A Global publishing and online marketplace, Ecountries.com, founded by two former directors of the Financial Times Group, has set up a business development and transaction base in Dublin.
The company, which was co-founded by Dubliner and former managing editor of FT.com, Mr Donal Smith, and American, Mr Jonathon Schmidt, provides upto-the-minute news and commentary for each country around the world.
The company sealed a deal this week with ABCNEWS.com, the 24-hour Internet operation of ABC news, to supply analysis of news events around the world, and a profile for each country, including key economic and development indicators.
As well as providing analysis of news which effects global business, Ecountries.com generates revenue by offering a marketplace of accredited suppliers - such as market research, translation, recruitment and professional services.
Formally launched earlier this week, Ecountries.com has already posted tenders worth more than $1 million (€1.13 million) on its online marketplace. These include a tender from an international computing company requesting legal representation in joint venture negotiations in Singapore and a US Internet media company requesting market research on Internet usage by women in China.
The company, which has established offices in Dublin, London and New York, has chosen to set up its transaction base in Dublin, employing 12 staff. This will process business transactions between firms averaging between $20,000 and $100,000, according to its chief executive, Mr Smith.
"As transaction volumes take off we will need to scale up rapidly to establish a foothold in the market," he said. "We chose to establish our transaction base in Dublin because of the skills base, awareness of the Internet and the help and support offered by Government bodies such as IDA Ireland."
The company has based its editorial centre in London and has appointed Mr Michael Elliot, former international editor with Newsweek International, as its editor-in-chief. It plans to establish an Asian centre in Hong Kong shortly.
Ecountries.com recently secured $7 million funding from a number of investors, which included the UK venture capital firm, 3i, and is currently raising second-round funding worth a similar amount.
The two founders hold stakes in excess of 20 per cent each in the company.
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