Targetting pays off in ways you might not expect
We’ve all been taught to target our prospective customer, right? Well, a Guelph, Ontario firm has won one of the largest private equity financing amounts in recent memory, by doing just that.
Last week, Geosign Technologies Inc. acquired $160 million USD in private funding from American Capital Strategies Inc. Geosign will use the money to acquire more website properties, in an ever-expanding portfolio of information-rich consumer sites which provide content alongside targetted eMarketing vehicles such as banners, badges and buttons.
Company founder Tim Nye calls himself a recluse, and acts like one. While he retains a majority interest in the company, he has declined to be interviewed about this groundbreaking deal.
However, even though Nye doesn’t seem interested in personal exposure, no-one can say that his company is antisocial. The Geosign website “Careers” page boasts about the company’s “flexible, friendly work environment”.
Employee benefits include funding for continuing education, an on-site gym, full-time fitness expert and regular wellness seminars - all of which encourage balance and good health. This is a jaw-dropping approach in 2007 - the Engineer continues to see many in the eBusiness industry who are working every waking hour, and have nothing to show for it but bags under their eyes!
Geosign goes on to describe “a well-stocked refreshment area, white-water rafting expeditions, the company baseball team, pick-up hockey, a running club, and other activities (to) promote…family participation outside of work”. What a concept!
You can’t tell the Engineer that there is no connection between this fantastic influx of cash and a business model that offers a successful product, produced by a sane staff.
Congratulations, Geosign! It’s always heartening to hear that those who are doing “good” are also doing “well”.