Re: MAIL, thanks Ken...that was quite a pop!
Here's the news that apparently made it take off today. Looks like this one's getting played every time there's a news release.
MAIL's customer list and Softbsnk involvement is intriguing and makes me think this has a chance of being a real winner.
But it's not a stock I'd bet the farm on. The good news of the below announcement is MAIL gets a credible investor. The bad news is they don't indicate how many shares (ie, what's the valuation assumption) nor are there any filings with the SEC on this yet. Thought they'd be required to disclose that type of info.
BOULDER, Colo.--(BUSINESS WIRE)--March 25, 1999--MessageMedia
Inc. (Nasdaq:MAIL.O), the leading provider of email-based direct
marketing and customer relationship management services, announced
today that Pequot Private Equity Funds have invested $10 million in
MessageMedia in exchange for newly issued shares of Common Stock.
Gerald Poch, a principal of Pequot Capital Management, will join
the board of directors of MessageMedia and will serve as co-chairman
of the board with Bradley Feld, and will replace Ronald D. Fisher,
vice-chairman of SOFTBANK Holdings, who will continue as a director of
the company.
"We are very excited to be investing in and working closely with
MessageMedia. Over the past year, MessageMedia has emerged as the
leading provider of email messaging services through its advanced
technology and comprehensive service offerings," said Jerry Poch of
Pequot Capital. "There is an explosive growth of electronic-based
messages and Internet-based direct marketing services as companies
utilize the Web and electronic technology to communicate efficiently
with their customers. Already, MessageMedia is managing the
distribution, receipt, and processing of millions of messages for over
60 leading customers, including CMP Media, E-TRADE, Intuit, USA Today,
GeoCities, and Barclays Bank. Pequot and I look forward to
participating in this market and working with a key industry player in
electronic marketing and customer relationship services."
"Pequot Capital's investment and Jerry Poch's commitment to the
business will provide the resources and leadership to maintain and
expand MessageMedia's leading position in the rapidly growing market
for email-based customer relationship management and direct marketing
services," stated Bradley Feld, co-chairman of MessageMedia. "Jerry's
vast operational and acquisition experience at AmeriData Technologies
and GE Capital ITS, as well as his 25 years of senior executive
leadership in technology businesses, will help us dramatically scale
MessageMedia through both internal growth and acquisition. We are
pleased with Pequot Capital's decision to invest in our company, and
we welcome their support and involvement in the execution of our
strategy going forward."
About Pequot Capital Management Inc.
The Pequot Private Equity Funds are the private placement/direct
investment arm of Pequot Capital Management Inc. The Pequot Private
Equity Funds invest in public and late stage private companies in
information technology, telecommunications, and healthcare. Pequot
Capital Management Inc. is a research-intensive investment firm with
more than $5 billion in assets under management. Pequot Capital, which
is 100% employee-owned, is headquartered in Westport, Conn., with
offices in New York City and California.
About MessageMedia Inc.
MessageMedia (Nasdaq:MAIL.O) is the leading provider of email-based
customer relationship management and direct marketing services. The
company offers a comprehensive suite of outsource messaging services
for information delivery, permission-based direct marketing and
ongoing customer communications using industry standard Internet
protocols. MessageMedia's customer portfolio includes more than 60
customers from the financial services, publishing, direct marketing,
retailing and electronic commerce industries. Clients include E-TRADE,
USA Today, GeoCities, Intuit, CMP Media, Barclays Bank and
Bertelsmann. MessageMedia is a member of the SOFTBANK family of
companies.
About SOFTBANK Holdings Inc.
SOFTBANK Holdings Inc. is the holding company for all of SOFTBANK
Corp.'s U.S. based activities. Its major operating companies include
Ziff-Davis (NYSE:ZD.N), Kingston Technology Co., SOFTBANK Content
Services, and UTStarcom. SOFTBANK is the largest shareholder of Yahoo!
(Nasdaq:YHOO.O) and E-TRADE (Nasdaq:EGRP.O), and a minority investor in
The Rights Exchange, GeoCities (Nasdaq:GCTY.O), CyberCash (Nasdaq:CYCH.O),
and E-LOAN. SOFTBANK and its affiliates own approximately 53% of the
outstanding common stock of MessageMedia Inc. (Nasdaq:MAIL.O). In
addition, through affiliated venture funds in the U.S. and Japan, the
SOFTBANK Group has made more than 70 investments in Internet
companies. www.softbank.com |
