Lycos, Inc. (NASDAQ:LCOS) today announced that LycosLabs, its early stage business accelerator and incubator, has made its premier investment in Boston-based thinkingBytes Technology, Inc., a new wireless provider of applications for the Personal Digital Assistant (PDA) market (e.g. Palm Pilots and Handspring Visors). The thinkingBytes product family enables users to organize and view content from Web sites and corporate databases. thinkingBytes has co-located at LycosLabs offices and the companies are actively working together on developing business strategy, rapid software development, marketing, corporate development, and accelerated hiring. LycosLabs top wireless strategist has taken an active seat on the thinkingBytes board of directors, and is providing insights and contacts with many influential partners in wireless markets.
thinkingBytes' family of products is an impressive offering based on a relational database that provides power and flexibility to end users and developers. thinkingBytes products, including the flagship thinkDB, are already being used by thousands of users. thinkingBytes will continue to market the applications directly to PDA users from its Web site (http://www.thinkingbytes.com). The company will be actively extending its network of PDA developers to deliver additional value added applications.
"thinkingBytes has developed a product suite focused on ease of use and robust database features for personal and enterprise applications," stated Joseph Baron, thinkingBytes CEO and co-founder. "LycosLabs offers great counsel and advice on business and technical topics, accelerating product development and innovation. This power coupled with Lycos's nearly 33 million users broadens our reach and potential for explosive growth as well as placing us in a stronger position to strike business alliances with Web partners, software developers, and corporate IT managers"
"After reviewing hundreds of business plans, it was clear to us that thinkingBytes was one of only a handful of players that had a really well thought-out wireless strategy that included the PDA market," said Jeff Crown, vice president and general manager of LycosLabs. "We believe their products will deliver incredibly high value to Lycos users, and we can offer thinkingBytes distribution access to nearly 33 million Lycos users that is an unprecedented advantage for a company at their early stage."
The investment in thinkingBytes demonstrates the LycosLabs' commitment to fund up to a dozen young companies in the wireless, direct marketing, and infrastructure market space each year. LycosLabs can offer guidance and consulting on engineering, Web site operations, marketing, corporate development, as well as providing massive distribution to its nearly 33 million users.
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