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EcommerceBytes-NewsFlash, Number 1831 - July 10, 2008 - ISSN 1539-5065    3 of 6

Wigix Marketplace Appoints Draper & Burnham to Board

By Ina Steiner
July 10, 2008

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Wigix appointed Tim Draper, Managing Director and founder of Draper Fisher Jurvetson, and Bill Burnham of Inductive Capital to its Board of Directors. Wigix's Board is led by company CEO and co-founder James Chong. The appointments follow the recent announcement that Wigix has raised $5.35 million in Series A funding, led by Draper Fisher Jurvetson.

"We're delighted to announce such high-profile board members with such deep understanding of the ecommerce market. The senior management and advisory team at Wigix can draw on experience of working with innovative companies such as Hotmail, Schwab, Skype, and Baidu," said James Chong, Wigix's co-founder and CEO. "This will be invaluable in helping Wigix achieve its goal of transforming the way consumer products are valued and traded online."

According to the company's press release, "Wigix transforms online auctions by employing the bid/ask model utilized by NASDAQ and most other modern markets around the world allowing for informed, low-risk transactions. The company's minimal fees, combined with a community-driven marketplace in which its members can profit directly from the success of the site, boosts Wigix to the forefront of online marketplaces, where people can find the consumer products they need and sellers can make more substantial profits."

About the author:

Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com.

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