I am happy to announce that Drilling Info, Inc. will partner with a team of investors led by Insight Venture Partners, a New York based growth equity/venture capital firm, with the happy aside of providing a liquidity event for our very patient early investors.
Why do this? As some of you know, we are working on some really game-changing applications with even deeper data than we currently cover and to complete our vision of what a really great platform will look like. We had an opportunity to accelerate our efforts in order to provide our members a real and valuable differentiator versus their competitors during this time of change in our industry, and we took it. Think of it as offering Steve Jobs the resources to make better communications and computing devices rather than offering whiskey, handguns, and the keys to the car to a chimpanzee. OK, forget that analogy.
We aren’t changing management, we aren’t changing culture. Our new partners are as giddily enthused about our future endeavors as we are. We will still bring the same passion and fun to this industry that we always have. Drilling Info’s goal is and will always be to promote our customers ability to prosper in one of the most important and difficult industries in the world. The only thing that will change about us after this deal is the speed at which we can do this, and that is something that we could not be more excited about.
As always, please feel free to contact us with any questions or concerns you may have about this deal and how it will affect you as an extremely valued member of Drillinginfo. If you want me to come in and discuss the future plans that are making us so giddy, I, or better yet, our sales team, would love to sit down and talk with you!