Cosmo DeNicola Companies News

Monday, August 12, 2019

American City Business Journals To Take Majority Stake In BizEquity

American City Business Journals ("ACBJ") today announced it has acquired majority ownership of BizEquity, the leading provider of cloud-based business valuation tools and private business data.

As part of the transaction, ACBJ, the nation's largest publisher of local business information, will make a significant capital investment in BizEquity to accelerate its growth.

BizEquity's patented software-as-a-service platform helps business owners value their businesses in real time. More than 625 financial institutions and 2,500 wealth advisors use BizEquity to prospect for clients and engage with business owners to help them understand critical business valuation information.

"Our business journals are trusted sources of information in 43 U.S. cities," said Whitney Shaw, ACBJ CEO. "Historically, our primary service has been providing breaking local business news to people in those markets. We remain committed to that important service. Through BizEquity, we can enhance our core offering by giving additional, valuable information and insights to businesses of all sizes and to the professionals who serve them. We're excited that BizEquity has joined the ACBJ family and look forward to growing the business together."

"Democratizing business valuation knowledge to the more than 31 million private businesses in North America has been our mission from day one," said Michael Carter, CEO and co-founder of BizEquity. "With ACBJ's coast-to-coast footprint and large audience of business owners, we will be able to accelerate that mission. No information is more critical to a business owner's future than knowing what his or her business is worth. BizEquity unlocks that information. We look forward to continued innovation and market leadership as part of ACBJ."

Financial terms of the agreement have not been disclosed.

Raymond James was the financial adviser to BizEquity on the transaction.

Original Article found at: https://www.streetinsider.com/PRNewswire/American+City+Business+Journals+To+Take+Majority+Stake+In+BizEquity/15805793.html

Tuesday, February 5, 2019

2019 Influencers of Finance Awards

Michael Carter, has been selected as an award recipient for The Philadelphia Inquirer’s 2019 Influencer of Finance Awards. Come celebrate Finance Industry Leaders on Thursday, February 28th, at the Crystal Tea Room in Philadelphia, PA.
As a winner, Michael was selected by Inquirer readers and evaluated by expert panel judges who felt he shaped, changed, and transformed the financial industry. From the countless nominations Michael was selected as part of 29 winners who will be honored at an awards ceremony, as well as profiled in a special section on the Sunday Inquirer which will reach nearly 1 million readers.
The program will feature keynote speaker, Patrick T. Harker, President and CEO at the Federal Reserve Bank of Philadelphia. The program will include a thought-provoking panel discussion highlighting FinTech (Financial Technology), an emerging industry that uses innovative technology that improves traditional activities in finance and delivery of finance. The panel will be led by Erin Arvedlund, Financial Columnist, The Philadelphia Inquirer.

Panelists:

Julapa Jagtiani, Senior Special Advisor, Federal Reserve Bank of Philadelphia.
Brendan McConnell, Chief Operating Officer, Brinker Capital

For tickets, visit: www.philly.com/financeinfluencers

For more event information, please contact Angelica Irizarry, Event Coordinator at The Philadelphia Inquirer at airizarry@philly.com

Thursday, January 3, 2019

BizEquity CEO Mike Carter Reflects on 2018 and Future

As we reflect on 2018, Cosmo DeNicola Companies’ portfolio company, BizEquity, has a lot to be thankful for and are equally as excited for what is in store in 2019.
BizEquity is in a relentless pursuit of their mission to democratize business valuation knowledge for the business owner. They couldn't do it however, without their clients and partners. The financial advisors, bankers, accountants, insurance agents and M&A advisors that subscribe to their platform help BizEquity fulfill that mission every day.

Today, when BizEquity is introduced to executives at top financial services firms all over, they often hear "what great timing as business owners represent the biggest opportunity for advisors the next decade with the $12 trillion-dollar wealth transfer that will be seen.” While that fills them with excitement, founder and CEO Mike Carter can't help but note that maybe it wasn't great timing 7 years ago when the idea was born, but today they are very pleased to have been early and to be the global market leader in this new bourgeoning space.

For as long as we can remember, there have been great data and resources available to the 1% of businesses that are either public, private equity or venture funded. However, 99% of businesses - the tax efficient SMBs that we all know and love - are under-served.

Financial services leaders tell BizEquity that their timing is "right" because they are seeing a transition happening. Not just the transition of $7 Trillion of business value (CNBC) that will change hands in the next decade, but the transition of attention. More and more attention is being paid to the 99% of businesses that fuel our economy because, as Mike Carter says, they are the "belly of the beast" for financial services.

