Internet Capital Group Acquires GovDelivery & GovLoop

Home Forums Acquisitions Internet Capital Group Acquires GovDelivery & GovLoop

This topic contains 5 replies, has 4 voices, and was last updated by  Tricia 7 years, 11 months ago.

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  • #88429

    Alex George
    Participant

    Wayne, PA – January 5, 2010 – Internet Capital Group, Inc. (Nasdaq: ICGE) today announced that, together with management, it has acquired GovDelivery, Inc. (“GovDelivery”). GovDelivery, based in St. Paul, Minnesota, is the leading platform provider of government-to-citizen digital communication solutions. ICG paid $19.7 million for 89% ownership of GovDelivery.

    Full Article HERE

  • #88439

    Tricia
    Participant

    Interesting! Thanks for sharing.

  • #88437

    Steve Ressler
    Keymaster

    Happy to answer anyone’s questions…doesn’t really change much on the GovLoop…more of a behind the scenes investor-stuff.

    Same mission and vision – trying to connect govt to improve govt. Same team – me, Andy, and Megan trying to connect more people on more solutions to do more good.

    And I’m still chillin’ at Starbucks or Panera most of my days :0)

  • #88435

    Alex George
    Participant

    89% sounds like a pretty controlling stake in the company. Fascinating to see all this develop. TFCN may be the next to go :).

  • #88433

    Joshua joseph
    Participant

    Steve – think it would be good for you and/or Scott to say a bit more about this. But rather than do it here, the better place would probably be here, where there is already a rich discussion from several months ago when GL was acquired by GovDelivery. I’d be interested in you guys revisiting the comments/concerns about nothing changing and the assurances of how user generated content and personal info would be used going forward. Scott did a great job addressing issues/concerns earlier, but it’s not clear how things may be affected with ICG now owning an 89% share of GovDelivery. Thx.

  • #88431

    Steve Ressler
    Keymaster

    Cool..just put up another blurb…Nothing really changing with ICG angle…just more resources to grow…On GovLoop same holds true about UGC and info from before

    Scott has some good comments here: Burns said the deal was an opportunity for his firm to shed its dot-com era investors and expand its efforts to help federal agencies adopt social media.

    “We were founded at the end of the dot-com era. As we’ve matured, the time horizon has lengthened and we really wanted a partner who could help reset the clock,” Burns said.

    “There should be no changes to operations or how we work with clients. It’s really just having a better partner [in ICG] who shares a vision with management,” he said.

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