View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
August 6, 1997updated 03 Sep 2016 5:01pm

CYBERCASH RAISES $15M IN PRIVATE PLACEMENT

By CBR Staff Writer

As we predicted in April (CI No 3,151) CyberCash Inc has received a much-needed cash injection. The Reston, Virginia secure internet transaction specialist, has raised $15m in equity capital through a private placement of convertible preferred stock to two private equity funds. The company believes that the cash infusion, coupled with spending controls it has recently implemented, should carry it through to profitability. Last month, CyberCash reported a second-quarter net loss of $6.3m on revenue of only $812,000. The company has said the key to becoming profitable is to sign contracts for its internet payment services with major financial institutions, as opposed to other technology companies.

Content from our partners
Green for go: Transforming trade in the UK
Manufacturers are switching to personalised customer experience amid fierce competition
How many ends in end-to-end service orchestration?

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU