ADVO Creates New ShopWise.com Subsidiary Dedicated to the Continuing Development of its Internet-Related Initiatives.Business Editors WINDSOR, Conn.--(BUSINESS WIRE)--April 25, 2000 Netserts.com will be Initial Business Unit Under Shopwise.com Umbrella ADVO Inc. (NYSE NYSE See: New York Stock Exchange : AD) announced that it has established a new subsidiary, ShopWise.com, to focus on the continuing development of ADVO's Internet-related business initiatives. The creation of this subsidiary represents the formal establishment of a business unit dedicated to the continuing growth and development of ADVO's Internet-related business ventures, including e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. related print advertising, CD-ROM CD-ROM: see compact disc. CD-ROM in full compact disc read-only memory Type of computer storage medium that is read optically (e.g., by a laser). insertion insertion n. the addition of language at a place within an existing typed or written document, which is always suspect unless initialled by all parties. initiatives, and on-line concepts. In a related announcement, ADVO indicated that it has closed its pending deal to acquire a controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in Netserts.com, an advertising magazine dedicated to driving on-line traffic to Internet sites. Netserts.com will initially be distributed as an advertising supplement in ADVO's shared mail package to approximately ten million households on a monthly basis. It will be managed as part of the Shopwise.com subsidiary. Gary Mulloy, ADVO's Chairman and Chief Executive Officer said, "As our Internet-related business ventures continue to grow and evolve, it has become important to establish this new subsidiary in order to provide a dedicated business unit focused on accelerating their development and integration with our core business. I am extremely pleased to name Don McKenzie Don McKenzie may refer to:
Open furnace for heating metal ore and metal for working and forming, or a workshop containing forge hearths and related equipment. From earliest times, smiths (see smithing) heated iron in forges and formed it by hammering on an anvil. strong relationships with on-line partners, while using his knowledge of our clients to build relevant business solutions to meet their needs. This will be a key focus for Shopwise.com in the coming months." ADVO is the nation's largest full-service targeted direct mail marketing services company with annual revenues of over $1 billion. ADVO specializes in shared and solo direct mail services and provides Microtargeting(R) solutions at an affordable price for its clients' print advertising needs. The Company's core shared mail program is distributed nationally to approximately 60 million households weekly. An additional 28.5 million households can be reached, on a shared mail basis, through ADVO's National Network Extension (A.N.N.E.). ADVO's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , MailCoups, Inc., produces Super Coups, a cost-effective, direct mail-based advertising solution for local neighborhood businesses which utilizes an envelope format. ADVO has 20 mail processing facilities and 65 sales offices nationwide. ADVO's corporate headquarters are located at One Univac Lane, Windsor, Connecticut Windsor was the first English settlement in the State of Connecticut, the 5th Colony to receive Statehood in the United States of America. Windsor is a suburban community in Hartford County, adjacent to the north to Connecticut's Capital, Hartford, with a relatively diverse 06095. The Company can be visited at its Web site at www.advo.com. The forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. in this report are based upon current information and expectations and are subject to risks and uncertainties in the Company's operations and business environment. Such risks and uncertainties include, but are not limited to, changes in customer demand and pricing, the possibility of consolidation throughout the retail sector, postal and paper prices, the efficiencies achieved with technology upgrades, and other general economic factors. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion