Rainmaker Names James Chung as Chief Technology Officer

CAMPBELL, Calif., Dec. 15, 2011 /PRNewswire/ -- Rainmaker Systems, Inc. (NASDAQ: RMKR), a leading global provider of B2B e-commerce solutions that drive online sales and renewals for products, subscriptions and training for clients and their channel partners, today announced the appointment of James Chung to the newly created position of Chief Technology Officer.

Mr. Chung, a Web technology executive with 18 years of experience in high growth start-ups and Fortune 500 companies, is charged with taking the Rainmaker B2B, SaaS-based e-commerce platform forward while leading and optimizing the company's global IT, Development, Quality Assurance, Product Management, Professional Services and Corporate Security functions.

"As Rainmaker continues its evolution to a leadership position in global B2B e-commerce, we are excited to bring on an experienced e-commerce technology veteran with such extensive experience to lead our technology efforts and to take Rainmaker to the next level as an on demand cloud, SaaS-based company," said Michael Silton CEO and Chairman of Rainmaker Systems. "James brings a strong background in both e-commerce and engineering from leading e-commerce companies including PayPal and Intuit."

Mr. Chung's career covers a blend of IT, engineering and e-commerce with technology leadership experience at companies such as PayPal, Apple and most recently, Intuit. Mr. Chung studied Industrial and Systems Engineering from San Jose State University and received a B.S. in Management Information Systems from the University of Phoenix.

Rainmaker is focused on enhancing incremental revenue at all stages of the B2B e-commerce buying cycle. Many companies are working with multiple vendors or internal solutions that lack integration to support their global sales efforts. This results in lost revenue opportunities. Rainmaker's distinct advantage is its simple, integrated, global solution. An additional benefit of the Rainmaker solution is Rainmaker's commitment to become a partner, not simply a vendor, able to turn basic customer contact points into revenue generating opportunities while simplifying otherwise complex sales and marketing needs to drive global revenue growth.

To learn more about the Rainmaker e-commerce platform, visit us at http://www.rainmakersystems.com.

About Rainmaker

Rainmaker Systems, Inc. is a leading global provider of B2B e-commerce solutions that drive online sales and renewal for products, subscriptions and training for our clients and their channel partners. Rainmaker provides these solutions on a consistent, global basis supporting multiple payment methods, currencies and language capabilities. For more information, visit http://www.rainmakersystems.com or call 800-631-1545.

NOTE: Rainmaker Systems, the Rainmaker logo, are registered with the U.S. Patent and Trademark Office. All other service marks or trademarks are the property of their respective owners.

This press release contains forward-looking statements regarding future events. These forward-looking statements are based on information available to Rainmaker as of this date and we assume no obligation to update any such forward-looking statements. These statements are not guarantees of future performance, and actual results could differ materially from current expectations. Among the important factors which could cause actual results to differ materially from those in the forward-looking statements are our client concentration, as we depend on a small number of clients for a significant percentage of our revenue, the possibility of the discontinuation and/or realignment of some client relationships, general market conditions, the current difficult macro-economic environment and its impact on our business, as our clients are reducing their overall marketing spending and our clients' customers are reducing their purchase of services contracts, the high degree of uncertainty and our limited visibility due to economic conditions, our ability to execute our business strategy, our ability to integrate acquisitions without disruption to our business, the effectiveness of our sales team and approach, our ability to target, analyze and forecast the revenue to be derived from a client and the costs associated with providing services to that client, the date during the course of a calendar year that a new client is acquired, the length of the integration cycle for new clients and the timing of revenues and costs associated therewith, our ability to expand our channel hosted contract solution and drive adoption of this solution by resellers, potential competition in the marketplace, the ability to retain and attract employees, market acceptance of our service programs and pricing options, our ability to maintain our existing technology platform and to deploy new technology, our ability to sign new clients and control expenses, and the financial condition of our clients' businesses, our ability to raise additional equity or debt financing, and other factors detailed in the Company's filings with the Securities and Exchange Commission, including our filings on Forms 10-K and 10-Q. 
 

SOURCE Rainmaker Systems, Inc.

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