August 23, 1999
COLLAB.NET RECEIVES FUNDING FROM BENCHMARK
SAN FRANCISCO, CA--Collab.net, Inc. has received initial funding from
Benchmark Capital. Founded in May 1999 by President and CTO Brian
Behlendorf, co-founder of the Apache Software Foundation, and O'Reilly
& Associates, Collab.net provides scalable services and infrastructure
for the development of Open Source software.
Collab.net's first project, sourceXchange, is a dynamic marketplace
for the funding of Open Source software projects
(http://www.sourceXchange.com). In its first week of operation,
sourceXchange has posted seven RFPs (Requests for Proposals) from
founding sponsor Hewlett-Packard and signed up over 2000 Open Source
developers. Other Collab.net services under development will be
announced in Fall '99.
"We're believers in the business opportunities created by Open Source,"
said Kevin Harvey, general partner, Benchmark. "Like Red Hat, another
Benchmark investment, Collab.net's business model adds real value to
the Open Source development process. The deep understanding of Open
Source's potential brought by Brian Behlendorf and O'Reilly &
Associates sets Collab.net apart from other ventures, and puts them at
the forefront of the next big Internet wave--eServices."
"With this investment, we'll hire a complete team to flesh out both the
sourceXchange offering and our followup services, and build a
professional site that serves both the business and the Open Source
communities," said Behlendorf. "Building this community and this
service will not be easy work. While Benchmark's investment doesn't
take away the challenge, it does enable us to face it head-on."
"Benchmark is the ideal partner for Collab.net," said Mark Jacobsen,
O'Reilly's VP of New Ventures. "They understand the Open Source
opportunity, and their support adds credibility to this emerging
market. We're pleased to have their backing."
Collab.net provides scalable services and infrastructure to support and
promote the development of Open Source software in a manner that
benefits developers, sponsors, and users of the resulting software.
Created by Brian Behlendorf, co-founder of the Apache Software
Foundation, and O'Reilly & Associates, the company's first project is
sourceXchange, a marketplace for Open Source software development. For
more information, see www.collab.net.
Benchmark Capital was founded in 1995 with the mission of helping
talented entrepreneurs build major technology enterprises focused on
long-term growth. Benchmark takes a labor-intensive, team-oriented
approach to venture investing in order to deliver a superior level of
service to its portfolio companies. Benchmark's portfolio includes
franchise companies such as Ariba (NASDAQ: ARBA), Critical Path
(NASDAQ: CPTH), E-Loan (NASDAQ: EELN), eBay (NASDAQ: EBAY), Genesys
Telecommunications Labs (NASDAQ: GCTI), Northpoint Communications
(NASDAQ: NPNT), Red Hat (NASDAQ: RHAT) and Scient (NASDAQ: SCNT).
Managing more than $400 million in committed venture capital, Benchmark
focuses on early-stage investing in markets where the partners have
directly relevant experience. These markets include consumer devices,
e-commerce, application services, networking equipment, semiconductor,
software, and telecommunications services. For more information on
Benchmark, visit their Web site at www.benchmark.com.
O'Reilly Media spreads the knowledge of innovators through its books, online services, magazines, and conferences. Since 1978, O'Reilly Media has been a chronicler and catalyst of cutting-edge development, homing in on the technology trends that really matter and spurring their adoption by amplifying "faint signals" from the alpha geeks who are creating the future. An active participant in the technology community, the company has a long history of advocacy, meme-making, and evangelism.
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