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THEDIGITEL RECEIVES INVESTMENT CAPITAL FROM PALMETTO INVESTMENTS & EXCHANGE GROUP
Tapping into growth and new media markets on the horizon
10.22.2009 – Charleston, SC – TheDigitel, a “hyper-local” news resource for the Charleston community (www.thedigitel.com), has received and investment from Palmetto Investments & Exchange Group, the Charleston-based investment firm. The funds will enable TheDigitel to expand to other regional media markets, while continuing to grow readership in the existing Charleston market.
Kenneth Hawkins, Senior Editor and company founder, describes TheDigitel as “a means of providing media producers – whether individuals, large media outlets, or something in between – with traffic from a broader audience. We serve as a concierge, connecting people to the best and most relevant in local coverage while offering the community an opportunity to tell their own stories.”
Currently, TheDigitel supports local broadcast stations and many local print publications, and members from the community are able to interact and comment on pieces or pursue their own articles. The platform encourages ‘web citizens’ to participate in citizen journalism that becomes dynamic, real-time news available at the click of a mouse.
TheDigitel provides an additional outlet for those seeking a new home for their story or a new audience, while offering journalists an alternative to breaking stories outside of news tip lines.
“TheDigitel finds balance between the Internet and the newspaper. Only through blending the unique strengths of both the Web and traditional journalism will any news outlet thrive online,” said Hawkins.
Palmetto Investments & Exchange Group has identified TheDigitel as a viable growth opportunity in other regional media markets. “There is a new journalistic voice and vision in town and it’s called TheDigitel,” said Palmetto Partner Matthew Johnson. “TheDigitel’s deep focus on the community and conversational style is challenging the status quo in journalism today.”
About TheDigitel
Launched in June 2008, TheDigitel acts as concierge connecting readers to the best in community coverage and offers an opportunity for the community to take control of its coverage. Capturing the web-savvy spirit, TheDigitel encourages participation in online discussion, reader contribution, and recognition of local businesses and organizations that enhance the Charleston community. TheDigitel seeks to bring a more democratic process to the institution key for democracy.
For more information, please visit http://www.thedigitel.com.
About Palmetto Investments & Exchange Group, LLP
Palmetto Investments & Exchange Group, LLP (“Palmetto”) is a private investment group based in Charleston, South Carolina. Palmetto makes long-term investments in select public companies and in seed and early-stage private companies with tremendous growth potential. Palmetto looks for innovative companies that have the ability to become market leaders in the global economy. Palmetto was founded in 2006 and is capitalized solely by equity from a small group of dedicated investors.
For more information about Palmetto Investments & Exchange Group, please visit http://www.palmettoinvestments.com.
For Press Inquiries:
Christina Lor
Ergonomix Public Relations
843-606-0265
christina@ergonomixpr.com