Atlanta, GA (PRWEB) January 29, 2009
Chain Reaction eCommerce, Inc., developers of CRE Loaded (http://www.creloaded.com), a leading open source ecommerce shopping cart software company, today announces it has named Gregory P. McGraw as its new President and Chief Executive Officer. Chain Reaction eCommerce is a portfolio company of Total Technology Ventures (TTV), an Atlanta-based investment firm focused on early-to-late stage privately held companies and IT driven businesses in the financial services industry.
"We are very excited to have Greg join the company and guide it through its next phase of growth as a leading PCI compliant shopping cart solution provider while still preserving its innovative roots and community support as an open source project." said Gardiner W. Garrard III, managing partner of TTV.
Before coming to Chain Reaction eCommerce, McGraw was a partner with TechCFO, LLC, where he helped several technology start-ups in the Southeast obtain venture capital funding and provided M&A advisory services. McGraw has over 20 years of senior operating experience in both public and private technology companies including a successful stint as CEO of Cypress Communications, where his efforts led to its acquisition by Arcapita in 2005. McGraw was also named one of the 50 Top Entrepreneurs in Atlanta in 2004 and 2005 by Catalyst Magazine.
McGraw is joining CRE Loaded as the need for safe, compliant shopping cart solutions is growing substantially and affecting all e-commerce merchants. New guidelines are being enforced by the Payment Card Industry (PCI), a consortium of creditors from Visa to MasterCard focused on compliance rules concerning how merchants operate their online store and transmit customer data. CRE Loaded helps guide smaller e-businesses through the PCI compliance process, as well as provides them with integrated e-merchant store solutions to give their customers a safe place to shop online.
"The demand for safe, secure ecommerce shopping cart solutions has skyrocketed as online transaction volumes have grown to nearly $1.0 trillion worldwide," says McGraw. "I believe that helping smaller e-merchants conduct business in a truly compliant world opens the door for CRE Loaded to emerge as a leading solution provider in this very large market."
About CRE Loaded
CRE Loaded is a leading open source ecommerce software suite that powers over 200,000 online merchant stores worldwide. CRE Loaded's PCI compliant shopping cart software is based on the osCommerce architecture operating under the GPL and includes a "loaded' solution set of powerful features, plug-ins and affiliate partnerships all designed to help online merchants get web stores up and running in secure environments and generating revenue faster. CRE Loaded is the lead product of Chain Reaction Ecommerce, Inc., a venture backed ecommerce software company, based in Atlanta, GA. To learn more, call 1-800-609-2141 or visit http://www.creloaded.com.