Foster City, CA - June 22, 2009

Rearden Commerce Names Technology Veteran David Cassady As President and General Manager Of B2B Operations

Rearden Commerce, developer of the leading on-demand platform that helps companies buy and manage services online, announced today that David Cassady has joined the company as President and General Manager of B2B Operations. In this role, Cassady will focus on scaling the company's sales, services, channel, and marketing operations, while developing and maintaining strategic relationships with marquee partners. Cassady is in the position to take Rearden Commerce to the next level; expanding into new markets and deepening its current market share in the travel and procurement sectors.

"I was looking for someone with David's credentials to capitalize on the increasing demand in the personal assistant market, and to take advantage of the significant opportunities being presented to Rearden Commerce," said Patrick Grady, CEO of Rearden Commerce. "From SpikeSource and Virsa Systems to Interwoven, David has a proven track record of leading organizations to grow and scale in a strategic way. We know that he will be a valuable asset as we enter our next phase of growth."

With more than 25 years of operations experience spanning open source, enterprise applications, content management and security, Cassady is a veteran of the technology space. Cassady most recently was Executive Vice President of Operations at SpikeSource, where he was responsible for worldwide sales, channel programs, marketing and business development. Cassady was integral in the establishment of the SpikeSource partner ecosystem, including the formation and nurturing of the company's strategic relationship with Intel. Prior to Spike Source, David was Senior Vice President of Worldwide Operations for Virsa Systems, where he was instrumental in rapidly growing their direct and channel revenues, leading to a very successful acquisition by SAP.

Earlier in Cassady's career, he served as Vice President of the Americas at Interwoven, where he played a pivotal role in growing the company's annual sales revenue from $300,000 to $200 million in only three years. Before that, David was Senior Vice President of Worldwide Sales and Services for diCarta. Earlier in his career he held senior sales management positions at Internet Security Systems, Network Associates, and Amdahl. "I was looking to join a company that was growing and leading in its space," said David Cassady. "In Rearden Commerce, I found a team that shares my desire to push the industry forward and make smart choices in a rapidly expanding environment. I look forward to creating synergy across the business areas that Rearden Commerce serves and adding to the company's unwavering commitment to developing its ecosystem, continually raising the bar, and delivering on customer promises."