Founded in 1999, Website Pros is a Jacksonville, Florida-based provider of Web services and products to the small and medium business (SMB) market. The company offers a full range of products on an affordable subscription basis, including design and hosting of the Website. WSPI's primary service offerings, eWorks! XL and SmartClicks, are comprehensive packages that include Website design and publishing, Internet marketing and advertising, search engine optimization, search engine submission, and lead generation. In addition to this offering, the company provides a variety of premium services to customers, such as e-commerce solutions and Internet marketing services. As of September 30, 2007, the company had approximately 255,000 subscribers, including 82,000 in its core Website Pros business, including eWorks! XL, SmartClicks, Leads.com, Renovation Experts, 1ShoppingCart, Submitawebsite and premium subscription-based services. WSPI primarily sells it services and products to customers identified through strategic relationships with brand name companies, such as Discover Financial Services, Network Solutions, IBM, and Card Services International. The company has a direct sales force, which utilizes leads provided through its strategic marketing partners. WSPI generates the bulk of its revenue from subscription fees (89.9% of 2006 revenue), licenses (6.9%), and professional services (3.2%). Geographically, the company sells its services to customers located in the United States.
The SMB market where WSPI competes is large and under-penetrated, with little organized competition. Management estimates that there are currently over 25 million SMBs with less than 100 employees, which it considers its target market. Of these, we believe a large number do not have a web presence at all. In addition to companies without a web presence, 30% of WSPI's sales are to companies that already have a Website, but are looking for professional help. According to studies conducted by IDC, Jupiter Research, and Forrester Research, the market for services provided by WSPI is expected to grow at a compound annual growth rate (CAGR) of 9.7% from $22.1 billion in 2006 to $32.0 billion in 2010. The largest of these markets is Online Display/Classified advertising, followed by Search Engine Marketing, then Website Services, and finally Email Marketing.(Read more at Wikinvest )