======================================================
        VENTUREWIRE --- Thursday, October 12, 2000
======================================================
           Private Company Business News
------ Published Daily by Technologic Partners -------
           http://technologicpartners.com
======================================================

Top Stories:

o Venture Unit Breaks Off Weiss, Peck, Closes $1 Billion Fund
o Mayfield, Palm, Delphi Form Net Service Platform for Autos
o Nth Power Technologies Raises $120.5 Million Energy Fund
o B2B e-Commerce Firm ThoughtWorks Has $28 Million Round One
o Kozmo.com and Urbanfetch.com Break Off Merger Talks
o MaMaMedia Restructures in an Effort to Raise More Funds

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Also in This Issue:

     New Money:
o Compliance Firm VelQuest Closes $9.2 Million First Round
o Online Marketer Invertica Raises $2 Million in First Round
o Payment Service CheckSpace Raises $11 Million in Series A
o Platform Developer Kenamea Has $8 Million First Round
o ASP Host Kamoon Raises $23 Million in Second Round Funding
o Communications Tech Firm Onex Gets $20 Million Second Round
o E-Commerce Tech Firm KnowledgeLINK Has $11 Million Series B
o French Customer Rewards Firm Raises $7.8 Million Round Two
o Media Platform Firm Context Media Has $20 Million Series B
o Streaming Media Firm Anystream Has $13 Millon Second Round
o Wireless Firm Riot Entertainment Gets $15 Million Round Two
o Wireless Software Firm mDiversity Has $18 Million Series B
o WorldPreferred.com Raises $3.7 Million in Series B
o Net Telephone Service Keen.com Has $42 Million Third Round
o Campus Web Portal Mascot Raises $12 Million in Third Round
o Expand Networks Secures $25 Million in Third Round Funding
o Iris Recognition Firm Iridian Secures $33.3 Million Funding
o Linux-based Firm TurboLinux Closes $30 Million Third Round
o Japanese Firms Invest in e-Commerce Software Provider Miva
o M-Systems Flash Disk Invests in Saifun Semiconductors
o Software Firm KnowledgeTrack Secures $6 Million Funding
o Worlkflow Technology Provider Wellogix Closes Round Four
o AccessBroker.com Secures Backing from PSINet Ventures
o Gift Service Firm Millemercis.com Raises $662,000 in Funding
o PerkinElmer Doubles Stake in Bragg Photonics to 26%
o Texaco Invests in Broadband and Interactive Firm Red Sky

     New Deals:
o Boxman.com To Liquidate Assets Following Funding Failure
o Benchmark Tape Renamed Benchmark Storage Innovations

     M&A:
o 360HipHop.com Acquired by BET.com
o B2B Components Market Need2Buy Acquires Unimate Electronics
o CyberSight Acquires Interactive Marketing Firm Nine Dots
o Hire.com Acquires Recruiting ASP Advanced Recruiting
o Newtek Capital Gets 50% Stake in Online Tech Integrator AIDA
o Nordex Acquired By Grading Information Site PowerSchool
o Travel Site Away.com Acquires Adventuroustraveler.com

     New Directors:
o PointOne Chairman Joins CaritaSoft Board of Directors
o OpenAvenue Names Xevo Founder to Board of Directors
o Vividon CEO Ellenberger Joins Torrent's Board of Directors
o Chairman and CEO of Accord Networks Joins MeetU's Board

     New People:
o ERM Firm RedCelsius Announces New Management Team
o Media Industry Tech Startup MediaOcean Names President
o Gem and Jewelry B2B Marketplace GemKey Announces New CEO
o Net Audience Measurement Firm MeasureCast Names New CEO
o Vehicle Dealership Tech Company Ocentrix Names New CEO
o Wireless Platform Firm Zeus Wireless Has New Top Executive
o eRisks Appoints Ex-Bank of America Executive as President

     VC Fund News:
o Cardinal Venture Creates $75 Million Wireless Fund

     VC Personnel:
o Infinity Capital Names New Managing Director and Advisor

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======= Top Stories =======

o Venture Unit Breaks Off Weiss, Peck, Closes $1 Billion Fund

MENLO PARK, Calif. -- Weiss Peck & Greer Venture
Partners said it spun off independent of money management
firm Weiss Peck & Greer and is now an independent
firm called Lightspeed Venture Partners. The firm
also closed Lightspeed Venture Partners I, its first
fund as an independent venture capital firm, with
$1 billion. The firm will focus on early stage investment
in communications, Internet-related companies, and
software companies. Lightspeed also said it would
offer recruiting, marketing, and operating services
to its portfolio companies and hired executives
to oversee these services. Portfolio companies from
Lightspeed's new fund include iPhotonics, a provider
of fiber opotic assembly services, Storability,
a provider of storage services, and Teem Photonics,
a provider of optical waveguide components. Lightspeed
said it will continue to work closely with Weiss,
Peck & Greer.
http://www.lightspeedventurepartners.com/
_____________________________________________

