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Redwood City, Calif., May 7, 1998 -- NetObjects, Inc. today announced that its CEO Samir Arora has invested $1 million in the Web site building software leader to help fuel its growth into a major, independent software company. In addition, contribution from other NetObjects founders David Kleinberg and Sal Arora brings the total investment in this round to over $1.2 million.
The investment follows a $1.5 million investment by the founders in July of last year and an investment by IBM Corporation in March 1997.
“We are building NetObjects into one of the major software companies of the nineties and the original founders intend to fully participate in its success,” said Arora. “As the category-creating provider in the explosive segment of Web site building, NetObjects presents an excellent investment opportunity.”
Forrester Research estimates that the worldwide Internet software tools market will grow from $330 million in 1997 to $1.2 billion by the year 2000.
Since September 1996, over 300,000 people have downloaded NetObjects Fusion, NetObjects TeamFusion and NetObjects ScriptBuilder to build Web sites. Customers include major corporations such as Greyhound, Motorola and Peoplesoft; businesses such as Total Entertainment Network and Omni Healthcare; and design firms such as SourceW, a division of Westinghouse and C20, a division of EDS.
About NetObjects
NetObjects, Inc. is a privately-held company that is funded by IBM, Perseus LLC, AT&T Ventures, Norwest Venture Capital, Venrock Associates, Rae Technology LLC and private investors. NetObjects’ partners include Apple Computer (NASDAQ: AAPL), AT&T (NYSE: T), IBM (NYSE: IBM), Microsoft (NASDAQ: MSFT), Netscape (NASDAQ: NSCP), and Sun Microsystems’ Javasoft (NASDAQ: SUNW).
About the NetObjects Product Family
The NetObjects product family consists of NetObjects Fusion Personal Edition for entry-level site builders, NetObjects Fusion 3.0 for experienced site builders, NetObjects TeamFusion™ for site building teams and NetObjects ScriptBuilder 2.0 for scripting. All the products are the first in their class to integrate automated site building, professional quality design and publishing, thereby lowering the cost, time and tedium of building high-quality Web sites. NetObjects Fusion has won several awards including CNET’s 1997 Internet Excellence Award for Best Web Design Product and PC Magazine’s Editors Choice award. More information about NetObjects and its product can be found at www.netobjects.com.
For more information contact:
Kamini Ramani,
NetObjects,
(650) 482-3238,
kamini@netobjects.com
© 1998 NetObjects, Inc. All rights reserved. NetObjects, NetObjects Fusion, NetObjects TeamFusion, and ScriptBuilder are trademarks of NetObjects, Inc. All other brand and product names may be trademarks or registered trademarks of their respective companies.
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