Palm Beach, FL 3/26/12 (StreetBeat) -- BillMyParents, Inc. (OTCBB: BMPI) announced today that Rob DeSantis, the co-founder of Ariba, Inc. and an early angel investor and board member of LinkedIn, has joined the company's Board of Directors effective immediately."Rob's vision and insight will be invaluable to our company," said Mike McCoy, BillMyParents Chairman and Chief Executive Officer. "We believe his vast experience in growing Ariba and LinkedIn into multi-billion dollar businesses will make a major contribution to BillMyParents' success."
Mr. DeSantis co-founded Ariba, a provider of business to business e-commerce solutions that was one of the first B2B Internet companies to go public, and whose market capitalization reached $40 billion. He was also an early angel investor and board member of LinkedIn, the world's largest professional online network, which has more than 150 million global members today.
"We think Rob DeSantis is an ideal addition to our distinguished Board of Directors, which includes Joe Proto, a payments industry leader who has successfully built and sold two high profile businesses in the card transaction space, and Isaac Blech, who has founded companies which currently have a combined market value in excess of $35 billion," added Mr. McCoy.
Mr. DeSantis stated, "I am excited to join the board of BillMyParents. I see a strong value proposition to users through the technology associated with parental spending controls, instant text alerts and emergency load features. This is currently a manual process between teens and parents that can now be automated giving both teens and adults improved control, visibility and independence at the same time. I see this B2C opportunity as a natural evolution which is very similar to what I was a part of with Ariba. I also see tremendous value in the platform where users benefit from the built-in controls not only with what they buy and how much they spend, but also with whom they choose to share that information. This has the potential to make BillMyParents a leader in the rapidly expanding field of social commerce."
For more information, please visit: www.BillMyParents.com
About BillMyParents
BillMyParents, Inc., the responsible teen spending company, offers a solution for parents who want to help their teens develop smart spending habits. The BillMyParents SpendSmart MasterCard card is the instantly trackable, reloadable MasterCard prepaid card that lets parents and teens track spending in real time. Features include the ability to instantly lock, unlock and reload the card at any time; text alerts to parents and teens showing real-time transaction details with each purchase; and the freedom and security of a MasterCard prepaid card without the risk of overdrafts, accruing debt or affecting credit scores. BillMyParents provides parents with a modern way to help teach their teens financial responsibility, when it counts.
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