According to PaidContent.org, "AOL is trying to buy an online media/files storage company, and is the front runner at this point...other companies in the race include the usual suspects."
Company was previously backed by Goldman, Dawntreader, J&W, NEC, Softbank Japan, Veritas, CNET, among others. Apparently it seems the company ceased operations (6/02 according to venturesource) and then rose back up from the dead
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