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Digital River: Companies
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At the conference, where Digital River is a premier sponsor, the company will host an exhibit booth, sponsor an evening social event for conference attendees and present breakout sessions. E-commerce experts from the company will speak on a variety of topics, including the state of the shareware industry, and strategies and tactics on how to increase online sales and effectively price software for online sales.
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Digital River went public on August 10, 1998, selling 3 million shares at $8.50 and garnering roughly $23 million after fees. At the time of the initial public offering (IPO), Digital River held contracts with 1,222 software publishers and 346 online retailers, including Corel, Lotus Development, Micro Warehouse, Network Associates and Symantec, among many others. The company maintained a database of roughly 123,000 software products from a variety of software publishers, including 18,000 titles and over 105,000 digital images, such as photos, clip art and typeface fonts.
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When Digital River started in 1994, the company set out on a mission to become a leading provider of global e-commerce services. Today, Digital River is living its mission. The company is currently headquartered in Minneapolis, Minnesota, with offices and more than 1000 employees located across the United States, Europe and the Asia Pacific.
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For the third quarter of 2005, Digital River reported $53 million in revenues, up 35% over last year. GAAP earnings were up 41% to $0.31 per share. On a pro forma basis, Digital River's earnings were up 72% from last year. While the company recorded some depreciation and tax benefits that boosted results a bit this quarter, it ... said its overseas expansion was growing and expressed hope that it will one day surpass 60% of total revenues. The company also forecast that the fourth quarter would match expectations: Full-year revenues would be $216 million, a 40% increase over 2004's results.
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In April 1999, Digital River reinforced its already strong industry position by acquiring Public Software Library and Maagnum Internet Group, two privately held companies that distributed software programs via the Web for some 2,500 shareware publishers. The company paid $6.5 million in stock and $2.5 million cash for Public Software Library and $5.2 million in stock for Maagnum. Both companies had been two of the largest distributors of registration codes, required to make downloaded software products work after trial periods expired. The acquisitions gave Digital River even further-reaching access to more shareware publishers.
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Digital River sells utilities, business applications, productivity tools, and digital imaging and security software. The company's eBay store is part of a pilot program to test the opportunity of offering downloadable software on eBay's site. eBay began another pilot program to test music downloads in July.
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