July 21, 2008, 12:00 AM

Wigix raises money and appoints venture capital execs to board

Seeking to expand, online marketplace Wigix has secured $5.35 million in funding and appointed two venture capital veterans to its board.

Seeking to expand, online marketplace Wigix has secured $5.35 million in funding and appointed venture capital veterans Tim Draper and Bill Burnham to its board.

Draper is managing director and founder of Draper Fisher Jurvetson, which provided the recent funding for Wigix. Draper Fisher Jurvetson has provided financial backing for such online companies as Skype, Overture and Hotmail.

Burnham also has experience in venture capital, working to help launch such companies as Cyanea and Data Power--both of which are now part of IBM. He also has worked for several years as a Wall Street analyst focused on e-commerce and online trading.

"We`re delighted to announce such high-profile board members with such deep understanding of the e-commerce market," says James Chong, Wigix`s co-founder and CEO. "This will be invaluable in helping Wigix achieve its goal of transforming the way consumer products are valued and traded online."

The company`s recent funding will go towards building a new online portal, transitioning older customers to the new system and beefing up customer service.

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