January 29, 2000 |
Idealab received an investment last month that values the Pasadena Internet business incubator at $7.46 billion. Hikari Tsushin, a Tokyo-based telecommunications firm, paid $100 million for a 1.34% stake in Idealab to "pursue financial and strategic opportunities," according to a notice released by the firm. The investment has already begun to pay off: Hikari Tsushin is preparing to launch a joint venture with an Idealab firm, Intranets.com of Woburn, Mass. The venture, Intranets Inc.