CLEVELAND, Ohio, March 1, 2001 - e2grow, inc., an e-commerce and web site services provider to small businesses and their local communities, today announced that it has acquired BuildOhio.com, an online contractors directory, and will incorporate its online marketing presence for area contractors into the e2grow network of community-based web sites.
e2grow also announced that it would offer immediate access to its proprietary suite of e-commerce and site maintenance tools to all BuildOhio.com contractors.
Financial terms of the agreement were not disclosed.
The acquisition of BuildOhio.com, a privately held company in Cleveland, Ohio, is another strategic initiative of e2grow to deliver the connective powers of the Internet to local businesses within an easy-to-use environment. e2grow's core competencies are connecting local businesses to local consumers through informative web portals, while providing world-class e-business tools that grow both customer base and profit centers.
The strategic purchase of the online contractor-to-consumer web portal provides another connective component to drive suburban residents to e2grow's local news, information and shopping web sites.
In announcing their relationship, Dennis Barba Jr., e2Grow Chairman and CEO, said, "We're thrilled to bring BuildOhio.com into the e2grow family. Their web portal has been a great tool for homeowners wanting to connect directly to area contractors, get answers to their questions, and evaluate the best contractor for the job. Our company has been built on this same principle of bringing local customers and businesses together through the power of shared information. The addition of BuildOhio.com is a natural extension for us." Additionally, Barba added, "The addition of BuildOhio brings another set of paying customers to e2grow. Unlike many Internet startups, BuildOhio did not give their services away. Each customer is revenue producing. e2grow has focused on acquiring customers who pay for services. More importantly, e2grow acquires profitable customers. One of our main goals is to acquire customers who bring in more revenue during the first year than our cost of customer acquisition. The BuildOhio purchase fits perfectly into our customer cost model."
e2grow offers comprehensive e-business packages at affordable rates. For as low as $30.00 per month, business subscribers can have their own web site, the ability to easily update it with e2grows' e-site buildersm, and access to a customized business news and services portal through e2grow's exclusive eMarketWindowsm. Subscribers also enjoy both banner advertising and local listings in e2grow's network of suburban news and information web sites.
Specialized versions of all e2grow services will be available to all BuildOhio.com contractors. Additionally, e2grow is in the process of re-building the BuildOhio site. The new version will allow consumers to request a bid for a project. The bid request will be forwarded to local contractors, who can elect to bid on the job and contact the consumer.
BuildOhio.com was designed to provide homeowners with an easy way to choose a qualified contractor, statewide by county, via the Internet. The online contractors guide was launched by Paul Jonke and George Koenig in September, 1998.
Paul Jonke said, " We wanted to help the homeowner find quality contractors quickly and easily. We did that with two strategies. First, the site was designed to limit the number of contractors to ten in each category so the homeowner wasn't overwhelmed. Second, each contractor had a web site with complete company information, references, job photos and an email address for
easy communication."
BuildOhio.com quickly signed over 100 contractors and brought on corporate sponsorship. "We decided to search for a new owner that could come in and take BuildOhio.com to the next level," George Koenig said. "We wanted to offer our members services that would help their business grow further."
Koenig added that each of the founders had begun to be pulled in other directions during 2000, and that they were happy to announce the purchase by e2grow. "We had several purchase offers on the table, but we chose e2grow because we felt their services would accelerate the online marketing activities of our area contractors," Koenig said.
e2grow was designed to level the playing field for small businesses wanting to maintain an affordable marketing presence in the new media age. "In each of our suburban business communities, we provide a complete community news and information portal that reaches out to local consumers." Barba explained. "Now local homeowners can receive rough quotes, view online samples of contractor work, access a network of contractor web sites, and review referral listings as a result of our merged operations."
He added, "It's another component in our strategy of empowering small towns and local suburbs with the connective strength of web-based information."
About e2grow
e2grow provides online enabling services to small, local businesses and the communities they serve. The company focuses its services on 'micro' businesses (typically those with under ten employees and annual revenues under $500,000), in rural and suburban communities with populations between 10,000 and 50,000. e2grow's provides its professional subscribers with an instant web presence, consolidated access to online services, web site management tools, vertical market portals, national partnership purchasing network and e-commerce services. To enable interaction between small business owners and their local customers, e2grow provides each community with a premier online information source for local news, school information, and community events and activities. For more information about e2grow's services, visit the e2grow web site at www.e2grow.com or call 1-440-729-1774.
Contacts:
Dennis P. Barba Jr.
President & CEO
e2grow.com
440-729-1774
dbarbajr@e2grow.com
Robert W. Craig Jr.
President
Craig Advertising/The Craig Creative Companies
440-338-1572
craigcreative@att.net
