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AtomShockwave Taps Another $22.9 Million

The newly renamed AtomFilms and Shockwave combined company, AtomShockwave Corp., has announced the closing of its latest round of financing of US$22.9 million. Leading the round was Macromedia, parent company of Shockwave, along with Sequoia Capital, JPMorgan Entertainment Partners, Arts Alliance, Waterview Partners and affiliates and Intel Capital. The new company plans to retain its two distinct brands, AtomFilms and shockwave.com, as well as strengthening its offices in Tokyo and London. In addition, AtomShockwave announced the new combined company's board of directors which consists of: Rob Burgess, chairman and CEO of Macromedia and chairman AtomShockwave; Richard Barton, president and CEO of Expedia, Inc.; Robert A. Daly, chairman and managing partner of the Los Angeles Dodgers; Thomas Høegh of Arts Alliance; Michael Moritz of Sequoia Capital; and Mika Salmi, CEO of AtomShockwave. "The combined strengths of the two brands, AtomFilms and shockwave.com, are the foundation for AtomShockwave's success," said Robert Egan, managing director, JPMorgan Entertainment Partners. "The AtomFilms syndication model and its prestigious catalog of quality short films and animations, coupled with shockwave.com's mass audience and cutting-edge interactive content, create an unparalleled entertainment powerhouse." AtomShockwave is projecting profitability by the end of 2001.

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