SPEEDGREETINGS SECURES $3 MILLION IN FUNDING; APPOINTS RENOWNED INDUSTRY EXPERTS TO BOARD
CONTACT:
Christine Thornton
SpeedGreetings
(240) 333-2207
christine@speedgreetings.com
Susan Yum
RMR & Associates
(301) 217-0009 x40
syum@rmr.com
FOR IMMEDIATE RELEASE
New Investment and Appointment of Veteran US Post Office Executives to Fuel Growth
BETHESDA, MD (May 29, 2001) -- SpeedGreetings (www.speedgreetings.com), which uses print-on-demand digital technology to provide customer relationship management (CRM) for businesses, today announced that it has secured $3 million in financing. SpeedGreetings also announced the appointment of several industry leaders to its Board of Directors, including two former US Postmaster Generals.
Investors in this second round of financing include senior management of Mail2000, a company that processes mass mailings for businesses, former US Postmaster General Paul Carlin and other private investors. The funding will enable SpeedGreetings to strengthen the development and delivery of services and advance its growth strategy.
“The combination of the support of such a strong group of investment partners and the invaluable expertise and industry knowledge of our new board members reinforces SpeedGreetings’ momentum in the marketplace,” said Chris Baynes, co-founder and chief executive officer of SpeedGreetings. “This capital infusion and impressive Board of Directors will enable us to quickly scale to meet increasing demand for our services as we enter the next phase of our company’s future. We are very excited to leverage their experience to realize the potential this business offers and propel our company forward.”
SpeedGreetings’ rapidly growing customer base includes several of the nation’s leading credit card companies, a major US bank, and a global financial services company. For these financial services companies, SpeedGreetings designed, printed, and sent personalized messages to their clients regarding anything from recent purchase information to account balances. These companies found that fun, friendly cards had a higher response rate from customers than impersonal form letters.
In addition to clients in the financial services industry, SpeedGreetings provides end-to-end mailings to Greatmeals.com, an online meal delivery company, which sells frozen, prepared meals nationwide. Through SpeedGreetings, Greatmeals.com sent 2,000 customized cards to existing customers for a Valentine’s Day promotion, which resulted in an order rate of greater than 15%.
“Customized marketing is rapidly becoming critical in today’s marketplace, and there is a growing demand for building one-to-one customer relationships in order to reach target audiences,” said Paul Carlin, former US Postmaster General and a member of SpeedGreetings’ Board. “SpeedGreetings helps companies to effectively compete by providing users with a turnkey, cost-effective service that enables them to deliver customized direct mail and personalized corporate correspondence.”
Joining the company’s Board of Directors are the following:
Paul Carlin
As 66th Postmaster General of the United States, Carlin has over seventeen years of management level experience in the United States Postal Service (USPS), where he is attributed with playing a pivotal role in achieving passage of the Postal Reorganization Act, which created the current USPS.
John Kuiper
Kuiper is the chief operating officer of Mail2000, Inc., and formerly served as managing director of the Print/Mail business at TNT Post Group for 12 years.
Marvin Runyon
Runyon is a former Postmaster General of the United States, and currently heads The Runyon Group. Prior to his work at the USPS, Runyon served for four years as Chairman of the Tennessee Valley Authority and was also the founding president and chief executive officer of Nissan Motor Manufacturing Corporation USA.
Loren E. Smith
Currently the chairman of Perquia, Smith previously served as the chief marketing officer of the United States Postal Service.
About SpeedGreetings
Headquartered in Bethesda, Maryland, SpeedGreetings is a privately held company that provides cost-effective customer relationship management (CRM) and hard-copy mail services for businesses. SpeedGreetings uses print-on-demand digital technology to provide a convenient way for companies to communicate creatively personally, quickly and economically, with better results. The company offers a full suite of services that includes designing, printing and mailing fully customized, full color correspondence that reaches 98% of customers nationwide in just two to three days. For more information on SpeedGreetings, please call (240) 333-2200 or visit the company’s Web site at www.speedgreetings.com.
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