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To: CBurnett who wrote (1859)	7/30/2000 10:25:24 AM
From: The Barracuda™	Respond to of 2127

Backflip Leaps Forward - Raises $14 Million in Series B SAN FRANCISCO, July 27 -- Backflip Inc., a second-generation Internet company focused on providing users with the easiest, most personal way to navigate the Web they want, today announced the closing of their $14 million Series B round of funding. Leading this second round of financing is Rosewood Venture Group, a San Francisco firm with a 15-year track record of successful investments in consumer and technology companies. Robert Keller, general partner of Rosewood, joins the Backflip Board of Directors. Other new investors include Aslan Capital L.L.C., based in Gig Harbor, WA, who joins the round along with two Series A investors, 21st Century Internet Venture Partners and Angel Investors L.P. ``Backflip's core focus of simplifying Web usage and navigation while creating retention value for perishable content is a very intriguing service and business model,'' said Robert Keller, general partner at Rosewood Venture Group. ``When taking into consideration the value of this service to the wireless platform -- that's when things get very interesting.'' Backflip plans to use money from the round to invest in improving product features and functionality, driving consumer use, and building up the infrastructure. ``With this infusion of capital, Backflip will continue to lead the personal Web navigation space, making our core service even more personal and easy to use while aggressively expanding our current wireless offering,'' said Tim Hickman, CEO and co-founder of Backflip. About Backflip Inc.: Backflip, Inc. ( backflip.com ), a PC Magazine Top 100 Web site, is dedicated to improving the quality of Web navigation by making it easier for people to get what they want out of the Web. With highly personalized features like My Daily Routine, users can streamline their habitual Web activities, allowing them to save time online. Netscape veterans Tim Hickman and Chris Misner founded Backflip in June 1999. The company's investors and board of directors include four prominent Silicon Valley leaders: Jennifer Bailey, former senior vice president of Netscape; Ron Conway, general partner of Angel Investors; J. Neil Weintraut, general partner at 21st Century Internet Venture Partners, and Robert Keller, general partner at Rosewood Venture Group. There are more than 300 partners within the Backflip Network including Salon.com, Red Herring and CBS Marketwatch. Headquartered in San Francisco, Backflip currently has more than 40 employees. About Rosewood Venture Group: Founded in 1985, Rosewood Venture Group manages $300 million in venture capital. The firm primarily focuses on building Internet brands in the business-to-business, infrastructure and services sectors. Representative Internet investments include SpringStreet.com, BuyMedia.com, PeoplePC, MetaTV, Ofoto, Xpede, and UltimateBid.com.