Beckett Media LLC employed 260+ employees globally with primary offices in Faridabad, India, Cebu, Philippines, California, Texas, and New York with gross revenues in excess of $36 million. Company became insolvent in 2009 with ownership reverting the bank debtors. Tasked with turnaround and transformation of multiple retail products including 58 newsstand publications and the online ecommerce marketplace with over 260 million individual products. 2010 was estimated to lose $2.5 million in EBITDA without drastic changes.
President March 2010 – January 2012
• Increased EBITDA by nearly $4 million while writing off over $600K in AR dating back to 2002.
• Reduced vendor notes by $2 million in 2011, while shortening our average payable aging from 70 days to 50 days.
• Negotiated multiple settlements with vendors and partners that had filed lawsuits due to the companies insolvency.
• Rebuilt our online ecommerce/subscription website including 260 million products and grew online revenues by 244%, nearly tripling subscription revenue.
• Directly managed 31 Indian and US developers to implement advanced online marketing and social media strategies to triple our paid subscription user based.
• Implemented outbound call center with 70 telemarketers to increase subscription and product services sales through existing customer base.
• Reduced magazine product lines from 58 to 29, maintaining only our positive contribution lines.
• Implemented new online strategy for Motortopia.com and added 6 print publications online. Strategy is expected to generate in excess of $6 million new revenue over the next 3 years.
• Grew sales staff from approximately 15 to 50 and utilized telemarketing and online sales techniques to grow dealer channel revenue by 200%.