Ecommerce Software Vendor Elastic Path Announces Record Quarter

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Rapidly-growing Vancouver company increases traction in the online retail industry with successful trade show and international customers.

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Elastic Path's enterprise-class ecommerce software makes our job of integration easy and the big winner is the consumer who ends up with a powerful and well-thought out online retailing system. We recently implemented Elastic Path for Cotswold Collections, a UK-based fashion designer and manufacturer, and we look forward to observing their success.

Ecommerce software vendor Elastic Path (http://www.elasticpath.com) closed deals with 19 companies in the 2nd Quarter of 2006 resulting in a record quarter for the award-winning company.

The announcement follows closely on the heels of an attention-grabbing exhibit at the Internet Retailer Exhibition and Conference in Chicago in June which featured performances by contortionists reinforcing the message, "Flexibility Matters."

Elastic Path CEO Harry Chemko puts forth, "We are excited about our recent success as it shows retail adoption of our innovative platform. We are investing heavily in Research and Development surrounding our ecommerce software in order to keep up the momentum, and advance online retailing for our customers."

This industry acceptance is evidenced as customers migrate from competing ecommerce platforms to leverage Elastic Path's pioneering technology while other customers choose Elastic Path to accommodate growth after "graduating" from home-grown or on-demand stores.

Elastic Path's recent signings represent a variety of industries and business models including high-end clothing retailer Ted Baker and GPS and electronics manufacturer Garmin, as well as less-traditional ecommerce merchants including Iceland Telecom and the University of Texas at Arlington.

While Elastic Path's primary market is North America, recent customers are distributed around the world with customers from Germany, the United Kingdom and Chile along with the aforementioned Iceland. This worldwide reach shows the importance of Elastic Path's built-in localization features like multi-language and multi-currency support - critical tools for global ecommerce.

In both the North American and international markets, Elastic Path works with professional System Integrators who implement the software for clients ranging from established corporations to start-ups.

Hamid Shayegan, IT Director from Excentric Thinking (http://www.exentricthinking.com) explains, "Elastic Path's enterprise-class ecommerce software makes our job of integration easy and the big winner is the consumer who ends up with a powerful and well-thought out online retailing system. We recently implemented Elastic Path for Cotswold Collections, a UK-based fashion designer and manufacturer, and we look forward to observing their success."

To facilitate continued growth, Elastic Path acquired an additional floor of office space at their Vancouver headquarters and will add an additional ten employees to the current staff of 30 in the forthcoming quarter, further indicative of Vancouver's thriving technology sector. Elastic Path's progress is chronicled on a media-rich blog - available at http://www.getelastic.com - featuring podcasts and videocasts on ecommerce software and online retailing.

About Elastic Path Software

Elastic Path Software pioneered flexible ecommerce for retailers who demand maximum control over rapidly evolving online stores. With Elastic Path, customers can leverage a fully-integrated ecommerce solution, enabling them to thrive in today's increasingly competitive multi-channel marketplace. Companies like Aeroplan, Makeup.com, Procter & Gamble, 24 Hour Fitness, JBoss, Random House, and Xerox use Elastic Path for the core ecommerce features they demand today -- and the evolving flexibility they need to engage tomorrow's increasingly sophisticated customer.

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Jason Billingsley
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