Seattles Zebramart.com has agreed in principle to acquire a thirty percent stake in Cottage Ventures, LLC, a privately-held communications infrastructure venture capital firm and an Internet company incubator, in an all-stock transaction.
Also announced was the company’s intention, upon completion of the transaction, to name Daniel J. Mackell Chairman, Chief Executive Officer and President of zebramart.com, which is anticipated to be renamed Cottage Investments, Inc.
Daniel J. Mackell, 42, is a founding Partner of Cottage Ventures, LLC. Mr. Mackell has most recently served as Chief Executive Officer and Chief Financial Officer of Basix.com.
Prior to that Mr. Mackell was an investment banker at Donaldson, Lufkin & Jenrette since 1987.
“With the acquisition of an interest in Cottage Ventures, LLC by zebramart.com, the building blocks are in place to support the successful execution of our long-term growth strategy,” says Mackell
“During the coming quarters we will continue to review all of zebramart.com’s Internet assets and review all strategic options. We will also seek to change the name of the Company to Cottage Investments, Inc. to better reflect the new identity and strategic direction of the Company, focusing on communications infrastructure and Internet incubator investments.”