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GeePS.com, Inc. Secures $2 Million in Funding and Expands Board of Advisors: Wireless, Location-Based Technologies Available to Bricks-and-Mortar Retailers
FOR IMMEDIATE RELEASE
Contact:
Jon Boroshok
TechMarcom, Inc.
978-502-1055
jb@techmarcom.com
GeePS.com, Inc. Secures $2 Million in Funding and Expands Board of Advisors
Wireless, Location-Based Technologies Available to Bricks-and-Mortar Retailers
CRANBURY, NJ, MAY 4, 2000 - Wireless start-up GeePS.com, Inc., (www.geeps.com) today announced that it has received $2 million in venture capital from Cupola Investments Limited, and has a mandate to raise a further $33 million. GeePS has developed end-to-end location-based wireless technologies for bricks-and-mortar retailers using Wireless Application Protocol (WAP), Palm, and Global Positioning Satellite (GPS) technologies.
| | - believe GeePS.com is a unique technology geared for the mobile Internet economy, which will see explosive growth in the next few years," said Arif M. Naqvi, Chief Executive of the Cupola Investments Limited. "GeePS bridges the gap between the wired consumer and conventional retail businesses."
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GeePS.com, Inc. provides an end-to-end solution that empowers bricks-and-mortar merchants to send promotional messages to nearby prospects. Consumers are attracted to stores from the GeePS.com shopping portal, and can complete wireless transactions through in-store POS systems.
"With this investment, GeePS.com, Inc. can remain at the forefront of new wireless e-business technologies for bricks-and-mortar retailers," said GeePS CEO Andy Goren. "We will soon expand beta beyond New York City and San Francisco, and offer an end-to-end wireless e-business solution throughout the country."
GeePS also announced the expansion of its Board of Advisors to include:
| | - Frederick G. Duffner - Former Senior Vice President - Customer Management at Revlon, Inc.
- Mr. Jamal Belhadj, Director of Internet Strategy at Wanadoo (France Telecom subsidiary). Wanadoo is an ISP and has surpassed AOL as France's largest ISP.
- Shahid Quraeshi - Former Vice President and Controller of Melville Corporation, a $10.5 billion specialty retailer, which operated more than 8,000 retail stores including CVS.
- Leon Podolsky - Vice President of Software Development at Nettech Systems. Former Vice President of Software Development at Computer Associates.
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GeePS has also hired James R. Wells, as Vice President of Sales. Wells has over 30 years of retail experience in merchandising, marketing, and stores management. He most recently served as President of TheSalesChannel.com, developing on-line data based marketing for department and apparel specialty stores. He has served as Senior VP-Merchandise, Sr. Vice President-Marketing and Sales Promotion, and Executive Vice President-Stores for Woodward and Lothrop/John Wanamaker Department Stores.
About Cupola Investments Limited
Cupola Investments Limited acts as a strategic investor and participates in investment activities in various stages of growth. Cupola's regional focus is in the consumer and service-related sectors; however, its strategic investment activity is focused largely on the Internet and telecommunications industries.
About GeePS.com, Inc.
Based in Cranbury, NJ, GeePS.com, Inc. (www.geeps.com) is a pioneer in location-based online wireless technologies. GeePS was founded in 1999 by computer software and wireless-technology professionals seeking to create location-based wireless Internet applications. The wireless Internet market is one of the fastest growing segments of the telecommunications market.
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