raised an undisclosed amount, reportedly as high as $50Million, from Paul Allen's Vulcan Ventures, Bessemer Venture Partners, Trinity Ventures, Kleiner Perkins Caufield & Byers, Weiss Peck & Greer Venture Partners and Integral Capital Partners.
Project Guides.com April 2000
Project Guides.com (Kirkland/Seattle) has secured $6 million in financing led by Alta Partners and Arch Venture Partners.
Nimble Technology - April 2000
Nimble Technology (Kirkland/Seattle) formerly Nimble.com has raised a second round $16 million from NeoCarta Ventures, Arch Venture Partners and Madrona Venture Group
Point.com (Kirkland/Bothell April 2000
Point.com has raised a fourth round $15 million from Libertyville, Illinois based chipmaker Motorola, Inc. The company is now backed $33 million from Cedar Growth Partners, Columbia Capital Equity Partners II, IDG Ventures, Kirkland Venture Capital, Oak Investment Partners and Staples.
Post Point Software (Kirkland/Bellingham) get financing
Post Point Software formerly Sign Me Up Marketing, has received an investment of an undisclosed amount from iStart Ventures (Kirkland/Seattle).
Inforspace to Acquire Internet Vendor Firm - April 2000
Kirkland/Redmonf based Info Space Inc., an Internetvendor of directory type services announced yesterday it will acquire Tempe, Arizona- based IQorder.com for $58 million in common stock. The buyout allows InfoSpace to offer its customers a new service through 24 wireless carriers: the ability to compareprices and buy products on the spot using a Cell phone, pager, or handheld device.The deal adds 90 employees to InfoSpace's staff, for a total of 530. The company also announced yesterday it hired Russ Arun as its new technology chief. Arun formerly led development for handheld devices at new Kirkland/Redmon based Microsoft Corp.
iStart Vebtures raises $4 million - April 2000
iStart Ventures, a Kirkland/Seattle based Internet business accelerator, sait it closed on a $4 million second round of funding from individual investors including Martin Tobias, CEO of Seattle based Loudeye Technologies Inc.; Bill McAleer, co-founder of Voyager Capital; David Wetherell, CEO of CMGi; and John Staenberg founder of Staenberg Private Capital.
UTM System Secures $2.5 million in funding
UTM Systems, a Bellevue-based developer of online security solutions, announced yesterday it received a $2.5 million funding package comprised of cash and credit.from the Herald Group, based in Hong Kong. In turn, UTM has selected a Herald Group a subsidiary, Herald Datanetics Ltd., as its primary source for magnetic heads and related components.
Kirkland/Redmond based AT&T Wireless Group selles $10.62 BILLION in stock to investors.
On April 25th investors swallowed more than $10 billion dollars of AT&T new stock representing its vast wireless operations. Yesterday, AT&T held an initial public offering of Redmond-based AT&T Wireless Group, with the new tracking shares priced at $29.50 each, or just above the midpoint of the $26 to $32 range proposed by AT&T. The 360 million shares offered sold for a total of $10.62 billion, making it the biggest Initial Public Offering of shares of stock in U.S. history. While the company had been prepared to sell up to 54 million more shares, analysts said it was encouraging, in this environment, that the stock didn't sell at the lower end of the price range. Whether or not the price holds up when the stock begins trading today will say something about whether investors are getting over their fright.
The I PO was conceived of during happier times, less than six months ago, when investors seemed to have a bottomless appetite for any business that might profit from the Webiflcation of the world - with a particular craving for those who can provide a wireless link to all the niftiness of the Internet. But in recent weeks, worries about when those profits might materialize have killed that hunger, prompting steep selloff that has beaten down the high-flying share prices of even those Companies that already make money. So instead of rushing to sell their shares, companies such as the Internet service AltaVista have been postponing their IPOs, fearful that the current atmosphere will derive them of a big payday.
But yesterday AT&T-proceeded with the new wireless "tracking' stock which will represent the financial performance of the company's mobile phone business, as well as new initiatives using the airwaves to deliver phone and Web services to homes and businesses with special anternnas. Naturally, since AT&T Wireless is a real business with real customers and real revenues, a successful, IPO won't mean the boom times are returning for promising Internet companies still losing money or barely turning a profit.
