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Press Release
Viador Inc. Secures Funding
Sunnyvale, Calif., March 14, 2002. PRNewswire-FirstCall via COMTEX/ -- Viador Inc.(TM) (OTC Bulletin Board: VIAD), a self-service portal product provider, announced today that it had entered into an agreement providing for up to $3 million in convertible debt financing. Under this agreement an initial $1 million will be made available to the company on March 21, 2002. An additional $2 million can be used at the Company's option. The financing was offered through existing investors. CEO Stan Wang noted, "We've accomplished a lot during the past several months. The company is now balanced and capable of growing profitably in 2002. Major customer and partner relationships have actually grown stronger during the past year. We've refined our vision and strategy and are focusing and adding to our software development resources to deliver expanded functionality in both business intelligence and the portal later this year. We are now looking to the future and the next phase of our growth."
About Viador Inc.
Viador Inc. combines proven experience, technology and partnerships to deliver Business Intelligence for leading businesses and organizations worldwide. Viador offers the best BI development tools for SI/ISV partners and Enterprise customers by providing a platform that is highly customizable, allows the addition of new features on demand, requires zero client maintenance, offers quick and reliable deployment and the industry's lowest TCO. Viador is headquartered in Redwood Shores, Calif. For more information, contact Viador at calling (650) 551-6000, Fax (650) 551-1200, email press@viador.com, or visit the Viador website at www.viador.com.
Viador Safe Harbor
Statements in this release that are forward looking involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to be materially different from any future performance that may be suggested in this release. Such factors may include, but are not limited to, its ability to obtain additional financing, demand for and market acceptance of the Company's products and services, expansion into international markets, introductions of products and services or enhancements by the Company and its competitors, competitive factors that affect the Company's pricing, the timing of customer installations, the mix of products and services the Company sells, the timing and magnitude of capital expenditures (including costs relating to the expansion of operations), the size of customer orders, the hiring and retention of key personnel, conditions specific to the internet industry and other general economic factors, and new government legislation or regulation. Reference is made to the discussion of risk factors detailed in the Company's filings with the Securities and Exchange Commission, including its reports under the Securities Exchange Act of 1934, as amended. Viador assumes no obligation to update any forward-looking statements contained in the press release.
EDITORS NOTES: Viador and the Viador E-Portal are trademarks of Viador Inc. of Sunnyvale, California. All other products or company names mentioned are used for identification purposes only, and may be trademarks of their respective owners.
SOURCE: Viador, Inc.
Media Contact for Viador:
Viador Inc.
650.551.6000
press@viador.com
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