Penetrator and Dirlango to invest in Codido

Warsaw, November 29, 2007

Codido Sp. z o.o. has entered into an investment contract under which Dom Maklerski Penetrator and the Dirlango Trading & Investments fund have acquired a new issue of the company shares.

Codido specializes in the development of back-office database applications that support company operations.

"Codido is the first venture launched by the Apetonic advisory company. For the last two years we have done a considerable grassroots work through investing in the Codido technological platform, establishing the company structure, creating its marketing image and winning over customers. Today, Codido is in the phase of dynamic development and support of the new capital partners is extremely important to us. We see a lot of challenges in 2008, out of which the most critical are expansion abroad and delivery of systems in the Software as a Service (SaaS) model" – says Igor Bokun, President and CEO, Codido.

"We realize two types of projects within the Apetonic advisory company. Codido belongs to projects that are realized from scratch. We begin with a business concept and a vision and start developing a new dynamic firm. The other group of projects includes typical private equity investments.
We are very happy of the fact that within less than two years we managed to transform an idea written on a piece of paper into a dynamically developing company running its business also outside the territory of Poland. As every fund we realize our profits after we exit the investments, however, Codido's achievements to date fill me with optimism." – says Peter Frey, President, Apetonic.

The company plans to invest the raised funds in the development of marketing and sales as well as R&D of the new platform version – Codido Live. Codido offices are located in Warsaw and Bielsko-Biała. Until the end of 2007 the company plans to open another office in Bucharest, Romania.

Codido is a project financed by Apetonic. Apetonic is an advisory company focused on starting-up ventures operating in the high-tech sector. The company was established in 2006 based on experiences of four partners and backed up with successes in the fields of information technology, telecommunications, finance and business. Apetonic partners have in the past formed such companies as: netsprint.pl, esentia.pl, windtelecom.pl, windmobile.pl, eurokom.pl, plagiat.pl and had considerable contribution to operation of such ventures as www.merlin.pl, www.kdc.pl, www.granie.era.pl and many other. Since 2006 Apetonic has invested in the following projects: codido.com, sejmisja.pl, sejmofon.pl, sejmostat.pl, astatis.com.


More information: codido.com