Canada

Montreal company hits it big with e-fundraising

A small Montreal Internet company has just made the deal of a lifetime. The company specializes in fundraising over the Internet and has been sold to an American Internet giant.

The price tag was $25 million dollars, and the deal could create 200 jobs in Montreal.

Entrepreneurs in Old Montreal's Multi-Media City are hailing the announcement as a local success story for two young graduates. One of them is the company's vice-president Eric Boyko, who says he's thrilled Efundraising.com has grown into a world leader in on-line fundraising.

Boyko says the deal is a major achievement for his young company.

"I just hit 30 last week so I'm getting to be one of the old ones," he jokes.

E-fundraising provides online fundraising for some 8,000 schools across the US, and the American company ZapMe saw its potential.

It will provide the Montreal company with an enormous distribution network because it's a world leader in on-line educational tools.

The concept of selling chocolate bars by e-mail instead of door-to-door excited president Rick Inatome.

We can see that it will move faster to the Internet model than any other industry that we see in the horizon. Faster than ticket-selling, or books or life insurance sales."

Inatome says he was attracted by Montreal's wealth of talent in multi-media technology. And Efundraising.com is promising it hasn't sold itself out to an American company.

It says the deal will create about 200 jobs in programming and customer service in Montreal.

Click here to visit Efundraising.com .