From: Rohit Khare (rohit@uci.edu)
Date: Tue Mar 14 2000 - 10:18:49 PST
Closed SourceForge? <duck> :-)
Time to drag out Whitehead, et al, towards a sw component marketplace?
===========================
FOR IMMEDIATE RELEASE
IntellectMarket to Catalyze Component Software Market
Company formed by software business veterans receives angel round
financing; unveils business-to-business component software system
Santa Rosa, Calif., Feb 25, 2000 -- Software industry and business
development veterans Chris Lamela and Steven Harrison today announced
the formation of IntellectMarket, Inc., an Internet and software
start-up dedicated to the widespread utilization of software
components through business-to-business strategic development.
IntellectMarket has received angel-round funding from such technology
industry luminaries as Denny Van Ness, a former partner at Hambrecht
& Quist, and Tim O'Reilly, CEO of O'Reilly & Associates. Van Ness and
O'Reilly have also joined the Board of Directors of IntellectMarket.
Analysts estimate the software components market in 2000 will be $7
billion with growth projections by 2003 ranging from$30 to $60
billion. IntellectMarket's business model recognizes that in addition
to having access to externally-developed software components that are
readily available via the Internet, businesses need assistance in
cataloguing their existing components and conceptualizing how to
maximize their use. Capitalizing on the need is an integral part of
IntellectMarket's strategy.
"IntellectMarket's private corporate exchanges system will unleash
the component market's long-anticipated growth by facilitating their
usage in the Fortune 500," said company CEO Chris Lamela. "With
15,000 resellers of components there's no shortage of software. The
challenge is in building the systems and support medium that large
businesses require before making such a major commitment to changing
their software development processes. Our technology, experience, and
partners provide that reassurance."
IntellectMarket is building a top-level management team. Chris Lamela
combines executive experience as CEO of a French semiconductor
company with embedded software engineering experience with such
companies as ROLM, California Microwave, and Motorola. COO and CFO
Steven Harrison has held operations and financial positions in
start-up to large corporations, including experience in corporate
acquisitions.
Tim O'Reilly, whose publishing and information services company has
been a key player in starting several technology revolutions,
including the commercial internet and the open source movement, says:
"Along with open source, software components represent one of the
great changes in the way software is being developed. Both approaches
allow corporations to make better use of their intellectual assets
and to avoid reinventing the wheel. The IntellectMarket exchange will
foster sharing of software components and other reusable code both
within a corporation and in a marketplace with other corporations and
independent developers."
The company is already in negotiations with companies in the Fortune
100 and is on schedule to launch the first release of its global
software component exchange network in the third quarter of 2000.
About IntellectMarket
IntellectMarket, Inc., was formed in September 1999 to collect and
serve software components and the knowledge necessary to maximize
their use. Founded by business development leaders Chris Lamela and
Steven Harrison, IntellectMarket aggregates software components for
access via the Internet, provides consulting services to medium and
large corporations for maximizing internally and externally-developed
components, and provides the technology necessary to do so. More
information about IntellectMarket can be found at
www.intellectmarket.com.
IntellectMarket are service marks and trademarks of IntellectMarket, Inc.
Contact:
Chris Lamela
CEO, IntellectMarket, Inc.
707-575-3000
email Chris_Lamela@IntellectMarket.com
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