SAN MATEO, Calif., Feb. 5, 2010 (GLOBE NEWSWIRE) -- DemandTec, Inc. (Nasdaq:DMAN), a leading provider of on-demand optimization solutions for retailers and consumer products manufacturers, today announced that after the close of stock market trading on February 4, 2010, it received notice from James Dorrian, a managing member of Crosspoint Venture Partners 2000, L.P, that two of Crosspoint's venture funds, Crosspoint Venture Partners 2000 (Q), L.P. and Crosspoint Venture Partners 2000, L.P., had distributed to its limited and general partners an aggregate of approximately 6.0 million shares of DemandTec's common stock after market close on February 4, 2010.
Mr. Dorrian was formerly a member of DemandTec's Board of Directors until his resignation as a Director in February 2007, prior to the Company's initial public offering of common stock in August 2007. The shares distributed by Crosspoint represent approximately 20.7% of DemandTec's outstanding common stock, and represent all of the remaining shares of DemandTec's common stock held by Crosspoint. DemandTec believes that the substantial majority of the distributed shares will be freely tradable in the public market without manner of sale or volume limitations.
About DemandTec
DemandTec (Nasdaq:DMAN) enables retailers and consumer products companies to optimize merchandising and marketing decisions, individually or collaboratively, to achieve their sales volume, revenue and profitability objectives. DemandTec software services utilize DemandTec's science-based software platform to model and understand consumer behavior. DemandTec customers include more than 195 leading retailers and consumer products manufacturers such as Ahold USA, Best Buy, ConAgra Foods, Delhaize America, General Mills, H-E-B Grocery Co., Hormel Foods, Monoprix, PETCO, Safeway, Sara Lee, The Home Depot, Walmart and WH Smith. Connected via the DemandTec TradePoint Network™, DemandTec customers have collaborated online with over 2.8 million trade deals. For more information, please visit www.demandtec.com.
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