Online marketplace uBid.com names Lee Olsen chief operating officer

Online marketplace uBid.com has named Lee Olsen chief operating officer and says it plans to take advantage of his international e-commerce expertise as it expands into emerging markets around the world.

Olsen spent 22 years at IBM and was part of a team that helped structure Bermuda’s laws on electronic business and online credit transactions in the early 1990s, the company says.

“As our company continues expansion into emerging global markets, Lee`s experience will recognize the potential of untapped vertical markets, for the benefit of the company," says Jeff Hoffman, uBid`s CEO. A 10-year-old online marketplace, uBid.com is owned by uBid.com Holdings, Inc.