Marketwired

Marketwired
Privately held
Industry News dissemination
Founded 1982 (as Canadian Corporate News)
Headquarters Toronto, Ontario, Canada
Area served
 Canada, United States, United Kingdom, Europe, Asia, and Latin America
Key people
 Adnan Ahmed (President and Chief Executive Officer)
Services Online press release and content distribution. Social media monitoring and research.
Owner Nasdaq, Inc.
Number of employees
 300+
Subsidiaries Sysomos
Website http://www.marketwired.com/

Coordinates: 43°38′36″N 79°22′51″W / 43.64328°N 79.380854°W / 43.64328; -79.380854 Marketwired is a press release distribution service headquartered in Toronto, Ontario, Canada. Marketwired was founded in 1993 and incorporated in the U.S in 1999. The company distributes press releases via traditional methods (Associated Press, Bloomberg, etc.) as well as new media methods and other services.

Corporate history

Marketwired was founded as Internet Wire in October, 1994 by PR agency owner Michael Terpin and online marketer Michael Shuler in Los Angeles, CA. It received $17.5 million in venture capital in January 2000.[1] The company changed its name to Market Wire in April, 2003, after making a partnership with NASDAQ, where its services would be recommended to listed companies.[2]

In 2000, a former employee of Internet Wire used the service to perpetrate an insider trading scam. He shorted Emulex stock, then published a fraudulent press release reporting problems at Emulex Corporation, which lost 62 percent of its value in morning trading. He was found out by the FBI and sentenced to 44 months in prison.[3]

For more details on this topic, see Emulex hoax.

In 2006, Marketwired (then known as Marketwire) was acquired by CCNMatthews, a 25-year-old news distribution company in Canada. The company adopted the name Marketwire unilaterally. At that point, it was majority-owned by OMERS Private Equity,[4] which manages the private equity activities of OMERS Administration Corporation, a Canadian pension fund. The company's history can be traced back to 1957.

In July 2010, Marketwire acquired Sysomos, a social monitoring and analytics service, offering customers the ability to track their social presence across sites like Facebook and Twitter.[5]

In October 2011, Marketwire filed a lawsuit accusing PR Newswire of trying to steal confidential information and trade secrets, seeking at least $25 million in damages.[6]

In April 2013, Marketwire re-branded, changing its name to Marketwired and introducing the tagline “The power of influence” with an updated logo.[7]

In February 2016, MarketWired was acquired by Nasdaq, Inc.[8]

Services

The company's services are categorized into six offerings.

References

  1. ↑ "Internet Wire Launches Second-Generation Internet- Based Company News Service; Raises $17.5 Million First Round, Led By Sequoia Capital & Hummer Winblad Venture Partners". Market Wire. 2005.
  2. ↑ http://www.thefreelibrary.com/Renamed+Market+Wire+looks+to+Nasdaq+deal+to+boost+Business.+(Media+&...-a0101531967
  3. ↑ "Defendant in Emulex Hoax Sentenced": Securities and Exchange Commission, Litigation Release No. 17094, August 8, 2001.
  4. ↑ OMERS Private Equity
  5. ↑ "Marketwire Acquires Sysomos". Marketwired. Retrieved 24 June 2016.
  6. ↑ "Stop the press releases! PR Newswire sued by rival". Reuters. October 26, 2011.
  7. ↑ "Marketwire Rebrands, Names Delaney COO, Former Yahoo VP As CTO". MediaPost. April 2, 2013. Retrieved April 3, 2014.
  8. ↑ "Nasdaq to Acquire Marketwired - NASDAQ.com". NASDAQ.com. Retrieved 2016-02-12.
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