Stamps.com Expands Horizons
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Stamps.com Inc. Tuesday established a subsidiary to print tickets for events, travel and financial services.
The wholly-owned subsidiary, EncrypTix Inc. will allow sellers and distributors of tickets and financial instruments to complete transactions over the Internet through the customer's existing laser or inkjet printer. Printable tickets are set to include tickets, gift certificates, boarding passes, vouchers and whole value discount coupons.
"We have created EncrypTix to establish and develop new, alternative uses of Stamps.com's technology for Internet-based transactions," said John Payne, chairman and CEO of Stamps.com (STMP).
Payne will be the chairman of EncrypTix, with former SunAmerica Senior Vice President Jim Rowan serving as president and CEO.
Encryptix will start out as a wholly-owned subsidiary, but the company's strategy is to eventually seek capital from other strategic investors. Stamps.com's had a wildly successful IPO in July.