CHICAGO–(BUSINESS WIRE)–GigNet, a Digital Infrastructure company with an extensive regional fiber-optic network Cancun to Tulum, announced today the addition of Brian T. McCormack to its senior advisory board. Mr. McCormack is a Chicago-based investor, businessman, and philanthropist and founder of McCormack Capital, LLC, a leading investment firm.
Mr. McCormack was one of the earliest investors in Groupon (NASDAQ: GRPN) in 2008. This groundbreaking deal-of-the-day company now operates in over 35 countries, has more than 30 million subscribers in North America alone, and was the fastest growing $1 billion dollar company in history in 2011. McCormack Capital was an early investor in Echo Global Logistics (NASDAQ: ECHO), a company launched in 2005 with the goal to transform the transportation management sector across all major transportation modes, connecting shippers with carriers in a more efficient manner to move goods quicker, securely, and cost effectively.
McCormack Capital was also an early investor in startup incubator Light Bank, a company that specializes in making venture capital investments in “disruptive” technology companies in the U.S., including seed companies, using Light Bank’s multiple networks and vast expertise. In 2013, Mr. McCormack co-founded Cresco Labs and helped build the company into one of the largest vertically integrated multi-state cannabis operators in the United States. Cresco went public on the Canadian Stock Exchange in December 2018 and today has a market cap in excess of US$4 billion.
“Brian is a proven entrepreneur and investment professional with a track record of backing early-stage ventures that have went on to disrupt and transform major industry sectors as publicly-traded companies,” said Paul A. Moore, Chairman and CEO of GigNet. “His business acumen is a perfect match for GigNet at this time as we are in the process of leading the digital transformation of the hospitality sector in Mexico. We believe Brian’s past success in assisting companies to rapidly increase shareholder value through market innovation and efficiency will be highly valuable for GigNet as we enter a major new growth phase accelerating our market share in the Riviera Maya region and expanding to new markets in Mexico.”
Earlier in his career Mr. McCormack founded InnerWorkings (NASDAQ: INWK) in 2001, a marketing agency that provides branded merchandise, direct mail and print procurement solutions to retail and healthcare sectors. As Founder and Director, McCormack helped build the company into one of the largest printing firms in the world, with over $1 billion in sales and more than 1,800 employees in offices around the world.
Mr. McCormack’s philanthropic efforts include Maryville Academy, a child-care organization in suburban Chicago that is dedicated to the preservation of the dignity of children of every age, and the Noreen P. McCormack Foundation, which pledges $3 million annually to a variety of clauses including educational platforms for under privileged neighborhoods. McCormack is a board Member of the University of Notre Dame’s Irish American Board and a member of Notre Dame’s President Circle.
GigNet is the Mexican Caribbean brand of GigNet, Inc., a U.S. based international Digital Infrastructure company. Through its Mexico operating subsidiaries, GigNet, S.A. de C.V., and Sanalto Redes Peninsular, S.A.P.I. de C.V., the Company is a fully licensed telecommunications provider in Mexico. GigNet is actively adding customers to its extensive regional broadband network in the Mexican Caribbean, one of the largest and fastest growing tourism destinations in the world, with over 25 million annual airport visitors. GigNet is a leader in the digital transformation of the region.