Brightspark 3.0

Brightspark 3.0

September 16, 2008 08:30 ET

Brightspark Reacts Quickly to Changes in Canadian VC Industry With First New Business Launch

Collectionbuddy First Internet Business to Make its Debut as a Brightspark 3.0 Company

TORONTO, ONTARIO--(Marketwire - Sept. 16, 2008) - Brightspark today unveiled Collectionbuddy, the first business created by Brightspark 3.0 Inc. Collectionbuddy is a social network that enables collectors to capture, catalog and share their collectibles; interact with other enthusiasts; and discover new collectibles to acquire.

Brightspark 3.0's business model is to create and run Internet businesses. Launched in 2007, Brightspark 3.0 is a departure from the traditional Venture Capital (VC) model traditionally embraced by Brightspark for investing its funds. Instead of providing funding for early stage businesses, Brightspark 3.0 is a private corporation that focuses on setting up and running new Internet businesses, including those that leverage Web 2.0 technologies and enable social networking.

"Brightspark remains very focused on early stage Internet and software companies," said Tony Davis, Co-CEO of Brightspark 3.0. "However, we are convinced that the best way to create significant value for our shareholders is for us to return to our serial-entrepreneur roots by starting and running new Internet businesses like Collectionbuddy. It's exciting to see the launch of our first Brightspark 3.0 business."

Brightspark's executive team has over 25 years of investment, management and technology expertise in creating and operating software companies in the areas of application and infrastructure software, enterprise software and communications software.

"The Venture Capital industry in Canada is going through major changes at every level and at almost every VC Firm," said Mark Skapinker, Co-CEO of Brightspark 3.0. "We believe that this change comes from both the nature of opportunities as well as the investing climate in Canada. We launched Brightspark 3.0 last year ahead of the curve to capitalize on these fundamental, long lasting changes."

"Collectionbuddy leverages the power of social networking and capitalizes on a critical mass sized market. It is a great example of the types of new businesses we are focused on creating," said Sophie Forest, Co-CEO of Brightspark 3.0.

Collectionbuddy was created to become the world's largest interactive, searchable and user-generated catalog of collectibles ever assembled; and at the same time serve as a gathering place to showcase collections and facilitate socialization between collectors. It also offers an alternative marketplace from online auction sites since researching, trading, buying and selling items can occur naturally between collectors.

According to Tony Davis, "Collectionbuddy was created using a flexible, dynamic development environment backed by an incredibly talented team. Our plan is to replicate this model to establish multiple Internet businesses economically and efficiently."

Collectionbuddy embraces a unique architecture that combines the best of object classification, search, social networking and Wiki technologies.

Concurrent with running Brightspark 3.0, Brightspark continues to operate Brightspark Ventures, where it is focused on building and financing its VC-based portfolio companies.

About Brightspark 3.0

Launched in 2007, Brightspark 3.0 Inc. is a private corporation that focuses on software development and building next generation Internet businesses. Brightspark 3.0 is made up of two principal divisions: Brightspark Studios, its consulting and software development arm; and its subsidiary Internet businesses.

About Brightspark

Brightspark was founded in 1999 and works closely with entrepreneurs to develop and build market-leading software and Internet companies. Its key divisions include Brightspark Ventures and Brightspark 3.0. Brightspark Ventures is backed by leading institutional investors and has established itself as Canada's leading early-stage software venture capital fund. Brightspark 3.0 Inc. is a private corporation that focuses on software development and building next generation Internet businesses. Brightspark has offices in Toronto and Montreal, Canada. For more information, visit www.brightspark.com.

About Collectionbuddy

Collectionbuddy (www.collectionbuddy.com) is a social network and online resource for the world's greatest collections. It brings together global communities of professional, amateur and aspiring collectors who want to capture, catalog and share their treasured collectibles; interact with other enthusiasts with the same interests; and discover new items to collect. Collectionbuddy is a Brightspark 3.0 company.

Note to Editors:

- View the Collectionbuddy social media news release at: http://www.collectionbuddy.com/news

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