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Personal Bandwidth Company Arrives as quixi Secures $27.5 Million in Venture Capital Funding

Business Wire, Feb 28, 2000

Business & Internet Editors

NEW YORK--(BUSINESS WIRE)--Feb. 28, 2000

Flatiron Partners, Accel Partners, RRE Ventures, Kohlberg Kravis

Roberts & Co., and The New York City Investment Fund are Firm

Believers in quixi's Time Saving Solution

quixi, Inc. (www.quixi.com), the only company that allows users to maximize their personal bandwidth by simplifying everyday tasks at the touch of a button, announced today that it has secured $27.5 million in its first round of venture capital funding.

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The list of highly regarded venture capital firms that recognize the need for quixi's unique time-saving services is led by Flatiron Partners. Accel Partners, RRE Ventures, Kohlberg Kravis Roberts & Company and the New York City Investment Fund are also backing the New York-based start-up.

quixi(SM), slated to launch in the second quarter of 2000, is capitalizing on the ever increasing blur between work and home and the resulting severe time crunch. quixi blends technology with a human facilitator, allowing subscribers to communicate, find information or shop in a fast and friendly fashion, in a fraction of the time it would take to do so on their own. Customers will have access to a live quixi helper 24 hours a day, seven days a week. quixi can be accessed in whatever way is most convenient for the user -- wireless phone, e-mail, or fax. A live chat option will also be available.

"quixi recognizes that time is becoming a more precious commodity every day," says quixi co-founder Evan Marwell. "quixi is designed to help people get the most out of their personal bandwidth. If we can cut down the time it takes to do everyday tasks, people will have more time to do what's important to them."

"Other technologies don't necessarily save you time," says Robert Pines, quixi co-founder. "quixi's key point of differentiation is that we get things done for you by providing a real person to do the work. Through a quixi Helper, you can get more done, more quickly than ever."

"quixi offers convenience through the best interface of all, a real human being," says Seth Goldstein of Flatiron Partners. "The company is a strong addition to our portfolio of pervasive computing companies, which extend the utility of the Internet beyond the desktop PC."

"We have traditionally helped build companies that have a clear vision and an experienced team to bring that vision to life," says James D. Robinson, III, founder and general partner at RRE Ventures. "quixi has all these elements and an ability to execute against an aggressive and sensible business model."

"We are very selective of the types of venture investments we make each year in the Internet space," says Henry Kravis, chairman of the New York City Investment Fund. "quixi blends a business-to-business and business-to-consumer strategy that we feel is indispensable in this space."

This is the second company for Marwell and Pines. Eight years ago the two successfully launched another company, INFONXX, Inc., which today serves as the leading provider of enhanced directory assistance to wireless carriers and corporate customers in the US.

Additional information about quixi or its services can be accessed though the Internet at http://www.quixi.com.

About quixi

quixi Inc., incorporated in October 1999 and based in New York, is the world's first personal bandwidth company. quixi's time saving services increase subscribers' personal bandwidth, giving them more time for what's important to them. quixi blends technology with a real person, a quixi Helper, allowing users to: (1) communicate in a fast and friendly fashion, (2) find information, or (3) do e-commerce, in a fraction of the time it would take to do so on their own. quixi Helpers are standing by to help 24 hours a day, 7 days a week, by phone, e-mail or live chat.

About Flatiron Partners Flatiron Partners

(www.flatironpartners.com) is one of the country's preeminent Internet-focused venture capital firms. Located in New York's historic Flatiron district, the heart of Silicon-alley, Flatiron thrives off the synergy between the rapid evolution of digital technology and New York's traditional focus of content, commerce, and communications. Founded in 1996, by Jerry Colonna, Fred Wilson and Bob Greene, the firm has been a pioneer in Internet investing, helping establish and build more than two dozen companies including some of the best known companies of the Internet Age, including Geocities, ITXC, iXL Enterprises, liveprint.com, Multex.com, Reciprocal, Resonate, Starmedia, TheStreet.com, Vertical One and Yoyodyne. Additionally, Flatiron Partners is committed to the convergence of consumer electronics, wireless technology and Internet businesses. To that end, Flatiron Partners - through its `Pervasive Computing' initiative - is committing up to $50 million in companies that share this vision. Flatiron Partners is an Affiliate of Chase Capital Partners.

Business Services Industry

Personal Bandwidth Company Arrives as quixi Secures $27.5 Million in Venture Capital Funding

Business Wire, Feb 28, 2000

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