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Auctionbytes-NewsFlash, Number 531 - May 06, 2003 - ISSN 1539-5065
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Bellamax Announces $6.3 Funding Round
By Ina Steiner
AuctionBytes.com
May 06, 2003
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Bellamax, Inc., a digital-photo enhancement service, announced it closed $6.3 million in Series B financing from lead investors BA Venture Partners and Apex Venture Partners, along with Adobe Ventures. Bellamax will use the new funds to accelerate partnership development in order to further address the needs of the rapidly growing digital photo market that produces billions of photos annually.
Bellamax's service dramatically enhances the quality of digital photos at a low cost without requiring consumers to learn and use special photo-editing software. Bellamax currently delivers its service through key partnerships with companies including Sony, through its online photofinishing site ImageStation; Epson America; Adobe Systems; and PhotoAccess. Through these relationships, Bellamax is able to address the digital photo enhancement needs of consumers while providing its partners with an essential value-added service to grow their businesses and satisfy their customers.
"By 2005, more than 80 billion digital photos will be taken every year," said Fred Mitchell, Vice President of Venture Development at Adobe. "As a result of this catalyst, there is a significant opportunity for innovative businesses like Bellamax to break ground in delivering new services to consumers."
Sharon Wienbar of BA Venture Partners and Lon Chow of Apex Venture Partners have joined the board of directors of Bellamax.
http://www.bellamax.com
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