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Technology Stocks : Paul Allen's Wired World -- Ignore unavailable to you. Want to Upgrade?

To: Adam S who wrote (110)	7/7/1999 2:07:00 PM
From: janet kuhnert	Respond to of 361

Here is another possible IPO. Perhaps we should have a list of possible IPO's that Vulcan is invested in. Island ECN to Receive $25 Million from Third Partner;Vulcan Ventures Acquires Stake in Second Largest ECN NEW YORK, June 10 /PRNewswire/ -- The Island ECN announced today that Vulcan Ventures Inc. has agreed in principle to invest $25 million, acquiring a 12 percent stake. Vulcan will become the third partner with an interest in Island, following last month's investment announced by Waterhouse Investor Services. "This commitment to Island by one of technology's pre-eminent investors further endorses Island's system for matching the buyer and seller and also solidifies our position as an industry leader," said Matt Andresen, president of Island ECN. "We welcome the expertise and insight that Vulcan Ventures will bring to our company." Vulcan is a new media venture capital firm that helps identify, evaluate and negotiate investments for Paul G. Allen, as he fulfills his vision of a Wired World, where everything is interconnected through advanced technology. Allen, co-founder of Microsoft Corp., invests in established companies with proven management talent, a solid business plan, demonstrated performance, and innovative products or services that can be part of the Wired World. Island, the second largest alternative trading system, is known for its sophisticated technology, efficiency and reliability. The agreement, expected to close within 60 days, could allow Island to benefit from Vulcan's network of high-technology companies by opening avenues for new relationships and raising company awareness. "We hope to leverage the strategic advantages that Vulcan will provide, along with Mr. Allen's vision of an integrated information network across multiple distribution channels," Mr. Andresen said. Island is the only ECN or market maker to publicly display its order book, the list of all outstanding orders. Bill Savoy, president of Vulcan Ventures, said the relationship with Island will provide an added financial services dimension to the Wired World vision. "We believe strongly in the direction that Island is taking, and we're confident in Island's position as a leader in this industry," Mr. Savoy said. "Island's sophisticated and innovative technology will add value to, as well as benefit from, the other companies in the broad Vulcan Ventures portfolio." Vulcan's investment will be used to further fund Island's expanding infrastructure needs, as well as help with the costs associated with the company's planned filing to become a national securities exchange. Island has announced its intention to register as a stock exchange and will submit a filing with the Securities and Exchange Commission later this year. The Island ECN, Inc. is an electronic order-matching system that gives brokerage firms the power to electronically display and match stock orders for retail and institutional investors. Island is a fair and impartial stock trading forum where buyers and sellers meet directly. Island's efficient and reliable system reduces costs to both brokerage firms and investors, each day transacting more than $5 billion in dollar volume. The alternative trading pioneer, Island is located online at isld.com and is headquartered in New York City. Paul G. Allen owns and invests in a suite of companies exploring the potential of digital communications. Allen's business strategy includes encouraging communications and synergy between his companies for mutual benefit. His primary companies include Asymetrix Learning Systems (Nasdaq: ASYM), Vulcan Ventures Inc. and Vulcan Northwest Inc., all of Bellevue, Wash., and Interval Research Corp. of Palo Alto, Calif. Allen is owner of the Portland Trail Blazers NBA team and the NFL's Seattle Seahawks franchise, is a partner in the entertainment studio DreamWorks SKG and holds investments in more than 60 new media companies which further his vision of a Wired World. Allen co-founded Microsoft Corp. with Bill Gates in 1975 and served as the company's executive vice president of research and new product development, the company's senior technology post, until 1983. Allen gives back to the community through the six Allen Charitable Foundations, which support arts, medical, forest protection and other charitable needs in the Pacific Northwest, and is the founder of Experience Music Project in Seattle. This transaction is subject to acceptance and regulatory approval. SOURCE The Island ECN, Inc. CO: Island ECN, Inc.; Vulcan Ventures Inc.; Asymetrix Learning Systems