Pacific Century CyberWorks (PCW, PCWKF) Message Board

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Technology Stocks : Pacific Century CyberWorks (PCW, PCWKF)

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To: John McDonald who wrote ()	2/29/2000 4:09:00 PM
From: Geof Hollingsworth	Read Replies (4) of 4541

And now, for something completely different... o Magically Gets $11.5 Million in Second Round, Gets New CEO REDWOOD CITY, Calif. -- Magically, a company which develops mobile communications products and services, said it raised $11.5 million in its second round of funding. Pacific Century Cyberworks led the round with an equity investment for a 12% stake. Japan Asia Investment Company and Cable & Wireless Hong Kong Telecom also participated in the round. Mico Chung, an executive vice president of Pacific Century Cyberworks, will join Magically's board of directors. The funds will be used for management expansion and marketing. Magically also said it promoted COO Michael Yahng to chief executive officer. Mr Yahng is taking over the position from founder Erwin Huang, who will remain on the board of directors and becomes chief technology officer.

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