MecklerMedia Forgiven $5.7 million in Debt, Company Positioned to Become 3D Printing & Tech Trade Show Powerhouse
If you are at all involved in the business side of 3D printing, then you have likely either heard of, or taken part in, the Inside 3D Printing Conference and Expo series, which has been presented by MecklerMedia in numerous major cities around the world. The conference, which was launched almost two years ago, has been growing in both size and scope as each new event draws in new companies, new attendees, and some of the biggest names within the industry. I have personally had the opportunity of attending Inside 3D Printing conferences in New York City in April of this year, and in Santa Clara just last month.
MecklerMedia is the company behind this fascinating trade show, led by Chairman, CEO, and serial entrepreneur Alan Meckler. The company not only produces 3D printing related shows, but they also produce the Inside Bitcoins Conferences and Expo, as well as the AllFacebook Marketing Conference.
Back in May, MecklerMedia, at the time known as MediaBistro, announced a major business realignment, selling off a large portion of their media assets to Prometheus Global Media for $8 million in cash, to focus primarily on their trade show business. Following the asset sale, MediaBistro became MecklerMedia, and began trading under a new ticker symbol: (OTCQX: MECK).
With $8 million in cash the company seemed to be sitting pretty, despite owing a significant amount of money ($5.7 million) to founder Alan Meckler. Today, however, MecklerMedia announced that Alan Meckler has forgiven the entire balance of the loan, placing the company in prime position to achieve their long-term goals.
Alan Meckler, who told 3DPrint.com earlier today that the move was solely a “personal decision,” believes that it will improve “the chances for the company to be financially successful and it makes the stock more attractive as the company has no debt for the first time in over 10 years.”
Without a doubt, this move sets MecklerMedia up to become a powerhouse in multiple areas of the trade show industry.
“We are investing to hopefully become the most significant publicly traded trade show company,” explained Alan Meckler. “We have wonderful and dedicated employees and the debt forgiveness gives them a healthier and better company.”
Although Alan Meckler sees their 3D printing trade shows as having the biggest impact on the company right now, he already has a plan to expand into other upcoming technologies such as robotics. In May 2015, MecklerMedia will launch Robo Universe at the Javits Center in New York, which will be a Robotics trade show and conference.
As the markets for these upcoming technologies expand, MecklerMedia is placing itself in an ideal position within each of these markets to grow along with them. The news today will certainly go a long way to helping the company reach their current and future goals.
Have you attended any of the shows put on by MecklerMedia? Let us know your thoughts in the MecklerMedia forum thread on 3DPB.com.
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