Print
Email
Print Edition Stories
MHT's Galen Moore: Charity reseller takes sting out of overpriced tickets
MHT's Galen Moore: New 'hyperlocal' web trend
MHT managing editor Rodney Brown on NECN: 22 tech companies give back to community
BigBad Inc. has plans to pull in $600,000 in debt financing and equity warrants to fund the product spinoff of an alumni portal it has been developing for higher-education customers, its CEO says. The Boston-based web development company has so far pulled down $367,000 of the full amount from private investors, according to documents filed with the U.S. Securities and Exchange Commission.
Founded in 1997 by the merger of BigBad Design and Wingnet, BigBad has been bootstrapped until now, focusing on interactive development for institutions in health care and higher education. The privately held company now has about 50 employees and is profitable with just over $6 million a year in revenue, said CEO Ty Glasgow.
“We were like the iFactories (iFactory, a web development company acquired by RDW Group Inc. in 2004) and those kinds of companies — focused on the web rather than a specific industry,” Glasgow said of the company’s path through the late 1990s. “We said, ‘Let’s pick an industry. Let’s go deep so we can create value and decommoditize the web.’”
Clients have ordered custom alumni portals that combine fundraising and alumni engagement efforts with Facebook-like features, such as the ability to organize events and exchange messages. BigBad is using Microsoft Corp.’s (Nasdaq: MSFT) SharePoint document management platform to build the portals.
Glasgow said the company sees an opportunity for an alumni portal product, as several higher education institutions have expressed dissatisfaction with products on the market now, such as the alumni portal developed by Kansas-based iModules Software Inc.
With funding earmarked specifically for the project, BigBad will be able to separate product development from its clients’ timetables, he said.
Comments
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.
RSS Feeds
