Thanks Max - Like I said I have not followed much and am not in - That is why I posted it -
openave.com
and here is the text of the NR
December 1st, 1999
What's New
Summary
The Opportunity
Value Proposition
The Solution
Management Team
For Immediate Release
General and Press Inquiries:
Investor Inquiries:
Ray Evans
805 886-5733
revans@openave.com
Doug Warren
508 208-8691
dwarren@openave.com
OpenAvenue to Enable Next Wave Of Open Source Acceptance
New Firm Announces Management Team with Extensive Track Record
Scotts Valley, CA -- Andrew Brown, president of CounterPoint Capital Management, L.L.C. and
member of OpenAvenue's board of directors, today announced that OpenAvenue has
completed formation of its management team and is now in its first round of post-incubation
private placement financing. Created in July 1999, OpenAvenue is a privately-held, Web-based
company specializing in the hosting, management, and distribution of collaborative software
development projects. OpenAvenue provides a global collaborative infrastructure to aggregate
the worldwide inventory of code, knowledge and expertise to support the evolution of
community-based, open-source development.
OpenAvenue Management Team
The OpenAvenue management team is led by Paul Hessinger, CEO and chairman of the
board. Hessinger has more than 25 years of industry experience, most recently as executive
technology counsel to Andrew "Flip" Filipowski, CEO of PLATINUM technology, inc. Hessinger
has also held executive positions at Computer Task Group, BMW/Softlab, Dynasty
Technologies, and KnowledgeWare. Doug Warren, executive vice president of operations
and CFO, joins OpenAvenue from ONTOS, where he was president. Earlier, he was CFO and
acting general manager of Business Software Technology (acquired by LEGENT Corporation).
Jayson Minard, executive vice president and CTO, is the co-founder and technical
visionary of OpenAvenue's collaborative infrastructure. Minard has held senior positions at
Novell and Inprise, where he was chief architect for the JBuilder™ project. Ray Evans,
executive vice president of marketing, was a key participant in PLATINUM technology's
successful launch of the industry's first infrastructure solution for application development.
Jeffrey Fredrick is vice president of engineering and an OpenAvenue co-founder. Fredrick
held management positions at AlphaBlox and Inprise, where he was a founding member of the
JBuilder team.
OpenAvenue and The Next Wave of Open Source Acceptance
In its August 1999 Bulletin, "Open Source Software," International Data Corp. stated that,
"Large corporations are waking up to the enormous benefits of open source… Especially for
infrastructure software, the world will become a safer place for computer users."
The OpenAvenue portal provides an infrastructure of productivity tools and services around a
core of hosted content to facilitate collaborative effort among a worldwide community of
developers. Software content is made available by open-source authors, shareware
developers, freeware contributors, independent software vendors (ISVs) and IT consulting
organizations with applications that can benefit from community participation.
"The 'why' of open source has been proven by the commercial acceptance of a few high profile
programs such as Linux, Apache, and Perl," stated Hessinger. "What's been missing is the
infrastructure that can turn the process of open-source software development into a reliable,
scaleable platform." Hessinger continued, "We believe OpenAvenue provides the 'how' to
enable the 'Open Industry' - the rapidly growing community of developers, owners, and users of
publicly-developed software, including open-source, shareware, and freeware, as well as
emerging hybrids of open-source components of commercial programs."
According to Adrian Bowles, industry analyst and president of Business Technology Network,
"The next challenge for the open-source model is to cross the chasm that currently separates
community-based development from the larger world of corporate software developers.
Opensourcing the development of non-proprietary components to an outside pool of talent
makes good business sense if there is an infrastructure in place to mitigate the risk." Bowles
concluded, "OpenAvenue's model is squarely aimed at providing the means to manage these
projects in a way that makes them acceptable to the corporate community."
About Open Source
Open Source, a trademark of the Open Source Initiative, describes software that is developed
by a community of programmers using freely distributed, non-proprietary source code. Open
source promotes software reliability and quality by supporting independent peer review and
rapid evolution of source code.
How To Reach OpenAvenue
OpenAvenue can be found online at openavenue.com. |
