LAUNCHFUEL HITS CRITICAL VELOCITY, ACCELERATING INTERNET STARTUP BUSINESSES IN MID-ATLANTIC REGION
Expands Board of Advisors and Continues to Build Senior Executive Team
Reston, VA, May 17, 2000 - LaunchFuel Inc., the premier Internet accelerator company helping venture capitalists, angel investors, and incubators move their startup portfolio companies rapidly and successfully to market, today announced enhancements to its Board of Advisors and senior executive team with the addition of key Internet industry executives. Edward D. Postal and Larry D. Clark have been appointed to the company's Board of Advisors while Roger L. Yee and Michael P. Binko expand the company's senior executive team. These appointments demonstrate significant momentum as LaunchFuel continues to achieve critical growth milestones and strengthen its core capabilities.
Postal recently joined Cidera, Inc., an international leader in the satellite delivery of broadband content, as chief financial officer and executive vice president. Previously, Postal held the same positions for more than three years at PSINet Inc. (NASDAQ: PSIX), a leading Internet Service Provider (ISP) focused on businesses. Prior to PSINet, Postal was chief financial officer and senior vice president of The Hunter Group, Inc., a privately held consulting firm. Postal is a member of NASDAQ's Listing and Hearing Review Council; he currently serves on the Board of Advisors for the Indian CEO High Tech Council, is a member of the Financial Executives Institute and is a Certified Public Accountant.
Clark has been chief operating officer and executive vice president with Proxicom, Inc. (NASDAQ: PXCM) since March 1998 and has over 20 years of expertise in information technologies and management consulting. Prior to Proxicom, Clark held various executive positions from May 1992 until March 1998 with MCI Systemhouse Corporation -- the systems integration, technology development, and information technology outsourcing unit of MCI. During his tenure at MCI, Clark served as vice president and general manager of the United States East Region and was responsible for managing all aspects of business operations for that unit. From 1990 until 1992, Clark was a senior engagement manager at McKinsey & Company, Inc., a consulting firm. Previously, Clark held various management positions with The Information Consulting Group and Andersen Consulting.
"Since we started the company in August of 1999, LaunchFuel has augmented its senior executive team, extended its functional areas of expertise, increased its base of qualified portfolio companies, created its Alliance Network, and enhanced its financial position by closing an initial round of private funding," said Mary Knebel, chief executive officer and president of LaunchFuel, Inc. "We have also secured participation from a select group of Internet experts to serve as the core of LaunchFuel's Board of Advisors. These trusted individuals bring in-depth knowledge to LaunchFuel in the areas of capital acquisition, financial strategy, marketing, operations, technology, and management consulting. With guidance from Ed, Larry, and others, LaunchFuel continues to enhance its position as a leading force in the Internet accelerator market."
LaunchFuel was formed by Internet professionals from AOL (NYSE: AOL), AppNet (NASDAQ: APNT), AT&T (NYSE: T), Cable & Wireless (NYSE: CWI), Magnet Interactive, Network Access Solutions (NASDAQ: NASC), Proxicom, PSINet, and Qwest (NASDAQ: QWST) with the mission of helping Internet startups reach defined growth stages quickly and successfully. In addition to the appointment of Postal and Clark to the Board of Advisors, today LaunchFuel also announced the addition of two members to its senior executive team.
"LaunchFuel has assembled a solid management team consisting of seasoned Internet professionals in each operating unit," said Postal. "Beyond the experience of the senior executives, every member of LaunchFuel's operating units has directly contributed to the growth of established Internet companies in the industry. Based on the strength of the business model, the scope of opportunity in this market sector, and my confidence in the management team, I look forward to continued strong growth for LaunchFuel."
Roger Yee and Michael Binko, two of LaunchFuel's co-founders, have formally joined the senior executive team as the company continues to aggressively position itself for long-term growth. The existing senior executive team includes Knebel, co-founder, CEO and president; Thomas Gillespie, co-founder, COO and vice president, e-Strategy Group; Joel Getis, CFO and vice president, Finance and Operations Group; Lisa Walsh, vice president, Business Development Group; and Lee Evans, vice president, Product Marketing Group. Yee and Binko join the team, respectively, as CTO and vice president, Technology Strategy Group and chief communication officer and vice president, Marketing and Communications Group.
Yee joins LaunchFuel from AppNet Inc., a full-service e-business solutions provider, where he was vice president of Technology Strategy. In this management role, Yee directed strategic planning, operations, and management for a multi-discipline software engineering business unit and provided technical assessment and implementation management for AppNet client projects. Previously, Yee was a principal of LOGEX International, LLC an e-commerce solutions provider acquired by AppNet that focused on the retail, catalog, and related industries. Before LOGEX, Yee was a developer for America Online where he prototyped and developed advanced Web-based multimedia applications. At LaunchFuel, Yee is responsible for the company's technological vision and he will assist LaunchFuel's portfolio companies in aligning technology with business objectives.
Binko joins LaunchFuel after managing a variety of marketing and business development functions with PSINet Inc. Most recently, Binko directed business development and marketing activities focusing on the vertical industries related to sports, media, and entertainment. In this role, Binko handled new business development, client services, and quality assurance for a number of major accounts and directed the activities of a full-service team of Web and multimedia application developers/programmers. Previously with PSINet, Binko directed a variety of strategic functions with PSINet's corporate marketing and communications unit since joining PSINet in early 1997. Prior to PSINet, Binko worked for five years with Stackig Inc., a TMP Worldwide (NASDAQ: TMPW) marketing communications and advertising firm concentrating on technology clients. As a senior account executive and counselor in the corporate communications and public relations group, Binko's responsibilities were business development, major account management, and internal team development. At LaunchFuel, Binko leads corporate marketing and communications for the company and he will counsel startups on branding and awareness, target market affinity, public relations, analyst outreach, and product publicity.
About LaunchFuel, Inc.
Through its Alliance Network, LaunchFuel has forged strategic partnerships with providers of services that are critical to Internet startups. These organizations include, yet are not limited to, Web development and design firms, PR agencies, recruitment firms, law firms, commercial real estate companies, and accounting firms. Headquartered in Reston, VA, LaunchFuel also has offices in Richmond, VA and suburban Baltimore, MD. For more information regarding LaunchFuel, please contact us directly via telephone at 703-736-0252 or via electronic message to firstname.lastname@example.org.