September 27, 1999 — PiNGPoNG.CoM Picks Finalists In $30 Million Pitch
Los Angeles, CA — A new Internet company with backing from John Tu, owner and founder of computer hardware firm Kingston Technologies, is in the advanced stages of an estimated $30 million agency review. David Kwan, principal and director of strategic planning at Fountain Valley, Calif.-based PiNGPoNG.com, confirmed the review, but would not disclose the value of the account.” The kind of ad budget we’re looking at is significant, but I can’t confirm an actual number,” he said. PiNGPoNG.com will revolutionize how information is exchanged over the Internet, hence the lower case “i” and “o” in the company name, which denotes input and output, Kwan said, declining to give details.
agencyfinder.com assisted with the initial screening of respondents, but most elements of the search are being handled in-house, Kwan said. The review is in its final stages, having been narrowed to five or six West Coast agencies, sources said. A decision is expected this fall. “We prefer geographic proximity, but are primarily looking for the best agencies,” Kwan said. “We’re looking for a likeable team of flexible people who will work well with us. They have to see themselves as part of our organization.”
Expertise launching campaigns across a wide array of media is essential, as is strength in media planning and buying, Kwan said. One source said the company hopes to break a campaign before the end of the year. “We’ll do things rapidly, but not at a pace that will be impossible to achieve,” Kwan said. He declined to specify a launch date for the service. “We will present a company profile at some point in the future. Right now, let’s just say we’re doing some very exciting stuff that will turn the Web around,” Kwan said. Although Tu is a backer, Kingston Technology, which specializes in computer memory products, processor upgrades, storage subsystems and networking solutions, is not, Kwan said.