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Jabber.com set to receive new funds

Webb Interactive Services, parent company of Jabber.com, has signed a deal that will let it give up to $3 million to the instant-messaging software developer. Under the deal, Jona, which specializes in technology investments, will purchase five million units of Webb securities for $5 million. Webb said each unit consists of one share of common stock and one warrant to purchase for $1 an additional share. Webb said Jona has purchased 1.1 million units and loaned the company an additional $900,000. The purchase of the remaining units in the deal and an additional 2.5 million units is subject to shareholder approval. In October, Jabber launched Jabber Everywhere, a program that lets software developers download a version of its IM software for free. Jabber's commercial product is based on the work of open-source group Jabber.org, whose code is available for free and licensed use.

    Webb Interactive Services, parent company of Jabber.com, has signed a deal that will let it give up to $3 million to the instant-messaging software developer. Under the deal, Jona, which specializes in technology investments, will purchase five million units of Webb securities for $5 million. Webb said each unit consists of one share of common stock and one warrant to purchase for $1 an additional share. Webb said Jona has purchased 1.1 million units and loaned the company an additional $900,000. The purchase of the remaining units in the deal and an additional 2.5 million units is subject to shareholder approval.

    In October, Jabber launched Jabber Everywhere, a program that lets software developers download a version of its IM software for free. Jabber's commercial product is based on the work of open-source group Jabber.org, whose code is available for free and licensed use.