CornerWorld

CornerWorld was a United States-based corporate brand and publicly traded holding company associated with direct marketing, telecommunications, and technology businesses. It was founded in 2003 as a social-networking service designed to let users generate revenue from photographs, music, and video uploaded to the platform. The service developed from an original product called Cornerband into a broader community and business-management environment. Its features included email, live chat, interactive classified advertising, and invitations, positioning the service as a combination of social networking, user-generated media, and online commercial tools. The company changed its name to CornerWorld Corporation in May 2007. In August 2007, it became publicly traded through a share-exchange transaction with Olympic Weddings International, Inc., a tour company associated with wedding packages in cities that had hosted the Olympic Games. The transaction marked a shift from a privately developed online service toward a public-company structure. During the same period, CornerWorld pursued arrangements intended to expand its media and marketing reach. In September 2007, it entered into a distribution agreement with Napster to increase exposure for musicians using the CornerWorld platform. CornerWorld later moved away from operating its original social network. It attempted to acquire Sway, Inc., a social-media marketing company, but the proposed transaction was cancelled in May 2008 because CornerWorld could not meet the financial terms. In September 2008, it acquired Leadstream, LLC, a technology-oriented direct-response marketing company founded by Marc Pickren. Leadstream was combined with Enversa and operated under the Enversa Companies, LLC name. A more substantial expansion into communications and technology followed with the acquisition of Woodland Holdings, Ltd., completed on February 23, 2009. The transaction brought together a group of businesses and assets that included Woodland Wireless Solutions, West Michigan Colocation Services, T2TV, Wireless Solutions, Visitatel, and T2 Communications. It also included the 611 Roaming Service patent. According to the company description, that technology generated revenue by processing more than 14 million calls from roaming wireless customers annually and transferring those calls to their service providers. In April 2009, following the acquisitions of Enversa Companies and Woodland Holdings, CornerWorld removed its social-networking service from the CornerWorld.com domain. The domain was subsequently used as the company's corporate website, reflecting the discontinuation or withdrawal of the original consumer-facing platform and the company's reorientation toward acquired operating assets. The available reference material identifies CornerWorld's headquarters as Dallas, Texas, with additional offices in Holland, Michigan, and New York, New York. It also identifies Scott Beck as chairman, Marc Blumberg as a director, and Kelly Larabee Morlan as treasurer and secretary. Public information in the supplied sources does not establish the company's current operating status, present ownership, website, or continuing stock-market status.

CornerWorld began in 2003 as a social-networking service built around Cornerband, an earlier product. Its initial concept combined user-generated media with an incentive model in which members could earn revenue from photographs, music, and videos posted to the site. The service expanded into a broader online community offering email, live chat, interactive classified advertisements, invitations, and business-management functions. In May 2007, the company adopted the corporate name CornerWorld Corporation. It entered the public markets in August 2007 through a share-exchange agreement with Olympic Weddings International, Inc. The transaction gave CornerWorld a public-company structure while it continued developing its online media and community business. In September 2007, a distribution agreement with Napster was intended to provide musicians on the platform with greater exposure. The company subsequently changed direction. A proposed acquisition of Sway, Inc., a social-media marketing business, was abandoned in May 2008 because CornerWorld was unable to satisfy the financial terms of the arrangement. In September 2008, CornerWorld acquired Leadstream, LLC, a technology-focused direct-response marketing company founded by Marc Pickren. Leadstream was merged with Enversa and thereafter operated under the Enversa Companies, LLC name. On February 23, 2009, CornerWorld completed the acquisition of Woodland Holdings, Ltd. The acquired group included Woodland Wireless Solutions, West Michigan Colocation Services, T2TV, Wireless Solutions, Visitatel, and T2 Communications. The deal also transferred the 611 Roaming Service patent, described as a technology that processed roaming-wireless calls and routed them to the appropriate service provider. The company stated that the service handled more than 14 million roaming calls per year. Following the Enversa and Woodland transactions, CornerWorld removed its social-networking service from CornerWorld.com in April 2009. The domain was repurposed as a corporate website, signaling the retreat from the original consumer social-networking proposition and the company's emphasis on acquired marketing, telecommunications, and technology assets. The supplied reference material places the headquarters in Dallas, Texas, with offices in Holland, Michigan, and New York, New York. It names Scott Beck as chairman, Marc Blumberg as a director, and Kelly Larabee Morlan as treasurer and secretary. The company also announced in March 2011 that it had completed a settlement agreement with Ned Timmer, a former Woodland Holdings owner and CornerWorld board member. The available sources do not provide reliable information about CornerWorld's current activities, ownership, website, or whether it remains actively traded.

• 2011

  Settlement agreement completed

  [1]CornerWorlden.wikipedia.org

  The company announces completion of a settlement with Ned Timmer, a former Woodland Holdings owner and CornerWorld board member.

• 2009

  Woodland Holdings acquisition

  [1]CornerWorlden.wikipedia.org

  CornerWorld completes the purchase of Woodland Holdings and obtains its communications businesses and the 611 Roaming Service patent.

• 2009

  Social-networking service removed

  [1]CornerWorlden.wikipedia.org

  CornerWorld removes its social network from CornerWorld.com and reuses the domain for corporate purposes.

