Xoom is one of the biggest money transfer companies on the Internet today.   The $20.29 million Series E funding was sent to Xoom from Sequoia Capital, New Enterprise Associates, Fidelity Ventures, and DAG Ventures.

Xoom is based in San Francisco, Calif. and previously raised $15 million in Series D in 2006.  Cumulatively, Xoom raised over $50 million to power its business operations.

Xoom makes money transfer easy in 4 steps:
1.) Enter your contact info, recipient’s info, and the amount of money to be sent.
2.) Select a delivery method.
3.) Select a payment method (Visa/MasterCard/eCheck, Discover, Paypal).
4.) Send your recipient a tracking method.

However, due to all the third parties involved, its rather difficult to support all of the developing countries for their operations.  This is why Xoom is limited to only Argentina, Bangladesh, Bolivia, Brazil, Chile, Dominican Republic, Ecuador, Guatemala, Hong Kong, India, Jamaica, Mexico, Morocco, Nepal, Paraguay, Peru, Phillippines, Sri Lanka, Uruguay, Vietnam.  I’m assuming that with this new round of funding, Xoom will be able to expand its operations to support other countries. 

Recipients of money transfers for Xoom do not necessarily require a bank account or Internet connection to receive funds because Xoom has money transfer partners to provide ways to send money to family and friends in other countries.

Roelof Botha of Sequoia Capital, Dick Kramlich of New Enterprise Associates, Anne Mitchell of Fidelity Ventures, Keith Hartz of the founding team of Xoom, and Keith Rabois sit on the Board of Directors for Xoom.

What does Georgia Tech, Digg, and Mozilla.org have in common? According to Yodel Anecdotal: Yahoo’s company blog, the email and group calendaring system is all powered by Zimbra. And because why it is so “damn cool” as described by Yahoo!’s Brad Garlinghouse, the search engine just bought the open source email/calendaring company for $350 million in cash.

This acquisition comes at a time that Google is gearing to develop further online office suite applications and when Microsoft is supposedly developing and testing online versions of Word, Excel, and PowerPoint as well. Yahoo! is now on the bandwagon and will bring Yahoo! new customers and be able to benefit from the open-source community in terms of email software development.

The Zimbra Collaboration Suite 4.5 is the current release by Zimbra, but with the announcement of the acquisition, version 5.0 will not be delayed.

For those who are current Zimbra customers or want to learn more about how the acquisition, there is a Q&A available and Network Edition Trial on the Zimbra website.

The company raised $30.5 million over the course of three rounds of funding from Benchmark Partners, Redpoint Ventures, Accel Capital, Sumitomo Corporation, and Duff Ackerman & Goodrich according to TechCrunch.