Vancouver, B.C. May 16, 2006 – Yellow Point Equity Partners LP (“Yellow Point”) is pleased to announce the closing of its investment in online marketing services provider, Blast Radius Inc. (“Blast Radius” or the “Company”). Proceeds of the financing will be used to fund the growing working capital requirements associated with the expansion of the business.
Blast Radius designs, develops and manages online marketing programs for a world-class client base. It utilizes expertise in business strategy, technology and design to create captivating user experiences for some of the world’s largest consumer brands. To capitalize on the considerable growth in online marketing expenditures, Blast Radius’ offers three distinct practices: strategic growth, customer insight and experience marketing. In addition, it offers its customers operational and marketing managed services.
“We like the growing recurring revenue stream associated with Blast’s managed services business, its blue chip client list and the upside associated with the Company’s performance-based services contracts” said David Chapman, Managing Partner of Yellow Point. “Blast Radius is very well positioned in this rapidly growing market sector.”
The investment was structured to include both convertible debentures and mezzanine debt financing.
ABOUT YELLOW POINT
Yellow Point Equity Partners is a private equity investment firm with significant operating and investment experience. It invests in outstanding management teams of later-stage growth companies based primarily in western Canada and aims to be the long-term partner of choice for Canada’s leading mid-market companies. Yellow Point’s approach is supportive, hands-off with respect to day-to-day operations and active when it comes to strategic decisions and board work.
For more information, please contact either Brian Begert or David Chapman, or visit www.ypoint.ca.