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Upside: PenguinRadio gets the go-ahead

Jul 05, 2000, 23:43 (0 Talkback[s])
(Other stories by Sam Williams)

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"...PenguinRadio seems to be weathering the recent market fluctuations better than most Linux-related startups. Last week the company announced what it called "an infusion of venture capital" from Internet Partnership Group, a London-based tech incubator."

"Although the company has refused to disclose the amount of money invested by the Internet Partnership Group, Leyden says it will be enough to help his Washington, D.C.-based company build out both its office staff and device design staff. More importantly, Leyden says, it offers solid proof that investors will buy into a good Internet story."

"This is particularly significant as competition in the Internet radio sector heats up. Last week 3Com (COMS) announced plans to acquire Internet radio company Kerbango for $80 million and Nokia (NOK) signed a partnership with streaming audio software company RealNetworks (RNWK) to install Real software on its wireless phones."

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