BBO will keep 35 of its employees on in a "transition team" during the bankruptcy proceeding, according to a press release, and plans to continue to provide service to its existing companies "until the customers can be transitioned to a new purchaser." According to bankruptcy court documents, a bankruptcy trustee hasn't yet been assigned.
Venture capital firm Kleiner Perkins Caufield & Byers funded the company--which also gained backing from Microsoft and Sun Microsystems--with several giant real estate firms coming on board as corporate partners, providing a national network footprint. The real estate firms were Carr America Realty Corp., Crescent Real Estate Equities Co., Duke-Weeks Realty Corp., Equity Office Properties Trust, Highwoods Properties Inc., Hines, Mack-Cali Realty Corp. and Spieker Properties Inc.
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