Ambassadors Group
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| Public | |
| Traded as | NASDAQ: EPAX |
| Industry | Educational travel |
| Founded | Spokane, Washington (1967) |
| Headquarters | Spokane, Washington |
| Revenue |  US$98.6 million (FY 2009) [1] |
| US$32.2 million (FY 2009)[1] |
|
| US$20.3 million (FY 2009)[1] |
|
| Total assets | US$128 million (FY 2009)[2] |
| Total equity | US$91.0 million (FY 2009)[2] |
| Subsidiaries | BookRags |
| Website | www.ambassadorsgroup.com |
Ambassadors Group, Inc. is a defunct publicly traded educational travel company based in Spokane, Washington.[3] It was originally an operating division of Ambassadors International, Inc., but was divested into a separate corporation in 2002 to form the company under its current name.[4] The CEO is Jeffrey Thomas, whose 2009 compensation totaled over $1.7 million.[5]
This for-profit company has a close business relationship with People to People Student Ambassador Program and several other related cultural exchange groups involving students from several countries.[citation needed]
According to the company's end of year filings, in 2008 and 2009, Ambassadors Group served 41,929 and 34,248 travelers, respectively.[6] In 2010, the company estimated that it would serve 26,674 participants (a net decrease of 22%.[7])
Travelers (thousands) :
| years[8] | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| travelers | 15.5 | 17.1 | 25.3 | 25.8 | 21.0 | 22.7 | 30.6 | 37.8 | 43.1 | 52.7 | 41.9 | 34.2 | 26.7 |
History
- In 1956, President Dwight D. Eisenhower founded People to People.
- In 1967, Ambassadors Group is founded
- In 1995, Ambassadors Group became a wholly owned subsidiary of Ambassadors International, Inc.
- In 1996, acquisition of Marc L. Bright (professionals). Jeffrey Thomas joined the company.
- In 1999, acquisition of Travel Dynamics (sport)
- In 2001, Jeffrey Thomas became CEO
- On February 28, 2002, Ambassadors Group spun off from Ambassadors International
- On May 15, 2008, Ambassadors Group bought BookRags, an educational website for $18 million.[9][10][11] The merger was a friendly takeover.[12]
- On March 17, 2009, Ambassadors Group announced its partnership with Discovery Education to become the travel provider for the new Discovery Student Adventures learning and adventure-based trips for students in grades 5–12.[13] In 2010 approximately 125 students traveled.[14]
- On July 13, 2015 the company announced it's imminent dissolution. Ambassadors Group cites losses of over $17.5 Million in 2014 and floundering sales as causes for closing up shop at the end of this year.[15]
- On October 8, 2015, it was announced that beginning in 2016, Enriching Cultural Experiences (ECE) International will serve as the travel provider of People to People International replacing the Ambassadors Group.[16]
References
- ↑ 1.0 1.1 1.2 Ambassadors Group (EPAX) annual SEC income statement filing via Wikinvest.
- ↑ 2.0 2.1 Ambassadors Group (EPAX) annual SEC balance sheet filing via Wikinvest.
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- ↑ Ambassadors Group (EPAX) annual SEC 10K
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- ↑ http://www.khq.com/story/29538835/ambassadors-group-going-out-of-business
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External links
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