QCOM--Former Senior Microsoft, McCaw Cellular Executives Create Company to Invest in Wireless Internet Start-ups
BUSINESS WIRE - March 09, 2000 06:17
BELLEVUE, Wash., Mar 9, 2000 (BUSINESS WIRE) --
--QUALCOMM, Softbank Among Companies Investing Initial $140 Million in Ignition Corporation Designed to Bring Wireless Internet to Everyday Life--
Wireless Internet start-ups can now partner with the most experienced and innovative veterans from the software, wireless and Internet industries.
Ignition Corporation, founded by former Microsoft and McCaw Cellular senior executives and industry pioneers who revolutionized the Internet, personal computing and wireless industries, today announced the formation of a holding company designed to fund, mentor and build 'Wireless Internet' start-up companies. The company, based in Bellevue, Washington, also announced it raised an initial $140 million from a team of strategic investors including QUALCOMM Incorporated (Nasdaq:QCOM), Softbank Venture Capital and Madrona Venture Group.
Ignition Corporation's world-class team consists of ten former Microsoft and McCaw Cellular senior executives including Steve Hooper, from McCaw Cellular and Kathy Iskra from Nextlink; and Jon Anderson, John Ludwig, Cameron Myhrvold, Satoshi Nakajima, Chris Peters, Jonathan Roberts, Brad Silverberg and Rich Tong from Microsoft. Ignition's team has collectively brought to market products and services such as Windows, Windows NT, Internet Explorer, Microsoft Office, wireless tri-mode phones, National American Cellular Network and cellular digital data networking. Silverberg, Ignition's chairman and CEO, ran the Windows business from 1990-1995 and then directed Microsoft's Internet turnaround. Hooper, industry veteran and former CEO of McCaw Cellular Communications and AT&T Wireless Services, assumes the role of initial investor and member of the Board of Directors.
"We are people who identified and made big bets on the technology tidal waves of the 90s: the PC, wireless and the Internet. We believe the next tidal wave is the Wireless Internet," said Silverberg. "Like the tidal waves before it, the Wireless Internet will fundamentally change the way we live, work and communicate. We're eager to work with entrepreneurs to develop great software and solutions that will power the Wireless Internet revolution."
With more than 150 cumulative years of wireless, software and Internet experience, Ignition is well positioned to help bring about the convergence of wireless and the Internet.
"My McCaw associates and I know wireless and the Ignition founders know software. Together we're focused on helping to bring the Wireless Internet to life," said Hooper, who served as a McCaw executive since 1982. "We are eager to connect the Ignition family of companies to our network of wireless industry associates and partners."
Ignition's goal is to help make the Wireless Internet an integral part of people's daily lives by attracting, investing in and developing leading Wireless Internet companies on a global basis. Ignition will provide the partner companies it invests in access to world-class technology and business development, marketing, strategic and operational expertise. The company invests for the long-term and plans to create a "whole is greater than the sum of its parts" phenomenon among its partner companies. Furthermore, because the company is focused exclusively on the Wireless Internet industry, it has selected strategic investors, board of directors and advisors that will best benefit its partner companies.
"As carriers worldwide install and implement current and next generation CDMA and other digital data networks, the Wireless Internet's infrastructure is actively being built out. However, the development of a wide range of applications and services is still in its early stages," said Dr. Paul Jacobs, executive vice president of QUALCOMM. "We believe Ignition can help spark this development to enable the Wireless Internet to rapidly achieve its full potential."
"We've been energized by the convergence of wireless technology and the Internet for a long time," added Gary Rieschel, president and CEO of Softbank Venture Capital. "Ignition Corporation brings together a tremendous combination of great minds and expertise from the wireless, software and Internet industries. Their focus, foresight and relationships will help ignite the Wireless Internet phenomenon."
Industry start-ups have already experienced the benefits of working with Ignition founders and value the approach the company will bring to entrepreneurs. "As a board member of Tellme, Brad Silverberg brings tremendous insight to our business and technical strategies for bringing the Wireless Internet into people's everyday lives," said Mike McCue, CEO of Tellme Networks, Inc., a Wireless Internet start-up based in the Silicon Valley. "The tenets of Ignition: vision, focus, leadership and partnership are exactly what start-ups need to succeed."
The company has established a Board of Directors and advisors to help its partner companies deliver Wireless Internet products and services across global markets. Ignition's board of directors includes telecommunications expert Jacobs of QUALCOMM and Rieschel of Softbank Venture Capital. The Advisory Board is composed of industry luminaries and executives from companies such as Amazon.com, Madrona Venture Group, Microsoft, Nextlink, Strategic News Service, QUALCOMM, Real Networks, Tellme Networks, University of Washington and Valve L.L.C.
Industry analysts agree the Wireless Internet industry is exploding and is ready for solid leadership. "The Wireless Internet industry needs more than investment dollars -- that's the easy part," said Iain Gillott, wireless analyst at International Data Corporation. "Understanding the dynamics of the wireless market, its technologies, as well as having the ability to identify and take advantage of the right opportunities, will make all the difference. Ignition gathers an impressive group of people who can make this happen."
Ignition Corporation, headquartered in Bellevue, Washington, is a holding company designed to fund, mentor and build Wireless Internet start-up companies. The Ignition team includes former senior executives from Microsoft and McCaw Cellular and strategic partners who have revolutionized the Internet, personal computing and wireless industries. QUALCOMM, Softbank Venture Capital and Madrona Venture Group are prominent investors and strategic partners. For more information, visit the company web site at www.ignitioncorp.com or call 1-800-694-4460.
NOTE TO EDITORS ONLY
Talk to the Ignition Corp Execs to learn more: Phone Press Conference March 9, 2000 11 am EDT 800/886-8681 You may listen to a recording of the conference by calling: 800/633-8284
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CONTACT: pr.com Teresa Fausti, 425/739-2031 (office) 425/503-5674 (wireless) teresaff@prdot.com www.ignitioncorp.com
KEYWORD: WASHINGTON
INDUSTRY KEYWORD: SOFTWARE
INTERNET
MARKETING
AGREEMENT
TELECOMMUNICATIONS
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