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CNET Red Hat creates investment unit

May 09, 2000, 16:42 (0 Talkback[s])
(Other stories by Melanie Austria Farmer)

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"Red Hat, which sells software and technical support for Linux, a Unix-like operating system, today unveiled an investment unit aimed at funding open source-related start-ups."

"The company said the Red Hat Ventures division will take $500,000 to $2 million stakes in new companies specializing in open-source software and Internet infrastructure technology. Red Hat said it hopes to identify new business opportunities through the funding of start-ups."

"In recent months, the company has undergone a high-level management shuffle and has struggled with a strategy to diversify its revenues streams. The company has scaled back plans for a Linux and open-source news Web site, Wide Open News, which launched last year."

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