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Rainmaker Systems Appoints Former PayPal CTO Chuck Geiger To Board Of Directors

Stocks in this article: RMKR

CAMPBELL, Calif., June 16, 2011 /PRNewswire/ -- Rainmaker Systems, Inc. (NASDAQ: RMKR), a leading global provider of B2B e-commerce solutions that drive online sales and renewals for products, subscriptions and training for clients and their channel partners, today announced it has appointed Chuck Geiger to its Board of Directors, effective today. Mr. Geiger is currently Chief Technology Officer at Chegg, the number one textbook rental company.  Mr. Geiger's appointment brings the total number of Rainmaker board members to seven.

Mr. Geiger brings more than 20 years of experience running technology and product organization sat some of the largest online e-commerce sites in the world, including serving as Chief Technology Officer at PayPal, Ask.com, and Wine.com, as well as VP of Product Development at eBay and other senior-level positions at Travelocity and Texas Instruments.  

Michael Silton, Rainmaker's CEO, commented, "Chuck brings a strong technical background and significant e-commerce experience and expertise to our Board, and he will be a valuable asset as Rainmaker creates a leadership position in B2B e-commerce."

Rainmaker is focused on enhancing incremental revenue at all stages in the B2B e-commerce buying cycle. The convenience, simplicity and immediacy of buying online that consumers are experiencing on their personal devices is driving the expectations of business customers and significantly increasing the demand for streamlined online B2B transactions.

The Rainmaker cloud-based e-commerce solution enables companies to deliver this "app-store" like experience to business customers enabling them to buy products in the same way business buyers expect to buy online today, regardless of how complicated the configuration or pricing. The solution can accommodate traditional business buying process needs such as trials, quotes and placing an order by corporate credit card or purchase order. Business customers expect this simplified buying process whether they are in Singapore, New York, Rio or London.

About Rainmaker

Rainmaker Systems, Inc. is a leading global provider of B2B e-commerce solutions that drive online sales and renewal for products, subscriptions and training for our clients and their channel partners. Rainmaker provides these solutions on a consistent, global basis supporting multiple payment methods, currencies and language capabilities. For more information, visit http://www.rainmakersystems.com or call 800-631-1545.

NOTE: Rainmaker Systems, the Rainmaker logo, are registered with the U.S. Patent and Trademark Office. All other service marks or trademarks are the property of their respective owners.

This press release contains forward-looking statements regarding future events. These forward-looking statements are based on information available to Rainmaker as of this date and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance, and actual results could differ materially from current expectations. Among the important factors which could cause actual results to differ materially from those in the forward-looking statements are our client concentration, as we depend on a small number of clients for a significant percentage of our revenue, the possibility of the discontinuation and/or realignment of some client relationships, general market conditions, the current difficult macro-economic environment and its impact on our business, as our clients are reducing their overall marketing spending and our clients' customers are reducing their purchase of services contracts, the high degree of uncertainty and our limited visibility due to economic conditions, our ability to execute our business strategy, our ability to integrate acquisitions without disruption to our business, the effectiveness of our sales team and approach, our ability to target, analyze and forecast the revenue to be derived from a client and the costs associated with providing services to that client, the date during the course of a calendar year that a new client is acquired, the length of the integration cycle for new clients and the timing of revenues and costs associated therewith, our ability to expand our channel hosted contract solution and drive adoption of this solution by resellers, potential competition in the marketplace, the ability to retain and attract employees, market acceptance of our service programs and pricing options, our ability to maintain our existing technology platform and to deploy new technology, our ability to sign new clients and control expenses, and the financial condition of our clients' businesses, our ability to raise additional equity or debt financing, and other factors detailed in the Company's filings with the Securities and Exchange Commission, including our filings on Forms 10-K and 10-Q.

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