SOURCE: DepotPoint

May 15, 2007 09:00 ET

DepotPoint Welcomes Ex-Chairman and CEO of Saraide and VeriFone to Its Board of Directors

Current Executive Chairman of Bytemobile, Hatim Tyabji, Joins Company's Board to Strategically Support Nationwide Growth of Its Web-Based Foreclosure Solutions

BELLEVUE, WA -- (MARKET WIRE) -- May 15, 2007 -- DepotPoint (www.depotpoint.com), a company that is changing the landscape of processing foreclosures, today announced that Hatim Tyabji has joined the company's board of directors. DepotPoint will join the ranks of Best Buy, Datacard Group, eFunds and other notable companies that benefit from Mr. Tyabji's technology expertise and acknowledged aptitude as an incredibly successful leader.

"DepotPoint is at an exciting stage in its growth and is well positioned to become the leading provider of foreclosure solutions to this rapidly growing marketplace," said Mr. Tyabji. "The company's talented leadership team, combined with its experience in profitable technology presented a unique opportunity that aligned well with my own interests. I'm looking forward to being an instrumental advisor in such a promising organization."

"Hatim Tyabji is known in the industry for his remarkable technology vision and renowned leadership skills," said Prakash Kondepudi, CEO of DepotPoint. "We are thrilled that he has joined our board and are fortunate to have his strategic guidance. His expertise and years of service on the boards of other noteworthy companies give us a competitive advantage and support our focused goals for aggressive expansion."

While chairman and CEO of VeriFone, Mr. Tyabji was responsible for a 5000% growth in market capitalization -- from $30 million to approximately $1.5 billion. He also created the world's first virtually run company long before the advent of the Internet and pioneered organizational concepts, which are documented in two Harvard Business School cases. Mr. Tyabji has gained recognition for his unique leadership style and innovation, receiving The Academy of Management Distinguished Executive of the Year Award for Excellence in Strategic Leadership; the Point of Sale (POS) Industry's Lifetime Achievement Award; and the Silicon India Lifetime Achievement Award for Excellence in Business and Technology.

About DepotPoint

Headquartered in Bellevue, Washington, DepotPoint is bringing new efficiencies to the foreclosure markets, which aim to improve the management of real estate portfolios that are in default. The company’s TrackPoint Application Suite offers a range of Web-based innovations that help the entire lending ecosystem mitigate risk, accelerate the sale of foreclosed property, and improve visibility across the entire foreclosure process. DepotPoint’s marketplace solution, ForeclosurePoint.com, increases the exposure of foreclosure properties and provides tools and resources for real estate agents, real estate investors and home buyers to assist in the acquisition of these properties. The company is privately held and was founded by technology veterans from Microsoft, InfoSpace, and experienced trustees from national foreclosure firms. For more information about the company and its products, call 1-866-841-5641 or visit www.depotpoint.com.

Contact Information

  • Media Contacts:
    Robert Nachbar
    REVOLUTION PR for DepotPoint
    206-427-0389
    Email Contact

    Jennifer Karkar Ritchie
    REVOLUTION PR for DepotPoint
    206-932-2454
    Email Contact