SEATTLE--(BUSINESS WIRE)--Nov. 30, 1999-- xSides(TM), an industry pioneer in technology development and design, announced today the completion of a second round of funding and support from strategic investors in Internet and broadband telecommunications sectors.
The $15 million Series B Round includes financing from the founders of Broadcom Corporation -- Henry T. Nicholas III, Ph.D., Broadcom's president, CEO and co-chairman, and Henry Samueli, Ph.D., co-chairman and chief technical officer of Broadcom. Also participating in xSides Series B Round were Amerindo Investment Advisors Inc., Hikari Tsushin Inc., and Rader Reinfrank & Co. LLC. xSides also named Nicholas to its Board of Directors.
``This round of financing allows xSides to continue focusing on developing its inventive, patent-pending technology that brings Internet applications and services directly to the desktop, independent of the Microsoft Windows operating system. Proceeds from the current round will be used to fund ongoing operations, recruiting, development and product rollout,'' said Bob Steinberg, chairman and CEO of xSides Corporation.
``xSides has pioneered a new way of persistently displaying applications and services on the PC that is directly applicable to the delivery of bandwidth-hungry Internet appliances,'' Broadcom's Nicholas said. ``I see tremendous potential for the xSides technology to help entice users to move from today's relatively slow and traditional phone lines up the broadband curve to DSL and cable.''
``This is an exciting period for xSides. We're gaining significant support for our efforts in the market for consumer and enterprise Internet-based applications,'' Steinberg said. ``Our investors bring a unique blend of technology expertise that maps perfectly to the company's direction. xSides is in a unique position to deliver both new consumer experiences to the desktop and to exploit new Internet business models that have been previously untapped.''
The xSides Technology
The xSides technology delivers applications through a persistent miniature portal window on the desktop that exists outside and independent of the desktop operating system. It organizes consumers' Internet applications through persistent presence on the screen. xSides delivers customized e-mail, news, weather, stock information, city guides and other valuable content directly to consumers through partnerships with companies such as WorldPages.com. For more information concerning xSides technology and potential consumer and enterprise applications visit www.xSides.com.
xSides, formerly The Pixel Company, was established in 1998 by a core group of entrepreneurs who sought to expand the real estate on the computer screen. xSides, a patent-pending technology, allows a personal computer or operating system-enabled TV to securely deliver and display interactive content, applications and graphics unobscured by and outside of the traditional Microsoft® Windows(TM) display area. Internet content and services in the xSides area of the screen are always visible, always accessible, always customizable.
About Amerindo Investment Advisors Inc.
Amerindo Investment Advisors Inc., founded in 1979, manages more than $2.5 billion in emerging growth stocks for institutional clients. Primarily an investor in the public markets, Amerindo portfolio companies include Amazon.com (Nasdaq:AMZN - news), @Home (Nasdaq:ATHM - news), eBay (Nasdaq:EBAY - news) and Inktomi (Nasdaq:INKT - news). For more information, please visit www.amerindo.com.
About Hikari Tsushin Inc.
Hikari Tsushin Inc. is a leading marketer, reseller and distributor of telecommunications services in Japan. Founded in 1988, Hikari works with long-distance carriers, cellular operators and Internet service providers to promote competition and consumer choice in the Japanese market. The company serves more than 2 million cellular subscribers through wholesale channels and 1,200 retail outlets. Hikari's Internet business is the fastest-growing ISP in Japan.
About Rader Reinfrank & Co. LLC
Rader Reinfrank & Co. LLC manages a $100 million private equity fund focusing on growth investments in communications, media and Internet-related companies. Previous investments by the fund include OneTel Ltd., an Australian wireless and wireline telecom provider (ASX:ONE), Multex.com Inc., a leading on-line distributor of financial information and investment research (Nasdaq:MLTX - news), OneSoft Corporation, an e-commerce software and services provider, TelePacific Communications, an integrated communications provider, Yipinet LLC, an online continuing education provider, Trillium Digital Systems, a communications software provider, and CoSine Communications, a managed IP platform provider.
xSides is a trademark of xSides. Other product and company names herein may be trademarks of their respective owners.
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