They’ve long been confused as to how anyone that serves the business owner could ever provide proper advice, product, or services without an understanding of what that business is worth. Yet, only 2% of businesses (IBIS world study) value themselves in a given year. When you look at the traditional approach to business valuation, it becomes apparent that it wasn't built with the business owner in mind. It's expensive. It's offline. It's slow. It's highly intrusive.

As they look back at their user growth in 2018, and the success that their users have using their platform as the on ramp to their discussions with the business owner, they’ve never felt better about the good we are doing. Not just for their clients, but for the business owners they serve. As Mike says, when they talk to advisors about using their services to prospect and engage with business owners “we aren’t selling, we are helping.”

Thursday, June 28, 2018

BIZEQUITY SELECTED AS ENTREPRENEURS SUBMISSION PLATFORM FOR THE E360 AWARDS GIVEN TO THE BEST PRIVATE BUSINESSES IN THE U.S.

BizEquity, the world's leading online provider of business valuation data and online services, has been selected to provide the application platform for Entrepreneur Magazine’s e360 awards.

The partnership will harness BizEquity’s innovative big data platform and sophisticated algorithms to help identify winners for the Entrepreneur360 awards, which recognize the most entrepreneurial companies in America.

Using a proprietary algorithm and other advanced analytics to assess applicants’ quantitative and qualitative data, the awards spotlight top performers in the four major pillars of entrepreneurship: leadership, innovation, culture, impact and growth. Now in its fourth year, the awards have attracted more than 20,000 nominations from 50 states across America.

Mike Carter, CEO, BizEquity commented: “Entrepreneur is the leading voice for America’s innovators. We are proud to be partnering with this great media company as their big data platform for e360. BizEquity democratized business valuation knowledge for entrepreneurs around the world and now we are the platform behind naming the best businesses. We were one of the top 360 companies in the U.S. two of the last three years, now we are honored to be the system behind ranking the best businesses in the U.S.

Bill Shaw, President of Entrepreneur Media, Inc commented: “Our partnership with BizEquity makes the application process for e360 simple and streamlined, which is essential given that our submission volumes have growth exponentially year on year. The companies that win this prestigious award are among the finest businesses in the U.S. We are proud to partner with Mike and the BizEquity team on this strategic big data initiative that helps businesses across America win.”

Entrepreneurs can submit to be considered one of the top 360 companies in the U.S. by going

to: https://e360advisors.bizequity.com/apply

Wednesday, June 27, 2018

Online business valuation startup signs contract with TD Bank

BizEquity, a Wayne-based fintech startup that offers online business valuation services, has landed its first top 10 U.S. bank client.

TD Bank (NYSE: TD) of Cherry Hill said it has signed a contract to offer the valuation tool free of charge to its small and midsize business clientele across its Maine to Florida footprint.

Terms of the deal were not disclosed but BizEquity Founder and CEO Michael Carter said TD pays an annual fee to BizEquity for the right to provide the product to its customers free of charge.

The tool provides fair market, enterprise and liquidation values calculated in real time — Carter says as soon as 10 minutes — and based on current market factors. BizEquity will deliver detailed reports with valuation information and key industry performance indicators to TD Bank relationship managers, who then share it with the business owner.

Chris Giamo, head of TD’s commercial bank, said in an interview that with the economy booming, there is fierce competition that requires banks to differentiate themselves.

“Most entrepreneurs and family-owned businesses don’t have access to this type of service,” Giamo said. “So this can be a big help with things like tax planning, strategic and succession planning and analyzing funding and acquisition opportunities.”

Giamo said TD has about 500,000 business customers with annual revenues of $500 million or less in annual revenue that would be a sweet spot for BizEquity.

Carter formed BizEquity in 2010 and the company recently has begun to break even as the business strategy has been more focused on achieving 100 percent annual revenue growth. The company is investing in development, engineering and customer acquisition.

“I don’t want to slow down the growth,” Carter said. “It took seven years for SalesForce to become profitable. We’ll get there.”

Carter demurred when asked about annual revenue numbers but did say it is “somewhere in the mid-seven figures.”

BizEquity now has offices in London, Singapore and New Delhi, India. It uses financial service companies large and small, including locals such as Brinker Capital, Envestnet, Univest, MassMutual and Penn Mutual, to distribute the product.

