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Haht Commerce Files for $75 Million IPO


LocalBusiness.com reported that Raleigh's Haht Commerce has filed for an initial public stock offering valued at $75 million. Haht, which enables a company's existing databases and computer systems for e-commerce, did not announce the price range or number of shares it expects to offer because. The company did announce that it expects to trade on the Nasdaq stock market under the symbol "HAHT." In its filing with the U.S. Securities and Exchange Commission, Haht reported revenue of $10.7 million and a net loss of $13.7 million for the 2000 fiscal year ended April 30.

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TalkingNets Raises $20 Million Second Round


TalkingNets, a Wilmington-based application service provider focusing on telephony, has received $20 million in second-round funding. The company, which plans to launch its services in its first two markets soon, has developed a network of softswitches which are software telephone software switched that operate on server computers, according to LocalBusiness.com. With the newest round of funding, company officials said TalkingNets plans to ramp up to 50 employees by the end of the year

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TruePilot Partners with Lycos Ventures


According to the News and Observer, Durham-based TruePilot has allied itself with Lycos Ventures, a $75 million venture capital fund based in Pittsburgh, PA. TruePilot, founded in May 2000 by OpenSite Technologies founder Michael Brader-Araje, is an early-stage investment firm that invests primarily in entrepreneurial Internet and wireless infrastructure companies. TruePilot's deal with Lycos, which is part of Lycos Venture's Regional Entrepreneurship Partner (REP) Program, promotes interaction between Lycos Ventures and early-stage local partner investors in key technology development areas across the United States. Walker Ventures of Washington D.C. also joined Lycos REP Program.

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Raleigh's ProMedex Sold


ProMedex has been sold to Atlanta's Landacorp for cash, stock and options, the News and Observer reported. ProMedex, which is the nation's largest provider of disease-management programs, was purchased in April by Chicago's InLight, an Internet venture that went out of business over the summer. Officials at Landacorp said layoffs among ProMedex's more than 100 employees are not likely.

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IBM to Offer Software for Linux


According to the News and Observer, IBM has launched a software suite of business software tools that can run on Linux, the free operating system revolutionized by Durham-based Red Hat. In response to IBM's announcement, Red Hat announced that it will resell IBM's product suite bundled with copies of Red Hat Linux. Company officials said the Linux software will compete with Microsoft's Office software.

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Centennial Campus to Open US Patent Partnership Library to Serve Triangle Patent Growth


Due to the large number of patents awarded to Triangle residents, the U.S. Patent and Trademark Office has asked N.C. State University if it wants to open a satellite office on Centennial Campus. The office, to be called a Partnership Library, would be the fourth in the country, joining offices in Silicon Valley, Detroit and Houston. "Research Triangle is one of the fastest-growing points in our country and has a significant number of filings of patents," said Michael Hydorn, manager of partnership libraries for the federal government. N.C. State is working up a proposal and should hear from the Patent Office by early 2001. It would cost the university about $170,000 in start-up costs and $30,000 a year to run the office.

The Triangle ranked 25th of 318 metro areas last year in the number of patents granted, up from 50th 10 years ago. NCSU already has a Patent and Trademark Depository Library at its main library, where copies of every patent are on file. A partnership library would offer the same services available at the Patent Office in Washington, including a secure video-conferencing environment so patent lawyers could meet with Patent Office examiners to discuss applications and argue for acceptance without having to travel to Washington; a secure and fast connection to the same databases that patent examiners have; and fully interactive continuing education lectures for lawyers and paralegals via the video conferencing connection. The lecture series would be specific to patent and trademark law, and run once or twice every week.

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This Month at EntreWorld: Building with Boards


Having experienced, prestigious business leaders on its board of advisors or directors can enable a start-up to hit the ground running. Board members offer industry connections, valuable advice and tips for overcoming obstacles. To read more about the importance of a company's board of directors, check out this month's Entrepreneur's Bylines: http://entreworld.org/Content/EntreBylines.cfm

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BuildNet, SciQuest Lay Off Employees


Two local B2B e-marketplaces, SciQuest.com and BuildNet, have recently announced downsizing of their workforces. Morrisville-based SciQuest announced a large restructuring plan aimed at limiting losses and boosting profits which eliminated 40 positions. BuildNet laid off about 70 workers, or about 18% of its workforce following the company's withdrawal of its $230 million IPO the week beforehand.

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Events Update




November 13th — Biotechnology Roundtable

November 14th — EntreForum

November 14th — Start-Up: Success or Failure?

November 15th — Emerging Industrial Technologies Roundtable

November 16th — New Member Orientation

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