completes private placement financing of $24 million

Published on ., creator of beenz Web currency, received an additional $20 million in its third round of private funding, in the form of Series A convertible preferred stock, from several investors including Japanese communications and retailing company Hikari Tsushin, Oracle Corp. CEO Larry Ellison and Gefinor Group. The funding will go toward growth and expansion, marketing and developing the beenz technology. Prior to this round, the company raised $3.8 million in seed capital.

Copyright September 1999, Crain Communications Inc.

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