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Forbes: Linuxcare biding its time

Dec 15, 1999, 06:15 (0 Talkback[s])
(Other stories by Lisa R. Goldbaum)

"The Linux operating system has been at the epicenter of vast paper fortunes made on the stock market during the past several months, so it's no wonder that all eyes are turned to the next crop of Linux-oriented companies that could go public in the near future."

"Among that group of up-and-comers is Linuxcare, a company that specializes in enterprise-scale services for Linux users. It already has attracted the attentions of many deep-pocketed investors who are ready to jump on the bandwagon early, especially considering the blockbuster debut of VA Linux Systems (LNUX) last week. Linuxcare will announce Tuesday that it has completed a $32.5 million second round of funding, led by Patricof & Co. Ventures...."

"But it's the funding that will likely draw the most attention, since it further advances the company toward a state of IPO readiness. While the amount of funding the company has raised so far--about $38.5 million in the first two rounds--is considered by industry analysts to be substantial for a Linux company, that doesn't mean Linuxcare is ready to take the plunge into the public pool. "We're still building the company--it's really only a year old," notes Tyde in response to a question about when the company plans to go public."

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