NORWALK, Conn. – The Financial Accounting Standards Board (FASB) made several decisions this summer, two that will please venture capitalists and one that will not (VCJ, June, page 5). The FASB in early September issued a draft proposal to do away with pooling, a method of accounting often used during mergers and acquisitions, leaving purchase […]
&When the founders of venture-backed home networking company Epigram Inc. first met with their eventual acquirer, high-speed broadband communications provider Broadcom Corp. late last year, Epigram was by no means soliciting a sale. Rather, the two companies approached each other rather guardedly. Viewing each other as potential competitors in an emerging industry, Epigram and Broadcom […]
MENLO PARK, Calif. – The owners of electronic organizers all across Silicon Valley will have to make several adjustments to their address books as Brentwood Venture Capital and Institutional Venture Partners (IVP) divide their enterprises and regroup into separate health-care and information technology firms. Two health-care specialists from Crosspoint Venture Partners also will take part […]
SAN FRANCISCO – Omega Ventures, which spun out of Robertson Stephens in the spring, changed its name to Crosslink Capital and held an $80 million first close in early September on its first new fund (VCJ, March, page 5). Crossover III, which is targeting $200 million, is expected to hold a second and final close […]
VIENNA, Va. – Two Washington, D.C.-area entrepreneurs in August held an initial close on their second hybrid angel club/venture fund, aiming to take advantage of early-stage deal flow neglected by a VC industry that is awash in capital and increasingly focused on later-stage investments. By creating the eMedia Club and its more generalist older sibling, […]
SANTA MONICA, Calif. – Just three months after commencing operations – two of which were spent on the fund raising trail – e-business incubator eCompanies in late August wrapped its $130 million first venture fund, another clear indication of institutional investors’ deep fascination with cyberspace. Founded in May by entrepreneurs Jake Winebaum and Sky Dayton, […]
SANTA CLARA, Calif. – CommTouch Software Ltd., a global provider of email and messaging services, went public on July 13. The company offered 3.3 million shares of common stock at $16 each, within its $15 to $17 filing range. U.S. Bancorp Piper Jaffray, Prudential Securities and Warburg Dillon Read L.L.C. underwrote the initial public offering, […]
BELLEVUE, Wash. – Drugstore.com inc., an on-line pharmacy and information resource, went public July 27, offering 5 million shares at $18 apiece. The stock priced above the company’s $15 to $17 filing range. Morgan Stanley Dean Witter, Donaldson, Lufkin & Jenrette and Thomas Weisel Partners underwrote the initial public offering, which left 42.35 million shares […]
DALLAS – Efficient Networks Inc., a provider of digital subscriber line equipment, went public July 14. The company offered 4 million shares of common stock at $15 apiece, the top of its proposed offering range of $13 to $15 per share. Credit Suisse First Boston, BancBoston Robertson Stephens and Volpe Brown Whelan & Co. underwrote […]
REDWOOD CITY, Calif. – Clarent Corp., an Internet protocol telephony systems provider, went public July 1, offering 4 million shares at $15 each. The company’s stock priced at the high end of its $13 to $15 filing range. Credit Suisse First Boston, BancBoston Robertson Stephens, Thomas Weisel Partners L.L.C. and U.S. Bancorp Piper Jaffray underwrote […]