PALM DESERT, Calif. -- Spare Backup, Inc. (OTC Bulletin Board: SPBU), an industry-leading provider of automated, online backup applications for home users and small businesses, announced today that it has engaged Stephen Meyer as consultant for business development, capital formation, and advisor to the CEO and the Board of Directors. The Company has also entered into talks with Mr. Meyer to take on the roles of President and CEO.
Mr. Meyer will initially focus his efforts in helping the company with its capital formation, strategy, product development and go to market initiatives. Mr. Meyer brings a wealth of experience and strategic vision to Spare Backup in M&A and developing strategic partnerships. He is experienced in many aspects of technology, data analytics, social media and networking critical to Spare Backup's long-term success.
Mr. Meyer has been a Managing Partner in TechFund Capital since 2000, where he managed investments in portfolio companies and actively assisted portfolio companies in all facets of early stage development from strategy, planning, operations, sales, fund raising, acquisition and technology transfer. Before joining TechFund in 2000, Mr. Meyer was the President and COO of Puma Technology, Inc., now a part of Nokia, from 1999 to 2000. During his tenure as President, Puma was the largest year over year percentage price gainer in the history of the NASDAQ Stock Market. While at Puma, he spearheaded the critical aspects of the company's growth including strategy, financing, M&A, partnerships, and general operations. Mr. Meyer came to Puma through its acquisition of NetMind Technologies, Inc. in 1999, where Mr. Meyer served as SVP of Sales and Business Development.
Mr. Meyer holds an MBA from Harvard Business School and a BA, magna cum laude, in Political Science from the University of California, Berkeley.
Mr. Cery Perle, CEO of the Spare Backup, Inc., commented, "We are excited to work with Stephen as he has a skill set that will be critical to our company and its future growth trajectory. We intend to work diligently to complete the necessary negotiations to bring him on board as a corporate officer. The wealth of experience he has garnered in taking a public company like Puma through a rapid growth phase and bringing unprecedented value to its shareholders is exactly what we need to help bring Spare to the next level. We have built a tremendous product and distribution network and we are confident that Stephen will be of great help in delivering on our bright future."
Commenting on his new relationship with Spare Backup, Mr. Meyer stated, "Spare Backup represents a promising and exciting challenge, with many important building blocks now beginning to coalesce and come together. The company already has both a talented team and has many of the key elements necessary to take the critical next steps on the path to success. I am looking forward to working side by side with Cery and the rest of the team to deliver on the promise of the company and to leverage its unique combination of technology, partners and customers to achieve break even, then profitability and ultimately success, as the leader in the automated online backup sector and cloud services. "
For additional information, visit http://www.sparebackup.com. For investor relations, please contact our investor relations department at 760-779-0251 Ext. 224 or ir@sparebackup.com.
About Spare Backup, Inc.:
Spare Backup, Inc. specializes in helping consumers, small office/home office users and small to mid-sized businesses protect their computer data quickly, automatically and cost-effectively. The company's flagship Spare Backup product is the first totally automated online backup service that intelligently selects, secures and stores files without any user intervention, automatically backing up documents, email, music, photos and other PC files on a continuous basis or according to the schedule of the user's choice. The company is headquartered in Palm Desert, California.
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