P6 hosts Infocandy
OCT 4, 2000, M2 Communications - London -- Infocandy, a new subscription management service for business publications,
consumer magazines and newspapers, today launched its website for business-to-business transactions in the UK market.
The company already has deals in place with more than 80% of the UK's publishers and fulfillment including BBC, EMAP,
Haymarket and Reed Business.
InfoCandy also has deals in the US with EMAP USA, Rodale, Times Mirror, New York Times Magazines and Dow Jones
covering over 60% of American publishers.
The service allows corporates to centralise, analyse and manage subscription activity without removing freedom from the
individual. Employees with access to the system can place an order very simply. The benefits are:- one contact one invoice, a wide
range of choice, independence for the individual, a huge time saving and the ability to report on the status of subscription stock at
any one time. All of the above add up to huge cost savings.
The service provides access to all of the UK and International periodicals (250k), plus a wide selection of reports and journals. In
the UK, this market alone is estimated to be worth GBP7.8bn annually.
"We think that the market opportunity addressed by Infocandy is extremely attractive," remarks Stephen Murphy, Managing
Director, E*TRADE's International Capital business. "It is our view that Infocandy represents the strongest player in this market
and it is E*TRADE's policy to select investment in one player per market."
"We aim to become the world's leading expert in providing knowledge solutions and services for both corporations and
individuals," says Infocandy CEO John Denman. "I am pleased to announce that E*TRADE, which has recently agreed to lead
our second round of private financing, is helping to make our vision a reality."
Investors have enthusiastically supported Infocandy since its inception in November 1999. The company raised 3 million Euros
during its first round of private financing and was valued at 18 million Euros in May 2000.
Infocandy was also one of ten start-ups this year to receive Sun Microsystems' annual iForce Accelerator award which provides
free development hardware to the most promising new European businesses. Infocandy's website is based on Vignette (e-business
application) and is hosted by PSINet. |
