Santa Barbara Entrepreneur Launches High-Tech Holding Company Estalea
Jul 19, 2004Santa Barbara entrepreneur Per Pettersen today announced the launch of Estalea, a high-tech holding company that will develop and operate a network of online businesses. Backed by an experienced team, Estalea plans to launch three start-ups before the end of the year and will provide ongoing support for those companies from its Santa Barbara headquarters.
Pettersen, co-founder of Commission Junction, a ValueClick, Inc. company (Nasdaq: VCLK), has become a fixture in the growing Central Coast technology scene, having received his masters in computer engineering from UC Santa Barbara and participated in the development of several successful high-tech companies in the region since that time. Pettersen will serve as Estalea's chief executive officer, directing a core staff that is estimated to grow to 12 within the year. Roger Kjensrud, also a UCSB alumnus and former engineering director of Commission Junction, is the co-founder of Estalea and will serve as chief technology officer.
Estalea will focus its efforts on the burgeoning online business-to-business and business-to-consumer markets, for which analysts have continued to raise their revenue projections. Forrester Research predicts B2B e-commerce activity will grow to $7.3 trillion in 2004 compared to $131 billion in 1999. After posting a 51 percent year-over-year increase in 2003, retail sales will also continue to the same growth trend in 2004, reaching $144 billion in 2004, according to a new report from Shop.org and Forrester Research.
"The online B2B and B2C markets are still largely untapped, and advances in technology enable smart entrepreneurs to launch new business very quickly and cost-effectively," Pettersen said. "Estalea will fill a large void in this sector by developing not just new technology but high-quality organizations that will be able to sustain market fluctuations. And because of the efficiency of our development processes, the companies will be able to consistently deliver products at much lower costs than competitors, giving us a significant advantage."
Estalea has built an initial team with extensive experience in developing and managing ASPs and will be expanding the company further with additional employees and technology partners. The company is also reviewing early stage funding options, looking for the right individuals and businesses to participate in fulfilling its mission.
Estalea is an entrepreneurial company whose mission is to create and operate a network of successful online businesses. Estalea uses a systematic and cost-effective process for building, launching and operating companies based on proven market opportunities. Estalea provides its operating companies with best practices, a highly synergistic sister company network, operational support and strategic guidance. Today, Estalea is focused on creating a network of online companies with a medium investment risk profile that enjoy high margins and show significant potential for sustainable, profitable growth. Visit Estalea on the web at http://www.estalea.com.