CommerceTel, a San DIego based mobile marketing company, announced today that David Jaques has agreed to join its board of directors and to serve as chair of its audit committee. Jaques was formerly the CFO of BlueRun Ventures and before that he served as CFO of PayPal.
CommerceTel Corporation, an award-winning provider of proprietary mobile marketing technologies and solutions, is pleased to announce David Jaques has agreed to join to its Board of Directors and serve as Chair of the Company’s Audit Committee. Jaques’ appointment will begin December 1st, 2011.
For the last two decades, David has provided financial expertise to private equity firms, startup companies and financial institutions. David was the CFO for BlueRun Ventures, the former venture fund of Nokia Corporation, where he created the financial and administrative infrastructure for the venture capital partnership. Under his leadership, assets under management increased from $150 million to $1 billion in six years.
Prior to BlueRun, David was the CFO of PayPal. There, he established the company’s financial planning and accounting processes, was instrumental in raising three rounds of private equity financing totaling $140 million, and coordinated the merger of PayPal, Inc. with X.com Corporation which resulted in a $680 million valuation.
“My career in and around Silicon Valley has exposed me to the epicenter of the technology industry, and the rapid evolution of the mobile industry is unprecedented,” stated Mr. Jaques. “CommerceTel’s unique technology, strategy, and execution have attracted my participation at a material level and I’m very excited to leverage my background in supporting the Company’s exciting growth.”
“Attracting a Director of David’s caliber to lead the financial oversight of our Company at the Board level is a big testament to our growing success,” said Dennis Becker, CommerceTel CEO. “Mr. Jaques’ experience speaks for itself, and his participation on our Board exemplifies our goal of implementing world class leadership at all levels of our organization.”
Before PayPal, David was a Senior VP at Silicon Valley Bank, and held various senior positions at Barclays Bank PLC. Mr. Jaques has a Higher National Diploma (HND) in Business Administration from Polytechnic of the South Bank, London, England. He is also an Associate of the Institute of Bankers (United Kingdom) and a member of the Association of Financial Professionals.
For more information, please visit http://www.commercetel.com
CommerceTel is an award-winning provider of proprietary mobile marketing technologies and the inventor of C4, a unique, enterprise-grade platform empowering brands to engage mobile consumers via multiple channels. The only system of its kind, C4 is a cloud-based solution providing broad mobile communications and extensive CRM features. It is integrated with multiple tier-one PSTN/ IP carriers and micropayment processing facilities as well as with carrier premium SMS billing systems.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”). Statements including words such as “seek,” “intend,” “believe,” “plan,” “estimate,” “expect,” “anticipate” and other similar expressions are forward-looking statements within the meaning of the Act. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the impact of intense competition, the continuation or worsening of current economic conditions and the condition of the domestic and global credit and capital markets as well as the Risk Factors disclosed in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on December 27, 2010. Further information on CommerceTel’s risk factors is contained in its filings with the Securities and Exchange Commission. CommerceTel does not undertake any duty nor does it intend to update the results of these forward-looking statements.