?	
?	'VentureWire'
	Friday, November 17, 2000	?
?	CONTENTS | COMPANIES | INVESTORS	?
?	
	
	
	top stories
	
	* Troubled E-Government Site govWorks Cuts Staff
	* Whitney & Co. To Raise a $2.5 Billion Global Fund
	* eHitex Names Former Internet Capital Group Exec as CEO
	* PlanetOut Agrees to Merge with Gay.com Parent Company 
	
	
	
	A HUNDRED THINGS YOU HAVE NOT DREAMED OF
	
	Technology Outlook 2000 will bring together the CEOs of
	100 of the most exciting start-ups developing pervasive
	and mobile-computing technologies.  Tracks include:
	
	Consumer Devices, Consumer Software, Electronic Books,
	Enabling Technology, Home Networking, Internet Appliances,
	Mobile Commerce, Access Technology, Mobile Services,
	Communication Solutions, Video Solutions, Distributed
	Computing, Systems Software, Location-Based Services,
	Voice Portals, and Telephony
	
	Only a handful of tickets remain for this unique event
	Technology Outlook 2000: The Future of Pervasive Computing
	December 4 and 5, San Franciscohttp://technologicpartners.com/tp/conf/to2000/
	
	
	
	new money
	
	* Net Software Firm Tridium Raises $20 Million in First Round
	* Symmorphix, Optical Components Developer, Raises $25 Million
	* Encore Software Raises First Round with $7.5 Million
	* Intellectual Asset Firm PitchWare Closes Series A
	* Market Forcaster Opion Launches with $6.5 Million Series A
	* Tech Business Development Firm Raises $1 Million First Round
	* Tech Expertise Firm HotDispatch Gets $18 Million Round Two
	* Financial Info Streaming Media Firm RAW Lands $27 Million
	* Food Distributor Platform Gets $29 Million C Round, New Name
	* HR Net Services Firm Workscape Lands $45 Million Series E
	* LegalMatch Exchanges Equity with American Lawyer Media
	* Mobile Apps Firm The Brodia Group Secures $30 Million 
	* Payment Technology Firm Veristar Gets $7.7 Million Series C 
	* Motorola Invests in Shortwave Wireless Company Aura  
	* Networking Firm OmniCluster Technologies Secures $6 Million 
	* Online Tech Trainer Simulus Secures Funding from GE Capital
	
	
	bad news
	
	* Struggling Online Beauty Firm BeautyJungle Shuts Down 
	* TheStreet.com Drops Venture-backed U.K. Venture
	* GiftCertificates.com Pulls IPO, Gets $13 Million Debt Funds
	
	
	new products
	
	* E-Payment Firm for ASPs, Engyro, Launches
	* Auto Industry Content Firm AutoMedia.com Launches Site
	
	
	new deals
	
	* J.D. Edwards Takes Stake in Supply & Demand Apps Firm Atlas 
	
	
	m&a
	
	* Intuit Buys Net HR Firm EmployeeMatters For $39 Million
	* Automotive Software Tech Firm Wrenchead Acquires Profit Pro
	* Broadband Sports Acquires Extreme Sports Site Action Sports 
	* DirectStuff.com Acquires Two Coupon Sites Back from Save.com
	* Event Firm ComLinx Acquired by Developer Archer Systems
	* Software Developer TCS Acquires Wireless Firm Xypoint
	
	
	new directors
	
	* Services Firm Asera Adds Kleiner Perkins Partner to Board
	* E-Learning Firm Tcert Names Egon Zehnder Exec to Board
	* ReceiptCity Taps Crosspoint Partner for Board
	
	
	new people
	
	* Ex-Head of Lucent Spinoff Named Pres, CEO of StorageWay
	* Bandwidth Exchange Band-X Names Cable & Wireless Exec CEO
	* Campus Pipeline Appoints Ex-Ameritrade Head to CEO
	* E-Health Firm NaviMedix Names Former Kinetra Exec as CEO 
	* Marketer MyDrugRep Appoints Sales Exec as First President
	* Streaming Media Firm Aerocast Announces CEO, Board Members
	
	
	vc fund news
	
	* Japan's Netyear Group to Start VC Arm and Raise Fund 
	* Dresdner Kleinwort Benson Launches $125 Million Japan Fund
	* Emit Capital Takes Stake in Turkish Incubator incubaTR
	
	
	vc personnel
	
	* Eastman Kodak Company Names Two to Venture Capital Team
	
	
	vw corrections
	
	* GreenOrder
	
	
	TOP STORIES... NEW MONEY... BAD NEWS... NEW PRODUCTS... NEW DEALS... M&A... 
NEW DIRECTORS... NEW PEOPLE... VC FUND NEWS... VC PERSONNEL... VW CORRECTIONS
	
	
	
	
	
	
	The elite of the burgeoning optical communications industry
	will be in one place, under one roof Feb 11-14:
	Optix2001 in Pasadena, CA.
	
	This unusual event combines leaders in academia and business
	exchanging the latest on trends, recent developments, and
	the future of optical technology. If you are a player in the
	field, this is a special opportunity to learn from the
	world's experts.
	
