03.01.2006 17:15:00
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Raindance Launches New Online Event Management Services to Meet Customers' Desire to Outsource Multimedia Meetings, Events and Seminars
Raindance Communications (Nasdaq: RNDC) today announced plans toexpand and reorganize sales, service and support offerings anticipatedto accelerate revenue growth in the multimedia event market. The newevent management and support services include pre-event planning,event execution and post-event activities all targeted at delivering aseamless, end-to-end, event management solution to current andprospective customers.
"With the recent releases of Raindance Seminar Edition, RaindancePlayer, the light version of our software client, as well as theupcoming addition of webcasting to our product line, Raindance isideally positioned to support multimedia events for our customers,"stated Don Detampel, Raindance's CEO. "This robust product suitecoupled with the service and support initiatives that we areannouncing today will create a unique, full-service solution forcustomers who require flawless execution of large, multimedia events."
Frost & Sullivan is projecting the total web conferencing marketto grow from $705 million in 2005 to $3,085 million in 2011,representing a compound annual growth rate in excess of 27%. Over 50%of this market growth is expected to come from multimedia events orseminars.
A key component of Raindance's expanded multimedia event offeringsis the reorganization and expansion of its customer service andsupport functions to provide the customer a one-stop, full-servicemultimedia event solution. Peter Holst has been promoted to the newlycreated position of President and Chief Operating Officer to lead therestructuring. Holst brings fifteen years of business development andmanagement experience to the position, as well as six years ofexperience working in an executive business development role atRaindance. "A strong focus on the specialized needs and requirementsof our customers is essential for success in the multimedia eventmarket," said Holst. "We see a clear customer trend towardsout-sourcing the planning and execution of multimedia events. Our newservices will add incremental value to our current portfolio ofsolutions, while allowing our customers the flexibility to pick andchoose event support and management that meets their individualneeds."
Holst will have complete operational responsibility for sales,engineering, marketing, account management, client services,professional services and operations under the new organizationalstructure. Holst will report directly to Raindance CEO Don Detampel.As part of this restructuring, Randy Atherton, Raindance's currentExecutive Vice President of Sales and Marketing, will be leaving theCompany.
About Raindance Communications
Raindance Communications, Inc. (Nasdaq: RNDC), the leader inintegrated multimedia conferencing services and support, brings anentirely new level of simplicity and interaction to remote meetingsand events. Its suite of best-in-class services, Raindance SeminarEdition and Raindance Meeting Edition, redefine the everyday meetingexperience. Thousands of corporate customers currently use Raindance'stechnology to more effectively communicate with colleagues, vendors,customers and partners around the world. For more information, pleasevisit www.raindance.com or call 800.878.7326.
Safe Harbor Statement under the Private Securities LitigationReform Act of 1995
This release contains forward-looking statements, includingexpectations regarding accelerated revenue growth or implications ofgrowth at web conferencing market rates from organizational changes,future company and service performance, market acceptance and customeradoption and increased use of our services. These statements aresubject to risks and uncertainties, which could cause future events todiffer materially. These risks and uncertainties include employeeretention, the failure or interruptions in the software, systems ornetwork underlying Raindance's services, competition from presentlyexisting and new competitors, price pressure, and difficultiesadopting new customers and increasing customer usage our services.Additional information concerning factors that could cause actualresults to differ materially from those contained in theforward-looking statements can be found in Raindance Communications'filings with the Securities and Exchange Commission. Copies of filingsmade with the SEC are available through the SEC's electronic datagather analysis and retrieval system (EDGAR) at www.sec.gov. RaindanceCommunications assumes no obligation to update the forward-lookingstatements included in this document.
Raindance, Raindance Communications, SwitchTower and OpenGo andour logo are trademarks or registered trademarks of RaindanceCommunications, Inc. All other company names and products may betrademarks of their respective companies.
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