SOURCE: PriceAdvice

PriceAdvice

July 19, 2011 08:15 ET

PriceAdvice Announces Investment From Parent Company iTaggit and Adds Two Power Players to Its Team

With New Funding and Key Executives, PriceAdvice Continues Its March Forward as the Premiere Blue Book for Used Consumer Products

AUSTIN, TX--(Marketwire - Jul 19, 2011) - PriceAdvice, the Blue Book for users looking for prices on used consumer products, will accelerate its growth efforts thanks to an additional investment secured by its parent company iTaggit coupled with the addition of two key executives.

Joining the team is Ira Williams, who has been named President and COO of PriceAdvice, and Hong Bui, who has been named the lead technology advisor. Mr. Bui has also joined the iTaggit Board of Directors. The additional investment round was led by G-51 Capital. These milestone events have catapulted PriceAdvice's introduction as the go-to service for accurate and reliable price valuations of used items purchased online or in stores.

G-51, which is a seed-stage venture capital firm based in Austin, Texas, led the round of funding. With this round of $300,000, iTaggit has raised a total of $500,000 since the beginning of 2011. The company will use the funds to further expand the PriceAdvice sales and marketing team, invest in marketing and business development initiatives and support the company's working capital needs. G-51's investment underscores the market demand for trustworthy pricing information from an objective source.

"Consumers spend over $400B in used consumer products each year, and the majority of purchases are made without adequate pricing information," said Rudy Garza, partner at G-51. "PriceAdvice has stepped out as the market innovator to address this concern, and we see an exciting business opportunity for providing objective and accurate pricing information. We are excited about and look forward to the many expansion opportunities that lie ahead."

"The foundation, business model and team behind PriceAdvice are well grounded to support this high potential, high velocity Blue Book business," continued Garza. "Hong and Ira's respective track records in particular demonstrate the quality and firepower of the executive team."

"The established success of our parent company, iTaggit, and the wealth of experience behind our team of executives makes PriceAdvice poised for significant success," said Ira Williams, president of iTaggit. "Now that we officially launched our first product categories and with more to come, I am enthusiastic about PriceAdvice's future and excited to be a part of the team."

PriceAdvice's recent hires come aboard with impressive backgrounds. Ira Williams brings over 20 years' experience in sales, marketing, project management and business development. He has extensive experience working with new ventures, as well as strategic partnerships and acquisitions for multiple start-up companies. Prior to working with PriceAdvice and after graduating from Harvard Business School, Ira was vice president and general manager of Callaway Golf's global e-commerce and interactive marketing operations. He also led M&A efforts at InterZine Productions and CBS Sportsline, successfully securing strategic elements that drove their respective growth plans. Ira also excelled in sales and marketing positions with Reuters America and with Dell Inc.

Veteran consumer software expert Hong Bui brings over two decades of experience leading and developing technology for top consumer brands such as Amazon.com, Memeo, Visto.com, JavaSoft and Apple that focus on usability and mass market acceptance. While at Amazon, Hong's division was the driver for development of their award-winning consumer shopping experience used by millions each day. His division also helped develop Amazon's platform that has been a model of worldwide scalability. As a co-founder of Visto and with instrumental roles at JavaSoft and Apple, Hong has proven his ability to develop steadfast solutions for consumer technology. Hong is the founder of Memeo which is also financially backed by G-51.

Functioning as a virtual Blue Book for users looking to price any used item, PriceAdvice is designed to educate consumers to make informed online or offline purchase decisions about used products by providing timely, easy-to-use pricing information.

For more information about PriceAdvice, please visit the company's website at www.priceadvice.com

About PriceAdvice
PriceAdvice is a service of iTaggit, Inc., a privately held Internet company founded in 2005 and based in Austin, Texas. With prices from over 3 million transactions, PriceAdvice is the "Blue Book for Everything Else" dedicated to helping consumers make informed online or offline purchasing decisions through its proprietary valuation system. For more information about PriceAdvice, please visit www.priceadvice.com

PriceAdvice is a registered trademark of iTaggit, Inc. All other trademarks mentioned are the property of their respective owners.

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