BabyCenter, Inc. Formed to Bridge Baby Boom and Internet Boom; Internet Startup Takes Focused Approach To Lucrative Market; Attracts Strong Financing, Blue-Chip Sponsors and Partners.NEW ORLEANS--(BUSINESS WIRE)--Nov. 3, 1997--Against the backdrop of the American Academy of Pediatrics The American Academy of Pediatrics ("AAP") is an organization of pediatricians, physicians trained to deal with the medical care of infants, children, and adolescents. Its motto is: "Dedicated to the Health of All Children. Annual Meeting, two former Stanford MBAs today announced the launch of their new company: BabyCenter, Inc. Backed by Broderbund Software, IDG IDG International Data Group IDG Integrated Drive Generator IDG Installation Design Guide IDG Internet Discussion Group IDG Inset Dielectric Guide IDG International Dangerous Goods (mail, shipping) Ventures and Crystal Internet Ventures -- who collectively invested more than $3 million in the company -- BabyCenter, Inc. is the only new media publishing company providing a complete resource specifically geared for expectant and new parents. San Francisco-based BabyCenter, Inc. will offer a full line of Internet-and print-based resources for expectant and new parents, ranging from news and information to health services health services Managed care The benefits covered under a health contract and product shopping. To that end, BabyCenter, Inc. also announced today its flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. -- BabyCenter.com(TM) -- the most complete and highest quality site on the Internet for expectant and new parents. BabyCenter.com launches with a cadre of major sponsors including Procter &Gamble, Johnson & Johnson, Charles Schwab Charles Schwab can refer to:
"We created BabyCenter because we saw a great fit between new parents and the web," explained Matt Glickman, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and co-founder of BabyCenter, Inc., and an expectant, first-time father. "We felt a complete resource with high quality content and the personalization power of the Internet would appeal to information-hungry parents and surpass anything available today." "BabyCenter stands out among companies we've invested in because of the appealing nature of the baby market and the quality of the team they've built," said Michael Murray Michael Murray may refer to several people:
The company is tapping a rich consumer market and one that fits well with the capabilities of the Internet. New parents are voracious consumers of both information and new products. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. research, new parents spend over $7,000 on average in the first year of baby's life alone. BabyCenter.com fills a void on the web for comprehensive, validated information specifically on pregnancy and infancy. Moreover, the site is being launched at a time when Internet usage, particularly among women, is nearing mass market reach and attracting major consumer advertisers. BabyCenter estimates nearly 30% of expectant and new parents are online. BabyCenter, Inc. generates revenues through advertising and product shopping on the BabyCenter.com web site, and through sales of custom educational resources to health organizations. These various revenue streams enable the company to stay focused on its core audience, while building a strong business around the relationships it forms with each new parent. The Founders and Team BabyCenter was formed by Stanford MBAs Matt Glickman and Mark Selcow in late 1996. Glickman, an expectant father, saw the need for an Internet resource as he began to learn about the many issues confronting new parents. His experience marketing Intuit's Quicken reinforced the value of a service for people experiencing a major life-change-event. Selcow, previously a health marketer at biotech firm Amgen, saw an additional health services opportunity where consumer information could improve health outcomes and lower costs. In early 1997 they left their respective corporate jobs for a spare-bedroom office in Glickman's Palo Alto Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. home to form BabyCenter, Inc. The company was financed with personal credit cards and Amgen and Intuit stock options until seed capital was raised from Broderbund and private investors in February, 1997. The founders then built a team, recruiting expert talent from Parenting magazine, which had just relocated to New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of from San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden . This experienced team gave BabyCenter the early jumpstart it needed to build a high quality product on a rapid schedule. In addition to its relationships with key investors and sponsors, BabyCenter has forged alliances with 17 world class health professionals representing obstetrics, pediatrics, family medicine, mental health, midwifery midwifery (mĭd`wī'fərē), art of assisting at childbirth. The term midwife for centuries referred to a woman who was an overseer during the process of delivery. In ancient Greece and Rome, these women had some formal training. , and parenting education. These medical partners make up BabyCenter's Medical Advisory Board and assist the company in developing and reviewing credible and pertinent content. -0- Note to Editors: BabyCenter is a trademark of BabyCenter, Inc. BabyCenter.com can be found on the Internet at www.babycenter.com. CONTACT: BabyCenter, Inc. Debra Kelley, 415-537-0900, x120 debrak@babycenter.com or Matt Glickman, 415/537-0900, x101 mattg@babycenter.com |
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