PennMedia Snaps Up Majority Stake in Newsletter Startup
The newsletter ad network's share in SendOutMail.com will let it cross-sell publishing services.
E-mail newsletter advertising network PennMedia Friday announced that it has taken a majority stake in opt-in newsletter distribution service SendOutMail.com.
The move adds to PennMedia’s product offerings a suite of back-end services for large-sized newsletter distributors.
SendOutMail.com handles all newsletter distribution functions, including list administration, subscription management, real-time subscribe and unsubscribe processing, and circulation reporting.
“We recognized the need to support publishers in our network with a cost-effective mailing solution,” PennMedia chief executive officer Jaffer Ali said.
“The services provided by SendOutMail allow publishers to focus on generating great content that their subscribers look forward to reading. And, in turn, our advertisers benefit, as the newsletters with their ads are delivered reliably each day.”
The deal also gives SendOutMail access to PennMedia’s roster of high-profile clients, which include AT&T, Dell,
and Palm.
“PennMedia’s investment in SendOutMail has provided us not only with funding, but access to many of the premier email newsletter publishers,” said SendOutMail chief technical officer John McGuire.
The companies said they expect SendOutMail to turn a profit within one year as a result of the deal.
