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Plaxo Inc

Plaxo Inc. Secures $7 Million From Cisco Systems, Sequoia Capital and Globespan Capital Partners to Build Critical Internet Network

Mountain View, CA (ots)

Plaxo, Inc., creator of the fastest
growing contact management software and network, today announced that
it has received a $7 million round of financing, including a
strategic investment from Cisco Systems and participation from
existing investors Sequoia Capital, Globespan Capital Partners, and
angel investors. The investment will be used expand the Plaxo
Network™, gaining critical mass and increasing its value
exponentially to users.
"We are thrilled that world-class investors recognize the value
we're creating and have chosen to help build the Plaxo Network," said
Todd Masonis, Plaxo co-founder and vice president of products. "This
strategic investment will help move Plaxo into the next phase of the
company."
Since the introduction of Plaxo Contacts™ in May 2003, two
million registered members have joined the Plaxo Network, the first
robust contacts infrastructure for Internet users. Users join by
installing the free Plaxo Contacts software in their Microsoft
Outlook or Outlook Express email clients. To date, more than 30
million unique users have accessed the Plaxo Network to instantly
update their contact information. It is fast becoming an important
new layer of the Internet -- like email, instant messaging or Web
browsing.
Plaxo is dedicated to keeping people connected by solving the
common but frustrating problem of out-of-date contact information.
Plaxo Contacts is an online service that securely updates, maintains,
and provides easy access to contact information. Plaxo generates
revenue through its relationship with Yahoo!, by offering Yahoo!
Search technology directly from Microsoft Outlook and Outlook
Express, and by selling premium services, such as Plaxo VIP support.
Including this round of funding, Plaxo has raised almost $20
million from Cisco Systems, Sequoia Capital, Globespan Capital
Partners, Harbinger Venture Management, and angel investors including
Ram Shriram and Tim Koogle.
About Plaxo
Plaxo Inc. is the creator of the fastest-growing contact
management software, Plaxo 2.0. With more than 2 million registered
users, and over 30 million unique users, Plaxo has created the
critical network infrastructure that keeps people connected on the
Internet. Founded by Stanford engineers, Todd Masonis and Cameron
Ring, and former Napster co-founder Sean Parker, Plaxo, Inc. is a
privately held company funded by Cisco Systems, Sequoia Capital,
Globespan Capital Partners, Harbinger Ventures, Ram Shriram, Tim
Koogle and other angel investors. For more information or to become a
part of the Plaxo Network please visit www.plaxo.com.

Contact:

Scott Epstein
Plaxo Inc
Phone: +1/650/810-1088
E-Mail: sepstein@plaxo.com

Dariana Lau
Bite Communications
Phone: +1/415/365/0404
E-Mail: dariana.lau@bitepr.com

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