Bumper crop of young achievers bodes well for business diversity

Bumper crop of young achievers bodes well for business diversity

Publication: Business in Vancouver - Local Business Intelligence
Date: December 30, 2003

David MacLaren
President and CEO,
VRX Worldwide
Age: 32

Boundless energy, a belief in his products and the pragmatism to change his business plan when his firm was bleeding big bucks have guided David MacLaren to success with VRX Worldwide Inc.

VRX Worldwide is a debt-free, profitable firm with $1.3 million in sales and $100,000 in the bank – a far cry from its position in early 2002. Then the money-losing firm had a $500,000 debt, no cash and just $310,000 in annual revenues.

MacLaren credits it all to thinking outside the box and never accepting “It can't be done” as an answer.

His original strategy was to produce 360-degree photos and interactive maps of destinations and market them to travel agents who would license and use the content on their Web sites. Clearly that strategy was not working.

“The travel industry was demanding high-quality virtual tours of hotels,” MacLaren explained. “So we launched a whole new division that included hospitality content in addition to destination content.” MacLaren's firm changed marketing tactics, signing partnership contracts with Expedia.ca, Virgin Holidays and the Int'l Association of Convention and Visitor Bureaus.

“That increased our exposure so people would call us up and say, 'I know who you are,'” MacLaren said. “Expedia is now not only a partner, but our biggest sales channel.”

Other clients include the colossal Disney empire.

MacLaren predicts that his firm's growth will help it graduate from the TSX Venture Exchange to the TSX Exchange very soon.

That move will show how far the firm has come since MacLaren dreamed up its business plan and six days later landed $1.5 million in funding from TSX Venture mining firm Cambridge Ventures. VRX then went public through a reverse-takeover of Cambridge Ventures in early 2001.

Profession you would like to try: Being an entrepreneur is my passion and my ultimate profession.

Where do you feel most comfortable?At home.

Favorite movie: It's a toss up between the Matrix trilogy, The Lord of the Rings trilogy and Gladiator.

Currently reading: Built To Last by James Collins and Jerry Porras

Toughest decision:To lay people off in January 2001.

Car:2002 Hyundai Santafe

Would most like to meet: Barry Diller, chair and CEO of InterActiveCorp

Born: Prince George.