NewsStand Inc. secures $8 million in funding to expand its growth in digital publishing industry.Early this month, NewsStand Inc., an Austin, Texas-based provider of digital publishing and delivery systems, closed an $8 million round of venture financing from Adams Capital Management Inc., a national venture capital firm that invests in information technology and telecommunications companies. This funding round is in addition to $8 million Series B obtained in March 2002 from SSM SSM abbr. surface-to-surface missile Ventures, Noro-Moseley Partners, and The 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 Times Company. NewsStand marketing manager Vicki Newton told NL/NL, "Receiving funding in this challenging economy further legitimizes a growing trend to read newspapers or magazines on a PC--in the original print format, article for article, every photograph and every ad." NewsStand currently produces exact digital replicas of 37 leading publications, including The New York Times, Barron's, Harvard Business Review Harvard Business Review is a general management magazine published since 1922 by Harvard Business School Publishing, owned by the Harvard Business School. A monthly research-based magazine written for business practitioners, it claims a high ranking business readership and , The China Daily, The Globe and Mail, International Herald Tribune International Herald Tribune Daily newspaper published in Paris. It has long been the staple source of English-language news for American expatriates, tourists, and businesspeople in Europe. , and The Australian. Regarding its newsletter clients, Newton said, "Currently, we have three newsletters from Consumer Reports: Consumer Reports Travel Letter, Consumer Reports on Health, and Consumer Reports Guide to Baby Products. The Baby Guide could be considered a newsletter or special publication since it's not produced on a regular basis. "NewsStand is looking to produce more newsletters," she said, "and that will be one area of growth for us as we utilize our new funding. Our company has made its reputation and proven its capability with some of the biggest and well-known publishers. However, we do see a need for the turn-key, digital delivery service that we can provide to smaller publishers." Kit Webster is president and 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. of NewsStand Inc. 8620 Burnet burnet, hardy perennial herb of the family Rosaceae (rose) found in temperate regions, usually with white or greenish flowers. The European species are sometimes cultivated for the leaves, which are used in salads, for flavoring, and formerly as a poultice to stop Rd., #100, Austin, TX 78757, 512-334-5100, fax 512-334-5199, www.newsstand.com |
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