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CITYLYNX BECOMES WAVELYNX; Pioneering Online Content Developer Sells Key Property to AOL, Takes New Name
The company that pioneered the concept of local content for America Online, has sold a major local content property to AOL and taken a new name. CityLynx LC of Alexandria VA, developer of AOL’s CityLynx Main Street area, has changed its name to WaveLynx, LC. "We found ourselves in an interesting position..." said WaveLynx President, Billy Winburn. "We started out by developing the concept of city-based online content. But our company name ultimately became more closely associated with one of our products than with us as a company." he said, referring to the CityLynx Main Street area on America Online. "Besides, we realized that we had reached point where the name CityLynx no longer adequately described what we do." An opportunity to make the name change presented itself when America Online purchased the rights to CityLynx Main Street from CityLynx. "I think AOL also felt that the name CityLynx had become closely linked with the Main Street area within AOL’s Digital City." As a result, AOL offered to purchase the CityLynx name together with Main Street. "With the purchase, AOL took over the day-to-day operation of Main Street. So it was the right time for CityLynx to become WaveLynx." said Winburn.

Recent projects demonstrate the evolution of WaveLynx as a business. WaveLynx recently inked a deal to place CigarCafe, an online area dealing with the topic of cigars, on America Online. Due to debut on America Online in May of 1997, CigarCafe is a property jointly developed and owned by WaveLynx and Yikes! entertainment.

On behalf of another client, the Austin Grill, WaveLynx built a web site to take advantage of the SEC’s groundbreaking new rules allowing a company to sell up to $5 million per year of their own stock directly to individual purchasers over the Internet. Known as a Direct Purchase Offer, or DPO, the company selling their stock in this manner can avoid the steep fees typically imposed by venture capitalists and investment bankers. The DPO also gives small, individual investors the opportunity to participate in stock offerings that would typically be open only to large, institutional investors.

WaveLynx produced a DPO website for Austin Grill that met the rigorous SEC technical requirements for Internet stock offers. Very few other Internet studios have experience designing and producing web sites specifically for this revolutionary new application of the Internet. (It can be found at http://www.austingrill.com)

"We did get our start building locally-based content. But we’re much more than that now." Said WaveLynx President Winburn. "The name WaveLynx fits what we are becoming, not what we were."

WaveLynx is a full service internet studio dedicated to developing and managing succesful online properties that are focused on achieving specific business objectives. The company provides services to customers on a fee basis and also owns and operates revenue generating web sites and web-centric businesses. The company is located in Alexandria, VA (DC metro area) and employs approximately 20 professionals. Further information can be obtained by visiting the company's web site at www.wavelynx.com or contacting the company's president, Billy Winburn at 703.299.9700 / fax 703.299.9701.

 
 

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