	The brightest corporate stars such as Don Smith, President
	of Nortel are joined by renowned academics such as
	Kerry J. Vahala, Professor of Applied Physics at Cal Tech,
	to provide a breadth of knowledge and insider perspective
	unique to the industry.
	
	Participation at this event is subject to approval and is
	limited to senior executives involved in the optical
	communications industry. For your registration pack link 
to:http://www.optix2001.com/optix_reg.html
	
	
	top stories
	?
	Troubled E-Government Site govWorks Cuts Staff
	?	?	NEW YORK (VENTUREWIRE) -- According to a source close to the company, ?govWorks, a provider of Internet services that facilitate interactions ?between government agencies, citizens, and businesses, has laid off ?approximately 70 people, leaving the company with 50 employees, and may shut ?down by month's end. The source also said the firm is looking for a buyer. ?govWorks vice president of marketing David Camp confirmed the reduction in ?staff but would not specify the number of lay-offs. Mr. Camp said the cuts ?came as part of company restructuring, and that govWorks would now focus on ?its e-government software and transaction services. Of the search for a ?buyer, he said only that the company is continuing "to pursue all strategic ?opportunities." govWorks has struggled since last spring when it first began ?reducing its 270-person staff. Though govWorks has announced contracts with a ?number of municipal! clients, the deals have not brought the firm to ?profitability. govWorks Latin America, a joint venture between majority-owner ?govWorks and Argentine firm Consultora Tecnologica, was unaffected by the ?cuts and continues with a staff of 30, according to Julian Herbstein, ?president of govWorks International. govWorks Latin America, which launched ?in June, had hoped to raise some $15 million but has not received funding to ?date. Mr. Herbstein called the subsidiary self-sufficient and said that ?should govWorks close, govWorks Latin America might remain in business. In ?April, govWorks received funding from the Mayfield Fund, Kohlberg Kravis ?Roberts, American Management Systems, the Safra Group, Hearst Corp., Global ?Bridge Ventures, and Metropolis Ventures.?	http://www.govworks.com?	?	Whitney & Co. To Raise a $2.5 Billion Global Fund?	
	
	NEW YORK (VENTUREWIRE) -- Whitney & Co. said it is planning to raise a $2.5 
billion global fund next year, which will include an allocation for Japan. 
The venture capital firm, which has offices in New York, Boston, San 
Francisco, London, Tokyo, Hong Kong, and Singapore, started to invest outside 
of the U.S. 2 years ago.
	http://www.whitney.com
	
	eHitex Names Former Internet Capital Group Exec as CEO
	?	?	SUNNYVALE, Calif. (VENTUREWIRE) -- eHitex, a high-tech marketplace, said it ?appointed Robert Lewis as chief executive officer. Mr. Lewis was managing ?director of operations at Internet Capital Group and replaces interim co-CEOs ?Keith Melbourne and Wendy Caswell. Both will remain with the company, Mr. ?Melbourne as vice president of worldwide sales and marketing, and Ms. Caswell ?as vice president of strategy and corporate development. eHitex is funded by ?Agilent Technologies, AMD, Canon, Compaq, Gateway, Hitachi, Hewlett-Packard, ?NEC, Quantum, Samsung Electronics, SCI Systems, Solectron, Synnex, Tatung, ?and Western Digital.?	http://www.ehitex.com?	?	PlanetOut Agrees to Merge with Gay.com Parent Company ?	
	
	SAN FRANCISCO (VENTUREWIRE) -- PlanetOut, an online media company that serves 
the gay and lesbian community, said it agreed to merge with Online Partners, 
the parent company of online gay and lesbian resource Gay.com. The new 
company will take the name PlanetOut Partners and be headquartered in San 
Francisco. Financial details of the merger were not disclosed. PlanetOut said 
that it may have to lay off a small number of workers, and would make a 
further announcement in about two weeks. Online Partners chief executive 
officer Lowell Selvin will be the CEO of PlanetOut Partners. PlanetOut chief 
executive officer Megan Smith will be the president of the new company. The 
board of directors of PlanetOut Partners will include Mr. Selvin and Ms. 
Smith as well as Flatiron Partners managing partner Jerry Colonna, Mayfield 
Fund partner Alan Morgan, and Ron Peele, vice president of America Online 
Investments. G! ay.com acquired Gaywire News Network earlier this year and 
holds equity in the Gay Financial Network and Italian gay and lesbian portal 
Gay.it. PlanetOut acquired gay-themed Liberation Publications earlier this 
year. Gay.com is backed by Baroda Ventures, Chase Capital Partners, Chase 
Capital Partners Europe, Flatiron Partners, IDG Ventures, Jesse.Hansen.coVe., 
and Macluan Digital Partners. PlanetOut is backed by Allen & Co., America 
Online Investments, BMG Entertainment, Creative Artists Agency, Eden Capital, 
EDventure Holdings, Mayfield Fund, and individual investors.
	http://www.gay.com
	http://www.planetout.com
	
	new money
	?
	Net Software Firm Tridium Raises $20 Million in First Round
	?	?	RICHMOND, Va. (VENTUREWIRE) -- Tridium, a provider of Web-enabled, automation ?software infrastructure, said it closed a $20 million first round of funding. ?kRoad Ventures and Enron North America each contributed $10 million. The ?company said it will use the funds to increase sales and technical support ?offices in North America, expand its operations into Europe and Asia, and ?enhance its technology and products. Tridium develops and markets Niagara ?Framework, a software infrastructure that allows companies to build software ?applications for accessing, automating, and controlling smart devices in ?real-time over the Internet. A representative from kRoad and Enron will each ?join the company's board of directors.   ?	http://www.tridium.com?	?	Symmorphix, Optical Components Developer, Raises $25 Million?	
	