0n the other hand, if investors don't want any part of a business with such strong credentials, it'll mean investors are having a hard time getting past the recent trauma.
Part of the reason AT&T chose not to delay the IPO is that it's not so simple to coordinate stock sale this large.
The company spent the last few weeks visiting major money managers to sell them on the investment , laying out the business plan and prospects for AT&T Wireless. While a "road show" is pretty standard for any stock offering, the record-setting size of this IPO meant that AT&T had to find more buyers than most.
DataChannel Inc has raised $45 million - April 2000
BELLEVUE - DataChannel Inc., a Bellevue company that develops businesses Internet needs using XML technology, has raised $45 million in its mezzanine round of funding. A. mezzanine round is generally considered the final stage of private backing before a company issues an initial public offering; however, a Data Channel spokesman said the company has no immediate plans to go public. The lead investor in Data Channel's oversubscribed-round was Van Wagoner Capital Management, which manages more than $3.5 billion in assets, including the Van Wagoner group of mutual funds.
Paul O'Mara, DataChannel's vice president of marketing and engineering, said the funding will be useful in building partss of the company without having to go public in the near term. "We're not in any rush to do it (go public),' O'Mara said. "We're obviously watching what the market will do over the next few months." The investment comes on the heels of Data Channel's Feb. 8 release of a new version of its server product. DataChannel Server 4.0 is designed for corporations that are building online businesses. The technology is based on XML (extensible Markup Language), which allows data transmitted over the Web to be identified and used by any kind of computer system.' Meanwhile, the company is looking for more relationships with other com-panies, especially in the technology and sales channel areas, O'Mara said.
Other investors in the round include Cisco Systems, Deloitte Consulting, Deutsche Bank, IBM, current backer U.S. Venture Partners, and new investors EnCompass Group Inc., Trans Cosmos USA, Bain Capital's Brookside Fund, and Weiss Peck and Greer.
The company was founded in 1996 by Chairman David Pool who is also CEO of XML Fund in Kirkland/Bellevue.
DataChannel raised $9 million in its last round in April 1999, which was used to purchase Dallas-based Isogen International Corp.
Kirkland remains a global focus point of investment. Company in the Seattle/Redmond/Kirkland/Bothell area, home of Microsoft, Boeing etc, seem to have no trouble attracting capital and companies in other countries are forming subsidiaries in the State of Washington in order to attract investment capital for their businesses elsewhere in the world.
If you are a company seeking investment capital tell us about your business plan
Palms & Company, Inc. likes entrepreneurs who can succinctly convey their company's vision in a well written 20 page business plan. The Executive summary should be a condensed form of the business plan comprising 1-2 pages total. Palms strongly recommends that you include the following information in your business plan and executive summary in order to convey the merits of your business plan as well as to help us better understand your investment opportunity.
A The Company's Business
(i) Strategic mission statement
B The Market
(i) Historic and projected size in dollars you have to view this in global terms when describing it in your business plan and in terms of trillions of dollars.
(ii) There should be a description of market trnds
C Product offering
(i) Product Description
(ii) development schedule and launch dates
(iii) what makes the product different
(iv) revenue model
(i) Key Customers
(ii) customer acquisition strategy
(iii) sales channels (iv) partnerships
(i) description of key competitors ]
(ii) competitive advantage
(ii) barriers to entry
F Management Team
(i) roles and responsibilities
(ii) background of team members
(iii) board composition
(i) History and Projection P&L (first two years by quarters)
(ii) Projected cash flow ( first two years by quarters)
(iii) Current Balance Sheet
(iv) projected head count by functional areas
(v) Capitalization schedule
H The deal
(i) amount to be raised
(ii) anticipated valuation
(iii) Use of the proceeds
Palms prefers that you submit your company's business plan and accompanying 1-2 page executive summary to them as an ascii .txt email. Pleas send your summary and business plan to Capital@PeterPalms.com
If we are interested in representing you as coach, mentor,and advisor we will respond immediately.
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