o Mayfield, Palm, Delphi Form Net Service Platform for Autos

NEW YORK -- Mayfield Fund, handheld device maker
Palm, and Delphi Automotive Systems said they have
formed a new stand-alone startup, MobileAria, which
will develop a handsfree wireless Internet service
platform for use in automobiles. The three provided
an undisclosed amount of funding in MobileAria's
recently-closed first round and have taken minority
stakes in the firm. MobileAria's platform will be
offered through a hardware device developed by Delphi
that connects with a mobile phone and Palm device.
The platform's speech recognition technology enables
users to issue voice commands so they can hear and
respond to e-mail messages, make phone calls, and
listen to Internet content while driving. The company
said it would launch its product in the second quarter
of 2001. Janice Roberts, general partner at Mayfield
Fund, said she expects the first round funding to
take MobileAria through its product launch but that
the company would raise another round of funding
next year.
http://www.mayfield.com/
http://www.delphiauto.com/
http://www.palm.com/
http://www.mobilearia.com/
_____________________________________________

o Nth Power Technologies Raises $120.5 Million Energy Fund

SAN FRANCISCO -- Nth Power Technologies, a venture
capital firm focused on investments in the global
energy utility marketplace, said it has completed
raising $120.5 million for its second venture capital
energy fund. Nth Power's previous investors, ABB,
Cinergy, Energy East, Electricite de France, and
Hydro Quebec also invested in the fund. They were
joined by new investors Alliant Energy, Avistar,
Ballentine Capital, Bank of America Capital, Central
Hudson Gas and Electric, CIBC World Markets, First
Energy, Itochu International, Lehman Brothers Venture
Capital, Meridian Energy, NiSource Development,
Norsk Hydro, PanCanadian Petroleum Limited, and
Pacific Venture Capital. The company raised $63
million for its first fund.
http://www.nthfund.com/
_____________________________________________

o B2B e-Commerce Firm ThoughtWorks Has $28 Million Round One

CHICAGO -- ThoughtWorks, which specializes in business-to-business
electronic commerce technology, said it has raised
$28 million in its first round of funding led by
Schroder Ventures US Fund. SG Cowen also invested
in the round and acted as placement agent. The company
said it will use the funds to support its growth.
Nick Somers and Kurt Bjorklund of Schroder have
joined ThoughtWorks' board of directors.
http://www.thoughtworks.com/
_____________________________________________

o Kozmo.com and Urbanfetch.com Break Off Merger Talks

NEW YORK -- Kozmo.com, a one hour delivery service
for goods purchased online, and Urbanfetch.com,
a competing online delivery service, said they have
called off recent merger negotiations. A source
close to the negotiations said Kozmo.com ended bargaining
last Thursday after discovering greater financial
liabilities than originally disclosed by Urbanfetch.
Urbanfetch's CEO Ross Stevens said in a statement
that negotiations fell apart due to differences
over business-to-consumer strategy and how it would
affect UrbanFetch's business courier service. Both
UrbanFetch and Kozmo have had significant layoffs
in recent months and in August, Kozmo.com withdrew
its planned IPO. Kozmo.com is backed by Amazon.com,
Chase Capital Partners, Flatiron Partners, Hambrecht
& Quist Group, Liberty Digital, New York City Investment
Fund, Oak Investment Partners, J.W. Seligman & Co.,
Thomas Weisel Partners, and Triad Media Ventures.
http://www.kozmo.com/
http://www.urbanfetch.com/
_____________________________________________

o MaMaMedia Restructures in an Effort to Raise More Funds

NEW YORK -- MaMaMedia, an Internet media company
that provides entertainment programming, activities,
and products aimed at children 12 years old and
younger, has laid off about 40 people as it tries
to secure additional financing. The company, which
is in the middle of trying to raise its fourth round,
said it cut approximately 40% of its staff of 110
in order to meet conditions to secure financing.
This is the second round of layoffs for the firm,
which cut 20% of its staff earlier this summer.
As part of the most recent layoffs, several MaMaMedia
departments will be restructured, though the company
said its core business would not be affected. MaMaMedia
raised a $50 million third round last fall and is
backed by BancBoston Ventures, Essex Investment
Management, Intel, J. H. Whitney & Co., J & W Seligman
& Co., RRE Investors, and Van Wagoner Capital.
http://www.mamamedia.com/

