SAN FRANCISCO Wells Fargo & Co. has announced a strategic equity investment in B3 Corp., an e-business software company founded by Warner Music Group in 1996.
Wells will also use B3s software to offer merchants the ability to quickly build a store, sell online, and take payments, said Debra Rossi, Wells executive vice president of business internet services last Wednesday.
The company joined Warner Music Group and Zilkha Capital Partners LP of Menlo Park, Calif., as investors.
B3 Corp. began as EMS Corp. to streamline the back-office operations of several Time Warner Web sites, including the e-stores of Warner Bros. Studio Stores, CNN Interactive, Rhino Entertainment, Warner Bros. Records, The Atlantic Group, and Elektra Entertainment Group.
EMS changed its name to B3 early last year to reflect broader business applications.