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Arsenal Loads $23M: Page 3 of 3

That's not to say Arsenal didn’t go through its own slash-and-burn
phase. At the end of 2000, Arsenal employed 165 people. In early 2001, the
company laid off 100 employees -- nearly two-thirds of its workforce -- in three
rounds of job cuts.

Founded in August 1998 as Usendit.com, the company was originally designed to provide services for exchanging large files over the Internet. Perhaps wisely, Arsenal
opted to become an SSP in June 2000. Sinn previously had started
and headed up the managed storage services business of Storage Technology Corp. (StorageTek) (NYSE: STK), which was eventually spun out as ManagedStorage International Inc.

If all goes according to plan for Sinn into 2002, the latest round of funding
will have been just the ammo Arsenal needed.

— Todd Spangler, special to Byte and Switch
http://www.byteandswitch.com