======= New Money =======

o Compliance Firm VelQuest Closes $9.2 Million First Round

HOPKINTON, Mass. -- VelQuest, a developer of electronic
process management and compliance technology used
for regulatory compliance in  pharmaceutical development
laboratories, said it closed a $9.2 million first
round. The financing was led by MedEquity Investors
and Chase Capital Partners. Additional investors
included BancBoston Ventures, GE Capital Commercial
Finance's Healthcare Group, and an associate of
North Bay Associates. Jeffrey T. Ward, principal
of MedEquity and James W. Fordyce, an individual
investor, have joined VelQuest's board of directors.
VelQuest will use the funds for global sales and
marketing and general corporate purposes.
http://www.velquest.com/
_____________________________________________

o Online Marketer Invertica Raises $2 Million in First Round

NEW YORK -- Invertica, an online direct marketing
network, said it raised $2 million in its first
round of funding from the Washington Post, the Dot-Edu
Fund, and Watchell Lipton Rosen & Katz. Individual
investors Ram Shriram, CEO and managing partner
at Sherpalo Ventures; Frank Newman, former chairman
and CEO of Bankers Trust; Carl Pascarella, president
and CEO of Visa; Sabeer Bhatia, co-founder of Hotmail;
Ashok Trivedi, co-founder of iGate Capital; and
Sunil Wadhwani, co-founder of iGate Capital participated
as well. Dexter Paine III, president of Fox Paine;
Harvi Sachar, founder of itsquare.com and SiliconIndia;
and Derrick Chen, director of venture investing
at Rare Ventures, also provided funding. The company
added Mr. Shriram and Mr. Newman to its board of
directors. Invertica said it will use the funds
to expand its sales staff and for marketing.
http://www.invertica.com/
_____________________________________________

o Payment Service CheckSpace Raises $11 Million in Series A

SEATTLE -- CheckSpace, which provides an online
payment service for small businesses, their vendors,
and customers, said it secured $11 million in its
Series A round led by Voyager Capital. Northwest
Venture Associates, Kellet Investment, and Staenberg
Venture Partners funded the round as well. Individual
investors  Boris Putanec, co-founder and vice president
of corporate strategy at Ariba; K.B. Chandrasekhar,
co-founder, CEO, and chairman of the board at Jamcracker;
Scott Oki, former senior vice president of sales
and marketing at Microsoft; and managing directors
of Internet Capital Group, Sam Jahallah and Robert
Pollan, also participated. The company will use
the funds for product development, marketing, and
to expand customer support. The company's services
are now available nationwide at their Web site.
http://www.checkspace.com/
_____________________________________________

o Platform Developer Kenamea Has $8 Million First Round

SAN FRANCISCO -- Kenamea, a developer of an interactive
Web platform for Internet businesses, said it raised
$8 million in its first round of funding led by
Crosspoint Ventures. Individual investors also participated
in this round of funding, which will be used for
product development. Kenamea's technology is designed
to allow e-businesses to run fully interactive Web-based
applications for real-time communication with customers,
suppliers, and partners.
http://www.kenamea.com/
_____________________________________________

o ASP Host Kamoon Raises $23 Million in Second Round Funding

FORT LEE, N.J. -- Kamoon, an ASP-hosted site that
creates an infrastructure within a company's network
that routes and manages human interactions and business
processes online, said it raised $23 million in
its second round of financing. The round was led
by the BRM Group and included participation from
Patricof Ventures, XDL Intervest Capital, and APEX
Partners. Eli Barkat, partner at BRM and CEO of
BackWeb Technologies, was added to the board of
directors. The company will use the funds to expand
into Europe and roll out new versions of its software.
http://www.kamoon.com/
_____________________________________________

o Communications Tech Firm Onex Gets $20 Million Second Round

BEDFORD, Mass. -- Onex Communications, developer
of communications components based on architecture
for optical networks and designed to combine network
routing, switching and transmission capabilities,
said it has closed a $20 million second round of
equity financing. Onex's second round of financing
was led by Venrock Associates with previous investors
Star Ventures, St. Paul Venture Capital, Seed Fund,
and TranSwitch also participating. Joe Casey, a
General Partner at Venrock, will join the Onex board.
The financial investment will be used to complete
Onex's initial product development and customer
trials.
http://www.onexco.com/
_____________________________________________

o E-Commerce Tech Firm KnowledgeLINK Has $11 Million Series B

LOS ANGELES -- KnowledgeLINK, a provider of collaborative
e-commerce technology, said it raised an $11 million
Series B round of funding for led by Timberline
Venture Partners. Other investors in this round
were Mission Ventures, Mgroup, and Pacific Life.
An undisclosed IT company contributed $5 million
in convertible debt as part of the funding round.
Jeffrey C. Tung, Timberline's managing partner,
has joined the company's board of directors. The
company plans to use the funds to expand into other
markets.
http://www.knowledgelinks.com/
_____________________________________________

