CMP Media Inc. Takes Stake in Cybergrrl, Inc.
CMP Media Inc. has taken a minority stake in Cybergrrl, Inc., the premier builder of online communities for women and girls, announced Michael S. Leeds, President and CEO of CMP.
"We've made an investment in Cybergrrl because we recognize the importance of women as online participants and purchasers of high technology," said Leeds. "This latest venture is in line with our commitment to be a leader in the development of Internet products and services."
The growing importance of women as a target for high-tech marketers, is supported by current research. According to IDC/Link, the female head of household is most influential in determining PC purchase decisions among first-time buyers. And women, who represented 33 percent of the online population in 1996, are expected to make up nearly half of all online users, or 43.3 million, by the year 2000.
"Working with CMP appeals to us because of the company's vision, expertise and reputation as a leading provider of high-tech information both online and off," said Aliza Sherman, Co-founder of Cybergrrl. "We also respect their company culture which has won CMP many awards including being named one of Working Mother Magazine's 100 Best Companies."
CMP's online strategy has been in place since the company launched all of its publications and business units onto the Web in late 1994, with TechWeb®. Recent investments include a joint-venture partnership with Florida-based WebConnect, a leading provider of Internet media placement services with more than 1,000 exclusive member sites, and a stake in Focalink, a Palo Alto-based company founded in 1995 to develop enabling technologies and services that optimize the highly-focused marketing potential of the Internet. Last month, CMP announced CMPnet, a new Web service that will be the hub for the technology and Internet communities, set to debut this summer.
Founded in January 1995, Cybergrrl, Inc. has quickly established itself as the leading builder of online communities for women and girls. Sherman has created the award-winning Cybergrrl Webstation (http://www.cybergrrl.com/), and founded Webgrrls, an international networking organization for women involved with or interested in the Internet. She has also established a successful Web marketing consulting business and is frequently quoted in the media, particularly discussing issues about women and technology. Cybergrrl plans to extend its franchise into other media including magazines, books, CD-ROMs and television as well as into merchandise, conferences and sponsored events.
CMP Media Inc. provides publishing, marketing and information services to the broad high-technology spectrum -- the builders, sellers and users of technology -- through print and electronic media. All of CMP's publications and online products can be accessed through the company's TechWeb site on the Web at http://www.techweb.com/. Print titles include EE Times, Computer Reseller News, InformationWeek, NetGuide Magazine, HomePC and WINDOWS MAGAZINE.
SOURCE: CMP Media Inc.