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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting -- Ignore unavailable to you. Want to Upgrade?

To: foundation who wrote (8469)	3/12/2001 8:30:44 PM
From: Caxton Rhodes	Respond to of 196448

Streaming Content for Wireless Web Gets $90 Million SAN FRANCISCO (Reuters) - High-tech start-up PacketVideo Corp. Monday said it received $90 million in funding from some of the biggest U.S. technology companies, which it plans to invest in designing software to streamline video and audio content over the Internet. Investors included Intel Corp. (NasdaqNM:INTC - news), Motorola Inc. (NYSE:MOT - news), Qualcomm Inc. (NasdaqNM:QCOM - news), Sun Microsystems Inc. (NasdaqNM:SUNW - news) and Texas Instruments Inc. (NYSE:TXN - news). Monday's financing for privately-held PacketVideo brings the total it has raised since its July 1998 launch to $145 million, the San Diego, Calif.-based company said. The Monday investment alone ranks among the largest private technology financing deals this year. ``It represented the entire food chain of the wireless world,'' PacketVideo Chief Executive Jim Carol told Reuters. ''Every one of those partners we brought in, we'll do business with.'' PacketVideo envisions content, including news, traffic report and movie previews, streamed over the Web to devices such as cellular telephones, personal digital assistants and lap-top computers. Its software turns analog video into digital video and compresses it, while the company's server software delivers the coded transmissions to handheld devices, which are enabled with PacketVideo software for decoding transmissions. In December, PacketVideo unveiled its PVAirguide, a kind of portal for video content from 100 partners -- including AOL Time Warner Inc. (NYSE:AOL - news) and a number of movie studios -- available over the wireless Web. PacketVideo also has 17 trials running in 11 countries, Carol said, noting the company is prepared for an initial-public-offering once stock markets rebound.