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Editorial Contacts:
Rebecca Wan
Webvisions Pte Ltd
(65) 773-9388
rwan@webvisions.com
Phyllis Heng
Asia-Pacific Connections Pte Ltd
(65) 334-9045
phyllis@apconnections.com
WEBVISIONS RECEIVES S$4 MILLION INVESTMENT FROM
WALDEN INTERNATIONAL INVESTMENT GROUP
Singapore, 3 December 1999 - Webvisions Pte Ltd, Singapore's leading web hosting company, today announced that Walden International Investment Group has made a investment of S$4 million for a strategic stake in Webvisions. This additional capital will be used to fund Webvisions' regional expansion and contribute toward the building of a chain of Internet Data Centers throughout the Asia-Pacific region. The first, in Singapore, is scheduled to be fully operational by January 2000.
Walden International Investment Group (WIIG), an international venture capital firm, targets investments in high growth industries including Internet, communications, software and computer products.
"Predicted to grow at 56% CAGR, the number of Asia-Pacific Internet users will likely reach 202 million by 2003. This expected rapid adoption of the Internet in the region will generate explosive growth figures for web hosting infrastructure services," said C.C. Tang, Managing Director of the WIIG. "With a customer base already exceeding 3,000, Webvisions is well-positioned to capture a sizeable share of this new market for Internet hosting services. We look forward to assisting Webvisions in its regional expansion."
"Walden's investment is timely," said Chief Executive Officer of Webvisions, Roger Lim. "Our growth rate has been exponential, as we have seen a fourfold increase in revenues in the last year alone. Walden's financial injection will allow us consolidate our market position and move decisively into the rest of Asia."
The new Data Center in Singapore will be one of the first independent, dedicated hosting facilities in the Asia-Pacific region. It will augment Webvisions' current range of Internet services, which cater to mission-critical Internet businesses including Internet portals, corporate extranets, and web and ASP applications. Webvisions' customer base currently includes regional search engine CATCHA.COM, Microsoft Singapore Pte Ltd, Miller Freeman Pte Ltd, Nikon Singapore Pte Ltd and Shaw Renters Pte Ltd.
About Webvisions Pte Ltd
Webvisions Pte Ltd, founded in 1996, is Singapore's leading web hosting provider. Webvisions hosts over 3,000 businesses internationally and provides a comprehensive range of dedicated web hosting services, such as E-commerce,server co-location, application and database hosting, to its regional and international clientele. For more information on Webvisions, visit the company's Web site at http://www.webvisions.com.
About Walden International Investment Group
The Walden International Investment Group, headquartered in San Francisco, is an international venture capital firm managing funds in excess of US$950 million. Since 1987, WIIG has invested in over 200 companies worldwide, including more than 40 publicly-listed ones. WIIG provides seed and start-up funds for emerging-growth companies, as well as capital for expansion financing and acquisitions. WIIG has 14 offices throughout Asia-Pacific, Israel and the United States. Through WIIG's in-house team of investment professionals and its network of international offices and partners, WIIG seeks to help its portfolio companies to gain access to capital, technology transfer, strategic alliances, international manufacturing and marketing opportunities. More information on WIIG and its investment strategies can be found on the World Wide Web at http://www.wiig.com.
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