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Siebel lets Sales.com stand alone

Published on .

San Mateo, Calif.--Siebel Systems, San Mateo, Calif., said Thursday it has officially spun off its wholly owned subsidiary Sales.com. The new venture has raised $27 million in funding from a group led by Siebel, Sequoia Capital and U.S. Venture Partners. The move is significant because Sales.com is one of a handful of Internet portals, including competitors interact.com and the Internet start-up Salesforce.com, aimed at an estimated 42 million sales professionals. As a separate company from Siebel, whose bread and butter is selling software to corporate sales departments, Sales.com could escalate competition in the sector through aggressive marketing and the introduction of new services.
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