ChannelAdvisor Appoints New Board Member;
Chief Executive Officer Receives Entrepreneur of the Year Award
Tim Buckley, Former Vice President and COO of Red Hat Joins Board of Directors
Research Triangle Park, NC - June 29, 2004 - ChannelAdvisor Corporation, the leading provider of small business and enterprise solutions for online marketplaces including eBay (NASDAQ: EBAY) and Amazon.com (NASDAQ:AMZN), announced today that Tim Buckley, former COO of Red Hat, has been appointed to its board of directors. The company also announced that Scot Wingo, CEO and President of ChannelAdvisor, was named 2004 Ernst & Young Entrepreneur of the Year in the Technology category at the Carolina's award gala held on June 17.
ChannelAdvisor's new director, Tim Buckley is a 25-year veteran of the technology business. Buckley is the former Chief Operating Officer and Vice President of Red Hat Software (NASDAQ: RHAT), the leading developer and support provider of Linux operating system. Prior to Red Hat, Buckley was the Senior Vice President of Worldwide Sales at Seattle-based Visio Corp., where he grew the company from a start-up to an estimated $215 million in fiscal 1999. Visio was acquired by Microsoft (NASDAQ: MSFT) in 1999. Buckley has been instrumental in building some of the most successful start-ups in the computing industry, including Aldus, the company that created PageMaker, and Approach, a PC database company that was later sold to Lotus Development Corp.
"I like to work with winners," says Buckley. "ChannelAdvisor has the leadership, the technology, the creativity and the team to dominate the industry. "I am looking forward to working with the Board and contributing to ChannelAdvisor's exciting future."
The Entrepreneur of the Year program recognizes outstanding entrepreneurs who are building and leading dynamic and growing businesses. Wingo is now eligible for the National Entrepreneur of the Year awards program, which will culminate in Palm Springs, California in November 2004.
"This award is about ChannelAdvisor, not Scot Wingo. Our team's hard work and dedication is reflected in it and we are honored to receive it," says Scot Wingo, CEO and President of ChannelAdvisor. "We are extremely pleased with our corporate performance thus far, and we look forward to continued success through the strong relationships we have built with our customers and partners such as eBay and Amazon.com."
About ChannelAdvisor Corporation
ChannelAdvisor Corporation provides technology and services that enable leading online retailers to maximize their products across multiple e-commerce marketplaces such as eBay, Amazon.com and Overstock.com, comparison shopping engines such as Shopping.com, Shopzilla, Nextag and Google Product Search and search engines such as Google, Yahoo! and MSN. In 2006, ChannelAdvisor managed over $1.6 billion in gross merchandise value (GMV) on behalf of its customers. ChannelAdvisor solutions combine best practices, on-demand software and integration technology to help retailers sell more products, faster, by automating labor-intensive, manual functions so they spend less time optimizing campaigns and more time solving marketing and business issues. ChannelAdvisor's customers include, GSI Commerce, Sears, Brookstone, Abebooks and Motorola. ChannelAdvisor Corporation is headquartered in Research Triangle Park, NC with offices in Seattle, the United Kingdom and Germany. For more information, visit http://www.channeladvisor.com/.
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