	SUNNYVALE, Calif. (VENTUREWIRE) -- Symmorphix, a developer of optical 
networking distribution amplification components, said it raised $25 million 
in its first round of funding. The round included investments from Crescendo 
Ventures and Battery Ventures as well as previous individual investors from 
the company's seed round. The company said it will use the financing to 
develop products for all-optical networks. 
	http://www.symmorphix.com
	
	Encore Software Raises First Round with $7.5 Million
	?	?	GARDENA, Calif.  (VENTUREWIRE) -- Encore Software, which publishes ?entertainment and education software, said it raised $7.5 million in its ?first round of funding from sole participant Raymond James Capital Partners. ?The company will use the funding for general growth, launching its console ?strategy, and expanding its Internet division. Encore Software is also backed ?by individuals. ?	http://www.encoresoftware.com?	?	Intellectual Asset Firm PitchWare Closes Series A?	
	
	SAN JOSE, Calif. (VENTUREWIRE) -- PitchWare, which makes an idea submission 
and database application for the venture and entertainment industries, said 
it has closed its Series A round of funding. The company is not disclosing 
the amount raised or the round participants, and said there will be no board 
changes as a result of the round. The company will use the funds for product 
development and to increase staff.    
	http://www.pitchware.com
	
	Market Forcaster Opion Launches with $6.5 Million Series A
	?	?	HERNDON, Va. (VENTUREWIRE) -- Opion, which provides real-time market ?information and forecasting services, said it launched with a $6.5 million ?Series A round of funding. New Enterprise Associates and Capital Investors ?Group led the round that included Avatar Capital Partners, Avansis Ventures, ?Science Applications International, and Schoffstall Ventures. The company ?will use the funding for further research and development as well as sales ?and marketing. The company was co-founded by Nick Arnett, who was most ?recently vice president of marketing for software firm Invisible Worlds, and ?by former Network Solutions senior vice president and CTO David Holtzman, who ?serves as Opion's chairman and CEO. Opion analyzes public Internet ?interactions to make market forecasts. ?	http://www.opion.com?	?	Tech Business Development Firm Raises $1 Million First Round?	
	
	SEATTLE (VENTUREWIRE) -- i5 Digital, a technology business development firm, 
said it received $1 million from Ackerley Ventures in a second round of 
financing. Chris Ackerley, co-president of Ackerley, will join i5 Digital's 
board as its tenth member.    
	http://www.i5digital.com
	
	Tech Expertise Firm HotDispatch Gets $18 Million Round Two
	?	?	MOUNTAIN VIEW, Calif. (VENTUREWIRE) -- HotDispatch, an online exchange for ?technical expertise, said it has raised $18 million in a second round of ?funding led by WorldCom Ventures. SAP Ventures, New Enterprise Associates and ?Accel Partners also contributed to the round. HotDispatch said it will use ?the funding to build its international sales and marketing capabilities. The ?company also said Steve Mooney of WorldCom took a seat on its board of ?directors.  ?	http://www.hotdispatch.com?	?	Financial Info Streaming Media Firm RAW Lands $27 Million?	
	
	LONDON (VENTUREWIRE) -- RAW Communications, a broadband media company that 
distributes financial messages from corporations and brokers to institutional 
and retail investors, said it completed a $27 million round of funding led by 
Providence Equity Partners. 3i Group, an existing investor, and Intel also 
participated. The company said it will use the funding to expand RAW's 
broadband media network and related production hubs. The company plans to 
expand further in the U.S. and Europe and to establish a foundation in Asia. 
A source close the company said a representative from Providence Equity will 
join RAW's board.
	http://www.rawcommunications.com
	
	Food Distributor Platform Gets $29 Million C Round, New Name
	?	?	SAN FRANCISCO (VENTUREWIRE) -- Restaurantpro, which has developed an ?application and hosting platform for restaurants and food distributors, said ?it has raised $29 million in its Series C round of financing led by Rembrandt ?Venture Partners. Deutsche Banc Alex Brown and Bank of America, among others, ?and Series B investors Caanan Partners, Commerce One Ventures, Boulder ?Ventures, Advent International, and Catamount Ventures also participated. The ?company also said it is changing its name to CriticalArc Technologies to ?reflect expansion into other areas of the food industry, but that ?Restaurantpro will remain the name of its flagship application. CriticalArc ?said it will use the funds for expansion. There will be no board changes as a ?result of the round.   ?	http://www.criticalarc.com?	?	HR Net Services Firm Workscape Lands $45 Million Series E?	
	
