Yes another connection of Comdisco financing and Andreini, is no great wonder why the IPO of interworld was put on hold. They did the financing through Comdisco then made Andreini President and Chief Operating officer after the financing. Wonder if the sales they had were created like CYOE'S? Michael Donahue ownes CYOE shares too. Its in Andreini's 13d filing on CYOE dated 4/5/99. Slaven CDO's ex CEO resigned on 1/11/99. Pretty funny stuff. On 1/12/99 Comdisco also reported that Alan Andreini, who left Comdisco as Executive Vice President in May 1997, has resigned from the Board of Directors.
"InterWorld is uniquely positioned as the leader in the market with the most technically robust Internet commerce solution," said Slevin. "With Alan joining InterWorld, the strategic partnership between InterWorld and Comdisco will grow even closer than it has been."
INTERWORLD NAMES ALAN ANDREINI
PRESIDENT AND CHIEF OPERATING OFFICER
Former Executive Vice President and Director of Comdisco
Takes the Helm of Fast Growing Internet Commerce Company
New York, NY - April 29, 1997 — InterWorld Corporation, a leading provider of Internet commerce software solutions, announced today the appointment of Alan Andreini as the President and Chief Operating Officer. Andreini was an Executive Vice President, member of the Office of the President and Director of Comdisco Inc., Rosemont, Ill., a $2.4 billion provider of technology services.
Andreini will be responsible for managing InterWorld's growth, developing its core competencies, aligning strategic partnerships, and expanding its national and international presence. He will join co-founders Robert Zangrillo, CEO, and Michael Donahue, CTO, as a member of the InterWorld Office of the President.
"With Alan's background at Comdisco, InterWorld gains a wealth of expertise in building and managing a fast growing technology company. We're extremely pleased to have a person of Alan's talent and experience leading the day-to-day operations of our company," said Robert Zangrillo, co-founder and CEO InterWorld Corporation.
Andreini joined Comdisco in 1978, and was named Senior Vice President in1986 and Executive Vice President in 1994. He was responsible for Comdisco Ventures, the corporate budget, human resources, re-engineering and transaction processing. He was named to Comdisco's board in 1992 and will remain a director of Comdisco. Prior to Comdisco, Andreini served as a Vice President of Salomon Brothers from 1973 to 1978 in New York and London. Mr. Andreini received degrees from both Princeton University and Rutgers University School of Law.
In addition, InterWorld has announced that Jack Slevin, Chairman and CEO of Comdisco, has joined Andreini on InterWorld's Board of Directors. Comdisco, through its Ventures business unit, has an equity position in InterWorld.
"InterWorld is uniquely positioned as the leader in the market with the most technically robust Internet commerce solution," said Slevin. "With Alan joining InterWorld, the strategic partnership between InterWorld and Comdisco will grow even closer than it has been."
ADDENDUM
InterWorld Corporation is announcing a company name change. The company will officially be recognized as InterWorld Corporation. This change reflects the company's industry recognition.
About InterWorld
InterWorld Corporation is a leading provider of enterprise-class Internet commerce software for sales, order management, account management and fulfillment. The company develops, markets, and licenses high-performance, mission-critical enterprise commerce applications focused on the selling chain. InterWorld's products have been adopted by Global 2000 corporations, manufacturers, distributors, and retailers. Founded in 1995, InterWorld is a privately-held company headquartered in New York, NY, with offices in major U.S. cities as well as Australia, Europe, and Japan. For more information telephone 1-877-ECOMMERCE.
InterWorld is a registered service mark and a trademark of InterWorld Corporation. All other trademarks are acknowledged.
For more information, please contact:
Chris Faust
InterWorld Corp.
(212) 301-2375
chrisf@interworld.com
INTERWORLD SECURES $12.5 MILLION OF FINANCING FROM
INVESTMENT GROUPS ASSOCIATED WITH GEORGE SOROS,
KEN LANGONE, PAUL ALLEN, CARREFOUR, DLJ AND COMDISCO
New capital to fund continued expansion
New York, January 13 — InterWorld Technology Ventures, a leading provider of high performance Internet commerce software, announced today that it has raised $12.5 million in private financing from a group of investors affiliated with Soros Fund Management, Invemed Associates, Global Retail Partners and Comdisco. Specific financial terms of the agreement were not disclosed.
InterWorld will use the funds to finance the company's continued growth. "We see our investors, who are leaders in the retail, software, technology services and financial industries as extremely strategic in positioning InterWorld as the world's premier developer of high-end, Internet commerce software solutions," said InterWorld Chairman and CEO Robert L. Zangrillo upon making the announcement.
Soros Fund Management LLC, a limited liability company majority owned by George Soros, is a New York-based private investment management firm that serves as principal investment advisor to the Quantum Group of Funds. With assets of approximately $15 billion, the Quantum Group consists of a number of investment funds with each having its principal office in the Netherlands Antilles. The Quantum Group is not open to U.S. investors.
Invemed Associates has been a New York Stock Exchange member firm since 1974, and provides investment banking services for a wide range of companies, including Home Depot, Inc., United States Broadcasting Company and Unifi, Inc. Kenneth G. Langone is Invemed's president and founder.
Global Retail Partners is a fund that makes investments in all areas of retailing, including electronic commerce. Its limited partners include Carrefour, S.A., a $25 billion French retailer, Paul Allen, co-founder of Microsoft, and Donaldson, Lufkin & Jenrette.
Comdisco, Inc. is a technology services company and one of the world's leading providers of solutions that help organizations reduce technology cost and risk. These services include asset management, equipment leasing and remarketing, business continuity, technology integration and network services. Based in Rosemont, Illinois, the company posted 1996 revenues of $2.4 billion and assets of $5.6 billion.
About InterWorld
InterWorld Corporation is a leading provider of enterprise-class Internet commerce software for sales, order management, account management and fulfillment. The company develops, markets, and licenses high-performance, mission-critical enterprise commerce applications focused on the selling chain. InterWorld's products have been adopted by Global 2000 corporations, manufacturers, distributors, and retailers. Founded in 1995, InterWorld is a privately-held company headquartered in New York, NY, with offices in major U.S. cities as well as Australia, Europe, and Japan. For more information telephone 1-877-ECOMMERCE.
InterWorld is a registered service mark and a trademark of InterWorld Corporation. All other trademarks are acknowledged.
For more information, please contact:
Chris Faust
InterWorld Corp.
(212) 301-2375
chrisf@interworld.com
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