News

ATMmagazine.com part of new online venture

August 29, 2000

ATMmagazine.com has spun off into a new Internet company, NetWorld Alliance LLC. The magazine was launched in June of 1998 by WaterMark Group, a business forms management company based in Louisville, Ky. Because of unprecedented growth and industry interest, WaterMark management has decided to create a new company to focus exclusively on Web-based communities. Since going online, ATMmagazine.com's monthly hit count has grown from 7,000 to more than 900,000. In late 1999, Inc. Magazine tapped it as one of 20 top small-business sites. These successes, as well as positive feedback from industry professionals, inspired the creation of NetWorld. "ATMmagazine.com's success caused us to re-assess our business model. We realized a new company focusing on the site could better manage its expansion," said Tom Harper, president of NetWorld Alliance, former senior vice president of WaterMark Group and publisher of the magazine. "NetWorld Alliance's sole business is operating ATMmagazine.com and planning for future expansion." As the first step in its plans for aggressive growth, NetWorld has made several executive appointments. Alan Fryrear, WaterMark Group's president and chief executive officer, has been named chairman of NetWorld Alliance. Richard Good joined the company as CEO. Good's previous experience includes real estate, various IBM executive positions and banking. "I was impressed with ATMmagazine.com's revenue growth, and our plans for improving the site are equally exciting," Good said. "I'm looking forward to my leadership role with this unique venture." Bob Fincher is NetWorld's new executive vice president of sales and marketing. Fincher was employed by the Maytag Company for 18 years, ultimately owning and operating one of the country's leading distributorships. Fincher's ATM experience includes consulting with a leading manufacturer for its distribution, sales and marketing strategies for a new line of ATMs. Most recently, Fincher was a principal of a Web development firm in Tampa, Fla., specializing in online marketing strategies. "My experience in the ATM and Internet industries gives me an extra appreciation for how fast ATMmagazine.com has grown," Fincher said. NetWorld is also adding new editorial, sales, accounting and administrative staff. Hinting at future growth, Harper said, "We'll soon announce our plans for vast improvements of ATMmagazine.com. I think our readers will like what they see."