	RESTON, Va. (VENTUREWIRE) -- Workscape, a provider of Internet services for 
human resources and employee benefits administration, said it secured $45 
million in its Series E round of funding from DaimlerChrysler; America 
Online; Sun Microsystems; Coleman, Swenson, Hoffman, Booth; HLM Management 
Company; and previous investors E.M. Warburg, Pincus and ABS Capital 
Partners. Workscape recently launched Employee.com, an open technology 
platform which employees of large companies can use to update their benefits, 
get company news and information, collaborate with one another on projects, 
make purchases, and access entertainment options. DaimlerChrysler and General 
Motors will be the first users of this technology. Workscape has raised $110 
million to date.     
	http://www.workscape.com
	
	LegalMatch Exchanges Equity with American Lawyer Media
	?	?	NEW YORK (VENTUREWIRE) -- LegalMatch, a site that matches lawyers and ?clients, said American Lawyer Media took an equity stake in the startup in ?exchange for print ads in American Lawyer Media publications. The deal is ?part of LegalMatch's still-open Series B round of financing. LegalMatch said ?it will use Series B funds for national expansion of its service.    ?	http://www.legalmatch.com?	?	Mobile Apps Firm The Brodia Group Secures $30 Million ?	
	
	SAN FRANCISCO (VENTUREWIRE) -- The Brodia Group, which provides platform and 
applications to enable personal commerce, payments and identity management on 
mobile or network-connected devices, said it has secured $30 million from 
Morgan Stanley Dean Witter, MasterCard International, Draper Fisher Jurvetson 
ePlanet Ventures, Itochu, and Bank of Singapore Limited. The company's 
previous investors, Capital Z Partners and Draper Fisher Jurvetson, 
participated in the round.   
	http://www.brodia.com
	
	Payment Technology Firm Veristar Gets $7.7 Million Series C 
	?	?	BERKELEY, Calif. (VENTUREWIRE) -- Veristar, a provider of wireless and ?Internet-based biometric and electronic payment technology for retail point ?of sale, said it received $7.7 million in its Series C round of funding. ?Castle Creek Technology participated, as did undisclosed institutions and ?individuals. The company will use the funds for sales and marketing and to ?build its management team. ?	http://www.veristarcorp.com?	?	Motorola Invests in Shortwave Wireless Company Aura  ?	
	
	WILMINGTON, Mass. (VENTUREWIRE) -- Aura Communications, which develops 
technology for short-range wireless voice, audio and data communication, said 
it has secured an undisclosed amount of funding from Motorola Ventures, the 
strategic venture capital arm of the global communications company. Motorola 
made the investment as part of a strategic agreement to jointly expand the 
development and implementation of Aura's technology. Aura is developing 
wireless headsets for cellular phones.    
	http://www.auracomm.com
	
	Networking Firm OmniCluster Technologies Secures $6 Million 
	?	?	BOCA RATON, Fla. (VENTUREWIRE) -- OmniCluster Technologies, which is ?commercializing an IBM-developed network technology, said it has raised $6 ?million in a venture round led by HIG Capital. Crossbow Ventures also ?participated. The company said it will use the funding to build the network ?infrastructure, which is aimed at reducing the cost and complexity of ?installing, expanding, and maintaining PC networks and server environments.   ?	http://www.omnicluster.com?	?	Online Tech Trainer Simulus Secures Funding from GE Capital?	
	
	HOUSTON (VENTUREWIRE) -- Simulus, which provides Web-based technical skills 
training, said it has received an undisclosed equity investment from GE 
Capital's commercial equipment financing unit. Simulus' technology, which 
features interactive training simulation, is used by aviation, healthcare, 
energy and manufacturing industries.      
	http://www.simulus.com
	
	bad news
	?
	Struggling Online Beauty Firm BeautyJungle Shuts Down 
	?	?	CHICAGO (VENTUREWIRE) -- BeautyJungle.com, an online retailer of beauty ?products, said it shut down. The company cited time constraints and ?difficulties with the financial markets as reasons for its closure. ?BeautyJungle's Web site, which announced its closing and thanked its ?customers and employees, depicts its difficulties obtaining funding with a ?humorous cartoon. The company was trying to either raise a Series C round or ?be acquired. Earlier this month, the company cut approximately 60% of its ?staff. BeautyJungle's last funding was a $20 million Series B round raised ?late last year. In that round, $18 million came from troubled incubator ?Divine interVentures, which has had layoffs of its own recently. ?BeautyJungle.com was also backed by individual investors.?	http://www.beautyjungle.com?	?	TheStreet.com Drops Venture-backed U.K. Venture?	
	