Last September, BizEquity announced that it had joined with The Wall Street Journal and Dow Jones on the launch of a new valuation tool called ‘the WSJ Pro Business Valuator’ aimed at WSJ customers who are private equity investors, merger and acquisition advisers and entrepreneurs.

But the relationship with TD is important because it is the first major bank to contract to use the service. Carter pointed out that the deal with TD is not exclusive and could lead to more big banks becoming clients.

“Like I said, any chance you have to differentiate yourself from the competition is important,” Giamo said. “So the fact that we are the first to offer this gives us an advantage, even if others begin to offer it as well.”

Carter said three members of BizEquity’s advisory board had relationships at TD, which then vetted the product with some of its small business customers before agreeing to a contract.

Moving forward, Carter said BizEquity is working on an enhanced product that not only provides valuation but also suggests how to optimize the business moving forward.

Safeguard Scientifics founder Pete Musser has served as Carter’s mentor and BizEquity has co-headquarters at the Musser Group’s offices on Devon Park Drive in Wayne as well as 123 South Broad Street in Center City. Carter expects to move into new offices on the same Wayne campus within a year or so to accommodate planned growth.

TD Bank is a subsidiary of Toronto-based TD Bank Group. It is the second-largest bank based in the Philadelphia region by deposits.

Original article found at: https://www.bizjournals.com/philadelphia/news/2018/06/27/online-business-valuation-startup-signs-contract.html

Wednesday, September 6, 2017

BIZEQUITY PARTNERS WITH WALL STREET JOURNAL PRO TO DELIVER NEW BUSINESS VALUATION TOOL

BizEquity, the cloud-based business valuation platform, has partnered with Wall Street Journal (WSJ) Pro, a premium membership service for elite practitioners from The Wall Street Journal and Dow Jones, on the launch of a new valuation tool called 'the WSJ Pro Business Valuator'.

Aimed at private equity investors, merger and acquisition advisors, and entrepreneurs, the WSJ Pro Business Valuator is available as an additional offering to WSJ Pro and Wall Street Journal members.

Presented alongside WSJ Pro's curated news and analysis, the tool uses BizEquity data to provide business owners with valuations of their business and gives wealth advisors the ability to advise clients of their business value.

It also estimates the value of private businesses with publically available data, covering more than 33 million businesses in North America alone.

The partnership with WSJ Pro will help BizEquity reach a new, focused audience of professionals, while giving WSJ Pro members access to BizEquity's proprietary business valuation solution.

Original Article found: http://www.prnewswire.com/news-releases/bizequity-partners-with-wall-street-journal-pro-to-deliver-new-business-valuation-tool-642734493.html

Monday, May 22, 2017

BIZEQUITY AND EQUIFAX EXPAND THEIR STRATEGIC RELATIONSHIP WITH THE LAUNCH OF THE BIZESTIMATE SCORE

BizEquity, the world's leading online provider of business valuation big data, today announced a strategic relationship with Equifax Inc. (EFX), a global information solutions provider, to offer a new business valuation tool to help financial professionals prospect more effectively and small business owners better understand their business worth.

As part of the expanded agreement, Equifax will offer the BizEquity - BizEstimate™ business valuation estimation as a core attribute in their market-leading Equifax Marketing Data Services (MDS) file. The Equifax MDS file is comprised of over 33 million domestic businesses containing over 500 data attributes. BizEquity the global leader in business valuation data has scored every domestic private business in the Equifax MDS file based on up to 143 business valuation attributes.

The new BizEstimate™ score will help provide customers with:

Understanding the capacity of opportunities for financial and other credit products with business owners
Provide another measure of risk and credit performance
Determine additional lending opportunities
Determine additional insurance and wealth management opportunities
Better align their services to the entrepreneurs' needs

"Our MDS file has helped hundreds of financial and commercial institutions better market their product and services to business leaders and owners," said Scott Wagner, senior vice president and general manager of commercial marketing data services at Equifax. "The addition of the BizEstimate model and attribute will help the clients we serve by providing a forward indicator of risk and revenue opportunities."

"BizEquity is proud to expand our relationship with Equifax by delivering to the market this new leading indicator to the clients they serve," stated Michael M. Carter, founder and chief executive officer of BizEquity. "Understanding the potential estimated business net worth and value will change the way business owners and entrepreneurs are treated and served, by aligning their opportunities to the risk of the financial institutions that serve them."

