Proxicom

Last updated
Proxicom
Company typePrivate
IndustryAutomotive, Financial Services, Retail & Consumer Goods, Healthcare, Technology & Media, Government, Energy & Utilities, and Industrial Materials & Goods
Founded1991
Headquarters Flag of the United States.svg New York, New York, United States
Key people
Raul Fernandez, CEO
Paul Cooley, President
Blue Van Dyke, EVP, Sales and Marketing
Ann Gaglioti, EVP, Operations
Tim Warder, SVP, Corp. Strategy
ProductsInteractive Strategy & Optimization; Creative Design & User Experience; Marketing Services; Technology, Development & Systems Integration

Proxicom, Inc. was an interactive agency that developed custom-tailored interactive and web-enabled solutions. Founded in 1991 by American entrepreneur Raul Fernandez. Proxicom provided services for a number of industries.

Contents

History of Proxicom

Overview

Proxicom, originally known as Proxima, was a systems integrator based in Reston, Virginia. The original founder and CEO was Raul Fernandez. During the mid- and late nineties, Proxicom focused on the design and development of websites for companies including MCI, America Online, Marriott, Prudential, Morgan Stanley, and ExxonMobil.

In 1997, Proxicom became famous for developing polymer land - a disruptive online distribution platform for plastics following Jack Welch's motto "destroy your own business". polymerland is one example for B2B value chain disruption of the e-business era. Proxicom Develops Polymerland's New Web Site

In 1998, Proxicom purchased two organizations based on the West Coast of the United States. The first acquisition was Ibis Consulting, a technical integration firm located in San Francisco, California. The second purchase was a user experience and creative design boutique entitled Ad Hoc based in Sausalito, California. With these additions, Proxicom had a nationwide presence with 7 office locations and more than 1,500 personnel.[ citation needed ]

In 1998, Proxicom acquired first customers in Europe, starting with projects at BMW Financial Services in Munich, Germany, where the first office was opened outside of the U.S.. The European offices contributed large Fortune 500 customers like Renault, DuPont Engineering Polymers, GE Plastics, and Deutsche Bank.[ citation needed ]

On April 14, 1999, Proxicom became a publicly traded organization listed on the NASDAQ stock exchange under the trading symbol PXCM. This IPO netted Proxicom investors $58.5 million and Proxicom became known as one of the "little five" — competing against MarchFirst/CKS-Web, Sapient, Scient, and Viant — within the interactive consulting arena.[ citation needed ]

In June 1999, Michael D. Beck was promoted to Executive Vice President, Client Services for the Americas [1] and Proxicom grew to more than $200 million in revenues in 2000 with approximately 1,700 workers. Beck would later join The IQ Business Group, Inc. (IQBG) as president and CEO. In January and February of that year, Michael Hansen and Heiner Rutt joined the company as vice president for international operations and president respectively. [2] Rutt left to join the Carlyle Group, the global private equity firm in 2002, and Hansen moved to Bertelsmann in 2001. [3] [4]

The Dot Com Bubble

In April 2001, Proxicom was purchased by Dimension Data, a South African-based networking services company. Dimension Data focused on the design, development, and construction of networking systems for global organizations. The goal of the Proxicom purchase was to quickly establish a services practice and brand presence within the United States.

The Rebirth

In 2004, The Gores Group LLC, a privately held investment firm based in Los Angeles, purchased Proxicom from Dimension Data. In 2005, Proxicom expanded its industry offerings through the purchase of a healthcare services firm, Daou Systems, Inc. Through diligent management and financial oversight, Proxicom leadership and the Gores Group successfully navigated the hurdles of the .com era to reestablish Proxicom within the interactive agency space.

In 2007, Proxicom was purchased by iCrossing. [5] [6]

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References

Footnotes
  1. ↑ "PROXICOM INC, Form 10-K, Annual Report, Filing Date Feb 23, 2001". secdatabase.com. Retrieved May 15, 2018.
  2. ↑ (June 26, 2000) Reston firm goes global The Washington Times
  3. ↑ Chinwala, Yasmine (29 May 2002) Carlyle hires Rutt to take over German office Financial News
  4. ↑ Executive Profile - Michael E. Hansen Bloomberg Business
  5. ↑ "iCrossing Acquires Proxicom After $62 Million Funding". Search Engine Land. 2007-07-31. Retrieved 2017-10-13.
  6. ↑ "iCrossing Doubles Size With Proxicom Buy". www.mediapost.com. Retrieved 2017-10-13.
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