Former CFO of PayPal and BlueRun Ventures to Join CommerceTel Board of Directors, Chair Audit Committee
November 29 2011 - 9:30AM
Marketwired
CommerceTel Corporation (OTCBB: MFON), an award-winning provider of
proprietary mobile marketing technologies and solutions, is pleased
to announce David Jaques has agreed to join to its Board of
Directors and serve as Chair of the Company's Audit Committee.
Jaques' appointment will begin December 1st, 2011.
For the last two decades, David has provided financial expertise
to private equity firms, startup companies and financial
institutions. David was the CFO for BlueRun Ventures, the former
venture fund of Nokia Corporation, where he created the financial
and administrative infrastructure for the venture capital
partnership. Under his leadership, assets under management
increased from $150 million to $1 billion in six years.
Prior to BlueRun, David was the CFO of PayPal. There, he
established the company's financial planning and accounting
processes, was instrumental in raising three rounds of private
equity financing totaling $140 million, and coordinated the merger
of PayPal, Inc. with X.com Corporation which resulted in a $680
million valuation.
"My career in and around Silicon Valley has exposed me to the
epicenter of the technology industry, and the rapid evolution of
the mobile industry is unprecedented," stated Mr. Jaques.
"CommerceTel's unique technology, strategy, and execution have
attracted my participation at a material level and I'm very excited
to leverage my background in supporting the Company's exciting
growth."
"Attracting a Director of David's caliber to lead the financial
oversight of our Company at the Board level is a big testament to
our growing success," said Dennis Becker, CommerceTel CEO. "Mr.
Jaques' experience speaks for itself, and his participation on our
Board exemplifies our goal of implementing world class leadership
at all levels of our organization."
Before PayPal, David was a Senior VP at Silicon Valley Bank, and
held various senior positions at Barclays Bank PLC. Mr. Jaques has
a Higher National Diploma (HND) in Business Administration from
Polytechnic of the South Bank, London, England. He is also an
Associate of the Institute of Bankers (United Kingdom) and a member
of the Association of Financial Professionals.
For more information, please visit
http://www.commercetel.com.
About CommerceTel
CommerceTel is an award-winning provider of proprietary mobile
marketing technologies and the inventor of C4, a unique,
enterprise-grade platform empowering brands to engage mobile
consumers via multiple channels. The only system of its kind, C4 is
a cloud-based solution providing broad mobile communications and
extensive CRM features. It is integrated with multiple tier-one
PSTN/ IP carriers and micropayment processing facilities as well as
with carrier premium SMS billing systems.
Safe Harbor
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
(the "Act"). Statements including words such as "seek," "intend,"
"believe," "plan," "estimate," "expect," "anticipate" and other
similar expressions are forward-looking statements within the
meaning of the Act. Some or all of the events or results
anticipated by these forward-looking statements may not occur.
Factors that could cause or contribute to such differences include
the impact of intense competition, the continuation or worsening of
current economic conditions and the condition of the domestic and
global credit and capital markets as well as the Risk Factors
disclosed in the Company's Annual Report on Form 10-K filed with
the Securities and Exchange Commission on December 27, 2010.
Further information on CommerceTel's risk factors is contained in
its filings with the Securities and Exchange Commission.
CommerceTel does not undertake any duty nor does it intend to
update the results of these forward-looking statements.
Company Contact: Dennis Becker CEO CommerceTel Corp. Phone:
619.725.0990 Email Contact
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