Tradebit AG Names Paul L. Sterne to Board of Directors / Aufsichtsrat
Tradebit AG adds financial executive to Board of Directors
Frankfurt, Germany. May 14, 2010: Tradebit AG is pleased to announce that
Paul L. Sterne has been named to its Aufsichtsrat or Board of Directors.
Mr. Sterne has been active in the information technology industry
for 25 years as an executive, M&A advisor and angel investor.
Currently, he is the Managing Partner of Sterne & Co. LLC (www.sterneco.com),
an M&A boutique specializing in the global IT industry. Sterne & Co. LLC
represents investors and entrepreneurs in the United States, European Union
and the former Soviet Union. Paul is a seed investor in and contributing
author to Groundreport LLC, a leading citizen journalism blog site
He is an angel investor and, during its start-up phase, was the
CFO/General Manager Americas, Open-Xchange Inc., the leading independent
software vendor of Open Source groupware for the SaaS and web site
hosting industries (www.open-xchange.com); he was Founder and CFO,
E2open, Inc., the leading supply chain collaboration hub for the
electronics industry (www.e2open.com).
In the 1990’s Paul led the global M&A activity of IBM Corporation
as Managing Director, Corporate Development in Armonk, New York;
previously he was Director, M&A Advisory Services, Deutsche Bank AG;
and Director, Business Development, New York Treasurer's Office,
General Motors Corporation.
Paul has a Bachelor of Arts and Master of Business Administration from
“We welcome Paul to the Board. Having known him for more than 20 years,
I know that he will make a significant contribution to the success of
Tradebit AG. In the first four months of 2010, Tradebit.com again
posted rapid growth. It achieved new records in terms of unique visitors,
gross revenue and profit margin. It expanded its music offerings
through distribution partnerships with 7Digital for MP3 downloads and
Sunfly Karaoke for karaoke files.
Mr. Sterne’s experience with start-ups and their financial management will
help Tradebit AG to form new relationships and stay on its growth trajectory,”
said Dr. Stephan Hess, Chairman of Tradebit AG’s Board of Director.
Tradebit hosts over 20,000 digital merchants selling over
10 million products to consumers all over the world.
Its e-commerce platform offers merchants and affiliate
promoters a way to earn a living – the most successful
earn more than $100,000 per year.
Based on self-service, micro-payment technology,
Tradebit fully automates the e-commerce process
from content upload and merchandising to payment
and customer service. Tradebit.com has grown more
than 100% per year since its inception in 2005 and
is one of the top 2,000 web sites in the world
according to Quantcast.com.
US Media Contact: Paul Sterne, sterne (a) sterneco.com
With offices in both the US and Germany, Tradebit offers sites in English,
German (Tradebit.de), Italian (Tradebit.it) and Spanish (Tradebit.es).