[18226] in cryptography@c2.net mail archive
[Clips] Peppercoin Secures $8 Million in Venture Funding
daemon@ATHENA.MIT.EDU (R.A. Hettinga)
Wed Aug 17 22:06:20 2005
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Date: Wed, 17 Aug 2005 14:32:14 -0400
To: cryptography@metzdowd.com
From: "R.A. Hettinga" <rah@shipwright.com>
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Delivered-To: clips@philodox.com
Date: Wed, 17 Aug 2005 14:31:40 -0400
To: "Philodox Clips List" <clips@philodox.com>
From: "R.A. Hettinga" <rah@shipwright.com>
Subject: [Clips] Peppercoin Secures $8 Million in Venture Funding
Reply-To: rah@philodox.com
Sender: clips-bounces@philodox.com
From: Peppercoin, Inc. [mailto:announcements_signup@peppercoin.com]
Sent: Wednesday, August 17, 2005 11:38 AM
To: <snip...>
Subject: Peppercoin Secures $8 Million in Venture Funding
<http://rs6.net/tn.jsp?t=c4afcobab.0.mismf8n6.foladxn6.544&p=http%3A%2F%2Fwww.peppercoin.com%2F>
News & Updates
August 17, 2005
Greetings,
Over the last year, Peppercoin has worked closely with financial services
institutions to develop the leading solution for small payments. The
successful close of our recent funding round validates our vision - to
enable convenient and profitable credit and debit card use for small
payments.
Peppercoin Secures $8 Million in Venture Funding to Drive Adoption of
Card-Based Small Payments
Leading Small Payments Company's President is Named Chief Executive Officer
WALTHAM, Mass.-August 17, 2005-Peppercoin, a payments technology company
that enables profitable new business models for low-priced digital content
and physical goods, today announced it has secured $8 million in funding.
The financing round, led by venture capital firm Wall Street Technology
Partners, includes previous investor Pod Holding and a large, Boston-based
institutional investment adviser; several private individuals returned to
participate in the round as well. Peppercoin also announced that Mark
Friedman has been named president and chief executive officer. As
president, Friedman forged strong ties with the financial institutions,
including First Data and Chase, that have helped drive adoption of
Peppercoin's Small Transaction Suite.
"Wall Street Technology Partners invests in companies that reshape their
markets," said WSTP Partner Adam Lichtenstein. "Peppercoin is an exciting
investment because the company has quickly seized a leadership role in
establishing the 'small payments' category, and is working collaboratively
with the large, established financial institutions that operate today's
credit and debit payment systems. We are impressed by the company's
seasoned team, and the progress they have made in garnering merchant
adoption of their service and generating interest in the transition from
cash to card."
"Since Pod Holding first invested in Peppercoin's initial funding round, we
have been impressed with the company's ability to continually surpass its
stated business and technical goals," said Peter Lawrence, founding partner
of Pod Holding. "The management team's progressive, agile approach to small
payments has led to superior technology that appeals to leading financial
services companies, and as a result we have strengthened our partnership
with the company."
"Wall Street Technology Partners and our existing investors are validating
Peppercoin's business model as we continue to sign new merchants and build
strong relationships with the leading global payments companies," said Mark
Friedman, president and CEO of Peppercoin. "Merchants embrace our product
as they find it provides an engine for revenue growth. Similarly, financial
services entities value the increased payment volumes our offering brings
them. We will be rolling out several advanced capabilities in coming months
which enable a blend of prepaid, subscription, pay-as-you-go and post-paid
merchant offerings."
Consumers are demonstrating a clear and growing preference to use their
credit and debit cards for physical, digital and mobile purchases of all
sizes. Each year, consumers in the United States make more than 350 billion
transactions of less than $5, representing $1.32 trillion in aggregate
revenue. This presents a significant growth opportunity for the credit and
debit card market, and Peppercoin is at the forefront in providing a
solution that allows merchants and financial services institutions to
card-enable their transactions, capture a larger market share with flexible
business models, and drive new revenue streams. Over the past year,
Peppercoin has realized success with merchants and financial services firms
such as First Data, Chase Merchant Services, and SunTrust Bank.
About Wall Street Technology Partners
About Wall Street Technology Partners Wall Street Technology Partners LP
(WSTP) is a New York-based technology fund founded in 2000. The fund
invests in mid-to-late stage US-based technology and media companies across
a wide industry spectrum, including software applications, servers and
storage, semiconductors, wireless, energy, telecom systems and enterprise
and carrier networks. WSTP has in excess of $125 million of capital under
management. WSTP site:
<http://About%20Wall%20Street%20Technology%20Partners>www.wallstreettp.com.
About Pod Holding
Pod Holding is a private equity firm located in Boston and Stockholm that
invests in leading Information and Communication Technology (ICT)
companies. Founded in 2000, Pod Holding's deep domestic presence and
investment activity in both the US and Nordic countries provide unique
knowledge, insights and opportunities for successful company-building in
each region. When combined with Pod's experienced team of investment
professionals and strong global relationships across the ICT industry, the
result is a unique US-Nordic franchise that drives growth and value for Pod
Holding's portfolio companies and partners. For more information, please
visit: <http://www.podholding.com>www.podholding.com.
About Peppercoin, Inc.
Peppercoin enables profitable new business models for low-priced digital
content and physical goods. Peppercoin's small payment products help
merchants, banks, and other payments companies build market adoption
quickly through a flexible, consumer-friendly approach. Peppercoin
integrates easily with existing business models and payment systems to
accelerate revenues and increase profits. For more information please visit
<http://www.peppercoin.com>www.peppercoin.com.
Investors
<http://www.podholding.com/>
<http://www.wallstreettp.com>
Media Articles
Big Opportunities in Small Transactions
The Green Sheet
06/28/2005
<http://www.greensheet.com/PriorIssues-/050602-/default.htm>Read more
Big Bucks in Micropayments
Information Week
05/18/2005
<http://www.informationweek.com/showArticle.jhtml?articleID=160900649>Read
more
To contact Peppercoin sales,
<http://rs6.net/tn.jsp?t=c4afcobab.0.mvjk86aab.foladxn6.544&p=http%3A%2F%2Fwww.peppercoin.com%2Fsales.shtml>click
here
To view all press releases,
<http://rs6.net/tn.jsp?t=c4afcobab.0.nvjk86aab.foladxn6.544&p=http%3A%2F%2Fwww.peppercoin.com%2Fpress%2Fpressreleases.shtml>click
here
© Copyright 2005 Peppercoin, Inc. All rights reserved.
<snip...>
Peppercoin | 200 West Street | Waltham | MA | 02451
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R. A. Hettinga <mailto: rah@ibuc.com>
The Internet Bearer Underwriting Corporation <http://www.ibuc.com/>
44 Farquhar Street, Boston, MA 02131 USA
"... however it may deserve respect for its usefulness and antiquity,
[predicting the end of the world] has not been found agreeable to
experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire'
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--
-----------------
R. A. Hettinga <mailto: rah@ibuc.com>
The Internet Bearer Underwriting Corporation <http://www.ibuc.com/>
44 Farquhar Street, Boston, MA 02131 USA
"... however it may deserve respect for its usefulness and antiquity,
[predicting the end of the world] has not been found agreeable to
experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire'
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