Dealersource.com Raises $ 9 Million in First Round Financing.Business Editors CHICAGO--(BUSINESS WIRE)--May 16, 2000 DealerSource.com, a new business-to-business online marketplace for off-lease and used business equipment, supplies and services, today announced it has closed $9 million in its first round of financing from premiere venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] . Trident Capital, Apex Investment Partners and Lunn Partners provided funding. The company's initial target market is the $125 billion global office equipment industry. The company provides dealers the opportunity to buy and sell office equipment, purchase after-market supplies and benefit from a broad variety of additional dealer services. Manufacturers, leasing companies and dealers will list printers, copiers, facsimiles and other office technology on the site. After-market supplies required for these types of equipment will also be available for purchase. "DealerSource.com is designed to realize the vision of using the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the to significantly increase dealer profitability," said Jim Vitiello, chairman of DealerSource.com. "Our company makes the supply chain much more efficient, enabling dealers to reduce sourcing costs while increasing long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. profitability." DealerSource.com has secured many valuable supplier agreements and strategic partnerships, making it uniquely positioned to dominate its targeted markets. For example, DealerSource.com has been named the official online marketplace for the Business Technology Association, an international organization that serves dealers, value-added resellers A value-added reseller (VAR) is a company that adds some feature(s) to an existing product(s), then resells it (usually to end-users) as an integrated product or complete "turn-key" solution. , systems integrators An individual or organization that builds systems from a variety of diverse components. With increasing complexity of technology, more customers want complete solutions to information problems, requiring hardware, software and networking expertise in a multivendor environment. , manufacturers and distributors in the business equipment and systems industry. "DealerSource.com is well-positioned to become the dominant Internet-based marketer for the wholesale channel in this lucrative and expanding field," said Steve Beitler, general partner of Trident Capital. "The company is led by a management team of accomplished professionals in the office equipment, technology and e-commerce arenas, who bring to the task both solid experience and a powerful solution addressing the needs of the marketplace." About DealerSource.com: DealerSource.com's vision is to become the leading full-service neutral net market for off-lease and used business equipment, supplies and services. The company focuses exclusively on reinforcing and enabling existing dealer channels. DealerSource.com has secured many valuable supplier agreements and strategic partnerships, making it uniquely positioned to dominate its targeted markets. The company is committed to delivering "high-touch" customer service to build long-lasting prosperous relationships. The firm's management team is highly experienced and well balanced, combining over 100 years of industry experience with significant B2B e-commerce (Business to Business Electronic-COMMERCE) Refers to one business selling to another business via the Web. See e-commerce. expertise. DealerSource.com is headquartered in Chicago, IL. About Trident Capital: Trident Capital is a venture capital firm dedicated to helping outstanding entrepreneurs build world-class information technology and Internet companies. Trident invests in firms that capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the growing importance of information connectivity for both companies and consumers in today's fast-changing business world. Key investment sectors include the Internet, infrastructure management, outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. , transaction services and information technology. Trident Capital operates offices in Menlo Park Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , CA; Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , CA; Lake Forest, IL; and Westport, CT. About Apex Investment Partners: Apex Investment Partners, established in 1987, has more than $290 million under management. The firm has invested in over 90 early stage technology companies. Apex's guiding investment philosophy is to build significant value in its portfolio companies and provide exceptional returns for investors and entrepreneurs. The company's central location in Chicago enables it to review opportunities throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and invest in companies having the greatest potential for value creation, regardless of geography. Key investment sectors include communications, information technology and software. |
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