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hummer winblad

A WEEK BEFORE THE HUMMER WINBLAD INVESTMENT CLOSED, the May 15, 2000, issue of Business Week featured Shawn Fanning on the cover, along with the other four “most influential people in electronic business.” Napster executives were ecstatic. “It is so amazing and so cool,” CFO Lyn Jensen wrote to her colleagues. John Fanning had a different take: “I hope Shawn is going to introduce me to his 4 new friends,” he e-mailed the group. He also noted with amusement that his nephew was the only one not smiling. “The faces are great! Happy (Yahoo) Happy (eBay) Happy (Softbank) Very Happy (Amazon) and Don’t #$%$$ with me (Shawn Fanning).” By then, 73 percent of college students were using Napster at least monthly, according to Webnoize. On Monday, May 22, Jensen invited all employees to come eat and drink champagne at noon to toast the Hummer Winblad deal at Spiedo Ristorante in San Mateo, a short walk away. The staff felt incredible relief. Hummer’s cash infusion

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