MOUNTAIN VIEW, Calif.--Dec. 15, 1997-- PlanetWeb, Inc., a leading developer of consumer Internet software, today announced additional funding from Toshiba Corp.; Pulsar International, S A de C.V.; and, Arrow Capital Management Inc.; raising the company's valuation to $100 million. PlanetWeb continues to be one of the few Internet-via-appliance software companies shipping in volume, offering consumers access to the World Wide Web through consumer electronics devices such as video games and video phones. The investment represents a substantial increase in company valuation from $17.15 million assessed in June 1996, when the company sold stock to Sega Enterprises, LTD; Itochu Corp. (Japan); and, Itochu Technologies, Inc. The current funding from outside investors leaves the majority of stock under the control of PlanetWeb. Kamran Elahian, CEO and chairman, PlanetWeb, said the recent funding, "gives PlanetWeb the ability to accelerate its already impressive momentum. We are delighted to be able to continue to provide consumers affordable access to the Internet, without requiring a PC." Adding to Elahian's enthusiasm, Hidetaka Yamamoto, general manager, Toshiba Corp., said, "We are looking forward to a bright future with PlanetWeb, a company whose Internet software solutions, we believe, will not only serve the Internet appliance market well, but will have longevity in the years to come." The almost two-year-old company was formed in March 1996 by Elahian, Ken Soohoo, CTO and vice president of Engineering, PlanetWeb, and a team of graphics and consumer software developers. Just seven months after they began, the company delivered its first product, the PlanetWeb Browser, designed with the Sega Saturn(R) Net Link in mind. Since then, the Browser has been selling in volume as the World Wide Web browser and email application for the Sega Saturn(R) Net Link game system in the United States and Brazil. In addition to browsing capabilities, the PlanetWeb Browser offers a comprehensive parental control filtering system and has recently been enhanced with Chat (IRC) capabilities. This year, PlanetWeb partnered with several companies including 8x8, Inc. and Zilog, Inc. Bundled with 8x8's ViaTV videophones, PlanetWeb software gives ViaTV users Internet access as well as visual communication. PlanetWeb's partnership with Zilog, Inc., a major semiconductor supplier to the television industry, resulted in the development of an integrated hardware/software solution that allows OEMs to build consumer set-top boxes for less than $200. With continued financial backing, Elahian said plans for the company are to make Internet access as easy as turning on the stereo, or popping in a videotape, in most any room in the house. "The market potential for low-cost consumer Internet appliances is enormous," said Elahian. "Of course with any new technology, there's usually a curve to get beyond but once it's established, users don't think about it anymore. They just use it." While Elahian feels the Internet-via-appliance technology hasn't quite made it past the curve, he feels "we're starting to close in." Management at PlanetWeb said the company is presently in the market for a president to join other recent additions to the staff including Stephen Li and Joseph Rodgers. Li, who joined the company last August as vice president of Business Development and Sales, brings more than nine years experience as a senior executive. Most recently he served as vice president of Business Development at Wind River Systems, overseeing the company's telecom and networking marketing strategy. Rodgers also joined PlanetWeb this year as acting CFO and as a member of the Board. Rodgers was formerly with Quantum where he served as CFO for 16 years. Fernando Mosquera