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Short Take: Odigo snags $15.4 million in financing

Instant messaging service provider Odigo says it has secured $15.4 million in private placement financing led by Lazard Technology Partners. Launched in December 1999, the free Odigo application works with other instant messengers including Yahoo Messenger and America Online's AOL Instant Messenger and ICQ software. The cash infusion comes two months after the company reported signing up some 2 million consumers and as the Federal Communications Commission reviews AOL's proposed merger with Time Warner.

Instant messaging service provider Odigo says it has secured $15.4 million in private placement financing led by Lazard Technology Partners. Launched in December 1999, the free Odigo application works with other instant messengers including Yahoo Messenger and America Online's AOL Instant Messenger and ICQ software. The cash infusion comes two months after the company reported signing up some 2 million consumers and as the Federal Communications Commission reviews AOL's proposed merger with Time Warner.