For more information, please visit: http://www.bizequity.com

Original article found at: http://www.prnewswire.com/news-releases/bizequity-and-equifax-expand-their-strategic-relationship-with-the-launch-of-the-bizestimate-score-623611673.html

Thursday, May 4, 2017

MIKE CARTER OF BIZEQUITY NAMED EY FINALIST FOR ENTREPRENEUR OF THE YEAR

EY announced the finalists for the Entrepreneur Of The Year 2017 Award in the Greater Philadelphia region. The awards program recognizes entrepreneurs who are excelling in areas such as innovation, financial performance and personal commitment to their businesses and communities. Among those on the list was Michael Carter of BizEquity.

BizEquity, headquartered in Wayne, Pennsylvania, is the world’s largest provider of business valuations, helping business owners know that they are worth. They have created the first patented online service, which helps over 200 million global business around the world.

The award winner will be announced at a special gala on June 7^th, 2017 at the Kimmel Center for Performing Arts, Perelman Theater, in Philadelphia.

Thursday, March 30, 2017

BizEquity Announces Launch of 'Bring Your Own Data,' BYOD™ at DataDisrupt Conference

BizEquity announced the introduction of their BYOD™, Bring Your Own Data, integration service that allows financial institutions to add their own proprietary data to the existing BizEquity prospecting service. The online service will provide bankers, advisors, and agents the ability to input their own data to compare it to the BizEquity data of 33.1 million businesses in North America alone.

By announcing this new cloud services enabled API integration, BizEquity is showing leading financial institutions how bankers, merchants, agents, and advisors can harness the power of big data in their everyday lives.

Ariel Boyman, Co-Founder of DataDisrupt commented:

"Having leaders in the big data space, like BizEquity, announce new products and innovations today at our inaugural DataDisrupt conference shows the power of what we are doing. The market is starved for solutions to better serve clients and prospects."

Michael M. Carter, Founder / CEO commented:

"B.Y.O.D. is another step in our roadmap to fulfill our mission of democratizing small business data and insight for entrepreneurs and advisors. Now there is no excuse for every financial services firm not to be armed with big data insights and to provide small business owners greater insight into their potential."

Amir Tahvildaran, Vice President of engineering of BizEquity commented:

"B.Y.O.D. is a new way to think about data and to interface it to a prospecting application that can make it easier to visualize, consume, and act on key insights in the areas of lending, underwriting, and estate planning."

To find out more about BizEquity and B.Y.O.D. visit us at

http://www.BYOD.BizEquity.com

BizEquity will be demonstrating the new service at the DataDisrupt Conference, March 29^th - 30^th

Original story found at: http://www.prnewswire.com/news-releases/bizequity-announces-launch-of-bring-your-own-data-byod-at-datadisrupt-conference-617433923.html

Friday, March 10, 2017

BizEquity CTO Semyon Fishman Wins SmartCEO's 2017 Executive Management CTO Award

PHILADELPHIA and NEW YORK, January 19, 2017 /PRNewswire/ --

BizEquity, the world's leading and largest provider of cloud-based business valuation and performance Big Data, is thrilled to announce that Semyon Fishman, Chief Technology Officer of BizEquity, has won SmartCEO's '2017 Executive Management Award.'

The Executive Management Awards honor C-suite executives who have gone above and beyond to support and lead their organizations. SmartCEO recognizes executives who uphold the highest ethics, lead collaboratively and creatively, and enhance and support the organization's mission. An independent committee of local business leaders reviews the EMA nominations, and winners are chosen based on the quality of the nominations submitted. EMA winners are profiled in the March/April issue of SmartCEO magazine and celebrated at an awards reception in March.

As a founding member of BizEquity, Semyon is responsible for engineering the company's real time valuation engine and leading the client and server side development of the product. He has also worked on a number of products, including user interfaces, server technologies, data analysis, system integration and academic research.

Semyon Fishman, CTO of BizEquity, commented:

"I am thrilled to receive this award from SmartCEO. I feel it highlights our company's role as an industry leader, but is also recognition for our amazing team of engineers. I am lucky to work with such an intelligent and hardworking group, and I would not have received this award without their dedication to their work."

Michael M. Carter, CEO of BizEquity, commented:

"Semyon has been the architect of our technology strategy since the beginning. He is a trusted partner, and leads his team by example. We are extremely lucky to have him and are proud that his work and contribution have been recognized by winning this Executive Management Award. He has helped to make us one of the global leaders in Big Data technologies and the insight they deliver in the FinTech market."

http://www.BizEquity.com

Original article found at: PR Wire