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December
5, 2000, Tuesday
Copyright
2000 Business Wire, Inc.
Business Wire
DISTRIBUTION:
Business Editors/High-Tech Writers
LENGTH:
444 words
HEADLINE:
Vweb Secures $10 Million In Its Third Round of Funding
DATELINE:
Dec. 5, 2000
BODY:Funds
to Advance Development of Smart Encoding Technology for Delivering
Video/Audio over IP and Standalone Consumer Electronic Devices
Furthering its
leadership position in delivery of video over the web solutions,
Vweb Corporation, a leading supplier of smart video encoder solutions
for consumer electronics, home entertainment and broadband communications
markets, has announced the completion of a third round of investment
funding. Vweb has raised in excess of $10 million from a group of
leading investors: Mr. Wu-Fu Chen, Cross Pacific Venture Partners,
Crosslink Technology Partners and Monet Capital.
Vweb will use
the funding to manufacture the VW2000 MPEG-2 Video Encoder Chip
and for ongoing research and development. Target markets for the
chip include video/audio encoding for Internet delivery and standalone
consumer electronic devices such as digital camcorders, servers,
personal video recorders, DVDs, set-top boxes, and Internet appliances.
Vweb's solutions
were designed to compress audio and video for storage and network
applications. The encoding technology will help solve current glitches
in video streaming over the Internet. Vweb partners with leading
organizations such as Panasonic Semiconductor Development Company,
nStreams Technologies, Geyser Networks, and Independent Living Solutions
to cooperatively deliver interactive video over networks on a global
scale.
Wu-Fu Chen,
former vice president of technology at Cisco Systems, is a member
of Vweb's board of directors. The involvement of Wu-Fu Chen -- who
has launched a total of 18 networking startups, including Cascade
Communications, Shasta Networks, Ardent Communications and Geyser
Networks -- is a strong endorsement of Vweb's technology.
About Vweb
Founded in January
1998 by Dr. Sho Long Chen, Vweb is focused on being the leading
provider of solutions for the most efficient distribution of digital
video and audio, using MPEG-2 and MPEG-4 compression, over the network.
The Vweb solution enables video distribution through network routers
and switches, video servers, set-top boxes, personal video recorders,
DVD play and recorders, digital camcorders, Internet Appliances
and Internet video creators. For more information visit www.vwebcorp.com.
Vweb Corporation
is headquartered at 5300 Stevens Creek Boulevard; Suite 320, San
Jose, CA 95129, E-Mail: info@vwebcorp.com and on the Web at www.vwebcorp.com.
CONTACT: Vweb
Corporation, San Jose Bill Reckwerdt, 408/615-1888 ext. 219 billr@vwebcorp.com
or e21corp Marti Miernik, 510/226-6780 ext. 174 (Media Contact)
marti_miernik@e21corp.com
URL: http://www.businesswire.com
LOAD-DATE: December 6, 2000
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