Who else likes IBEM's latest announced planned acquisition:
NextVenue Completes $30 Million Financing
Investors Include Arena Capital, Deutsche Bank, Goldman Sachs, Merrill Lynch, Microsoft, Morgan Stanley, NBC, Primedia, J&W Seligman, Transworld Entertainment, and Van Wagoner.
NEW YORK, March 17 /PRNewswire/ -- NextVenue, Inc., the successor company to the joint venture of Microsoft, NBC and Dow Jones, announced today that the Company has completed a $30 million private placement. Investors in the financing included Arena Capital, Deutsche Bank, Goldman Sachs, entities affiliated with Merrill Lynch, Microsoft, Morgan Stanley, NBC, Primedia, J&W Seligman, Transworld Entertainment, and Van Wagoner. Commenting on the announcement, Nicholas Balletta, NextVenue's President and Chief Executive Officer, said, "We've come a long way in short time. The industry leaders who founded the original joint venture, CNBC/Dow Jones Business Video -- Microsoft, NBC and Dow Jones -- continue to be major investors, along with several major investment banks and institutions. We became NextVenue in November 1998 and have significantly expanded our services since then by leveraging our leading edge experience in the capture, production and distribution of events in streaming video. These services today encompass not only the financial community and corporations but a broad range of other industries, including live entertainment. This major injection of additional capital will further strengthen our broad financial base and support our global growth and expansion plans.
"Today NextVenue is at the forefront of the technological revolution that is driving fundamental changes in communications, which significantly enhance productivity at substantial cost savings. In our Virtual Roadshow business, for example, where once corporate officers had to take valuable time and energy to travel to numerous cities and meet potential investors, today a virtual roadshow over the Internet can provide the same information live and inter-active -- and to everyone at the same time from the convenience of their offices. We also have applied this same technology to corporate announcements, new product introductions, CEO presentations, analyst reports, online employee communications and training, and important conferences worldwide. The myriad applications for financial content distributed over the Internet in streaming media have continued to expand, providing valuable marketing tools for equities and fixed income sales, investment research, mergers & acquisitions, individual investor relations, and corporate communications, among others. At the dawn of this new century we have only begun to utilize the vast potential applications of this new and exciting technology."
New York Mayor Giuliani: "NextVenue Is Changing The Way Companies Communicate"
In January, the firm moved into its new 33,000-square-foot corporate headquarters, broadcast studios and production facilities in the heart of New York City's Silicon Alley at 100 William Street.
In a joint news announcement last August, New York Governor George E. Pataki and New York City Mayor Rudolph Giuliani said the State and the City would provide a capital grant, discounted energy and sales tax exemptions to relocate NextVenue from its former Fort Lee headquarters, and to stimulate job recruitment and future growth. At the announcement, Mayor Guiliani noted, "NextVenue represents a unique combination of two of New York's greatest assets -- Wall Street and Silicon Alley -- by broadcasting real-time investor information directly to the desktops of decision makers around the world. NextVenue is changing the way companies communicate."
NextVenue, Inc., is a business-to-business and business-to-consumer global communications corporation, and one of the largest U.S. producers of Internet-distributed financial content utilizing streaming video, including virtual roadshows used by domestic and international investment banks to market securities around the globe.
The Company is privately-owned by an investment group including Microsoft, NBC, Dow-Jones, and several institutional investors. In addition to its New York City headquarters, NextVenue also has offices in Los Angeles, San Francisco and London.
nextvenue.com |
