PRIMEDIAVentures Invests in Intellipost
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San Francisco-based Intellipost Corp., a provider of online direct marketing and loyalty rewards programs, said it has received an unspecified strategic investment from PRIMEDIAVentures, the venture capital arm of publishing company PRIMEDIA Inc.
PRIMEDIA's investment, terms of which were not disclosed, brings total investment in San Francisco-based Intellipost to more than $25 million.
"By welcoming PRIMEDIA into our family, Intellipost extends its lead in the emerging industry of online direct marketing," said Steve Markowitz, Intellipost chairman and CEO. Intellipost operates online direct marketing programs with more than 1.9 million consumers enrolled.
The investment follows Intellipost's acquisition of key Internet properties formerly held by information services company Experian, including MotivationNet, MyPoints and DirectValue.com.
"We were impressed with the growth prospects and strategic position that Intellipost has as the industry leader in online direct marketing and loyalty programs," said Larry Phillips, managing director of PRIMEDIA Ventures. "Our in-house direct marketing experts, such as those at PRIMEDIA's publishing group, share my enthusiasm, and we intend to leverage our direct marketing assets on Intellipost's behalf to generate new advertisers for Intellipost's programs."
PRIMEDIA publishes more than 210 magazines and 215 information products. The company also operates 20 video networks, 45 trade shows, 100 Web sites and produces 15,000 education titles.
Intellipost operates a reward-based e-mail service, BonusMail and Web-based incentives program MyPoints. Members respond to offers by e- mail or on the Web to earn points redeemable for frequent flyer miles and merchandise The company also runs online loyalty rewards programs on behalf of clients such as GTE, NextCard Internet VISA and Prodigy Services Corp.