	NEW YORK (VENTUREWIRE) -- TheStreet.com, a publicly-traded financial news and 
commentary organization, will shut down its U.K. venture as part of a larger 
restructuring. The firm is also cutting 20% of its workforce and ending a 
joint venture news room with the New York Times. The U.K. venture, 
TheStreet.co.uk, was established on February 15. TheStreet.co.uk is majority 
owned by TheStreet.com, and investors including Chase Capital Partners, 
Barclays Private Equity, Intel, ETF Group and 3i each hold minority stakes. 
The U.K. subsidiary was going to run out of money by December of this year 
according to reports from the company.
	http://www.thestreet.com
	
	GiftCertificates.com Pulls IPO, Gets $13 Million Debt Funds
	?	?	NEW YORK (VENTUREWIRE) -- GiftCertificates.com, an online marketplace for ?gift certificates to several stores, has withdrawn its IPO, citing ?unfavorable market conditions. The company said it raised $13 million in ?convertible debt financing. Previous investors Gotham Partners, Greenlight ?Capital, Mellon Ventures, SCP Private Equity Partners, Pilgrim Baxter Hybrid ?Partners, and Glencarron Investment provided the funds. This round of ?investment comes after the recent close of the company's Series J round with ?$50 million from Baron Private Equity, Hilal Capital Associates, and Triumph ?Partners, as well as the backers in the current debt round. The company said ?it will use the funds for brand marketing, sales, and to pursue strategic ?alliances.?	http://www.giftcertificates.com?	?	new products?	??	E-Payment Firm for ASPs, Engyro, Launches?	
	
	LAS VEGAS (VENTUREWIRE) -- Engyro, an Internet payment services firm for 
supply chain firms in the ASP market, announced it has launched. Engyro was 
incubated by Chell Merchant Capital Group, which owns a majority stake in the 
company. Engyro is presently seeking its first venture capital funding. The 
company has developed technology based on open architectured Java software 
and online analytical processing software.    
	http://www.engyro.com
	
	Auto Industry Content Firm AutoMedia.com Launches Site
	?	?	PASADENA, Calif. (VENTUREWIRE) -- AutoMedia.com said it launched its auto ?content site today. The site contains graphics, commentary, news, and other ?content relevant to the auto industry. AutoMedia received $2 million in its ?Series A round from Netcubator in March of this year.   ?	http://www.automedia.com?	?	new deals?	??	J.D. Edwards Takes Stake in Supply & Demand Apps Firm Atlas ?	
	
	MALVERNE, Pa. (VENTUREWIRE) -- Atlas Commerce, which develops Internet-based 
supply and demand and resource management applications for businesses, said 
J. D. Edwards, an Internet business consulting firm, has acquired a minority 
stake in the company. Atlas said there will be no board changes as a result. 
Atlas raised $35 million from Safeguard Scientifics in May of this year.    
	http://www.atlascommerce.com
	http://www.jdedwards.com
	
	m&a
	?
	Intuit Buys Net HR Firm EmployeeMatters For $39 Million
	?	?	MOUNTAIN VIEW, Calif. (VENTUREWIRE) -- Intuit, a publicly-traded company ?which provides consumers and small businesses with financial software and ?Web-based financial services, said it is acquiring EmployeeMatters, a ?provider of human resource management, benefits, and payroll services via the ?Internet, in a stock transaction valued at approximately $39 million. Elliot ?Cooperstone, EmployeeMatters' CEO will become a vice president at Intuit and ?will continue to lead the EmployeeMatters business unit. The majority of ?EmployeeMatters' current senior management team is expected to remain with ?Intuit. EmployeeMatters is fully-funded by Frontline Capital Group.  ?	http://www.intuit.com?	?	Automotive Software Tech Firm Wrenchead Acquires Profit Pro?	
	
	WHITE PLAINS, N.Y. (VENTUREWIRE) -- Wrenchead, which produces software 
technology for the automotive aftermarket, said it acquired Profit Pro, an 
automotive software, electronic parts cataloging, and e-commerce technology 
firm for an undisclosed amount. Wrenchead and Profit Pro have worked closely 
together for more than a year and have developed a suite of business-to- 
business e-commerce products for the aftermarket including Vision, Proficy, 
Wrenchead Pro, and Wrenchead.com. Profit Pro CEO Brad Duncan will become 
chief strategic officer of the new operation. Wrenchead is backed by Polaris 
Venture Partners, Goldman Sachs, WIT Capital, PaineWebber, CBS, and SFX 
Entertainment. Profit Pro is backed by Canopy Group.  
	http://www.profitpro.com
	http://www.wrencheadpro.com
	
	Broadband Sports Acquires Extreme Sports Site Action Sports 
	?	?	LOS ANGELES (VENTUREWIRE) -- Broadband Sports, a sports media company that ?produces and distributes sports content, said it acquired Action Sports ?Network, a Web page that features content on surfing, snowboarding, and ?skateboarding. Terms of the deal were undisclosed. Broadband Sports will ?combine its FreeStyleDirect division with Action Sports' three Web sites: ?surflink.com, snowboardlink.com, and skateboardlink.com, which will be ?available on freestyledirect.com. Broadband Sports plans to relaunch the site ?in 2001 to fully integrate the three Action Sports sites. Mark Bertignoli, ?founder and president of Action Sports, will remain with the company as ?Action Sports director. Broadband Sports is funded by Institutional Venture ?Partners, Sequoia Capital, and individuals including Michael Dell, founder of ?Dell Computer, and Frank J. Biondi Jr., the former CEO of Universal Studios.?	http://www.actionsportsnetwork.com?	http://www.broadbandsports.com?	?	DirectStuff.com Acquires Two Coupon Sites Back from Save.com?	
	
