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In December 1998, Venstone Ventures
announced plans to acquire Rainforest Publications of
PEI, publishers of an online information service called
Prospect Research Online (PRO). The service caters to non-profit organizations providing them with information on prospects for solicitation of donations. There are currently over 105,000 pages of information in the database. This is a lucrative market with the over 75,000 non-profit organizations in Canada alone having a combined budget of $86 billion. The American market is over five times as large. Clients for PRO included such notable organizations as Harvard University, the University of Toronto, the American Cancer Society, and the Canadian Institute for the Blind. The takeover, a share consolidation and the name change were completed in February 1999. Since then the client base has grown to include Cornell University, the Bronx Zoo, the Cedars Sinai Medical Center and over 300 other clients across the continent. Cindy Burton, developer of the PRO software started with the company as Chief Operating Officer and became its President and CEO in June1999. In August 1999 the company released Version 2.0 of the PRO software and launched an extensive campaign aimed at libraries. Over 40% of libraries contacted were interested in testing the product. By February 2000 the company was well along developing its Executive Alert executive recruitment program and website. It is expected to be fully functional by June 2000. Shares Outstanding: 11,818,568
Interview with President and CEO Cindy Burton on ROB TV - March 14th interview on ROB TV's The Bottom Line with Michael Vaughan. Link above is to high speed. For modem speed connect here. Address: Phone: 902-894-2600 This page last updated: March 19, 2000 |