HP, Apple invest in Ofoto

Despite the collapse of most of the dotcom industry, investors are continuing

to fund new online ventures that offer promising online services to businesses

and consumers. Hewlett-Packard and Apple Computer said they were among a group

of investors who are putting up another $1 million in funds for start-up Ofoto.

Ofoto is an online service where consumers can upload their digital pictures

for image storage, editing and print processing. At a relatively small fee,

Ofoto prints images using advanced HP digital photo color printers. Besides

simple photos in different sizes, companies like Ofoto also offers services such

as letting consumers create greeting cards, stickers, buttons and other gizmos

using their own photos.

In all, Ofoto, which is located in Emeryville, about 30 miles from Silicon

Valley, has raised some $57.5 million. It will use the newly acquired start-up

capital to expand services, including wallet-sized prints, a product Ofoto has

found to be in high-demand among its customers.