Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: U Up U Down who wrote (22768)	10/3/1999 4:21:00 PM
From: AlienTech	Read Replies (1) \| Respond to of 43080

Company Press Release SOURCE: PENgroup.com PENgroup.com Receives Funding From Softbank Technology Ventures, Pequot Capital Management and Net Investments Web-Based Consulting Procurement Service Receives $3 Million In First-Round Funding. ENGLEWOOD, Colo., Sept. 30 /PRNewswire/ -- PENgroup.com, a revolutionary web-based consulting procurement service, announced today that it has received a first-round investment of $3 million from SOFTBANK Technology Ventures, Pequot Capital Management and Net Investments. In addition, Bradley Feld of SOFTBANK, Gerald Poch of Pequot and Ray Park of Net Investments have joined the company's board of directors. PENgroup.com is an Internet-based network of pre-qualified, independent consulting firm Affiliates covering all major consulting practice areas. Through the company's online services, PENgroup.com brings greater efficiency and better results to the consultant procurement process. PENgroup.com clients can rapidly identify multiple consulting firm Affiliates with desired expertise, access detailed performance reports and quickly obtain competitive bids. PENgroup.com Affiliated firms average 22 years experience within their industry specialty, compared to three to five years for a senior consultant in large consulting firms. PENgroup.com Affiliates are pre-qualified based on qualitative and quantitative measurements, and continue to meet strict quality standards to maintain membership in the network. ''By leveraging the Internet, we have created a whole new business dynamic in the consulting industry,'' said David M. Gold, CEO of PENgroup.com. ''Our services greatly reduce the costs and risks of procuring consulting services by delivering a national network of pre-qualified, independent firms through powerful on-line procurement tools. The bottom line is much greater value for client consulting expenditures.'' ''PENgroup.com has developed a successful e-commerce model in the business-to-business arena that can literally transform the consulting industry,'' said Bradley Feld, SOFTBANK Technology Ventures Managing Director. (If the name sounds familiar then its because he runs INIT and MESG another 2 compaines hes showing the world HWO IT IS DONE).. ''PENgroup.com can decrease consulting procurement costs through the Internet while providing high quality consulting services,'' said Gerald Poch, General Partner of Pequot Capital Management. PENgroup.com consulting firm Affiliates obtain many of the advantages of being part of a large organization without sacrificing their independence, including access to brand recognition, new clients and business services. There are more than 8,800 consultants in the PENgroup.com Affiliated firms with expertise in management, marketing, information technology, manufacturing, engineering, finance, human resources and other major consulting fields. SOFTBANK Technology Ventures V (www.sbvc.com) is a $600 million venture capital fund focused primarily on early-stage Internet companies. SOFTBANK past and current portfolios include public Internet companies such as Yahoo!, GeoCities, Critical Path, E*TRADE, E-LOAN, Interliant, MessageMedia, Net2Phone, and TheStreet.com. Pequot Capital Management (www.pequot.com) is a research-intensive investment firm with more than $5 billion under management. Net Investments Inc. is a subsidiary of the Cleveland-based Park Corporation, and makes Internet-related investments. Headquartered in Englewood, CO, PENgroup.com is revolutionizing the procurement of consulting services. The company has powerful on-line systems and processes that increase the efficiency of consulting procurement services and reduce the inherent risk. PENgroup.com is transforming the consulting industry by providing an on-line procurement service that offers a national network of pre-qualified, independent firms. PENgroup.com is provided in cooperation with Dun & Bradstreet. Contact Joseph C. Campbell, 800-983-9737 for additional information. SOURCE: PENgroup.com