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WTT Report Examines Spider Web of Connections at InnerWorkings

Press release from the issuing company

August 2, 2007 – (WhatTheyThink.com Exclusive) – Analyzing public filings of InnerWorkings Inc., WhatTheyThink has followed the strategies, acquisitions, links, and connections that have developed over the last several years as InnerWorkings has grown. Two exclusive articles – “The Inner Workings of InnerWorkings” and “Six Degrees of Kevin Bacon - Three (or fewer) Degrees of InnerWorkings” are available for Premium Access members at www.WhatTheyThink.com.

Since its IPO in August of 2006 and follow-on offering in January 2007, InnerWorkings Inc. has been in the industry spotlight. The stock price has been on a bit of a roller coaster ride, though the price is trending upward now.

For the first quarter of 2007 the company reported that revenue was up 162.7% over Q1 2006 to $58.9 million, gross profit was $14.4 million (up 219.3%), $3.8 million was recorded as income from operations (177.2% increase over last year), and net income of more than $2.6 million was up 222.1% over the same quarter in 2006.

Like many companies with numerous investors, InnerWorkings has a spider web of linkages between investors. Sorting out the many connections between the directors, executives, and investors in both InnerWorkings and related companies, such as Echo Global Logistics and SNP resulted in a “map” of linkages.

John R. Walter has the most complex connections throughout the InnerWorkings web. He is Chairman of InnerWorkings Board of Directors and Chairman of SNP, a Singapore-based company with a network of eight principal subsidiaries that are printing businesses: two in Singapore, five in Greater China, and one in Thailand.

Mr. Walter also serves on the Board of Echo Global Logistics, an enterprise transportation management firm. Walters is one of two investors in Echo Global Logistics C Investment Partners and one of two investors in Frog Ventures, both of which have invested in Echo Global Logistics.
Gail Nickel-Kailing, Senior Editor at WhatTheyThink.com, examines these and other connections at InnerWorkings. To read these reports, visit WhatTheyThink.com.

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