SWMX, Inc. (OTCBB: SWMX), a leading electronic marketplace for buying and selling radio and television advertising time, has signed a lease that more than triples the size of the fast-growing company's headquarters along the "Silicon River" in Irvington, N.Y.
SWMX has signed a five-year lease for a new 23,000-square-foot space at Bridge Street Properties, a premier office complex located at the edge of the Hudson River.
"SoftWave has grown dramatically this year, to more than 50 employees from only 10 in January," said CEO Josh Wexler. "We expect to continue adding employees as we expand our exchange to serve new market segments, including political advertisers and broadcast television, enhance existing systems and strengthen our sales and marketing team. The additional space gives us the room to keep growing."
The office space SWMX will now occupy has a long history of incubating cutting-edge technology startups and Internet companies, a legacy that has prompted Wexler to dub Irvington's waterfront "the Silicon River." iWon, a pioneering Internet search company that later became part of AskJeeves.com and Ask.com, used to occupy SWMX's new space, as did online permission marketing pioneer Yoyodyne Entertainment before being sold to Yahoo Inc (Nasdaq: YHOO). Additionally, Squidoo.com, a fast-growing information-sharing site, is also based at the complex in Irvington.
"Irvington has been the home of a number of prominent Internet companies, partly because of its location minutes away from New York City and its businesses and talent," said Wexler. "It's an interesting history and I think SWMX will soon be counted among the Silicon River's exciting success stories."
Built in the 1800s, Bridge Street Properties is the former home of Lord & Burnham, long one of the world's premier greenhouse designers and manufacturers. Lord & Burnham ceased operations there in 1986 and the handsome brick factory buildings, which feature large windows and high ceilings, were converted into loft spaces and re-fit with state of the art voice and data technology, similar to buildings in Manhattan's SoHo neighborhood, dubbed the "Silicon Alley."
"It's a great building, bright and airy, and has a wonderful location that's near the railroad and highways," said Wexler. "I think we'll be here for years to come."
SoftWave Media Exchange is a revolutionary Internet-based marketplace that lets advertisers quickly and easily create targeted, ROI-based advertising campaigns and enables broadcasters to maximize the value of their inventory on a moment-to-moment basis resulting in increased efficiency and profitability for both parties. In a matter of minutes advertisers are able to create "instant networks," targeting media buys according to their desired criteria including location, cost, format, audience demographics and more. Advertisers and broadcasters alike benefit from SWMX's ability to track sales, handle billing and distribute content.
Unlike auction or subscription-based models, SWMX is structured to provide similar pricing and efficiency as a modern securities exchange, but with the added functionality of integrated campaign and inventory management tools. SWMX is an opt-in marketplace designed to serve the broadcaster and advertiser equally. There is no hardware to purchase, no software to install and no contractual obligation to transact, enabling advertisers and broadcasters to execute sophisticated media transactions on one platform, in one process, in real time, from any computer with an internet connection.
Founded in 2005, SWMX, Inc. and its wholly owned subsidiary, SoftWave Media Exchange (www.swmx.com), provides an efficient, dynamic and transparent open marketplace for the purchase, sale, management and distribution of advertising media time. The SWMX Marketplace currently includes SWMX Radio(TM) and SWMX Television(TM). SWMX Radio(TM) (www.swmxradio.com) serves a broad range of advertisers, agencies and Fortune 500 companies. It also serves leading radio stations across the U.S. representing 13 of the top 15 broadcast groups, 50 of the top 50 U.S. markets, 39 of the top 50 stations and a national daily audience of over 9 million listeners, or 40% of the total U.S. broadcast radio market, according to Arbitron*. Launched in June 2006, SWMX Television(TM) (www.swmxtv.com) serves the local spot cable market, delivering access to a national daily cable audience of over 25 million viewers representing all major networks. The Company plans to expand SWMX Television(TM) capabilities to support the local broadcast market in the fourth quarter of 2006. For additional information, please visit www.swmx.com.
*Arbitron Fall Book, 2005 / Winter Book, 2006 - All Numbers Based on Adults 18+ Ratings for Monday-Sunday 6 AM - 12 AM
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risk, uncertainties and other factors that may cause the Company's actual performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statement. Important assumptions and other important factors that could cause actual results to differ materially from those in the forward-looking statements are specified in the Company's filings with the Securities and Exchange Commission.