Primedia Ventures (http://www.primediaventures.com), the venture capital arm of publishing and media giant Primedia Inc., has invested in Intellipost Corp. (http://www.intellipost.com), San Francisco. The amount of the investment was not disclosed but Intellipost says it brings total investment to more than $25 million.
Intellipost runs online loyalty-rewards programs, most notably Bonus Mail, with more than 1.9 million consumers enrolled.
Primedia is the parent company of DIRECT.
“By welcoming Primedia into our family, Intellipost extends its lead in the emerging industry of online direct marketing,” Steve Markowitz, Intellipost chairman & CEO, said in a statement.
The investment comes on the heels of Intellipost’s acquisition of key Internet properties formerly held by global information services giant Experian, including MotivationNet LLC, MyPoints LLC and DirectValue.com. As part of that transaction, Experian also took an equity stake in Intellipost. Experian, a subsidiary of Britain’s Great Universal Stores with annual revenues of $1.6 billion, now represents Intellipost through its 600-person global sales force.
“We were impressed with the growth prospects and strategic position that Intellipost has as the industry leader in online direct marketing and loyalty programs,” Larry Phillips, managing director of Primedia Ventures, said in a statement. “Our in-house direct marketing experts, such as those at Primedia’s publishing group, share my enthusiasm, and we intend to leverage our direct marketing assets on Intellipost’s behalf to generate new advertisers for Intellipost’s programs.”
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