Co-Founder and CEO Alan Wallace Exits
Tony Winders To Take Over As President and CEO
SANTA MONICA, CALIF. (April 5, 2000) - InterActive Agency, Inc. (iAgency) announced today it has received a funding commitment from Beverly Hills-based Round One Investments. iAgency co-founder and CEO Alan Wallace will exit the business to pursue other ventures, whereupon co-founder Tony Winders will take over as Chairman, President, and CEO. Additional terms of the deal were not disclosed.
A formal announcement of the restructuring and iAgency's plans for future growth will be unveiled during a VIP press reception at 7 p.m. today at The Mayan Theater (1038 South Hill Street, Los Angeles), during the third annual "VIC @ The Mayan" party in conjunction with Spring Internet World.
"I have enjoyed my years at iAgency and am very proud of our accomplishments. I am also grateful to have represented such wonderful clients and for the opportunity to help pioneer Internet publicity, marketing, and advertising," said Wallace. "I now have the opportunity to pursue other interests, which are very exciting. This is a great move for me and will give iAgency what it needs for its continued strong growth," he said.
"This is one of the most important developments in the five-year history of iAgency and sets the stage for an aggressive expansion strategy," said Winders. "We plan to capitalize on our understanding of the maturing online advertising industry while positioning iAgency to become the world's first broadband advertising agency," said Winders.
Round One Investments is a Beverly Hills-based venture capital group co-founded and managed by John Robison and Richard Slaid that is focused on early-stage investments in Internet video enabling technologies, rich media online advertising, and content aggregation and digitization.
iAgency (InterActive Agency, Inc.) was founded in May 1995 by Tony Winders and Alan Wallace to serve the public relations needs of the emerging Internet industry. One of the first interactive agencies in existence, iAgency specializes in driving Web traffic and sales through online and offline promotion, publicity, advertising, and direct marketing services. In addition to launching The Palace, Inc., Warner Bros. Online, The Attitude Network, and HBO.com, iAgency's current clients include Warner Bros. Studio Store, NBC, F/X Networks, Stamps.com, FastBand GlobalCast, FansRULE.com, NeTVideoNetworks.com, and Clicksure, among other leading online entertainment and e-commerce companies. For more information about InterActive Agency, Inc., visit http://www.iagency.com, send an email to [email protected], or call (310) 664-6710.
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Contacts:
Teri Danz
Alan Wallace
[email protected]
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InterActive Agency, Inc.
http://www.iagency.com
2701 Ocean Park Boulevard, Suite 201
Santa Monica, CA 90405
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