Toronto,
CN � May 2004 � VFM Interactive Inc.,
the leading provider of rich media content solutions to the lodging and
travel industry, announced that it has closed a Cdn. $3.0M round of financing
from J. L. Albright Venture Partners.
�VFM
Interactive�s rich media distribution service enables hotels to market
themselves more effectively on the Internet by making their videos, virtual
tours and other rich media marketing collateral available for viewing on
thousands of travel websites where consumers are researching and booking
hotels,� said Paolo Boni, president and CEO of VFM Interactive. �This is
why over 800 hotels currently use our rich media distribution services.
The investment by Albright Ventures will enable us to exponentially increase
the number of hotels we service over the next few years.�
�We
are delighted to have Albright Ventures as both an investor and long term
strategic partner,� added Paolo Boni.
Tawfiq
Arafat, a principal at Albright Ventures said �We believe the continued
growth of online travel and broadband adoption together with VFM Interactive�s
existing relationships with some of the largest third party travel sites
gives VFM Interactive a tremendous opportunity to rapidly gain market share
and expand its already impressive customer base. We are convinced VFM Interactive
has superior technology, top-notch talent and an experienced management
team. We are excited to be involved and support the company�s continuing
momentum.�
About
J. L. Albright Venture Partners
Toronto-based
J. L. Albright Venture Partners invests in emerging Internet, e-commerce,
networking and software companies with exceptional prospects for growth,
superior technology and a sustainable competitive advantage. For more information
visit www.jlaventures.com.
About
VFM Interactive Inc.
VFM
Interactive is the leading provider of rich media content solutions to
the lodging and travel industry. The company produces streaming videos,
virtual tours and other interactive content for client hotels and utilizes
a proprietary technology to manage, assemble, distribute and track the
performance of rich media content for a growing number of client hotels
and partner travel websites. VFM Interactive�s solutions help clients to
drive increased online bookings. VFM Interactive now provides content distribution
services for more than 800 individual hotels and resorts, including Choice,
Crowne Plaza, Hilton, Holiday Inn, Interstate, Marriott, MGM, Outrigger,
Radisson, Regent, Sheraton, W, Westin, and Wyndham properties. Our hotel
clients� rich media content is distributed to over 5,000 travel websites,
including four of the top 10 travel sites.
For
more information, please visit www.vfmii.com.
|
Contact:
Paolo
Boni
VFM
Interactive Inc.
416-593-6634
x269
Email:
paolo.boni@vfmii.com |