Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
The developer of a web-based sales platform also names a new board member.
San Diego – August 30, 2010 – ShowUhow, a rapidly-growing developer of a web-based sales and customer support platform designed to make selling configurable consumer products more profitable for manufacturers and their retail partners, recently secured $3 million in Series A investment from Syncom Venture Partners.
The company also announced today that Giles Bateman, former co-founder of Price Club/Costco and former chairman of CompUSA, has joined its board of directors.
“I’ve been watching this company for some time, and their ability to improve the ‘out-of-box’ experience for consumers not only increases customer satisfaction, but also has a direct impact on margins for both manufacturers and retailers,” said Bateman. “I’m excited to join the ShowUhow’s board of directors and help keep the company’s momentum strong.”
Bateman also serves on the board of directors for several other prominent companies, including Lifetime Fitness, WD-40 and Beverages & More. He was also an Entrepreneur in Residence and taught a graduate-level course on entrepreneurship at San Diego State University from 2003 to 2006.
Maryland-based Syncom Venture Partners is aggressively focused on investing in the next generation of market leaders within the rapidly growing sectors of digital media, mobile technology, and web-based services. Syncom's deep domain experience positions it well to offer unparalleled guidance to their portfolio management teams as they navigate this complex technology environment.
“I believe that the confidence and backing of both Sycom and Mr. Bateman is indicative of how well we’re poised to meet the manufacturer and retailer demands for innovative solutions that help them serve their consumers more profitably,” said Kim Folsom, founder and CEO of ShowUhow. “In doing so, we provide our clients with higher net revenues and lower costs of sale. It’s this direct impact that makes us a mission-critical asset, and we gladly take on that role with an uncompromised commitment to excellence!”
Headquartered in San Diego, ShowUhow. Inc. is the developer and provider of a web-based video and sales support platform that helps manufacturers and retailers increase sales and reduce customer support and return costs by showing consumers how to set-up and use their products easily. ShowUhow develops, hosts, and distributes straightforward and engaging Video Instruction Guides (VIGs) and comprehensive self-support tools that provide effective pre-sales education and set-up expectations, as well as step-by-step tutorials that improve the “out of box” experience. The Company has solutions deployed within consumer electronics, juvenile products outdoor, recreation and furniture industries at 8 of the top 11 retailers. For more information, visit www.showuhowinc.com.