o French Customer Rewards Firm Raises $7.8 Million Round Two

PARIS -- Maximiles.com, which provides customer
relationship and loyalty benefits online, said it
raised $7.8 million in its second round of funding.
The round included previous investors Sofinnova,
Innovacom, and CIC Capital Development. New investors
SPEF (Banques Populaires); GIMV, a Belgian investment
company; and individual investor Emmanuel Brizard,
founder and CEO of NetValue, also participated in
the funding. The company said it will use the funding
for Internet marketing projects and international
expansion. Maximiles has thirty partner sites which
reward their visitors with points redeemable on
the Maximiles.com site.
http://www.maximiles.com/
_____________________________________________

o Media Platform Firm Context Media Has $20 Million Series B

PROVIDENCE, R.I. -- Context Media, a provider of
processes and platforms that help media and content
companies manage and distribute rich-media content
across the Internet, said it raised $20 million
in its Series B round of funding led by Lehman Brothers
Venture Capital. Previous investors New Enterprise
Associates, Adams Capital Management, and Macromedia
Ventures also participated in this round. The company
will use the funds to develop its services and marketing.
http://www.contextmedia.com/
_____________________________________________

o Streaming Media Firm Anystream Has $13 Millon Second Round

STERLING, Va. -- Anystream, an Internet infrastructure
software company specializing in streaming media
encoding technology, said it received $13 million
in its second round of financing from the Intel
64 Fund. As part of its investment, Intel has entered
into a collaboration agreement to use the Anystream
Agility Enterprise encoding platform for its Intel
Itanium processor architecture. Anystream will use
the funding to help expand marketing and sales and
to develop additional products.  The company has
raised $17 million to date. Previous investors include
SCP Private Equity Partners and Citigroup Investments.
http://www.anystream.com/
_____________________________________________

o Wireless Firm Riot Entertainment Gets $15 Million Round Two

HELSINKI, Finland -- Riot Entertainment, the Finnish
wireless entertainment publishing company, said
it raised $15 million in its second round of funding
led by the Carlyle Group. Additional investors include
CDB WebTech, Lagos Ventures, and Stratos Ventures.
The company raised its previous round from eVentures,
the News Corp. and Softbank joint venture, and Nokia
Ventures. Riot Entertainment said it would use the
funding to rollout its serrvice with its telecommunications
partners across Europe and Asia. Within Asia, the
company is concentrating its efforts in high market
areas including the Philippines, Hong Kong, Singapore,
Japan, and Australia. Jean Bernard, from Carlyle
Internet Partners Europe, will take a seat on the
company's board of directors as a result of the
financing.
http://www.riot-e.com/
_____________________________________________

o Wireless Software Firm mDiversity Has $18 Million Series B

SAN JOSE, Calif. -- mDiversity, which develops software
designed to increase the spectrum efficiency of
wireless networks, said it secured more than $18
million in Series B funding led by Convergence Partners.
Ignition Corporation Venture Fund and Horizon Venture
also participated in the round. mDiversity will
use the financing to continue its business and product
development and for marketing. The company said
it has raised $30 million to date. Russ Irwin, of
Convergence Partners, has taken the seventh seat
on mDiversity's board of directors.
http://www.mdiversity.com/
_____________________________________________

o WorldPreferred.com Raises $3.7 Million in Series B

NEW YORK -- WorldPreferred.com, which provides a
global network for suppliers of any industry, said
it closed $3.7 million in its second round of funding
from NB Capital Partners, New Millennium Internet
Ventures Fund, and Jefferson Partners.  The company
said it will use the funds to expand  its subscribed
supplier network. The company received $1.3 million
in its seed round from Hummingbird, Bryker Technology
Partners, and Jefferson Partners.
http://www.worldpreferred.com/
_____________________________________________

o Net Telephone Service Keen.com Has $42 Million Third Round

SAN FRANCISCO -- Keen.com, which enables users to
talk online via a telephone, said it has raised
$42 million in its third round of funding co-led
by Innovation Investments and Pyramid Technology
Ventures. Other investors included an affiliate
of Merrill Lynch, Deutsche Banc Alex. Brown, CNET
Networks, and previous investors Amerindo Investment
Advisors, Benchmark Capital, Impact Venture Partners,
Integral Capital, Pivotal Asset Management, and
Vulcan Ventures. The company, which has raised $109
million to date, said it will use the funding to
accelerate its growth.  Keen.com has received funding
from Angel Investors, Attractor Investment Management,
eBay, Impact Venture Fund, Inktomi, and Microsoft.
http://www.keen.com/
_____________________________________________

o Campus Web Portal Mascot Raises $12 Million in Third Round

CAMBRIDGE, Mass. -- Mascot Network, which provides
universities and colleges with personalized Internet
communications and content, said it raised $12 million
in its third round. The investment included new
investor Hollinger International, and included participation
from previous investors Patricof, Direct Equity
Partners, and Arts Alliance. The company will use
the funds to extend its services to more universities
and colleges and for product development.
http://www.mascot.com/
_____________________________________________

