RentMyDVD.com Looking For A Partner?14 May, 2002 By: Holly J. Wagner
Online rentailer RentMyDVD.Com has retained Harari & Associates, Inc. to help evaluate opportunities for mergers and acquisitions as RentMyDVD's biggest competitor, Netflix.com, prepares for an initial public stock offering.
"We are approached almost weekly by companies ranging from brick-and-mortar stores to DVD equipment manufacturers," said Hyong-Bum Kim, CEO of RentMyDVD.Com.
"With its rapidly growing subscriber base and top-notch leadership, RentMyDVD.Com can choose from a wide range of possibilities in building the company," Harari said. "It is always very exciting to help a company chart its future direction and we look forward to working with RentMyDVD.Com.”
RentMyDVD.Com offers about 10,000 titles. Subscribers may pay a flat monthly fee that lets them take out between two and 10 selections at a time, or "on-demand" customers may pay a fee for each DVD just as they would at a brick-and-mortar video store. The cost includes shipping and prepaid return envelopes.
Founded in 1999, the company offers a selection of foreign, educational and hard-to-find films and has doubled in size in the past two months, according to a press release. Headquarters are in Los Altos, Calif., and distribution centers are in California and Newark, New Jersey.
"With Netflix preparing for its initial public offering, companies involved in the DVD market at all levels are looking at new ways to compete," he said. "We are evaluating our opportunities, and we are very pleased to be working with Steve Harari and his colleagues. Steve has over 20 years of experience as both a corporate executive and entrepreneur and has helped dozens of Silicon Valley companies complete significant transactions and position themselves for success.”
Harari & Associates was founded in 1997 by Steve Harari, former president of EIT Corporation, an Internet research and development firm that was acquired by VeriFone in late 1995. He previously was vice president of marketing at Schlumberger Technologies and Zehntel, Inc., now part of Teradyne. The firm offers interim management and executive coaching in positioning companies for mergers and acquisitions, joint ventures and significant financing events.