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To: lupaka who wrote (5145)	10/20/2000 9:38:19 PM
From: lupaka	Respond to of 5650

P6 VC funding in GLIDES Thursday October 19, 3:45 pm Eastern Time Press Release GLIDES glides.com Bellevue, WA FUNDING: $3.5M ROUND: 1st CATEGORY: Internet software DESCRIPTION: Provides multilingual Web content management software. LEAD INVESTOR: Timberline Venture Partners OTHER INVESTORS: PSINet Ventures MORE INFORMATION: Businesswire <http://www.businesswire.com/webbox/bw.101800/202920138.htm> ( BW)(OR-TIMBERLINE/GLIDES) Timberline Leads Series A Funding for Glides; ASP Helps Companies Manage Multilingual Web Content Business Editors/High-Tech Writers SEATTLE & PORTLAND, Ore.--(BUSINESS WIRE)--Oct. 18, 2000-- Timberline Venture Partners, a venture capital firm focused on early-stage information technology funding, today announced it had led a $3.5 million funding round for Glides Inc. (www.glides.com <http://www.glides.com>) of Bellevue, Washington. Timberline provided the majority of the Series A funding, which also included financing from PSINet Ventures Ltd., the wholly owned corporate ventures unit of PSINet Inc. of Ashburn, Virginia. William R. Kallman, Timberline's managing partner, has joined Glides' board of directors. Founded in 1998, Glides helps companies manage the content of multilingual Web sites. Using an ASP-based platform called UniSite 2000, Glides enables companies to create and manage changes to a single site in multiple languages, eliminating the expense and hassle of maintaining separate sites for each language. Glides' solution, targeted at companies with annual revenues between $10 million and $500 million, offers seamless integration with translation services and allows businesses to add as many new languages (including complex character sets like Chinese and Japanese) as needed in a simple and cost-effective manner. Until now, most of the e-commerce traffic on the World Wide Web has been conducted in English. But according to projections, Asian, European and Latin American online markets will quadruple within four years, and non-English speakers will rise from 42 to 70 percent of the online population. "We've been looking at opportunities emerging from the globalization of the Internet for some time," said Kallman. "What excites us about Glides is that the company has developed a powerful, global infrastructure solution that's both scalable and extensible. We see broad opportunities for key alliances with other companies providing globalization and translation services." The funding of Glides illustrates Timberline's emphasis on Internet service and software infrastructure ventures. Through the third quarter of 2000, Timberline had investments in 15 companies, representing an outlay exceeding $25 million. Those companies have garnered $50 million in syndication and follow-on co-investment. Timberline is an independently managed affiliate of Draper Fisher Jurvetson, a Silicon Valley-based venture capital firm with more than $1 billion under management. "It's obvious Timberline has done its homework," said Katarina Bonde, Glides' president and CEO. "I've been extremely impressed with their in-depth knowledge of multilingual technology and content management markets. That, combined with their high-level business expertise, will add a lot of value as we continue to grow our company." Glides plans to use its new financing to continue development of UniSite 2000, which was launched in September 2000.