Internet Stock Profiles| Internet Stock Profiles |
| Launched as a local Internet service
provider in Vancouver in 1995, I.D. Internet Direct has
grown to become a major competitor in the ISP
marketplace. It is Canada's largest non-telco,
non-cableco ISP. While I.D. Internet Direct was growing to 12 Points of Presence in Western Canada with a subscriber base of 35,000, similarly named Internet Direct of Toronto, a division of Tucows Interactive (the shareware people) was growing to 70,000 subscribers in Ontario. In 1998, the Toronto company was voted "favorite ISP" by the readers of Toronto Computes magazine In January of 1999, the two companies merged to become a national company. It also launched iDirectHosting.com, a website dedicated to facilitating getting businesses online. Where Internet Direct excels is in its customer service and its commitment to new technology. It made a bold move in May by forging an alliance with Look Communications to provide broadband wireless Internet access through Look's MDS technology. Look has access to 4 million potential subscribers in the London, Ontario to Quebec City corridor. Its shareholders include major players like CTV, Teleglobe and QuebecTel. On September 1st, Internet Direct and Look Communications announced a definitive agreement to merge the two companies. The merger took place Oct. 31 and the new amalgamated company is now known as Look Communications Inc. The merged company will apply for a NASDAQ listing before the end of the year. The company now boasts over 150,000 subscribers and has maintained a positive Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) for over a year. Its stock price has gained over 400% to mid-October since the beginning of 1999. Shares Outstanding: 30,150,000 (est.)
A Perfect Fit - July article from Telesystem News about the propoesed merger of Internet Direct and Look Communications. Rampart Associates Report - A report from early in 1999 just after the merger between I.D. Internet Direct and Internet Direct of Toronto. Address: Vancouver Address: Phone: (416)
233-7150 This page last updated: Nov. 30, 1999 |
Stock Symbol: LKC (CDNX) Profile News: Forums: |