Warburg Pincus Pumps $21Million in iUniverse.com
Thursday, January 11, 2001
CAMPBELL, Calif. iUniverse.com, provider of the world's leading digital publishing infrastructure technology, today announced it has secured $21 million in venture capital financing from Warburg Pincus and that Warburg Pincus has reserved additional capital for future investment in the company. The investment, made by Warburg Pincus technology group, will support rapid expansion of iUniverse's digital platform, which is emerging as the key technology for providing mass customization, personalization and print-on-demand (POD) services within the publishing industry and beyond. "Warburg Pincus' investment is a tremendous validation of our technology and vision for digital content publishing, distribution and management," said iUniverse CEO, Richard Tam. "In the coming year, we intend to solidify our position as the technology of choice and continue to transform the publishing industry." "Our decision to invest in iUniverse is based largely on the long-term value we see in the company's business model and technology," said Stewart Gross, Senior Managing Director of Warburg Pincus. "Customized content creation and POD delivery are the next major milestones in the evolution of publishing technology, allowing content publishers to reach new customer markets with specific information requirements. As a provider of digital publishing infrastructure services, iUniverse is uniquely positioned to exploit these emerging trends."