Groove Networks Closes $38 Million Financing

by Volker Weber

From the corporate press release:

Groove Networks Inc. [...] today announced it has closed a fifth-round financing of $38 million, with investments from all existing investors, including Microsoft Corp., Intel Capital, Accel Partners and private investors. With this financing, the company has now raised more than $155 million since its founding in October 1997 by CEO Ray Ozzie.[...]

Groove Networks said it will use the additional funds to support ongoing operations. [...] Groove Networks also announced it has completed a restructuring of its sales, marketing and services organizations, resulting in the elimination of 58 positions, or 20 percent of its workforce.

More >

Comments

Recent comments

Michelle O'Rorke on Welcome to the 1% at 03:56
Bernd Schuster on Olloclip 4-in-1 photo lens for the iPhone 6 and 6 Plus at 01:47
Ben Poole on Welcome to the 1% at 23:39
Sven Bühler on Ich liebe diese Reaktionen at 21:14
Thomas Holzapfel on Olloclip 4-in-1 photo lens for the iPhone 6 and 6 Plus at 21:01
Christian Henseler on Statt Photoshop at 20:40
Volker Weber on Statt Photoshop at 18:54
Robert Jeschonnek on Glückwunsch @herr_lampe at 17:59
Christian Hensler on Statt Photoshop at 15:43
Ingo Seifert on Sonos Controller on BlackBerry at 15:38
Andrew Magerman on Withings Blood Pressure Monitor at 14:20
Frank Koehler on Sonos Controller on BlackBerry at 13:47
Hubert Stettner on Sonos Controller on BlackBerry at 12:43
John Keys on Statt Photoshop at 12:43
Hubert Stettner on Threema arrives on Windows Phone at 12:41
Hans Giesers on Ich liebe diese Reaktionen at 12:00
Hans Giesers on Ich liebe diese Reaktionen at 11:50
Ingo Seifert on Threema arrives on Windows Phone at 11:42
Marc Patermann on Ich liebe diese Reaktionen at 09:21
Maikel Maes on Ich liebe diese Reaktionen at 08:46
Thomas Lang on Ich liebe diese Reaktionen at 07:45
Hans Giesers on Ich liebe diese Reaktionen at 23:11
Alexander Siemes on Spotify :: voweXXL est mort, vive vowe! at 17:39
Marc Beckersjuergen on Ich liebe diese Reaktionen at 15:57
Volker Weber on Spotify :: voweXXL est mort, vive vowe! at 15:45

Ceci n'est pas un blog

vowe.net is a personal website published by Volker Weber a.k.a. vowe. I am an author, consultant and systems architect based in Darmstadt, Germany.

rss Click here to subscribe

Hello

About me
Contact
Publications
Certificates
Amazon Wish List
Frequently Asked Questions
Follow @vowe on Twitter

Local time is 05:04

visitors.gif

Tip jar

Archives

As most of my articles roll off the front page rather quickly, I am making an archive of previous posts available here. You can also use the handy search box at the top of the page if you are looking for something particular.

Last 30 days
More archives

Mobile tag for this page

© 1992-2014 Volker Weber.
All Rights Reserved.

Impressum