Jim Clishem Named New Transaction Wireless CEO

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Former CEO, Doug Schneider, to remain as board member and strategic advisor in continued success and next phase of growth.

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I am honored to be an integral member of this high performing team. I also believe that with the many high profile client wins achieved to date, the company is on track to becoming a dominate leader in the digital stored value and gift card industry

Transaction Wireless, the leading provider of digital gift card solutions, today announces the appointment of Jim Clishem to president and CEO. As part of the management transition, former CEO, Doug Schneider, is to remain as a strategic advisor and board member to provide continuity and oversee Transaction Wireless’ next phase of growth and continued commercial success.

“Doug Schneider has done a tremendous job in building Transaction Wireless to the company it is today. We thank Doug for the fundamental role he has played in shepherding the company’s overall strategy, platform and market development, which has generated incredible momentum and garnered key, strategic commercial wins. As a result, this has greatly enhanced Transaction Wireless’ overall market position, thus setting the stage for accelerated future growth,” said Leo Spiegel of Mission Ventures. “We wish Doug the very best in his next endeavor and look forward to having him still involved as a strategic advisor and member of the Transaction Wireless board.”

Jim Clishem’s appointment to CEO is a natural progression that coincides with Transaction Wireless’ plan to further grow its global footprint and scale its successful cloud-based gift card platform into new markets. Clishem’s background includes holding both private and public CEO positions along with a deep expertise in commercializing, growing and scaling software and technology businesses.

“We welcome Jim and are pleased to pass the baton to such an accomplished leader and seasoned executive. His extensive track record of building successful businesses will serve as the formula for enhancing and scaling Transaction Wireless for the long term,” added Spiegel. “Jim’s appointment will also be a smooth transition due to his current knowledge of Transaction Wireless and long standing executive relationship with Mission Ventures.”

Clishem’s previous experience includes serving as president and CEO and board member of Active Power, a clean-tech industrial mission critical power and infrastructures solutions company, with a revenue run rate now approaching $100M per year. Prior to Active Power, Jim was VP business development at software provider Peregrine Systems where he assisted in growing the company which led to its eventual sale to Hewlett Packard in 2005. In addition, Clishem also founded and held executive positions for two profitable private technology firms serving as COO for NTR.net as well as president, CEO and board member for Xodiax, a hosting and software managed services business, which achieved #85 in the Inc. Magazine’s fastest growing 500 privately held companies in America.

Well respected in the business community, Clishem is an accomplished leader and high performance team builder with clear strategic focus and practical execution excellence to achieve high performing business and financial objectives. Along with Clishem’s commercialization experience to scale businesses, he has also raised over $50M in equity based funding and established various working capital lines of credit to fuel growth.

“I am honored to be an integral member of this high performing team. I also believe that with the many high profile client wins achieved to date, the company is on track to becoming a dominate leader in the digital stored value and gift card industry,” said Jim Clishem, newly appointed CEO of Transaction Wireless. “We very much appreciate and acknowledge Doug’s significant contributions to Transaction Wireless. We are delighted that he has agreed to remain on our board to provide both industry guidance and strategic advice as we aggressively build upon our positive momentum for future success.”

About Transaction Wireless
Since 2006, Transaction Wireless has been dedicated to helping retailers and partners transform their traditional gift card business to meet the ever-changing demands of today’s digital consumer. Transaction Wireless has worked with over 100 brands to offers the most innovative, versatile PCI Level 1 compliant B2C and B2B gift card and integrated marketing capabilities in the industry, allowing clients to quickly deploy, acquire customers, build loyalty, and grow their bottom line. Transaction Wireless’ patented platform enables retailers to easily connect and intelligently engage with consumers through multiple channels, such as online, mobile, social, and more, all while providing the best in security, privacy, and customer support. Transaction Wireless is trusted by some of the biggest brands in retail such as American Eagle Outfitters, Applebee’s, Buffalo Wild Wings, California Pizza Kitchen, Domino’s Pizza, Groupon, Overstock.com, Red Robin, Sport Chalet, and more. For more information visit: http://www.transactionwireless.com.

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Esther Burciaga
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