WhatTheyThink.com Completes Management Buy-out, Restructuring, Predicts Profitability
Tuesday, November 20, 2001
Press release from the issuing company
Lexington, Kentucky, USA - WhatTheyThink.com, the leading on-line community serving the print and graphic arts industry, has completed a buy-out led by select management and a group of private investors.
Previously, WhatTheyThink.com was a business unit of City Information Services (CIS). Other business units of CIS included GetMeSales.com, PressOnSmiles and City Print Services. CIS was heavily exposed to customers in technology and ceased operations this summer. CIS had 20 employees. The information services business was owned by five private investors including founder, Randy Davidson.
Among the assets acquired in the transaction from CIS was certain intellectual property and the WhatTheyThink.com name. Davidson has been appointed to continue as President of WhatTheyThink.com.
“It’s been a tough year for many in the graphic arts industry and CIS was not spared from the realities of current business conditions. I am delighted to be part of this new team in moving WhatTheyThink.com forward,” said Davidson. “Investors, including myself, believe that WhatTheyThink.com has an extremely promising future. We have an excellent nucleus of talent, an experienced Board of Directors and a singular focus which will lead us to profitability by the first quarter of 2002.”
J.C. Thompson, Non-Executive Chairman, said there has been no disruption to services at WhatTheyThink.com’s web site. “We have communicated with strategic partners, key customers and vendors in this process. During this time, we have made significant announcements with the Printing Industries of America, Xerox, CAP Ventures, Xplor International and creativepro.com. These deals and our growing membership validates WhatTheyThink.com’s leadership position.”
WhatTheyThink.com is the print and publishing industry’s leading online community. The company offers a mixture of free and subscription-based content for industry executives. Additionally, WhatTheyThink.com provides a robust content syndication program serving related web sites.