One of radio’s most successful partner businesses is being sold. vCreative CEO Jinny Laderer has announced the company she founded with her husband John, is being purchased by Banyan Software, a company that acquires enterprise software businesses. Over 4,400 stations use vCreative’s cloud-based workflow software. The Laderers will stay on as CEO and CTO, respectively, and continue to manage vCreative’s day-to-day operations.
In a press release, Jinny Laderer said, “As the media industry continues to evolve and change, our clients have been asking for new and custom workflow solutions to address digital, TV, programmatic, podcasting, promotions, and other non-traditional opportunities. In order to deliver, John and I knew that we needed a stronger foundation with deeper resources in technology, strategy, and finance. With Banyan Software, we can accelerate the delivery of new products, integrations, and the efficiency models urgently needed for media companies to thrive in today’s changing market. Banyan provides vCreative a permanent home and the infrastructure needed to exceed our client’s expectations.”
The Laderers launched vCreative to the radio industry in 2007 after developing the software in 2005. For years, vCreative and the Laderers have been extremely visible at so many industry events, not only as a vendor showing the industry their products but with sponsorships as well. Following the announcement of the sale, we reached out to Jinny Laderer to ask her more about the sale.
Radio Ink: Jinny, you and your husband founded vCreative and it’s been a great success story. What brought you to this decision?
Jinny Laderer: As you know, John and I built this company from the ground up. We initially created the software to solve a problem in our own lives and ended up solving a problem that the entire radio industry shared. Today, over 4,400 stations use our software solutions for production and promotions. But with all the changes happening in our industry, users are now turning to us for custom solutions, automated workflows, and integrations to help them navigate through the complexities of selling digital, programmatic, podcasting, TV, events and much more. As we looked to the future and thought about how we could best help our clients thrive, we knew we needed a stronger foundation with deep resources in technology, strategy, and finance, yet we wanted the autonomy to continue to run the company. We looked at many different options and Banyan Software, Inc. was a perfect fit.
Radio Ink: Why Banyan?
Jinny Laderer: Banyan seeks out entrepreneurial software companies who want to grow their businesses but need the infrastructure found with larger companies. After vetting dozens of potential partners over the years, I came to see that there are major philosophical differences between private equity and my goals for future growth. Banyan’s model is truly unique in that their focus is on long-term success. David Berkal, the CEO of Banyan Software, is a successful entrepreneur and shares my same entrepreneurial spirit and passion for people and business. Over the past two years, I have gotten to know David and his team, and I have witnessed first-hand how they think and operate. David‘s style, philosophies, and leadership abilities are a perfect fit. It was not a quick or easy decision, but I am convinced that Banyan is the right home for our clients, our team, and our future.
Radio Ink: What does Banyan bring to vCreative?
Jinny Laderer: Unlike typical investment firms, private equity firms, or other acquirers, Banyan’s plan isn’t to resell vCreative but to provide a permanent home that will nurture the company’s staff, culture, and products for decades. They have deep knowledge across their management team, board, and investors, and will provide the perfect environment to accelerate the delivery of new products, integrations, and efficiency models. We have had great success, and it’s just beginning! With Banyan, we now have the expertise, resources, and a strong foundation to do even more for our clients.
Radio Ink: What does this mean for your clients?
Jinny Laderer: With Banyan, we will be investing heavily in next-generation technology, including an immediate expansion of the product and development teams. Over the next six months and beyond, we will be launching new products and integrations that will help our clients to maximize efficiency, productivity, and profits.
Radio Ink: What about you, John, and your team?
Jinny Laderer: Banyan has a great respect and trust in the existing leadership team and in our ability to operate the business. Our entire team will continue without change. I will remain in the CEO position. John will work as CTO providing direction and vision to the development team. Susie will oversee all operations as President/COO and Melissa will continue as our Vice President of Sales.
Radio Ink: Anything else you would like people to know?
Jinny Laderer: It’s well known how much I love our industry and how much I care about helping our clients succeed. This decision comes from that same caring place and was made in order to provide greater opportunity, stability, and growth for the future. We are excited about this next chapter and want to be sure that this excitement is felt by everyone. If anyone has questions, please reach out to me at [email protected] and please explore more about Banyan at http://banyansoftware.com.
