The Company Formerly Known as Cad.Lab Invites You to Re-Name Company
for
$50,000; Web-Based Promotion Invites Web "Surfers" Worldwide to Submit
Proposals to Set New Corporate Image & Brand
(Business Wire; 09/14/98)
SANTA CLARA, CALIF. (Sept. 14) BUSINESS WIRE -Sept. 14, 1998--In a unique
move to launch itself into the global market for design software, The
Company Formerly Known as Cad.Lab (TCFKAC), an upstart mechanical computer
aided design (MCAD) software company, today announced an innovative
campaign to re-name itself.
The company is inviting web "surfers" world wide to submit proposals for a
new name for the company to its web site (www.cadlab.com) from September 14
through October 31. The entrant submitting the best proposal for the most
creative and appropriate name for the company will be awarded $50,000, in
one of the world wide web's largest promotions ever.
Since naming new Chairman and Managing Director Joe Costello to run the
company, TCFKAC has charted a new strategy and direction in the market
place. The moniker will be reflective of a corporate image and brand more
suited to its new position in the market place.
The web-based program is open to all comers and the web site will be
updated regularly over the next six weeks to give participants highlights
and suggestions. The name will be chosen by a committee of TCFKAC
executives, with the winning proposal announced on January 4 following
appropriate legal reviews of the final selection.
"What better way to show our customers that they're the ones who really run
the company than to let them name us?" said Costello. "And if it turns out
that it's their kids, their grandmother, their uncle or their mother-in-law
that comes up with the name, that's even better!
"The whole idea is to demonstrate to the mechanical design world that we're
creating the future with them, and getting them involved in the naming of
the company is symbolic of that. Of course, we're also looking to bring
some fun and excitement to the process -- and to the industry. We believe
we're the spark of a massive revolution about to happen in MCAD software, a
revolution that will be inspired by, and ultimately will benefit, MCAD
users."
Cad.Lab, founded in Italy 20 years ago and the leader in that market, has
targeted a growing gap in the MCAD market for its robust 3D design product.
Offering the functionality of higher-priced products from companies like
Parametric Technology Corporation (PMTC) and Structural Dynamics Research
Corp. (SDRC), but at a price more comparable to traditional low-end 2D
systems from companies like Autodesk Inc. (ADSK), the company is addressing
the needs of a large group of designers wanting to use 3D design, but who
couldn't afford it. TCFKAC Strategy
The company has a three-pronged strategy that centers around the technology
itself; its accessibility to the largest number of users; and the
educational experience necessary to help transition designers from 2D
design to 3D.
The technology strategy revolves around the most robust Window-based 3D
design system on the market, Eureka Gold. Based on the company's own
proprietary software kernel and benefiting from nearly 20 years of
development in the firm's birthplace, the Italian design market, the
product delivers functionality typically reserved for systems priced much
higher and available only on expensive workstations.
The 1998 release of the product, scheduled for Q4 98, will offer enhanced
ease- of-use features and more powerful modeling capabilities.
"Eureka Gold was architected with the most high-end user requirements in
mind," said Costello. "The challenge was to make those capabilities
available to the mainstream without compromising the power of the product.
And we have succeeded."
In terms of accessibility, the company is developing a revamped pricing and
distribution model that will set the entry price for Eureka Gold at about
$2,000 and establish a worldwide network of certified value-added resellers
selling and supporting the product.
In addition, TCFKAC is building the necessary technical bridges within the
software to link the 2D world to the 3D world for designers, focusing on
making it extremely easy and intuitive to move design work back and forth
between the two worlds.
Finally, TCFKAC is investing heavily in the user education and service
required to become productive quickly with 3D design. With the intent of
developing training approaches that dramatically shorten the time to
productivity, the company is assembling a renown team of experts to deliver
the best educational experience in the industry.
"Our objective is to make 3D available to everyone," said Costello. "And
that requires more than just a great product. We're taking a holistic
approach to making the 3D revolution happen." How You Can Get $50,000 for
Re-Naming the Company
Go to www.cadlab.com for details on how you can participate in TCFKAC's
"name the company" program. About The Company Formerly Known as Cad.Lab
TCFKAC combines leading-edge mechanical design technology with an
innovative sales and marketing approach to provide the industry's most
comprehensive solution for the mid-range market.
Based on a production-proven and state-of-the-art software architecture,
the company's Eureka Gold product line offers full-featured functionality
for 3D design at a significantly lower price point than comparable
"high-end" packages, all available as the industry's only exclusively
Windows NT-based offering.
The company is headquartered in Santa Clara, Calif., with engineering
centered in Bologna, Italy, and has an installed base of more than 10, 000
users. It is represented by a growing worldwide network of distributors and
VARs. For more information, visit the company web site at www.cadlab.com.
-0- aj/sf* ap/sf
CONTACT: Cad.Lab, Inc. Mike Sottak, 408/987-2200
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