Just in case you were interested in what Guy Kawasaki is up to these days...
FOR IMMEDIATE RELEASE
Garage.com Receives $12 million Investment from E*TRADE, ATV, Mayfield
Fund, and Credit Suisse First Boston Technology Group
Web-based Firm Raises More Than $60 Million for 20 Technology Startups in 1999
PALO ALTO, Calif., September 13, 1999 -- Garage.com, a Web-based
early-stage venture financing firm, today announced it has successfully
completed a $12 million round of financing led by E*TRADE Group (NASDAQ:
EGRP) with additional investments from Advanced Technology Ventures,
Mayfield Fund, Credit Suisse First Boston Technology Group, and other
investors. Garage.com will use the funds to continue to expand its
operations from Silicon Valley, Boston, and Seattle into high tech centers
throughout the United States and around the world.
"The private equity market is experiencing explosive growth. Thousands of
talented entrepreneurs in garages around the world need seed capital to get
their companies up and running," said Guy Kawasaki, CEO of Garage.com.
"Garage.com successfully partners talented entrepreneurs with strategic
investors, helping them build great high tech companies. The additional
capital from E*TRADE and our other investors allows us to grow rapidly,
expand into high tech corridors around the world, and further reinforces
Garage.com's position as a leader in this market."
Garage.com, through its wholly-owned broker/dealer subsidiary, Garage.com
Securities, has helped 20 technology startup companies raise more than $60
million in seed capital since January 1, 1999. Among the recently funded
startups are iCopyright, Korobra, Tripwire Security Systems, Startups.com,
Virtualis, and WebOrder.
Garage.com Powers High Tech Startups
Garage.com uses the Web to match high-quality entrepreneurs with
experienced high tech venture investors. A network of leading professional
service firms including PricewaterhouseCoopers, ABD Services, Venture Law
Group, Silicon Valley Bank, and Heidrick & Struggles supports Garage.com
and its startups.
"Garage.com will provide E*TRADE with access to a steady stream of
high-quality startup investment opportunities," said Tom Bevilacqua,
E*TRADE's executive vice president of corporate development and strategic
investments. "E*TRADE will leverage Garage.com's proven ability to identify
emerging trends in technology and investment strategies, and together we
will work to create new services for our customers."
About Garage.com
Garage.com offers entrepreneurs and investors an innovative, Web-based
approach to high tech and medical sciences venture financing and investing.
In conjunction with its broker/dealer affiliates, garage.com helps
entrepreneurs attract the high quality investors they need, and investors
find the outstanding startups they want to fund. Founding sponsors of
Garage.com include Venture Law Group, Advanced Technology Ventures,
PricewaterhouseCoopers, Microsoft, ABD Services, Credit Suisse First Boston
Technology Group, Heidrick & Struggles, and Silicon Valley Bank. Find out
more by visiting http://www.garage.com/inTheNews.shtml.
About E*TRADE
E*TRADE, a global leader in online personal financial services, has emerged
as the world's most-visited online investing site. The content-rich
destination E*TRADE Web site offers value-added investing and research
features, premium customer service, and a fully redundant, proprietary
Stateless Architecture(SM) infrastructure. E*TRADE intends to expand its
global positioning by launching branded Web sites in the top 20 financial
markets worldwide. E*TRADE Securities Inc. (Member NASD/SIPC), and its
parent company, E*TRADE Group Inc., are headquartered in Menlo Park, Calif.
About Advanced Technology Ventures
Advanced Technology Ventures is a leading bi-coastal venture capital firm
focusing on opportunities in information technology and health care. ATV's
management experience, technology expertise, global network of industry
contacts, and collaborative style has helped more than 100 companies
navigate from inception to IPO and beyond. With more than $300 million
currently under management, ATV's investment philosophy centers on
collaborative, active participation with the management teams of its
portfolio companies. For more information, visit http://www.atvcapital.com.
About Mayfield Fund
Mayfield Fund is a private venture capital partnership based in Menlo Park,
California. Since Mayfield's founding in 1969, the firm has invested in
more than 300 companies and has taken approximately 85 companies public.
Today, these Mayfield-backed companies represent an aggregate market value
of more than $100 billion. A partial list of Mayfield's portfolio companies
include: BroadVision, Inc; Citrix Systems; Compaq Computers; Legato
Systems, Inc.; Millennium Pharmaceuticals; Redback Networks; and Third
Voice, Inc. Find out more by visiting http://www.mayfield.com/.
About Credit Suisse First Boston
Credit Suisse First Boston is a leading global investment banking firm,
providing comprehensive financial advisory, capital raising, sales and
trading, and financial products for users and suppliers of capital around
the world. It operates in over 60 offices across more than 30 countries and
has over 14,000 employees. For the year ended December 31, 1998, CSFB had
$6.7 billion in revenues, $7.1 billion in equity, and $291 billion in
assets. The Firm is a wholly-owned subsidiary of the Zurich-based Credit
Suisse Group.
Contact:
Geoff Baum
Garage.com
650-470-0950
press@garage.com