o Expand Networks Secures $25 Million in Third Round Funding

ROSELAND, N.J. -- Expand Networks, a provider of
enterprise network technology, said it raised $25
million in its third round of funding from Weiss
Peck & Greer, America Online, Comcast Interactive
Capital, Kaufman Fund, Dain Rauscher Wessels, and
Pioneer Internet Fund. Israeli venture capital firms
Challenge and Tamir Fishman also participated. Previous
investors Kentech Ventures, Ophirtech Investors,
Eurocom Holdings, and the Emicom Group also provided
funding in this round.
http://www.expand.com/
_____________________________________________

o Iris Recognition Firm Iridian Secures $33.3 Million Funding

MARLTON, N.J. -- Iridian Technologies, which has
developed iris-recognition video-imaging technology,
said it secured $33.3 million in backing. New investor
GE Equity led the round, which included other new
investors Itochu Finance Corp., Joh.Enshede, NPM
Capital, and Perseus 2000. Previous investors Penny
Lane Partners and Walden Capital Partners also funded
the round. GE Equity vice president Stefan Abbruzzese
and Perseus managing director Bill Ford will sit
on the company's board of directors. The company
will use the funding to develop new technology platforms,
enhance its software, and for marketing. Iridian
Technologies was formed with the merger of IriScan
and Sensar.
http://www.iridiantech.com/
_____________________________________________

o Linux-based Firm TurboLinux Closes $30 Million Third Round

SAN FRANCISCO -- TurboLinux, a provider of Linux-based
software and services, said it raised $30 million
in its third round of funding from Deutsche Banc
Securities, H&Q Asia Pacific, CTC, Global Alliance,
Intec, I.T. Electronics, Itochu, ITX, and OBIC Business
Consultants. Toyo Information Systems, Fujitsu Limited,
Hitachi, IBM, SGI, Softbank E-commerce, and previous
investors August Capital, Dell Ventures, and Intel
Capital also participated in the round. The company
will use the funds to expand its services, product
development, and sales and marketing.
http://www.turbolinux.com/
_____________________________________________

o Japanese Firms Invest in e-Commerce Software Provider Miva

SAN DIEGO -- Miva, which provides e-commerce software
and services to small and middle size businesses,
said it has received an undisclosed amount of funding
from Japanese firms Internet Research Institute,
an Internet technology provider, and Sumitomo, a
trading company. This is the first time Miva has
received any outside funding. The company said it
will use the funds for sales and marketing and technology
development. Miva has been self-funded since it
was founded in 1996.
http://www.miva.com/
_____________________________________________

o M-Systems Flash Disk Invests in Saifun Semiconductors

FREMONT, Calif. -- M-Systems Flash Disk Pioneers,
a publicly traded developer of data storage products,
said it invested $10 million as part of a strategic
agreement with Saifun Semiconductors, an Israeli
semiconductor developer of non-volatile memory for
the flash market. The investment was a piece of
a $40 milllion round from investors which gives
Saifun a valuation of $400 million. The agreement
with Saifun enables M-Systems Flash Disk Pioneers
to gain access to the company's NROM technology.
Saifun's data storage technology stores 2 bits of
information per memory cell.
http://www.saifun.com/
http://www.m-sys.com/
_____________________________________________

o Software Firm KnowledgeTrack Secures $6 Million Funding

PLEASANTON, Calif. -- KnowledgeTrack, which provides
Internet infrastructure software for portals, communities,
and advanced e-commerce applications, said it completed
a $6 million round of funding. Granite Global Ventures,
U.S. Bancorp Piper Jaffray ECM Fund I, Alafi Capital,
and Hilan Capital participated in the round. The
funds will allow the company to continue to expand
strategic partnerships, increase brand awareness,
and  develop its products.
http://www.knowledgetrack.com/
_____________________________________________

o Worlkflow Technology Provider Wellogix Closes Round Four

HOUSTON -- Wellogix, a provider of workflow process
improvement and collaborative Internet technology
for the oil and gas industry, said it has closed
its fourth round with an undisclosed amount of financing
from The Beacon Group Energy Investment Fund II,
Andersen Consulting, Battery Ventures, Burlington
Resources, SCF Partners, TechQuest Capital Partners,
and Weatherford International. The company said
the funds are going to be used for product development
and continuing its corporate growth.
http://www.wellogix.com/
_____________________________________________

o AccessBroker.com Secures Backing from PSINet Ventures

DALLAS -- AccessBrocker.com, a provider of online
investing and trading services for self-directed,
active equity investors and traders, said it raised
an undisclosed amount of funding from  PSINet Ventures,
the corporate ventures unit of PSINet. The company
said the funds are going to be used to market its
site and for further product development.
http://www.accessbroker.com/
_____________________________________________

