21-year-old secures $53 million for high tech startup

[William Knowles <erehwon () KIZMIAZ DIS ORG>]

http://www.mercurycenter.com/svtech/news/breaking/merc/docs/004316.htm

PALO ALTO, Calif. (AP) [12.15.99] -- Angus Davis told his parents not
to worry when he was thrown out of the prestigious school Phillips
Academy Andover for hacking into the telephone system.

But even Davis couldn't have predicted that in less than five years he
would leverage his scofflaw talents to secure $53 million in funding
for a company trying to combine the power of the World Wide Web with
the convenience of the telephone.

On Wednesday Davis -- who is barely old enough to pop a bottle of
champagne -- announced that he and his partners a their company,
Tellme Networks Inc., have received $47 million in funding from rival
venture capital firms Benchmark Capital and Kleiner Perkins Caufield &
Byers. The new round of investment brings the company's total funding
to $53 million.

``It's a lot of money,'' said Davis, 21, perched on the bed he has
built above his desk. ``It's a testament to the importance of our
team.''

[...]


==
Some day, on the corporate balance sheet, there will be
an entry which reads, "Information"; for in most cases
the information is more valuable than the hardware which
processes it. -- Adm. Grace Murray Hopper, USN Ret.
==
http://www.dis.org/erehwon/

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