PotomacTechWire.com's Daily Email Update: A Daily Email Newsletter On Venture Capital, Start-ups And The Internet In Northern Virginia, Maryland and Washington DC

Market Wire, 20050229

Today's Edition of Potomac Tech Wire includes the following stories: DC Area Receives $944 Million in Venture Capital in Q1; Corvis Files To Raise $400 Million With IPO; thinkXML Receives $3 Million From Draper Atlantic; "ILOVEYOU" E-mail Virus Hits DC

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=================================================== POTOMAC TECH WIRE -- May 4, 2000

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Region Receives $944 Million in Venture Capital in Q1 Corvis Files To Raise $400 Million With IPO thinkXML Receives $3 Million From Draper Atlantic"ILOVEYOU" E-mail Virus Hits DC Briefly Noted: George W. Bush - Yahoo, PrimeShot.com - PictureVision, TestPros, VenturCom, BulkRegister.com, MyBizOffice - Monster.com,JunkScience.com _____________________________________________

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For Job Posting Info: http://www.PotomacTechWire.com/jobs.htm DC Region Receives $944 Million in Venture Capital in Q1

Washington, DC -- A report released today by the National Venture Capital Association and Venture Economics showed that companies in Virginia, Maryland and DC received $944 million in venture capital during the first three months of the year. This was a 270% increase over the first quarter of 1999. The report showed that 33 companies in Maryland raised $412 million, 47 companies in Virginia raised $396 million and 12 companies in DC raised $136 million. An analysis of the report by the National Venture Capital Association showed that venture capital investments in Maryland tend to be larger than investments made in Virginia. The total amount of venture capital raised in the US for the first quarter was $22.7 billion -- the three states accounted for about 5% of all venture capital raised.

Venture Capital Raised By State:

--Maryland: Q1, 2000: $412 million -- 33 companies Q4, 1999: $487 million -- 29 companies Q3, 1999: $149 million -- 25 companies

--Virginia: Q1, 2000: $396 million -- 47 companies Q4, 1999: $358 million -- 33 companies Q3, 1999: $768 million -- 44 companies http://www.nvca.org/ Corvis Files For $400 Million IPO

Columbia, Md. -- Corvis Corporation, an optical networking company, today announced that it has filed registration papers to raise $400 million through an initial public offering (IPO) of its stock. The Maryland-based company was founded by David Huber, who left Maryland-based Ciena Corp three years ago with $200 million in stock. Optical networking -- one of the most efficient means of high bandwidth transmission -- is one of the hottest technology sectors in the economy. IPOs of other optical networking companies, including Sycamore Networks, have soared over the last year. The underwriting group will include Credit Suisse First Boston, Robertson Stephens, Banc of America Securities LLC, Chase H&Q, J.P. Morgan & Co, and CIBC World Markets. http://www.corvis.com thinkXML Receives $3 Million From Draper Atlantic

Rockville, Md. -- thinkXML, a developer of business-to-business transaction systems using the XML computer language, announced today that it has received $3 million in venture capital from Draper Atlantic. The investment was Rockville-based thinkXML's first round of venture capital funding; the company had previously received about $450,000 in angel investment. thinkXML, founded in 1995, said it financed its initial product development primarily from revenue from consulting. "thinkXML's software product suite allows companies to quickly and inexpensively create B2B infrastructures using XML," said Michael Pollard, President and CEO of thinkXML, which has about 30 employees. http://www.thinkXML.com "ILOVEYOU" E-mail Virus Hits DC

Washington, DC -- Businesses and government offices throughout the DC area were affected by the "ILOVEYOU" computer virus today. The computer virus came in the form of an email and slowed down computers and e-mail systems throughout the world. Reuters reported that a Pentagon office sent the ''ILOVEYOU'' message to its mailing list, including U.S. security agencies like the Central Intelligence Agency, Civil Air Patrol, General Accounting Office, military commands and the FBI-led National Infrastructure Protection Center. By mid-afternoon, Reston-based ICSA.net, an Internet security company, said the damage from the virus could total over $1 billion.

http://dailynews.yahoo.com/h/nm/20000504/ts/tech_virus_3.html

Briefly Noted:

(Palo Alto) The Industry Standard reported today that the George W. Bush campaign has bought advertisements on Yahoo that produce banners ads for the Bush campaign when a user types in the words "George Bush." http://www.thestandard.com/article/display/0,1151,14618,00.html

(Arlington, Va.) Arlington-based PrimeShot.com and Herndon-based PictureVision announced today a strategic partnership to develop a service for professional photographers. The service will allow professional photographers to quickly upload pictures from events, so users can view prints and purchase them online. PictureVision is an independently operated, majority-owned subsidiary of Eastman Kodak Company. http://www.PrimeShot.com Va.) McLean-based TestPros, a provider of software testing and analysis services for e-commerce companies, today announced that it will provide its services to Maryland-based MillionEyes.com, an Internet service provider. http://www.TestPro.com