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VentureWire Alert <http://alert.venturewire.com<; For Jeffrey Dasovich, Enron
VENTURE MARKET SUMMARY It wasn't as big a day funding wise compared to yesterday's $300 million windfall, but eight companies still managed to pull in a respectable $186 million. The big fundings went to three companies, all in the fourth round. Chorum Technologies, a provider of all-optical processors and subsystems for optical networks, raised $54.7 million in its fourth round of funding led by previous investors CenterPoint Ventures, InterWest Partners, Sevin Rosen Funds, and Scudder-Kemper Investments. Four was also a lucky number for Encorp, a provider of products and services for the power-technology sector, that closed $38.1 million in Series D financing led by new investor Ballentine Capital Partners. Meanwhile 2Wire, a developer of products that provide broadband content and services throughout the home, announced that it closed its fourth round of funding at $61 million that VentureWire first reported in August. Napster is also back in the news as it tries to change its tune. The embattled online song-swapping service, cut 16 employees, approximately 15% of its staff, in an effort to strengthen resources in other areas as it prepares for the launch of its new membership-based service. The layoffs mainly affected the customer service, business development departments, and administration areas and leave the company with a staff of 88. - By John Fuller <mailto:fuller@technologicp.com< The complete text of the stories below, as well as 10 additional venture-capital and private-company stories, are available today exclusively to subscribers to our new, premium service, VentureWire Professional. Find out more. <http://professional.venturewire.com/m2_professional.asp< EXECUTIVE SUMMIT The Fairmont San Jose, CA November 6, 2001 Executive Summit <http://events.venturewire.com/summit/<;Roger B. McNamee General Partner Integral Capital Partners If not the most widely known technology investor, Roger is undoubtedly the most widely quoted. He has been managing large portfolios of public and private technology companies for more than decade, and his well-turned observations often appear in the national business press as well as on Wall $treet Week with Louis Rukeyser, CNN, CNNfn, and CNBC. At Integral, which currently has assets under management of $1 billion, Roger has led venture investments in a variety of companies, including Agile Software, Brio, Cerent, Extreme Networks, Flextronics, GoTo.com, Healtheon, Homestore.com, Informatica, Inktomi, Intuit, MapInfo, Pivotal, Rambus, Think Systems (now part of i2 Technologies), and Visio. And on November 6th, he'll be sharing his perpsective on what companies are going to get funded and why. Register today for one of the remaining places. <http://events.venturewire.com/summitEvent.asp<; your account <http://alert.venturewire.com/account.asp<; * Change your e-mail address * Thoughts, suggestions, commentary * Cancel your account * This newsletter was mailed to you at: jdasovic@ENRON.COM contact * Send news items to: editor@venturewire.com <mailto:editor@venturewire.com< * Send questions, complaints, or service queries to: help@venturewire.com <mailto:help@venturewire.com< * Send advertising inquiries to: advertise@venturewire.com <mailto:advertise@venturewire.com< Rethink, Rebuild, Rebound This is the worst downturn ever to hit Silicon Valley, but it's hardly the first. So VentureWire is convening a summit conference of CEOs, COOs, CFOs, and others who've lead venture-backed companies through such times before. We've chosen them for their years of experience and for their ability to share it as coaches, mentors, board members, and friends. Join us for an intense day of guidance an inspiration from those who've been through boom and bust and boom again. Managing in the Downturn: Survival Strategies for 2002 A VentureWire Executive Summit Fairmont Hotel, San Jose November 6, 2001 http://events.venturewire.com/summit/default.asp <http://venturewire.com/ads/ad.asp?id=1448<; advertise <http://alert.venturewire.com/adv.asp<; tell a friend <http://venturewire.gazooba.com/cid1201/tellafriend.html<; VENTUREWIRE INDEX <http://venturewire.com/index.asp<; VentureWire Index <http://venturewire.com/index.asp<; 495.1 -0.18% NOTABLE DEALS Optical Processor Firm Chorum Lands $54.7M Round Four mail <http://alert.venturewire.com/o_mailer.asp?sid=NIQLONQMII< RICHARDSON, TEXAS -- Chorum Technologies, a provider of all-optical processors and subsystems for optical networks, said it raised $54.7 million in its fourth round of funding. [more.. <http://professional.venturewire.com/prostory.asp<;] <http://www.chorumtech.com<; Napster Cuts 15% of Staff, Prepares for New Service mail <http://alert.venturewire.com/o_mailer.asp?sid=NIIHKIQMII< REDWOOD CITY, CALIF. -- Napster, the embattled online song-swapping service, has cut 16 employees, approximately 15% of its staff, in an effort to strengthen resources in other areas as it prepares for the launch of its new membership-based service, the company said in a written statement. [more.. <http://professional.venturewire.com/prostory.asp<;] <http://www.napster.com<; Encorp Closes $38.1 Million Series D, Names New CEO mail <http://alert.venturewire.com/o_mailer.asp?sid=QLPMJQPMII< WINDSOR, COLO. -- Encorp, a provider of products and services for the power-technology sector, has closed $38.1 million in Series D financing and appointed Dennis Orwig as chief executive officer. [more.. <http://professional.venturewire.com/prostory.asp<;] <http://www.encorp.com<; Bigstep Lays Off A Third of Staff mail <http://alert.venturewire.com/o_mailer.asp?sid=IJMKMNPMII< SAN FRANCISCO -- Bigstep, which provides small businesses with electronic business services, has laid off 25 employees, according to CEO Lucy Reid. [more.. <http://professional.venturewire.com/prostory.asp<;] <http://www.bigstep.com<; Home Networking Firm 2Wire Closes Fourth Round with $61M mail <http://alert.venturewire.com/o_mailer.asp?sid=QPHMLJPMII< SAN JOSE, CALIF. -- 2Wire, a developer of products that provide broadband content and services throughout the home, said it closed its fourth round of funding at $61 million. VentureWire first reported the round in August. [more.. <http://professional.venturewire.com/prostory.asp<;] <http://www.2wire.com<; Semiconductor Systems Firm Hypernex Gets $2M Series A mail <http://alert.venturewire.com/o_mailer.asp?sid=QNKOIMPMII< STATE COLLEGE, PA. -- Hypernex, a provider of inspection software and systems for the semiconductor market, said it closed a Series A round of financing with just under $2 million. [more.. <http://professional.venturewire.com/prostory.asp<;] <http://www.hypernexinc.com<; Healthcare Outlook: Biotechnology Pharmaceuticals: development, delivery and distribution Tremendous competition exists to find the new technology that will identify new drug targets. Bioinformatics companies that can bring precision to the R&D process, but yet, may never be profitable. An expensive and pitfall ridden drug approval process. A complex business landscape created by the mergers of giant, multinational pharmaceutical companies and upstart biotech ventures. In the span of one day Healthcare Outlook will address these issues and look at the business plans of 50 private companies that promise to innovate an industry. Industry executives, leading academics and venture capitalists will meet to lend perspective and point out opportunities along the complicated life cycle of developing a drug. Register today: http://www.healthcareoutlook.com/register.asp <http://venturewire.com/ads/ad.asp?id=1449<; FreeRein Lays Off Most of Staff, Looks for Buyers and Funds mail <http://alert.venturewire.com/o_mailer.asp?sid=MJHJNHQMII< BELLEVUE, WASH. -- FreeRein, a developer of platforms that provide enterprise applications and services, has laid off all but six of its 31 remaining employees, according to CEO Bruce Gilpin. [more.. <http://professional.venturewire.com/prostory.asp<;] <http://www.freerein.com<; RadioWave.com in Talks to be Acquired, May Lay Off 25 mail <http://alert.venturewire.com/o_mailer.asp?sid=IPNQPOPMII< CHICAGO -- RadioWave.com, which provides a Web-based, interactive audio player, has warned 25 of its 28 employees of possible layoffs with severance in two weeks. [more.. <http://professional.venturewire.com/prostory.asp<;] <http://www.radiowave.com<; Tropic Networks Releases 19% of Staff to Save Cash mail <http://alert.venturewire.com/o_mailer.asp?sid=MJHKLOQMII< OTTAWA -- Tropic Networks, which develops optical packet networking systems, released 35 people, or 19% of its total staff in an across-the-board cost-cutting move, according to a company spokesperson. [more.. <http://professional.venturewire.com/prostory.asp<;] <http://www.tropicnetworks.com<; E-mail Management Software Firm Postini Buys Neomeo mail <http://alert.venturewire.com/o_mailer.asp?sid=NMIKIKPMII< REDWOOD CITY, CALIF. -- Postini, a provider of e-mail management software and services, said it has acquired San Francisco-based Neomeo, an enterprise software company that develops corporate e-mail services. Terms of the deal were not disclosed. [more.. <http://professional.venturewire.com/prostory.asp<;] <http://www.postini.com<; <http://www.neomeo.com<; Celiant Names Credit Suisse CEO John J. Mack to Board mail <http://alert.venturewire.com/o_mailer.asp?sid=HHQHLHPMII< WARREN, N.J. -- Celiant, a supplier of wireless power amplifiers, said Credit Suisse First Boston CEO, John J. Mack, has joined the company's board. [more.. <http://professional.venturewire.com/prostory.asp<;] <http://www.celiant.com<; Digital Anything, Networked Everything ... Even in the economic downturn, high-profile companies are directing investment and development focus on the technologies that are fueling the next wireless revolution. From traditional industries like semiconductors to new ones like telematics, the most promising 100 companies will present during our private equity platform at Pervasive Computing Outlook. Atheros, Rioport, and WhereNet are just a few of the companies to expect. Hear the business plans and pick the winners that are capitalizing on the rise of inexpensive intelligence at the edge of the Internet. Register today. Pervasive Computing Outlook December 4 & 5 at the San Francisco Airport Marriott http://www.pervasivecomputingoutlook.com/register.asp <http://venturewire.com/ads/ad.asp?id=1450<; To cancel, change, or update your subscription: <http://alert.venturewire.com/account.asp<;
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