	PITTSBURGH (VENTUREWIRE) -- DirectStuff.com, an Internet direct marketing 
firm, said it plans to acquire MyCoupons and DirectCoupons back from 
Save.com, an online distributor of consumer packaged goods coupons for 
undisclosed amounts. DirectStuff.com sold the two sites to Save.com in a cash 
and marketing agreement valued at $23 million last May. MyCoupons is a 
consumer Web site that provides coupons and savings. DirectCoupons is a 
weekly email publication. DirectStuff.com is owned in part by Internet.com 
and is funded by the Internet.com Venture Fund. Save.com's primary investor 
is coupon firm Valassis Communications. 
	http://www.directcoupons.com
	http://www.directstuff.com
	http://www.mycoupons.com
	
	Event Firm ComLinx Acquired by Developer Archer Systems
	?	?	ISELIN, N.J. (VENTUREWIRE) -- ComLinx, a developer of Web-based corporate ?events applications, said it has been acquired by publicly traded Archer ?Systems, a business development firm, in an equity exchange. ComLinx's ?founder Eric Korb will remain president and CEO of the company, which will ?now function as a subsidiary of Archer Systems. Mr. Korb and Richard ?Margulies, CEO of Archer, will sit on a new board that is being formed. ?ComLinx raised $1.5 million from Spencer Trask and individual investors in ?December of last year.     ?	http://www.comlinx.com?	?	Software Developer TCS Acquires Wireless Firm Xypoint?	
	
	ANNAPOLIS, Md. (VENTUREWIRE) -- TeleCommunication Systems (TCS), a publicly 
traded software developer, said it signed a definitive agreement to acquire 
Xypoint, a developer of wireless location technology, for 4.3 million shares 
of TCS worth approximately $65.2 million. TCS develops software and services 
that allow telecommunication carrier customers to receive and transmit data 
messages wirelessly. Xypoint develops wireless location technology that 
enables carriers to locate mobile devices, protect privacy, and facilitate 
the delivery of messaging to the core of carrier networks.  After the 
acquisition Xypoint shareholders will own approximately 14% of TCS stock on a 
fully diluted basis. The transaction is expected to close in January. Xypoint 
CEO, Ken Arneson, will become senior vice president and chief strategy 
officer of TCS. Xypoint's headquarters will remain in Seattle. The company 
had rece! ived funding from lead investor Hillman Group as well as Amazon, 
Morgan Stanley Dean Witter, and TLcom.        
	http://www.telecomsys.com
	http://www.xypoint.com
	
	new directors
	?
	Services Firm Asera Adds Kleiner Perkins Partner to Board
	?	?	BELMONT, Calif. (VENTUREWIRE) -- Asera, which provides business services to ?Internet firms, said it added Ray Lane, general partner at Kleiner Perkins, ?to its board of directors. Mr. Lane was formerly president and chief ?operating officer at Oracle and joins board members Vinod Khosla, Asera ?co-founder and general partner at Kleiner Perkins; Warren Weiss, president ?and CEO of Asera; Janpieter Schreerder, president of Network Storage at Sun ?Microsystems; Pete Solvik, vice presiedent and CIO of Cisco Systems; Ernest ?von Simson and Naomi Seligman, co-founders of the Research Board, an analyst ?organization for information technology trends. Asera closed a $115 million ?Series C round of funding in August from Cisco Systems, Nortel Networks, SAP, ?Siemens, Kleiner Perkins, Bowman Capital, and others. ?	http://www.asera.com?	?	E-Learning Firm Tcert Names Egon Zehnder Exec to Board?	
	
	ATLANTA (VENTUREWIRE) -- Tcert, a creator of Web-based training systems, said 
it added John Takerer to its board of directors. Mr. Takerer is a consultant 
with Egon Zehnder International, an executive placement firm, and was 
formerly director of strategic planning and managing director of Europe for 
ECC International, a mineral engineering company. The company is funded by 
MOL.com Berhad and  is affiliated with Softbank, Japan, which has an 11.17% 
stake in the firm.
	http://www.tcert.com
	
	ReceiptCity Taps Crosspoint Partner for Board
	?	?	SAN JOSE, Calif. (VENTUREWIRE) -- ReceiptCity, a provider of digital receipt ?services to retailers, said it added Jim Dorrian to its board of directors. ?Mr. Dorrian is a general partner at Crosspoint Venture Partners, which was a ?lead investor in the company's $16.5 million Series B round. He was formerly ?co-founder, chairman, and chief executive officer at Arbor Software, a ?business analysis  software company. ReceiptCity has also received funding ?from Imperial Ventures.?	http://www.receiptcity.com?	?	new people?	??	Ex-Head of Lucent Spinoff Named Pres, CEO of StorageWay?	
	
