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Zambeel Znuffed Out: Page 3 of 3

"They will restart as a software company, using some attempt to avoid losing the investment credits from some KPCB investors by having the new company 'buy' the intellectual property from [Zambeel] using its new preferred stock... or something like that," says our source.

Zambeel's name was taken from an Indian fairy tale about a prince whose magical bag -- called a zambeel -- produced anything he needed at any given time. Unhappily, for the storage company of the same name, no such sack of infinite treasures actually existed.

Todd Spangler, US Editor, Byte and Switch