IPO provides TMP chief with more fuel for growth

Hodges, Jane
January 1997
Advertising Age;1/6/1997, Vol. 68 Issue 1, p29
Trade Publication
The article reveals the plans of TMP Worldwide President and Chairman Andy McKelvey on an aggressive growth strategy in 1997. In a market where only 15 percent of the $10 billion Yellow Pages' advertising segment is handled through agencies, New York-based TMP claims in its prospectus responsibility for 30 percent of the Yellow Pages business handled by agencies in the U.S. based on gross billings, with its closest competitor handling only about 10 percent of that market. Its December 1996 initial public offering comes on the heels of four years of aggressive acquisitions and investment in 34 different properties, a strategy TMP will continue during 1997, according to its prospectus. While Yellow Pages business has been the company's mainstay, recruitment is swiftly becoming another major sector for the company. TMP also plans to further develop the breadth and brand strength of its Internet-based products for both recruitment and Yellow Pages clients.


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