In its second-largest acquisition, Amazon buys the company for $970 million.
BSocial Networks, which launched an e-commerce Facebook application last month, has named Bill Bradley CEO, Angela Stewart chief marketing officer and Brian Williams CFO.
Social commerce application developer bSocial Networks Inc. has added three executives to its management team because of rapid growth following the launch last month of its Market Lodge program, the company says.
Bill Bradley has been named CEO. Bradley will be responsible for overall business expansion and daily operations. Previously he was CEO of Enlighten Software Solutions Inc. and CEO and founder of Fortex Inc.
Angela Stewart has been appointed chief marketing officer and will oversee growing the marketing operations for the Market Lodge application, its vendors and social network users. Prior to bSocial Networks, she worked in various capacities for Freshwater Software, MocaPay and ComUnity Central Inc.
And Brian Williams has been named CFO. Williams has held CFO and board positions with several companies, including Ambeo and MedSimulation. He has significant experience raising capital and working with the investment community, bSocial Networks says.
“The Market Lodge launch on the Facebook platform was just the beginning-bSocial Networks is rapidly adding products, vendors and social network users to Market Lodge and is increasing its functionality,” Bradley says.
Market Lodge enables Facebook users to create miniature e-commerce stores on their Facebook pages. It allows Facebook users to select from 1,100 products from 50 retailers to sell in their own shops. Facebook users get a 10% commission for every product they sell (deposited in personal PayPal accounts), bSocial Networks gets a 35% to 50% commission, and retailers get an outlet to sell products to Facebook’s 70 million users without having to advertise, says Sue Spielman, bSocial Networks co-founder.
Facebook offers users a wide variety of applications to add to their pages. To set up shop, a user selects Market Lodge from the list of applications; the application then is automatically integrated in the Facebook user’s page. The user then sets up an account with Market Lodge and designs and manages their store via a dashboard.
The company plans to expand its Market Lodge offering, initially created using the Facebook application program interface, to other social networks.