o Gift Service Firm Millemercis.com Raises $662,000 in Funding

PARIS -- Millemercis.com, which provides an online
gift-list service, said it raised FRF 5 million
($662,000) in its most recent round of funding from
individual investor Marc Simoncini. The company
said it would use the funding to expand its efforts
during the holiday season to consolidate its position
in the French gift service market.
http://www.millemercis.fr/
_____________________________________________

o PerkinElmer Doubles Stake in Bragg Photonics to 26%

MONTREAL -- PerkinElmer, a manufacturer of high-speed
optical components for telecommunications and optical
networking equipment companies, said it expanded
its equity stake in Montreal-based Bragg Photonics,
which manufactures high-speed optical components
for networking applications, from 13% to 26%. Bragg
said it will use the extra funds for further company
expansion, product development, and manufacturing.
http://www.braggphotonics.com/
_____________________________________________

o Texaco Invests in Broadband and Interactive Firm Red Sky

HOUSTON -- Red Sky, which provides broadband and
interactive services and strategic consulting and
technology, said Texaco has acquired a minority
equity stake in the company. Financial terms of
the deal were undisclosed. Red Sky has a two-year
agreement to assist Texaco with its electronic business
services. Red Sky has also received funding from
Omnicom's Communicade division, which manages investments
in Internet and digital media development companies.
http://www.redsky.com/

======= New Deals =======

o Boxman.com To Liquidate Assets Following Funding Failure

COPENHAGEN -- Boxman.com, a European online music
retailer, said it would seek approval from creditors
and shareholders to place the company in voluntary
liquidation. The liquidation of assets follows the
company's failure to secure additional funding.
Previous investors in the company include 2M Invest
and Novestra.
http://www.boxman.com/
_____________________________________________

o Benchmark Tape Renamed Benchmark Storage Innovations

BOULDER, Colo. -- Benchmark Tape, which develops
tape backup and archive systems for small to medium-sized
computer networks and workstations, said it is changing
its name to Benchmark Storage Innovations. Investors
for Benchmark include Read-Rite, Aweida Venture
Partners, and Quantum.
http://www.benchtape.com/

======= M&A =======

o 360HipHop.com Acquired by BET.com

NEW YORK -- 360HipHop.com, an online portal for
hip-hop music and culture, said it has been acquired
by BET.com, an African American portal. Financial
details of the acquisition were undisclosed. Under
the terms of the agreement BET.com and 360HipHop.com
will operate as separate sites under one business
unit with integrated management teams. Russell Simmons,
founder of 360HipHop.com, will become vice chairman
of BET.com and Scott Mills will serve as chief operating
officer for both entities. BET.com has received
investments from Microsoft, Liberty Digital, USA
Networks, and News Corp. 360HipHop.com was backed
by individual investors, Sony Music Entertainment,
and Universal Music Group.
http://www.bet.com/
http://www.360hiphop.com/
_____________________________________________

o B2B Components Market Need2Buy Acquires Unimate Electronics

WESTLAKE VILLAGE, Calif. -- Need2Buy, an online
marketplace for the electronic components industry,
said it acquired Unimate Electronics, a component
trading and fulfillment company, based in Munich,
Germany. Terms of the acquisition were not disclosed.
Need2Buy is backed by Baker Capital, TMCT Ventures,
Star Ventures, Shelter Ventures, Mitsubishi, and
Jump Investors.
http://www.unimate.de/
http://www.need2buy.com/
_____________________________________________

o CyberSight Acquires Interactive Marketing Firm Nine Dots

PORTLAND, Ore. -- CyberSight, an Internet professional
services firm, said it has acquired Nine Dots, an
interactive marketing and consulting firm. Craig
Holland will continue to serve as CEO of the Nine
Dots subsidiary and will become vice president of
Southern Californa for CyberSight. CyberSight is
majority-owned by MDC and its subsidiary Maxxcom.
Other investors include T.H. Lee & Co., Bain Captal,
Pritzker, and CIBC Capital Partners.
http://www.cybersight.com/
http://www.ninedots-corp.com/
_____________________________________________

o Hire.com Acquires Recruiting ASP Advanced Recruiting

SAN DIEGO -- Hire.com, an online recruiting application
service provider, said it acquired Advanced Recruiting
Technologies (ART), a Reticular Systems spin-off
that provides technology to automatically identify
qualified candidates from a network of Internet
based affiliate partners. Terms of the deal were
undisclosed. All ART employees will remain with
the company and Terrance Baker, president and CEO
of ART, will continue with research and development.
Hire.com is backed by Austin Ventures, Crosspoint
Ventures, Kleiner Perkins Caufield & Byers, TL Ventures,
Hearst, Pulitzer Inc., Essex Investment, and Dell
Computer. ART is funded by Reticular Systems.
http://www.hire.com/
http://www.advancedrecruitingtech.com/
_____________________________________________

