LOUISVILLE, KY (April 25, 2003) — Chrysalis Ventures, Kentucky’s largest venture capital firm and a leading source of equity capital for young growth companies in the Southeast and Midwest, announced today that it has agreed to invest in Information Outfitters, a Louisville-based publishing company launched by local entrepreneurs Joe Pierce and Bob Ford.
Information Outfitters owns and operates EMAZING.com, a service that delivers more than eight million daily email newsletters covering a wide range of topics including home repair, cooking, and technology to more than five million unique subscribers. Headquartered in Louisville, EMAZING.com was founded in 1998 by Pierce and Ford, sold to Sony Music in 1999, and acquired by Information Outfitters earlier this month.
“We are delighted that Chrysalis Ventures has come on board,” said Joe Pierce, Information Outfitters’ President and Co-founder. “With their help, we have the opportunity to build a truly great publishing company in short-order. We’ll use the capital they’ve provided to hire employees, develop our technical infrastructure, and most importantly – to launch new products.”
“Since the collapse of the Internet bubble, online publishing businesses have evolved and are finding ways to make money and build financially attractive businesses using the Internet. We are excited to be working with experienced publishing executives who have unique insights into blossoming opportunities in new media businesses,” said Bob Saunders, Managing Director of Chrysalis Ventures.
“Almost anyone you meet is passionate about some topic: technology, personal finance, home repair, gardening, cooking, etc.,” said Bob Ford, Information Outfitters’ Vice President and Co-founder. “Folks spend billions of dollars every year on books, magazines, and print newsletters to feed these passions. Our goal is to use the Internet to provide them with a faster, better and cheaper way to get the information they need about the topics they love.”
About Chrysalis Ventures
Founded in 1993, Chrysalis Ventures is a leading source of equity capital for young growth companies in the Southeast and Midwest. Chrysalis invests primarily in early-stage and expansion-stage companies in technology-enabled business services, media and entertainment, and healthcare information technology and services. Based in Louisville, Kentucky, Chrysalis has more than $200 million under management and has made investments in 40+ companies.
For more information, please visit www.chrysalisventures.com
About Information Outfitters
Information Outfitters is a special-interest publishing company. Via its flagship service EMAZING.com, Information Outfitters delivers more than 8 million newsletters covering topics like home repair, cooking, and technology to more than 5 million subscribers every business day. Founded in 2003, Information Outfitters is headquartered in Louisville, Kentucky.
For more information, please visit www.informationoutfitters.com