Lon Gibby seeks funds for growth
Production house also mulls idea of going public through an acquisitionApril 6th, 2000
Lon Gibby Productions Inc., a 17-year-old Spokane video production company, says its working to secure additional capital to take advantage of potential growth opportunities in the Internet world.
Company President Lon Gibby says Gibby Productions is working with an East Coast investment brokerage to help the Spokane production house secure funding from a limited number of private investors. Next, Gibby says, the company hopes to acquire a public company, which would enable it to go public, then raise additional funds through public offerings. He declines for now to elaborate on those plans.
Gibby says the Spokane company would like to become a public company because, Internet technology is moving so rapidly, and we feel like we have to move quickly and move our services to the next level. He claims that products Gibby Productions has been developing have piqued the interest of several larger companies, and because of the potential for greater sales, the Spokane company is anxious to broaden its marketing efforts.
During the last several years, Gibby Productions, which has been known for the corporate marketing and training videos it produces, has been working to develop and enhance specialized software that runs interactive video on personal computers.
Additionally, the company makes compact disc business cards that can store up to four minutes of full-motion video on them. Those CDs include a portal to the Internet.
Gibby Productions, which currently employs 10 people, up from six last June, also has developed a way to compress video and transmit it over the Internet.
During the last several months, Gibby Productions has been developing a broadcast center at its offices, at 113 E. Magnesium. Gibby says that the company recently installed fiber-optic cable there, giving it a 100-megabit Ethernet connection so that it can broadcast on-demand video and streaming video over the Internet.