Open Enrollment | Subscribe to Printing Impressions HERE
Connect
Follow us on
Advertisement
 

Internet watch 12/00

December 2000
Creo Increases Investment In printCafe
BURNABY, CANADA—Creo Products has completed a $62.5 million investment in printCafe in a private placement. Creo invested $32 million in a combination of cash and stock. The net proceeds from this offering will be used to repay outstanding debt, for working capital and for general corporate purposes.

"This is a strategic investment for Creo. We believe that printCafe is the only integrated e-commerce and e-production solution in the printing industry that provides value to print buyers, printers and print industry suppliers," says Mark Dance, executive vice president, Creo Products, and president of CreoScitex. "printCafe's products are an important part of our digital solutions and we look forward to continuing to sell printCafe's services through our sales force."

Existing and new investors participated in the private placement. Two new investors include HarbourVest Partners of Boston and Weiss, Peck & Greer. Existing investor Mellon Ventures also participated in the private placement. Initially, CreoScitex had backed the formation of printCafe in February of 1999.

*********

The Graphic Systems Div. of Fuji Photo Film USA has announced the development of an online Fujifilm Solution Center. The online solution center will consist of an e-catalog of products and consumables supported and hosted by GOprinter.com. The e-catalog will include a complete listing of all the products and consumables offered by Fujifilm's Graphic Systems Division. The site will also include an electronic imaging equipment configurator, which assists dealers and customers in determining what components are required for the configuration and installation of each piece of equipment.

Digital Art Exchange (DAX) has added DAX iSeries VPN to its managed Internet solutions product line. The DAX VPN solution combines all the benefits of private network solutions, which include security and performance, with all of the features of a Tier-1 Internet connection. The DAX iSeries VPN targets growing companies that want security and performance at a low, fixed monthly cost.

Mail-Well has partnered with printCafe and Sprockets.com to provide the technology backbone for its new e-business solution PRINTMAILWELL.com. PRINTMAILWELL.com is intended to be a tool that enables end-to-end online print management from design through delivery and invoicing.

J. Carter Beese has been elected to printCafe's board of directors. Beese is president of Riggs Capital Partners and vice chairman of Riggs & Co. He is responsible for all aspects of Riggs Capital Partners' venture capital fund allocation.

PrintNation.com has created an online outlet for first-quality printing paper, supplies and equipment. The outlet—which will offer major discounts off original retail prices—will feature a regularly changing inventory of products from industry manufacturers. The outlet will be a way for printers to save money on a wide variety of paper, supplies and equipment. The outlet grew from both printers' and manufacturers' desire for a convenient marketplace to buy and sell first-quality goods.

 

COMMENTS

Click here to leave a comment...
Comment *
Most Recent Comments: