DiSX Secures Commitment on Funding
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Dynamic Information System & eXchange Inc., which operates a help wanted classified database on the Net, said it secured commitments for $700,000 in operating capital.
The Orem, UT-based company said agreements reached with a group of individual investors call for a 50% payment up front with the remainder due over the next 60 to 90 days.
Dynamic Information System & eXchange Inc., "DiSX," is the developer of TOPjobs USA, a database of help wanted ads on the Internet for managers, professionals, and technical specialists. DiSX partners with ABC, CBS, or NBC TV affiliates to create local Internet "Career Centers" that are hosted at each TV station's Web site.
DiSX maintains the databases for the "Career Center" and the stations promote it to their viewing audiences. The TV stations keep the revenues from the sale of banner advertisements. DiSX keeps the revenue from the sale of "help wanted" ad placement to employers and recruiters.
"Securing these funds combined with the free promotion that we are receiving from the TV station partnerships makes us very optimistic about the future," said company Chief Executive Officer Eric Marchant. "Now we have the capital and marketing resources to reach our sales projections for 1998."