iNNERHOST
iNNERHOST, Inc. was formed in 1999 to provide shared and complex web hosting services to small and medium-sized businesses. The Company, based in Miami, FL, provides its services throughout the United States with a growing presence in Latin America. As a result of the August 31, 2002 acquisition of iNNERHOST (previous portfolio company) by Interland, Inc. for $17.6 million in cash and stock, Spire Capital acquired a significant equity holding in Interland. Interland, an Atlanta-based company, provides web-hosting services to small and medium-sized enterprises ("SMEs") concentrated in the United States. Interland's products and services include shared, dedicated, and clustered-hosting services, database services, domain name registration services, back-up storage, and other application hosting services. The Company has nearly 700 employees and its customer base includes approximately 210,000 shared hosting accounts and 7,500 dedicated hosting customers.
Interland was a venture backed web-hosting company that went public in the first half of 2000 and then participated in a reverse merger with the spun-off hosting division of Micron Electronics, HostPro, that closed in August 2001. The combined entity, which adopted the name Interland, has continued its growth through acquisition and organic means. Since the Company's reverse merger in 2001, Interland has announced/completed seven web-hosting acquisitions, including the acquisition of iNNERHOST in the fourth quarter of 2002. The management team is comprised of Joel Kocher, CEO, and Allen Shulman, CFO. Mr. Kocher previously served as the CEO of Micron Electronics and Mr. Shulman previously served as CFO and General Counsel at CheckFree Corporation.
Quick Facts
- Date of Initial Investment: 6/1/2000
- Status: Merged with Interland, Inc. in 2002. Spire Liquidated its Holdings during 2003.
- Type of investment: Fund I
- Headquarters: Miami, FL
- URL: N/A