	FREMONT, Calif. (VENTUREWIRE) -- StorageWay, a managed storage service 
utility for Internet-related businesses, said it has appointed J. Kim Fennel 
as its new president and CEO, replacing Peter Shambora, who will become 
chairman. Mr. Fennel, who has also taken a seat on StorageWay's board of 
directors, was most recently a vice president of enterprise communications 
applications at Lucent Technologies' spinoff, Avaya. StorageWay is backed by 
Matrix Partners, Montreux Equity Partners, Redpoint Ventures, and Worldview 
Technology Partners.    
	http://www.storageway.com
	
	Bandwidth Exchange Band-X Names Cable & Wireless Exec CEO
	?	?	NEW YORK (VENTUREWIRE) -- Band-X, an international bandwidth exchange, said ?it appointed Stephen Beynon to chief executive officer. Mr. Beynon is ?currently managing director of the data and business services division of ?Cable & Wireless Optus. Band-X launched an independent virtual market for ?international wholesale telecom capacity in 1997. The exchange provides four ?trading branches: networks, an online exchange for the trading of wholesale ?broadband networks; co-location, a specialist commercial property agency for ?the trading of international telehousing; switched, a facilities-based ?exchange for international voice traffic; and routed IP, an exchange for ?wholesale Internet traffic. Band-X is backed by its founders Goldman Sachs, ?Morgan Stanley Dean Witter, and Madison Dearborn Partners.   ?	http://www.band-x.com?	?	Campus Pipeline Appoints Ex-Ameritrade Head to CEO?	
	
	SALT LAKE CITY (VENTUREWIRE) -- Campus Pipeline, a higher education Internet 
technology provider, said it named Thomas K. Lewis Jr. as chief executive 
officer, replacing interim CEO Laurie Keating who will resume her position of 
executive vice president and general counsel. Mr. Lewis formerly served as 
chief executive officer of Ameritrade Holding. Campus Pipeline's Web 
platform, helps schools integrate campus communication, academic resources, 
administrative services, campus news, distance learning, and all other Web 
applications. The company's investors include American Express, Amerindo, 
Dell, General Motors, Hewlett-Packard, Inktomi, Lynx Technology, Meritech 
Capital Partners, National Discount Brokers, Oak Investment Partners, and 
SCT.      
	http://www.campuspipeline.com
	
	E-Health Firm NaviMedix Names Former Kinetra Exec as CEO 
	?	?	BOSTON (VENTUREWIRE) -- NaviMedix, a provider of Web applications that aim to ?streamline communication between physician offices and other healthcare ?organizations, said it appointed Tim Hargarten as president and chief ?executive officer, replacing founder William Cowen, who will serve as ?chairman. Mr. Hargarten was formerly founder and chief executive officer of ?Kinetra, which was acquired by Healtheon/WebMD. NaviMedix is funded by Atlas ?Venture Fund, North Bridge Venture Partners, GE Equity, Hearst Business ?Publishing, Coral Ventures, and Internet Healthcare Group.?	http://www.navimedix.com?	?	Marketer MyDrugRep Appoints Sales Exec as First President?	
	
	NEWPORT BEACH, Calif. (VENTUREWIRE) -- MyDrugRep, which operates a 
pharmaceutical marketing site on the Web that targets physicians, said it has 
named Doug Everson as the company's first president. Mr. Everson was most 
recently president and COO of Nelson Professional Sales, a contract sales 
firm. MyDrugRep raised $5 million in its Series A round of funding from 
Hummer Winblad Venture Partners in May of this year.   
	http://www.mydrugrep.com
	
	Streaming Media Firm Aerocast Announces CEO, Board Members
	?	?	SAN DIEGO, Calif. (VENTUREWIRE) -- Aerocast, a streaming media services firm, ?said Thomas Lynch will be acting president and CEO. Mr. Lynch is also vice ?president and general manager for Motorola's satellite and broadcast network ?unit. Mr. Lynch also sits on the board with Edward Breen, president of ?Motorola's broadband communications sector; Bob Scott, Motorola General ?Councel; John Orr, director of corporate development at Liberty Media; and ?Chris Sophinos, senior vice president of Liberty Satellite and Technology. ?The company announced on Wednesday that it  raised $15 million in its first ?round from Liberty Media and Motorola.   ?	http://www.aerocast.com?	?	vc fund news?	??	Japan's Netyear Group to Start VC Arm and Raise Fund ?	
	
	NEW YORK (VENTUREWIRE) -- Netyear Group, a consulting and incubation company 
for Internet businesses related to or started in Japan, said it plans to 
establish a venture capital arm and raise a fund next year with a focus on 
wireless business-to-business companies. No financial details were available. 
The company is headquartered in the Silicon Valley and has offices in New 
York and Tokyo. Together with NetAge, an incubation company in which Netyear 
holds an equity stake, Netyear Group formed the Bit Valley Association in 
February 1999 with the aim of energizing the startup community and 
encouraging entrepreneurship in Japan. Some of Netyear's most recent 
investments include Bizseek, Socioware, DealTime.com, and Gazooba.
	http://www.netyear.com
	
	Dresdner Kleinwort Benson Launches $125 Million Japan Fund
	?	?	TOKYO (VENTUREWIRE) -- The private equity division of Dresdner Kleinwort ?Benson (Asia) has launched a fund concentrating on Japanese technology ?startups. The Japan Technology Fund will hold approximately $125 million in ?capital and make initial investments of approximately $5 million. Dresdner ?Bank has invested $25 million in order to  launch of the fund. ?	http://www.dresdnerkb.com?	?	Emit Capital Takes Stake in Turkish Incubator incubaTR?	
	
