Contact Information: Contact: Steve Luba Director of Communications Sell My Timeshare NOW 603-516-0649 steveluba@sellmytimesharenow.com Tricia Bradley Marketing Manager Edison Venture Fund 609-873-9224 tricia@edisonventure.com
$8.5 Million in Expansion Capital for Timeshare Resale Company Sell My Timeshare NOW
| Source: Sell My Timeshare NOW
DOVER, NH--(Marketwire - December 16, 2008) - With an $8.5 million injection of capital, Sell
My Timeshare NOW launches a new growth and expansion plan designed to
better serve the timeshare resale needs of both consumers and the timeshare
development industry. After extensive diligence, Edison Venture Fund has
become Sell My Timeshare NOW's sole institutional investor, continuing
Edison's investment commitment to high-growth, entrepreneurial, technology
companies.
Sell My Timeshare NOW and its family of websites provide advertising tools
and marketing services to assist owners with timeshare resale and rental options. In addition to its by-owner
advertising platform, the company also offers success-based services
through its brokerage arm, Timeshare Broker Services. The company has
experienced dramatic growth so far in 2008 with more than 23 million
visitors and over $1 million in daily offers to buy or rent timeshare, landing it as one of the fastest growing privately
held companies according to Inc.com. Despite the economic downturn, Sell My
Timeshare NOW has experienced a 90 percent increase in the number of offers
to rent or buy timeshare advertised
through its website and a 74 percent increase in the dollar amount of those
offers over 2007.
Jason Tremblay and co-founders Mark Eldridge and Cindy Gonzalez started
Sell My Timeshare NOW in 2003 as a home-based business with three
employees. Through cutting-edge internet search technologies and excellent
customer service, the company has grown to over 150 employees with offices
in Dover, NH, and Orlando and Tampa, FL.
Jason Tremblay, company's CEO and founder, explains, "Sell My Timeshare NOW
is well on its way to become the de-facto destination for the vacation
ownership secondary market. With Edison as our investment partner, we can
expand our innovative, business-to-business solutions in ways that will
provide proactive, developer-friendly solutions."
Michael Kopelman, Principal at Edison Venture Fund, noted, "The company's
search engine leadership drives massive exposure to sellers. Buyers now
have the ability to purchase timeshare intervals online at attractive
discounts to retail prices."
Tremblay elaborates, "Sell My Timeshare NOW is already the global leader in
online timeshare advertising and the number one resale solution for
consumers today. Edison's due diligence recognized the utility of our
platforms. Edison's investment enables Sell My Timeshare NOW to further
expand, offering resale and rental solutions for both timeshare developers
and owners.
"We understand that the secondary market has been highly inefficient in the
past. Our goal is to provide real solutions that create tangible results
for timeshare owners and developers," said Tremblay.
About Sell My Timeshare NOW
The company is the recognized global leader in online timeshare resale and
rental marketing with over $400 million in offers through its websites in
2008. The company's flagship website property, SellMyTimeshareNOW.com,
provides internet advertising and marketing solutions for timeshare owners
who seek to sell timeshare or rent timeshare. In addition, the company also
offers success-based services through its brokerage arm, Timeshare Broker
Services. Headquartered in Dover, NH with offices in Orlando, FL and Tampa,
FL, the company has over 150 employees and was recently recognized as one
of the fastest-growing privately held companies in the country by Inc.com.
About Edison Venture Fund
Established in 1986, Edison partners with entrepreneurs, service providers
and other financing sources to build successful companies. Edison provides
capital and value-added services to expansion stage ($5 to 20 million
revenue), information technology businesses. Initial investments range from
$5 to 8 million. Edison typically serves as a sole or lead investor in
financings up to $10 million. In addition to providing expansion capital,
Edison funds management buyouts, recapitalizations, spinouts and secondary
stock purchases.
Edison's investment professionals are based in Lawrenceville, NJ, McLean,
VA, New York, NY, Needham, MA, and West Chester, PA. Industry specialties
include application software, communications, financial technology,
interactive marketing, healthcare, & pharmaceutical IT. Edison's successes
include Best Software, Dendrite, E-Transport, Gain Capital, Liberty Tax,
VirtualEdge, Visual Networks, Vocus and many other information technology
leaders, which have a combined market value exceeding $5 billion. Edison
currently has $550 million under management and is actively making new
investments. www.edisonventure.com