Flashbase Receives Initial Venture Funding From Dawntreader LP

Business Wire, Sept 8, 1999

NEW YORK--(BUSINESS WIRE)--Sept. 8, 1999--

Flashbase Inc. (www.flashbase.com), which provides Web-hosted databases for business and consumers, announced it has received $1 million in funding from Dawntreader LP.

Steve Klein and Ed Sim, both Managing Directors of Dawntreader, will join the Flashbase Board of Directors.

"Flashbase has managed to transcend the consumer/business technology divide in offering a service which is invaluable to both consumers and businesses. Theirs is a win-win business model based on easy to use technology that can automate routine tasks as wide ranging as managing RSVPs for a party to collecting and managing resumes for human resources," said Ed Sim, Managing Director of Dawntreader.

Customers use Flashbase in a wide variety of ways to collect, manage and publish information without the burden or cost of purchasing and maintaining database hardware and software.

"Flashbase has experienced rapid growth, and Dawntreader's investment further validates our strategy and leadership position," said Flashbase President and CEO Andrew Erlichson. "We are very excited to have Dawntreader as a partner."

Flashbase was founded in 1997 by Erlichson and Mark Heinrich. Prior to starting Flashbase, Erlichson received his Ph.D. in Electrical Engineering from Stanford University. He previously held positions at Mips Computer Systems, Silicon Graphics and BlackRock Financial Management. Mark Heinrich, who also received his Ph.D. in Electrical Engineering at Stanford, is currently a professor in the School of EE at Cornell University. Heinrich is a recognized expert in the field of scalable coherence protocols and parallel computer architecture. Dr. Heinrich maintains a seat on the Flashbase board.

About Flashbase

Flashbase (http://www.flashbase.com) is the leading provider of Web-hosted database applications that help businesses and individuals capture the true power of the Internet. Flashbase enables customers to gather, manage and publish information from distributed groups of people using only a Web browser. Flashbase is a private company based in New York City. The Company is backed by Dawntreader LP (http://www.dawntreaderlp.com).

About Dawntreader

Dawntreader LP is a leading venture fund which invests in seed and early stage Internet businesses. The fund maintains a strong focus on e-commerce and companies which provide software and services that enable the digital economy. Dawntreader has made 11 investments since September 1998. Representative portfolio companies include LivePerson, WhatsHotNow.com, iPrint, ExpertCity and Flashbase. Dawntreader was founded in April 1998 by Bob Lessin, former Vice Chairman of Salomon Smith Barney and current Chairman and CEO of Wit Capital. More information on Dawntreader can be found at http://www.dawntreaderlp.com.