The following are excerpts from a letter sent to CenTradeX stakeholders and associates regarding the closure of CenTradeX and the launching of WorldTradeDaily.com.
The Global financial meltdown of late 2008, wreaked havoc in many industries and was particularly acute within the International Trade arena. Prior to this devastating economic earthquake, CenTradeX was poised to experience skyrocketing growth via a promised capital infusion from a prestigious Venture Capital group. In the wake of this severe financial crisis, CenTradeX, Inc. saw a dramatic decline in sales with corresponding operational difficulties which ultimately resulted in an acquisition of its innovative trade applications, clients and virtually all core technology personnel by UBM Global Trade/PIERS in May, 2010
Notwithstanding, many core technological assets were retained such as:
- The A.I. (Artificial Intelligence) Engine which normalizes and “magically” integrates many disparate sources of trade related data.
- The vast data repositories containing decades of statistical, company, product information as well as the daily import waterborne manifests from U.S. customs and 5 years of transactional import & export data from China.
- The UBM deal also allowed for redistribution rights to 12 licenses of each of the three primary applications acquired from CenTradeX by PIERS; namely Prospects, StatsPlus and Dashboards to July, 2015.
I’ve always had more of a bent toward innovation, application development, education and philanthropy. Those who know me well know that I’m a person driven by passion, vision and mission, not just money and business as a review of my bank statements can attest. The sale of CenTradeX allows me to focus my energies within the non-profit, educational sector, where my heart is.
My intention is to leverage the retained core assets mentioned (and into which over $1,000,000 has been invested over the last 10 years) along with my personal expertise, knowledge and passion for world trade to develop an interactive virtual community of trade data users, suppliers, educators, consultants and data-philes @ WorldTradeDaily.com.
WorldTradeDaily.com (WTD) will focus on issues relating to World Trade Data, information technologies and business applications. As a non-commercial forum, WTD will provide a forum for non-bias feedback on new products and applications. It will encourage a free exchange of ideas, facilitate connection, provide information and direction, and enhance the World Trade Community.
Another aspect of the vision is to provide free open source access to our vast data repositories and advanced technologies. We also intend to facilitate continued development, innovation and expansion of these available assets. This provocative approach is certain to cause quite a stir within the commercial sector!
As you know, providing free access really isn’t “free”. At this point, the data is already a year or two out-of-date. Ongoing data acquisition and handling, web site hosting and hardware /software maintenance will run $100k+ out-of-pocket per year. Also, not being independently wealthy, I need to develop an income stream to provide for me and mine. So, I am looking to garner sponsors/advertisers/underwriters to help support WorldTradeDaily.com, both via in-kind contributions, or cash, or both.
We believe that the combination of open source free access to valuable databases and technologies, interesting daily publications by credible authors in the field, the unique needed focus of the forum, as well as social marketing could over time make WorldTradeDaily.com not only popular but vital.
A longer article with (almost) no pictures. Not typical. Notwithstanding, I thought it apropos to restate publicly my original vision and intent, at this, the close of the first year of publication.