News & Press

Skype Founding Engineers place strategic investment in Idapted Ltd.

Beijing, PRC December 31st, 2006

Idapted Ltd. announced today the completion of its seed round financing. The Company completed the majority of its financing in August 2006 with lead investors from the Sacramento Angels and several other prominent angel investors. The Company reserved some of its round for other potentially strategic investors, which it found in Ambient Sound Investments (“ASI”), a fund made up of several engineers from Skype’s founding team. Given Idapted’s use of VoIP technology, it believes that the connection with ASI brings invaluable knowledge to the Company.

Idapted Ltd. is a Silicon Valley based technology start up, headquartered in Beijing, China and founded by two Stanford University graduates with a mission to revolutionize one-on-one language training. The Company’s Board of Advisors includes well known mentors Bill Trenchard, CEO of LiveOps (a successful teleservices company), and Russ Siegelman of VC firm Kleiner Perkins Caufield and Byers.

Ambient Sound Investments (ASI) was established by the four founding engineers of Skype, the Internet telephony company. ASI is a professional investment fund with a specific interest in technology start-ups focusing on areas ranging from software and services to applications and devices. Since March 2006 the company has invested in several sectors including telematics, biotechnology, software and services. For more information, please visit: www.asi.ee