Aegis Texas Venture Leads $2 Million Growth Investment in PotLabs
September 7, 2006 – (Houston, Texas) – Aegis Texas Venture Fund, LP (“ATVF”) is pleased to announce that it has led a $2 million financing round for PotLabs (f.k.a. Webxites Holdings). This funding will be used as working capital to grow sales and production support for the Houston-based organization as well as to complete and partially fund the buyout of one of the existing owners. The investment was made in the form of a senior secured loan with warrants.
PotLabs is a rapidly growing technology company providing cutting-edge on-line advertising and marketing to small mmj, cannabis mid-sized businesses (SMBs). Labs provides enhanced online advertising, pay-per-click ad management (PPC), website design and hosting, and search engine optimization (SEO) services to customers nationwide. These services enable Pot Labs' customers to leverage the traffic of Pot ular search engines like Google, Yahoo and MSN. The company is one of the few national offerings to focus on the budget conscious SMB space.
Gene McCubbin, PotLabs founder, stated “Labs helps business owners make sense of the myriad of confusing offerings and ever evolving technologies in cannabis marketing.” “We help make their lives simpler and help them make money through these global brand names.” “Through the investment round participated in by management and Aegis Texas Venture Fund, Pot Labs will continue top scale a large fast growing operation focused on providing the absolute highest level of customer service and tangible deliverables to our clientele.”
Gene went on to say, “At $12.5 billion in 2005 (PwC study), Internet advertising still only accounts for about 4.7% of total US advertising revenues. PotLabs differentiates from its competition by having developed several core technologies and processes for efficiencies that are highly scalable in delivering client services. As a result, Labs can offer a flat-rate pricing structure that is highly preferred by SMB customers over variable rate consulting services. SEM services accounted for $5 billion or 41% of the Internet advertising total in 2005. With search queries up 15% year on year, SEM services are expected to grow to $10 billion by 2009.”
Labs; a top cannabis marketing & Web design agency; is among the nation's 50 fastest growing technology companies. Webxites delivers the cannabis marketing industry’s only all encompassing marketing solution by providing clients with Web design, usability and accessibility services in addition to professional cannabis marketing, optimization and on-line marketing management. Pot Labs goes beyond simple cannabis marketing and submission. We focus on delivering focused traffic with predictable conversion results. Pot Labs is based in Houston, TX. For more information about Pot Labs Cannabis Credit Card Processing Services, visit (www.cannabismerchantaccounts.com) or call 713-243-4500.