Travidia Inc. Closes Strategic Series B Financing
Contact:
Bill Halldin for Travidia
916-781-0657
CHICO, Calif., March 24, 2003 – Travidia Inc., a leading provider of innovative Internet marketing services formerly known as AdExpedia, Inc., today announced the completion of its Series B financing round – a round led by the founders of one of the world’s most successful marketing corporations.
The five founders of the Catalina Marketing Corporation (NYSE: POS) are leading the Series B round, which also includes an investment by Kevin O’Connor, Founder and Chairman of DoubleClick Inc. (NASDAQ: DCLK). The president of Catalina Marketing Services Manufacturer and International, Michael Bechtol, is also an investor. Terms of the investments were not disclosed.
“We are very pleased to have attracted investors of this caliber, particularly in this difficult market for raising capital,” said John Strisower, CEO of Travidia. “Our management team has worked to gain the traction necessary to attract this kind of support.”
“These strategically aligned veteran entrepreneurs bring great assets to Travidia and provide the necessary propellant to drive Travidia during its breakout year of 2003,” Mr. Strisower said.
“Travidia’s unique services, industry responsive development and marketing approach has allowed it to grow its media network and prove its capability in the online advertising and marketing space,” Mr. O’Connor said. “My interest in joining Travidia is to add value through the leveraging of my experience and relationships in building successful companies.”
"We like Travidia’s approach and its talented management team," said Brian Yeatman, speaking for the Catalina founders` investment group. "We look forward to working with Travidia to help create growth and significantly higher value at the company."
Travidia also announced new members of its board of directors:
• Brian Yeatman, co-founder of Catalina Marketing Corporation, who will serve as Chairman.
• Michael Bechtol, President of Catalina Marketing Services.
• Kevin O’Connor, founder and Chairman of DoubleClick Inc.
• Patrick Nesbitt, founder and Chairman, Windsor Capital Group, lead investor of Travidia’s $2 million Series A round.
• Hal Ladue, a senior executive of Windsor Capital Group.
Travidia combines the best features of the print and online media by using its technology to convert print ads to the web, providing online shoppers with access to display ads, special sections and circulars. In addition, Travidia’s Integrated Marketplace provides a searchable database so a web surfer can search a newspaper`s display advertising, inserts and special sections by advertiser, brand, category, keyword or product. Users can register for alerts by any search parameter.
About Travidia, Inc.
Travidia Inc. is a leading provider of Internet marketing management and Internet-based preprint advertising services for brand-name Global 2000 retail advertisers including: Lowe’s Home Improvement, Meijer Stores, Petco, Jo-Ann Stores, Michaels Arts & Crafts and major newspapers including: The San Francisco Chronicle, The Houston Chronicle, St. Louis Post-Dispatch, The Dallas Morning News and all 32 Knight Ridder newspapers. Travidia Inc. is a privately held California corporation. For further information about Travidia Inc. visit www.Travidia.com on the web or call (530) 893-6195.
This news release contains statements of a forward-looking nature relating to the future events or the future financial results of Travidia, Inc. Investors are cautioned that such statements are only predictions and that actual events or results may differ materially. In evaluating such statements, investors should specifically consider the various factors that could cause actual events or results to differ materially from those indicated from forward-looking statements.
Back...
