Curated content for content, computing, and digital experience professionsals

Day: June 6, 1999

Google Receives $25 Million in Equity; John Doerr Joins Board

Google, a start-up dedicated to providing the best search experience on the web, today announced it has completed a $25-million round of equity funding led by Sequoia Capital and Kleiner Perkins Caufield & Byers. Google also announced that Michael Moritz, general partner of Sequoia Capital, and John Doerr, general partner of Kleiner Perkins Caufield & Byers, have joined its board of directors. Michael Moritz is currently a director of numerous companies, including Yahoo, eToys, Quote.com, eGroups, PlanetRx, Flextronics, and WebVan. John Doerr was a co-founder of @Home and is a director of several high growth Internet companies, including Amazon.com, Drugstore.com, Handspring, Healtheon/WebMD, Homeshop.com, Intuit, and Sun Microsystems. Google’s technology highlights include PageRank, a patent-pending, objective measure of the importance of web pages. PageRank is computed by solving an equation of 500 million variables and two billion terms. Google’s innovative user interface includes dynamic summaries, a cached web, and the time-saving “I’m feeling lucky” button. Google also offers co-branded solutions for information content providers. Google was founded in September 1998 by Larry Page and Sergey Brin, building on three years of research as computer science Ph.D. candidates at Stanford University. http://google.com

Dataware Technologies Sells Half its Interest Back to Northern Light

Dataware Technologies, Inc. announced that it has sold one-half of its interest in Northern Light Technology LLC back to Northern Light for $4.1 million and that Northern Light had also repaid its $1.2 million promissory note held by Dataware. After the transactions, Dataware retains an approximate 5% interest in NorthernLight. This transaction will result in a gain of approximately $5.0 million for Dataware Technologies during the second quarter of this year. The$5.0 million will be used as additional working capital. www.dataware.com