Genesis Direct Raises $72 Million in Second Round of Financing.SECAUCUS, NJ--(BUSINESS WIRE)--Oct. 10, 1997-- Rapidly Growing Direct Mail Company Taps Into Major Financial Partners to Expand Aggressive Acquisition & Growth Plan Genesis Direct, the direct mail and catalog company founded in late 1995, announced that it has secured a second round of financing, raising $72 million from a consortium of partners, including: GE Investment Private Placement Partners II, LP; First Union Capital Partners; The CIT n. 1. A citizen; an inhabitant of a city; a pert townsman; - used contemptuously. Which past endurance sting the tender cit. - Emerson. Group/Equity Investments Inc.; SSM SSM abbr. surface-to-surface missile Venture Partners LP; Invemed Associates Inc.; and Strategic Investment Partners Ltd., a partnership managed by an affiliate of Soros Fund Management The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . Schroder & Co. Inc. served as investment advisors to the company. Genesis Direct's first round of financing, in July 1996, provided $62 million in funding from GE Investments Private Placement Partners II and a limited partnership (LP) sponsored by the three Genesis Direct founders, Warren Struhl, David Sable sable, species of marten, Martes zibellina, found in Siberia, N European Russia, and N Finland. This carnivorous mammal is highly valued for its thick, soft fur, which is dark brown or black, sometimes with white underparts and sometimes flecked with silver. , and Hunter Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. . In less than a year, Genesis Direct utilized this initial funding to build its infrastructure and grow to more than 20 owned and operated catalog brands, consisting of both start-ups and acquisitions. Genesis Direct has created a top-flight management team designed to propel the company to industry leadership. The company has also built and staffed a 450-seat call center in Secaucus, and built a 500,000 square foot, fully automated state-of-the-art distribution center in Memphis, Tenn. "When we initially invested in Genesis Direct, we saw a company with significant growth potential and, after a year's operation the company is ahead of our original expectations," said David Wiederecht, vice president, GE Investments. "We continue to support their aggressive acquisition strategy and their efforts to maximize their growth potential in all areas of direct marketing, including the Internet and other electronic commerce." "We were impressed by Genesis Direct's consolidation play and its strategy of increasing sales by integrating the marketing of its brands," said Kevin Roche Kevin Roche (b. June 14, 1922) is an award winning twentieth-century Irish architect. He is famous for his creative work with glass. Born in Dublin. Roche graduated from University College Dublin before immigrating to the US in 1948. , managing partner, First Union Capital Partners. "We are confident that the Genesis Direct management team has the operational and marketing expertise to realize its aggressive goals." 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. Genesis Direct 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. Warren Struhl, the expanded roster of financial partners offers value beyond its capital. "Our relationship with our initial partners has been most successful because they bring to the table not only financial resources but also business know-how and tremendous networking opportunities," said Struhl. "Their continued backing -- and the addition of our new partners -- will fuel our growth to the top of the direct marketing industry by allowing us to continue our brand-building focus." About Genesis Direct Genesis Direct creates, acquires, builds and grows niche-market catalog brands and consolidates them within a unified and cost-effective infrastructure. This allows Genesis Direct to maximize the reach of its catalog brands to existing and potential customers and has produced explosive growth since the company's founding in 1995. The company's growth strategy includes creating new catalogs, expanding catalog "brand" franchises with spin-off products, international market expansion and pursuing multi-dimensional marketing (including new and emerging multi-media channels). The company is currently comprised of four Core Business Units (CBUs) including: Sports, Children, Collectainment(TM) and Affinity. Investing for long-term growth, Genesis Direct creates and acquires only those catalogs viewed to have additional growth and profit potential, as well as strategic importance to the company's overall brand marketing strategy. Its marketing and operational strategy encompasses centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. telemarketing telemarketing, the practice of selling goods or services to customers by means of the telephone or of surveying consumer preferences in telephone conversations. , distribution, and purchasing; a state-of-the-art central database, a one-to-one customer marketing focus and strong emphasis on Internet and electronic commerce. -0- (TM)Collectainment is a trademark of Genesis Direct Inc. CONTACT: Cohn & Wolfe, 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 Sheila Rose, 212/598-3639 Chris DeMaria, 212/598-3629 or Genesis Direct Inc., Secaucas 201/867-2800 Fax: 201/867-1112 E-mail: mail@genesisdirect.com |
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