Wigix Marketplace Appoints Draper & Burnham to Board

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."