• 2008

  Sway acquisition cancelled

  [1]CornerWorlden.wikipedia.org

  The proposed acquisition of Sway, Inc. ends after CornerWorld cannot meet the deal's financial terms.

• 2008

  Leadstream acquisition

  [1]CornerWorlden.wikipedia.org

  CornerWorld acquires Leadstream, which is combined with Enversa and operated as Enversa Companies, LLC.

• 2007

  Corporate name changes to CornerWorld Corporation

  [1]CornerWorlden.wikipedia.org

  The business formally changes its name in May 2007.

• 2007

  Becomes publicly traded

  [1]CornerWorlden.wikipedia.org

  CornerWorld enters the public market through a share exchange with Olympic Weddings International in August 2007.

• 2007

  Napster distribution agreement

  [1]CornerWorlden.wikipedia.org

  CornerWorld enters a distribution arrangement with Napster to promote musicians on its platform.

• 2003

  CornerWorld is founded as a social network

  [1]CornerWorlden.wikipedia.org

  CornerWorld launches as a social-networking service derived from Cornerband, offering revenue opportunities tied to user-posted photos, music, and videos.

CornerWorld was positioned first as a revenue-sharing social-media and user-generated-content platform, then as a diversified public holding company assembled around direct marketing, telecommunications, wireless communications, and technology assets.

• Social networking and user-generated media · 2003

  CornerWorld social-networking platform

  CornerWorld's original consumer-facing service allowed users to connect, communicate, and publish photographs, music, and videos. The platform incorporated revenue-sharing features and expanded from the Cornerband concept into email, live chat, interactive classified advertisements, invitations, and business-management tools. The service was removed from the CornerWorld.com domain in 2009.

• Telecommunications technology

  611 Roaming Service

  The 611 Roaming Service was associated with a patent acquired through Woodland Holdings. It was described as processing calls from roaming wireless customers and transferring them to the appropriate service provider. The company stated that the service processed more than 14 million calls annually, although no current operating information is provided in the reference material.

• Direct-response marketing

  Enversa Companies

  Enversa Companies represented CornerWorld's direct-response marketing operations after Leadstream was acquired and combined with Enversa. The business was described as technology-oriented and focused on direct marketing services.

• Telecommunications and technology services

  Woodland telecommunications and technology businesses

  The Woodland Holdings transaction added a group of operating businesses and assets, including wireless solutions, colocation, communications, television, and visitation-related services. Named entities included Woodland Wireless Solutions, West Michigan Colocation Services, T2TV, Wireless Solutions, Visitatel, and T2 Communications.

• 2007Napster distribution arrangement

  United States

  CornerWorld worked with Napster through a distribution agreement intended to broaden exposure for musicians using CornerWorld's platform.

  Outcome. The supplied source confirms the agreement but does not provide performance results or its duration.

  Source

• 2011

  Completion of Timmer settlementOther

  Background

  A dispute involved Ned Timmer, the former owner of Woodland Holdings and a CornerWorld board member.

  Action taken

  CornerWorld announced that it had completed the terms of a settlement agreement with Timmer.

  Aftermath

  The supplied reference confirms completion of the settlement but does not disclose its financial terms or broader consequences.

  Source

• 2009

  Acquisition of Woodland HoldingsM&A

  Background

  CornerWorld sought to add telecommunications, wireless, colocation, and related technology assets to its portfolio.

  Action taken

  The company completed the acquisition of Woodland Holdings, Ltd., including several operating businesses and the 611 Roaming Service patent.

  Aftermath

  The transaction materially changed the company's asset mix and supported its description as a holding company focused on direct marketing, telecommunications, and technology.

  Source

• 2009

  Retirement of the consumer social-networking websiteStrategy

  Background

  After the Enversa and Woodland acquisitions, CornerWorld's business emphasis had moved toward acquired operating assets.

  Action taken

  CornerWorld removed its social network from CornerWorld.com and repurposed the domain as a corporate website.

  Aftermath

  The move marked the practical withdrawal of the original social-networking service from the company's principal web domain.

  Source

• 2008

  Cancellation of proposed Sway acquisitionM&A

  Background

  CornerWorld sought to acquire Sway, Inc., a social-media marketing company.

  Action taken

  The proposed transaction was cancelled in May 2008 because CornerWorld could not meet the financial terms of the arrangement.

  Aftermath

  The acquisition did not proceed; the supplied source gives no further details about Sway's subsequent ownership or operations.

  Source

• 2008

  Acquisition of Leadstream and combination with EnversaM&A

  Background

  CornerWorld was broadening beyond social networking toward technology-enabled direct-response marketing.

  Action taken

  The company acquired Leadstream, LLC, then combined it with Enversa under the Enversa Companies, LLC name.

  Aftermath

  The transaction expanded CornerWorld's direct-marketing activities and contributed to the company's shift toward a holding-company model.

  Source

• 2007

  Conversion into a public companyStrategy

  Background

  CornerWorld was developing from an online social-networking service into a corporate business with broader commercial ambitions.

  Action taken

  The company completed a share-exchange transaction with Olympic Weddings International, Inc. and became publicly traded.

  Aftermath

  The transaction gave CornerWorld a public-company structure before its later expansion into marketing, telecommunications, and technology assets.

  Source

1. 1CornerWorlden.wikipedia.org