[BusinessTeam] Yellowbrix

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Message-ID: <6B75EF096AE0BE428B8CEDEA89C5F632782359@exchange01.lab49.com> · Thu Feb 22 14:58:17 2001 UTC

After Layoffs YellowBrix Raises $8M Series C; Pulls IPO 

ALEXANDRIA, Va. (VENTUREWIRE) -- YellowBrix, which provides content 
infrastructure services, announced it has withdrawn its IPO filing and 
raised $8 million in its Series C round of funding from previous investors

Quantum Industrial Partners, ABN Amro Private Equity, Holland Ventures,
and 
others. The new funding follows a series of layoffs that started in 
December. YellowBrix's chief financial officer, S. Randy Lampert, recently

took over as CEO, replacing David Hoppman, who resigned to pursue other 
business opportunities, the company said. A company spokeswoman denied any

ties between the layoffs and the investment. So far, Yellowbrix has laid
off 
60 of its 198 employees. In addition to the $8 million financing,
YellowBrix 
also arranged the conversion of $6.5 million of existing debt into company

equity. The company also announced it will withdraw its IPO registration 
with the SEC, citing the current IPO market. YellowBrix has raised 
approximately $31.5 million to date. CNNfn, Holland Ventures, Infoseek, 
Prime Technology Ventures, and Soros Fund Management, have also invested
in 
the company. 
http://www.yellowbrix.com 

Ashley Ching 
nano 
212.430.3722 
ashley@nano.com 
www.nano.com 

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