WordCruncher Inc, which last week went public by reversing into a shell company, has announced some additional financing from unnamed investors that have taken just over 10% of the company for a seven figure sum, according to the company’s senior VP and chief financial officer, Ken Bell (07/27/98). WordCruncher is working on internet-enabling its proprietary search technology that has been used in academia and other forms of research for more than a decade. At the beginning of this year. Alpine, Utah-based WordCruncher held an auction by faxing a proposal to sell its technology to about 40 of the top technology companies. That strategy didn’t work, so it sought alternative financing and yesterday’s investment was apparently dependent on the company floating itself successfully. The internet version of the eponymous technology won’t appear in alpha form until towards the end of the year.