o Newtek Capital Gets 50% Stake in Online Tech Integrator AIDA

NEW YORK -- Newtek Capital, a marketing and Internet
company focused on the management, development,
and integration of Internet technology and middle-market
businesses, announced it has taken a 50% stake in
 Advanced Internet Design and Applications (AIDA),
a Web technology integrator. Newtek will also receive
three of the five AIDA board seats for its undisclosed
investment. AIDA will use the funds to develop its
 technology platform, strategic initiatives, corporate
infrastructure, and staffing.
http://www.aidacorp.com/
http://www.newtekcapital.com/
_____________________________________________

o Nordex Acquired By Grading Information Site PowerSchool

FOLSOM, Calif. -- PowerSchool, which provides Web-based
grading information and educational tools to elementary
and secondary schools, said it is acquiring Nordex
International, which provides scheduling and other
school management systems. The financial terms of
the acquisition were not disclosed. PowerSchool
is backed by E. M. Warburg Pincus & Co., Group One,
and Snider Capital.
http://www.powerschool.com/
_____________________________________________

o Travel Site Away.com Acquires Adventuroustraveler.com

WASHINGTON -- Away.com, which provides online services
that allow users to research and discuss travel
and to book travel reservations, said it has acquired
Adventuroustraveler.com, a supplier of travel merchandise,
in an all- stock transaction. Financial terms of
the deal were not disclosed. Adventuroustraveler.com
will function as the gear-merchandising division
of Away.com. Away.com is backed by Circle T. Partners,
Gannet Co., New World Ventures, the partners of
Gleacher & Co., Potomac Venture, Softbank Capital
Partners, and General Catalyst. Adventuroustraveler
was funded by Green Mountain Capital, Greenrange
Partners, and Split Rock Venture. Village Ventures
and its affiliate in Vermont also made an undisclosed
investment in both companies.
http://www.away.com/

======= New Directors =======

o PointOne Chairman Joins CaritaSoft Board of Directors

AUSTIN, Texas -- CaritaSoft, a provider of customer
management services for subscriber-based companies
in the cable and telephony industries, announced
the appointment of Richard H. Sorenson to its board
of directors. Mr. Sorenson is the chairman and former
CEO of PointOne Telecommunications. The company
is backed by Austin Ventures and individual investors.
http://www.caritasoft.com/
_____________________________________________

o OpenAvenue Names Xevo Founder to Board of Directors

ATLANTA -- OpenAvenue, a provider of collaborative
development portals, announced that Hal Chapel will
join the company's board of directors, bringing
the total to four members. Mr. Chapel is founder
and chairman of Xevo, an infrastructure technology
enabler for application service providers. OpenAvenue
is backed by CounterPoint Capital Management.
http://www.openavenue.com/
_____________________________________________

o Vividon CEO Ellenberger Joins Torrent's Board of Directors

CAMBRIDGE, Mass. -- Torrent Systems, a  provider
of services for analyzing massive volumes of clickstream
and transaction data, said it has named David J.
Ellenberger to the company's board of directors.
David Ellenberger is CEO of Vividon, a start-up
that enables high-quality video streaming on the
Web via specialized edge-based servers. Prior to
his current position, he was president of DataSage.
Other Torrent board members include Edward T. Anderson,
Managing general partner of North Bridge Ventures;
David Hathaway, managing general partner of Venrock
Associates; Edward F. Glassmeyer, founding general
partner of Oak Investment Partners; and Cary Johnson,
principal at Accelerant Executive Partners. Torrent
Systems has received financing from Intel, North
Bridge Venture Partners, Oak Investment Partners,
and Venrock.
http://www.torrent.com/
_____________________________________________

o Chairman and CEO of Accord Networks Joins MeetU's Board

WALTHAM, Mass. -- MeetU, a provider of technology
for Web meetings and instant messaging, said it
appointed Jules L. DeVigne to its board. Mr. DeVigne
is currently chairman and CEO of Accord Networks,
a manufacturer of a family of IP, ATM, and ISDN
visual and voice communications systems. MeetU.com
is backed by Concord Venture of Israel.
http://www.meetu.com/

======= New People =======

o ERM Firm RedCelsius Announces New Management Team

ALPHARETTA, Ga. -- RedCelsius, which produces e-commerce
and customer relationship management software, announced
its new management team. RedCelsius president James
J. Watson has been promoted to president and CEO,
replacing co-founder and former CEO Steve Kostyshen,
who is no longer with the company. Prior to joining
the company, Mr. Watson was vice president of worldwide
client development at CFN, a Web-based consumer
financial services company. Kenneth D. Barwick is
the company's first COO and formerly held a director
position at Deloitte Consulting. William A. Fielder
III is CFO, replacing Mike Casey, who is no longer
with the company. Mr. Fielder formerly served as
vice president and CFO at Eltrax Systems, a full-service
ASP. Lisa Campbell was promoted from vice president
of marketing to senior vice president of marketing
and development. RedCelsius is backed by Celtic
House, Blue Water Capital, and First Union Capital
Partners.
http://www.redcelsius.com/
_____________________________________________

o Media Industry Tech Startup MediaOcean Names President

ATLANTA -- MediaOcean, a provider of collaborative
business tools for media industry buyers and sellers,
set to launch in February 2001, said it named Ray
Heacox as president. Mr. Heacox is former president
and general manager of KNBC-TV in Los Angeles. Eric
Hinkle, formerly president and COO of Radiant Systems,
was recently named MediaOcean's chief execuitve
officer. The company is funded by NeoCarta Ventures,
Mellon Ventures, Gray Ventures, and iXL Ventures.
http://www.mediaocean.com/
_____________________________________________

o Gem and Jewelry B2B Marketplace GemKey Announces New CEO

NEW YORK -- GemKey, a provider of e-commerce technology
to the jewelry and gem industry, announced that
Dennis G. Dracup was appointed chief executive officer,
replacing Michael Cunningham who will become president
and COO. Mr. Dracup formerly served as president
of Pitney Bowes Software Solutions. GemKey is backed
by Highland Capital Partners and Audax Ventures.
http://www.gemkey.com/
_____________________________________________

o Net Audience Measurement Firm MeasureCast Names New CEO

PORTLAND, Ore. -- MeasureCast, a company which provides
streaming audience measurement services for Internet
broadcasters and advertisers, said it named Edward
T. Hardy as chief executive officer. Mr. Hardy replaces
Randy Hill, MeasureCast's founder, who will become
chief technology officer. Mr. Hardy was previously
a mergers and acquisitions consultant, working closely
with Citadel Communications.  He has also served
as vice president and general manager of several
U.S. radio stations. MeasureCast is backed by FBR
CoMotion Venture Capital.
http://www.measurecast.com/
_____________________________________________

o Vehicle Dealership Tech Company Ocentrix Names New CEO

SEATTLE -- Ocentrix, a company that develops software
and technology for the vehicle dealership industry,
said it named John Miksa as chief executive officer.
 Mr. Miksa was most recently a vice president for
Rackspace Managed Hosting, an Internet infrastructure
start-up.  He has also held various management positions
at General Electric. Mr. Miksa replaces Alan Higginson
who will now become co-chairman of the board. Ocentrix
is backed by Colliers International, Meisenbach
Capital Management, and Dorsey & Whitney.
http://www.ocentrix.com/
_____________________________________________

o Wireless Platform Firm Zeus Wireless Has New Top Executive

COLUMBIA, Md. -- Zeus Wireless, which provides platforms
enabling wireless data networks services, said it
named David Micek as its new president and CEO.
Mr. Micek served as chief executive officer of iKnowledge
and as vice president and general manager of the
enterprise software division of Texas Instruments.
He also worked as vice president of marketing for
Neuron Data, general manager of a software product
line for Borland, and a production manager with
Ashton-Tate. Mr. Micek succeeds former president
and CEO Tuck Newport, who remains with the company.
Zeus Wireless is backed by ComVentures, Crescendo
Ventures, DynaFund Ventures, and Excelsior Private
Equity Fund II.
http://www.zeuswireless.com/
_____________________________________________

o eRisks Appoints Ex-Bank of America Executive as President

NEW YORK -- eRisks, which provides enterprise risk
management services, said it named Kerry Williams
as president. Mr. Williams comes to the company
after previously serving as the senior vice president
and general manager at Integrated eCommerce and
also working at Bank of America. Backers for eRisks
include aventic, Risk Management Solutions, Katalyst
Venture Partners, and Internet Finance.
http://www.erisks.com/

======= VC Fund News =======

o Cardinal Venture Creates $75 Million Wireless Fund

SEATTLE -- Cardinal Venture Capital, which invests
in early-stage technology companies formed by new
entreprenuers, said it has created a new $75 million
fund which will specialize in wireless communications,
Internet infrastructure, and broadband products
and services. Cardinal Venture Capital says it typically
invests between $500,000 and $2 million in each
company.
http://www.cardinalvc.com/

======= VC Personnel =======

o Infinity Capital Names New Managing Director and Advisor

PALO ALTO, Calif. -- Infinity Capital, an early
stage fund focused on Internet and e-commerce infrastructure,
software, and communication companies, said it has
named John Hershey as a managing director. Mr. Hershey
will focus on Internet infrastructure and software
investments. Mr. Hershey was managing director at
Banc of America Securities, where he ran the Internet
investment banking group. The company also said
Dan Eitingon was added as a venture advisor. Mr.
Eitingon was president of the global support services
group at Visa International.
http://www.infinityllc.com/

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