Minneapolis convention bureau to sell struggling software company



By Erin Golden, Star Tribune

“Minneapolis’ convention bureau has found a buyer for the for-profit software company it developed with the help of $10 million in city loans.

Meet Minneapolis, the nonprofit group that handles the city’s convention and tourism efforts, launched Internet Destination Sales Systems a decade ago. The goal was to turn a profit by offering its convention booking and management software to other tourism bureaus, but the business got off to a slow start. After the city lent it $2.5 million to launch the company, Meet Minneapolis came back for more help — eventually borrowing a total of $10 million between 2004 and 2006.”

Read More…