	NEW YORK (VENTUREWIRE) -- incubaTR, a Turkish business incubator that focuses 
on regional technology and Internet startups, said it is partnering with Emit 
Capital, a provider of capital, resources, and consultation to early-stage 
technology and Internet companies. Emit Capital will take an equity stake in 
the company and will make direct investments in select companies being 
developed by incubaTR. incubaTR is a division of Superonline, an Internet 
service provider in Turkey. Emit Capital was formed in March.
	http://www.emitcapital.com
	
	vc personnel
	?
	Eastman Kodak Company Names Two to Venture Capital Team
	?	?	ROCHESTER, NY. (VENTUREWIRE) -- Eastman Kodak Company said it has hired two ?directors to serve on its venture capital team. Linda Glisson, who will serve ?as director of the venture division's Venture and Alliances group, joins ?Kodak from Glisson Capital, where she was a principal. William Cockayne, ?former chief technology officer and co-founder of Scout Electromedia, will ?serves as director of the venture division's Incubator Services. The two ?new-hires bring the number of employees in Kodak's venture division to ?nine.     ?	http://www.kodak.com?	?	vw corrections?	??	GreenOrder?	
	
	NEW YORK (VENTUREWIRE) -- An item in yesterday's Venture Wire about additions 
to GreenOrder's board misidentified the company's advisory board as its board 
of directors. The item also omitted the news that David J. Barram, former 
administrator of the General Services Administration and Deputy Secretary of 
Commerce, will join the board of directors in December. 
	http://www.greenorder.com
	
	company index
	?	?	Action Sports Network, Aerocast, Asera, Atlas Commerce, Aura Communications, ?AutoMedia.com, Band-X, Beautyjungle.com, Broadband Sports, Brodia, Campus ?Pipeline, ComLinx, DirectCoupons, DirectStuff.com, Eastman Kodak, eHitex, ?Emit Capital, Encore Software, Engyro, Gay.com, GiftCertificates.com, ?govWorks.com, GreenOrder, HotDispatch, i5 Digital, Intuit, J. D. Edwards & ?Company, LegalMatch, MyCoupons, MyDrugRep.com, NaviMedix, OmniCluster ?Technologies, Opion, PitchWare, PlanetOut, Profit Pro, RAW Communications, ?ReceiptCity.com, Restaurantpro.com, Simulus, StorageWay, Tcert, ?TeleCommunications Systems, TheStreet.com, Tridium, Veristar, Whitney & Co., ?Workscape, Wrenchead, Xypoint?	?	?	?	INFINITY IN THE PALM?	?	What Scotch is to tape, what Xerox is to photocopies, what?	Kleenex is to facial tissue, Palm is rapidly becoming to?	handheld computers. Come listen to the man responsible for?	a brand so successful it's getting stuck to his competitor's?	products. Carl Yankowski is the CEO of Palm Computing, and?	he's just one of six keynote speakers at Technology Outlook?	2000. You'll also hear from:?	* Michael Ramsay, CEO of TiVo?	* Henry Yuen, CEO of Gemstar-TV Guide International?	* Claude Leglise, VP, New Business Group & GM, Home?	Products Group, Intel?	* Michel Mayer, GM, Pervasive Computing, IBM?	* Larry Smarr, Professor, Department of Computer Science?	and Engineering, UC San Diego?	?	Technology Outlook 2000: The Future of Pervasive Computing?	December 4 and 5, San Franciscohttp://technologicpartners.com/tp/conf/to2000/?	?	?	investor index?	
	
	ABS Capital Partners, Accel Partners, Ackerley Group, Advent International, 
America Online, American Lawyer Media, Avansis Partners, Avatar Capital 
Partners, Bank of Singapore, Boulder Ventures, Canaan Partners, Capital 
Investors, Capital Z Partners, Catamount Ventures, Coleman Swenson Hoffman 
Booth, Commerce One Ventures, CrossBow Ventures, DaimlerChrysler, Deutsche 
Banc Alex. Brown, Draper Fisher Jurvetson, Draper Fisher Jurvetson ePlanet 
Ventures, ! E.M. Warburg, Pincus & Co., Enron, GE Capital, HIG Capital, HLM 
Management, Itochu Corp., kRoad Ventures, MasterCard International, Morgan 
Stanley Dean Witter Venture Partners, Motorola Ventures, New Enterprise 
Associates, New Enterprise Associates, Raymond James Capital, Rembrandt 
Venture Partners, SAP Ventures, Schoffstall Ventures, Science Applications 
International, Sun Microsystems, WorldCom Ventures
	
	
	
	
	
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