SOURCE: buySAFE

June 16, 2005 08:30 ET

buySAFE, Inc. Adds Rob Kodey as VP, Technology

Kodey Brings Proven Experience in Implementing Successful Technology Initiatives at Early Stage Companies

ARLINGTON, VA -- (MARKET WIRE) -- June 16, 2005 -- buySAFE, Inc. (www.buysafe.com), the world's leading e-commerce and auction bonding service, announced today that it has appointed Rob Kodey to the position of vice president, technology. In this position, Kodey will lead the technology development for all buySAFE services and oversee the company's strategic technology initiatives.

"buySAFE recently closed on its funding of more than thirteen million dollars, and the company's e-commerce bonding service has surpassed more than $2 billion of product sealed. As we continue to expand at such a rapid rate, we're extremely pleased to have someone with Rob's track record to lead our growing technology team," said Jeff Grass, CEO, buySAFE. "His enthusiasm and experience will help drive the proliferation of our Bonded Shopping™ model, which soon will enable online merchants to bond items wherever they are sold on the Internet."

Prior to buySAFE, Rob was vice president, technology, at Arlington, Va.-based Cyveillance, a leading provider of online risk monitoring and management services for such issues as identity theft, fraud, and other forms of online abuse. While there, he managed a technology operations team of 19, and focused on the rapid growth and evolution of the product portfolio, while maintaining its stability and scalability. Rob's career also includes senior technology positions with two other emerging technology companies, Opion, Inc. and GivingCapital, Inc.

Rob began his career at UBS PaineWebber, Inc., where he was responsible for the design and development of the company's Online Services. While there, he helped build the online customer portal into a strategic platform, and later designed and led the implementation of the company's patent-pending online trading and online account/portfolio management systems. Rob is a graduate of the University at Albany, State University of New York with a combined Bachelor of Science degree in computer science and applied mathematics.

ABOUT buySAFE

buySAFE, Inc. helps to create a safe and stress-free online shopping environment through Bonded Shopping™ -- the only program that qualifies merchants, identifies reputable online businesses with the buySAFE Seal, and uses surety bonds to provide protection for individual buyers from online transaction risks. buySAFE also benefits online merchants by signaling they are a reputable and trustworthy seller, thereby increasing profit opportunities. Items currently bonded with buySAFE are on auction listings on eBay, Overstock.com Auctions and Tias.com. buySAFE is headquartered in Arlington, Virginia.

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