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FVC.com (Nasdaq: FVCX) rose 1 7/16 to 4 13/32 Friday after the company, which provides two-way video services over the broadband Internet, received a $27.4 million investment from Vulcan Ventures.
Vulcan, led by Microsoft (Nasdaq: MSFT) co-founder Paul Allen, bought preferred stock convertible into about 3.4 million common shares at $8 a share, as well as warrants to buy another 850,000 shares at $7 each.
"We see the time is ripe for video to go mainstream as the broadband Internet's killer application," said FVC.com Chairman Ralph Ungermann. "Vulcan shares this vision and is investing in FVC.com to help make it a reality, creating an environment where face-to-face communications 'humanize' the Internet."
