Stealth startup takes in first lump of cash

Austin Business Journal – 8.28.2006 – 11:47 AM CDT Monday

A new company called iTaggit raised $1.04 million from some big-name backers in its Series A offering.

iTaggit is working on Web-based services and products to help people manage their personal assets. Further details about what the company plans to do was not disclosed. iTaggit plans to launch its service in the fourth quarter of 2006.

The company was founded by CEO David Altounian, founder of Austin-based Motion Computing Inc.,
and Charles Zeller, iTaggit’s senior vice president of development.
Altounian remains on Motion’s board of directors, patent committee,
technology advisory board and product strategy steering group.

management team members include Senior Vice President of Creative and
Human Factor Duncan Hopkins, founder of design firms Syndetic Design
and BeyondBeyond, and Senior Vice President of Business Operations Sara
Fox, who has held sales and marketing positions at IBM Corp.

The company raised funding from individuals, including Mike Maples Sr., a former senior executive at Microsoft Corp. and executive vice president of the worldwide products group; Ted Rappaport, founder of Wireless Valley Communications Inc.;
Ed Esber, former chairman and CEO of Ashton-Tate and chief operating
officer at Creative Labs; Rudy Garza, managing general partner at
venture capital firm G51 Capital; and Austin entrepreneur Steve Vandegrift. Altounian and Zeller also helped fund the company.

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