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.
Comments
Recent comments
Volker Weber on A week with the BlackBerry Q10 at 01:24
Torben Volkmann on A week with the BlackBerry Q10 at 01:20
Thomas Gumz on This account isn't dead. It's resting. at 00:07
Volker Weber on Leading at 22:55
Volker Weber on Leading at 22:53
Scott Hanson on Leading at 22:48
Volker Weber on Leading at 20:39
Chris Whisonant on Leading at 20:37
Volker Weber on Leading at 20:36
Chris Whisonant on Leading at 20:25
Volker Weber on Leading at 20:20
Chris Whisonant on Leading at 20:16
Volker Weber on Leading at 19:59
Chris Whisonant on Leading at 19:32
Volker Weber on This account isn't dead. It's resting. at 19:11
Thomas Gumz on This account isn't dead. It's resting. at 18:45
Harald Wolf on Testing BB10 at 09:08
Scott Hanson on Leading at 06:43
Volker Weber on Leading at 00:37
Darren Adams on Leading at 00:35
Tobias Mueller on New luggage at 21:24
Torben Volkmann on IBM being social at 20:23
Jürgen Gabel on Testing BB10 at 17:20
Boudewijn Kiljan on It's actually quite easy at 12:57
Ingo Seifert on Don't update the Windows Phone YouTube app at 12:48
Click here to subscribe
