FRAMINGHAM (06/30/2000) - Loudcloud Gets a Silver (Dollar) LiningLoudcloud Inc., Internet pioneer Marc Andreessen's second venture, has raised $120 million in additional funding from eight venture capital firms. The closely held company, based in Sunnyvale, California, helps firms quickly set up Web operations and then manages the operations. Loudcloud said investors collectively will get less than 20% of its equity, pointing to a valuation of more than $600 million for the company founded just eight months ago.
3Com Posts Results, Exits Markets
3Com Corp. reported a fiscal fourth-quarter loss as it excluded the results of its Palm Inc. unit and began dumping businesses. The networking-equipment maker's loss for the quarter ended June 2 was $146.8 million, or 42 cents per share. A year earlier, net income was $88 million, or 24 cents per share.
Revenue from continuing operations dropped 38%, from $1.23 billion to $763.7 million. The company is focusing on small offices and consumers while exiting markets for dial-up modems and networking equipment for large organizations.
IBM Puts Up Pricey Help-Wanted Sign
IBM Corp. is expected to unveil new products and a $1 billion spending plan aimed at expanding its sales of software for Internet sites. IBM plans to hire 1,000 marketing professionals and sales staff within the next year.
Novell Inc. Launches Web Delivery ServiceNovell Inc. this week introduced Novell Content Exchange, a service that will speed up delivery of all types of Web content. Content Exchange lets Web sites use a streaming-media delivery service like that of Akamai Technologies Inc. in Cambridge, Massachusetts, without requiring modifications to the site itself.
The service will initially be offered by GlobalCenter Inc., a Web hosting company in Sunnyvale, California.