BOB KAVNER AND FREDRIC HARMAN JOIN BOARD
MONTEREY, Calif., November 9, 2005 – SHOP.COM™ (www.SHOP.COM), the destination online marketplace where people conveniently shop for thousands of trusted brands using a single account, today announced the appointment of Bob Kavner and Fredric Harman to its Board of Directors. This expansion brings SHOP.COM’s board to five members.
Kavner and Harman join existing Board members, including:
• Lee Lorenzen, founder, Chairman and CEO
• Michael C. Boyd, co-founder of QVC, Inc., and CEO of Longport, Inc.
• William H. (Bill) Williams, President and CEO, Harry & David Holdings, Inc.
“We are honored and privileged to have Bob and Fred join our board,” said Lee Lorenzen, Chairman and CEO of SHOP.COM. “Bob’s hands-on experience, expertise and vast accomplishments, have been a major contributor to the success of several rapidly-growing technology firms and industry-leading companies. Fred’s successful track-record in guiding a broad range of Internet-based service companies, knowledge of the retail sector and experience introducing new services to the marketplace will be an exceptional complement to our management team.”
Mr. Kavner has been active since 1995 as a venture capital investor and board member of several technology-related companies including EarthLink, idealab!, Ticketmaster-CitySearch, Ironport Systems, Jupiter Media Metrix, Overture Services, Vendare Media and Pandora. He is currently Chairman of the Board for Earthlink, Vendare and Ironport Systems. Mr. Kavner is the former CEO of On Command Corporation, a provider of in-room video systems to the lodging industry. From 1984 to 1994, he held senior level positions at AT&T, including CEO of the Multimedia Products and Services Group, President of the Data Systems Division, Chairman of the Unix Systems Laboratory, Chief Financial Officer, and a member of the Executive Committee of AT&T. During the 18 years prior to joining AT&T, Mr. Kavner was a Partner in Coopers & Lybrand and was Co-Chairman of the firm`s information industry practice. Mr. Kavner formerly held Board positions with FleetBoston Financial, Sun Microsystems, Olivetti, Philips Telecommunications and Duracell.
“With its innovative technology and unique business model, SHOP.COM is poised to become the online marketplace of choice with both consumers and the merchant community. I’ve been particularly impressed at the unwavering commitment of SHOP.COM’s management team and entire company to the success of their merchants and the satisfaction of their customers. I look forward to contributing to their ongoing rapid growth, success and market leadership,” said Bob Kavner.
Mr. Harman is a General Partner of Oak Investment Partners. He joined Oak in 1994 after seven years with Morgan Stanley`s Venture Capital Group, where he was a General Partner. Mr. Harman`s primary focus is on Internet/enterprise software and services. While at Oak, Mr. Harman has led Internet infrastructure investments in Aventail, Exodus, Inktomi (Yahoo) and Internap, and worked with other Internet service companies including Allyes, aQuantive, Campus Pipeline (SCT), Cobalt, FastClick, NetBlue, Qpass, and Razorgator. His enterprise application investments include Business Engine, Captura (Concur), ILOG, Knowledge Networks, Concerto, Pivotal, Primus Knowledge Solutions, Quintus (Avaya), Reardon Commerce, Securant (RSA), and Talisma. He has also led outsourced services investments in Sutherland Global Services, International Manufacturing Services and VXI Electronics. Prior to Morgan Stanley, Mr. Harman worked in business development at Hughes Communications where he was involved in the formation of the predecessor to DirecTV.
“SHOP.COM is pioneering the next step in the evolution of retailing on the Web and have their sights set on becoming one of the top online destinations for shopping. I look forward to working with management to help move the company closer to fulfilling their vision of assembling the world’s best catalog, e-tail and retail stores under a single roof for the benefit of consumers and merchants,” stated Fred Harman, General Partner at Oak Investment Partners.
About SHOP.COMTM
SHOP.COM is the destination online marketplace designed to help consumers more conveniently shop on the web. SHOP.COM organizes millions of products from more than a thousand merchants in a single location, allowing consumers to shop across them all – start to finish – with one personal password-protected account. SHOP.COM is a privately-held company headquartered in Monterey, Calif. For more information, visit the company’s website at www.SHOP.COM.
Press Contact:
Carmen Hughes
Ignite P.R.
650.592.1768
carmen@ignitepr.com
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