In the VC Buzz newsletter
Andale and Honesty.com Merge

MOUNTAIN VIEW, Calif. and CHICAGO – Andale Inc., a provider of auction management tools and services for online sellers, and Honesty.com, a high-traffic auction community and support site, announced a merger that will create an eCommerce services network for auction merchants and large corporate businesses around the world. This network includes a wide range of auction management tools, community-based forums, and the industry's first sellers' council through Honesty's Online Traders Web Alliance. Both websites and company names will be maintained. Andale has received $62 million in financing from Bowman Capital Management, Texas Pacific Group's Tarrant Venture Partners, Accel Partners, Mohr Davidow Ventures, Oak Hill Venture Partners and other angel investors.