Firm58 Taps Seasoned SaaS Industry Veteran to Dramatically Scale Business

3 March 2008

Firm58, a leading SaaS provider for Capital Markets companies announced that Curt J. Witte has joined the company as CEO and President to drive a dramatic scaling of the business. Founder Sam Mele will assume the role of SVP of Sales and Marketing, and Managing Director International, leading the expansion of the domestic and international sales, marketing and business development capabilities.

Mr. Witte has a proven track record in communications and software industries with over 20 years of experience, from scaling start-up ventures by over 14x, to running $10 billion Fortune 50 lines of business, with specific experience in strategy, marketing, sales, product management, finance and business development. Mr. Witte has held senior management positions at leading companies including: AT&T, Cardinal Health, Lexington Financial Partners, CommSoft Partners LLC, and Peopleclick. Mr. Witte graduated from the University of Chicago with a degree in Economics and was a Rothschild Scholar at the J.L. Kellogg Graduate School of Management at Northwestern University where he received an MBA.

"At this point, Firm58 is poised to dramatically increase the scope of their business. Mr. Witte's wealth of experience in successfully running large, complex, billion dollar technology operations, coupled with dramatic results in building similar VC backed SaaS businesses is exactly what is needed to take this business to the next level," commented, Adam Koopersmith, principal of New World Ventures, Firm58's lead investor.

"Firm58 has made enormous strides in leveraging new SaaS technology to build a scalable infrastructure, and attract a solid group of flagship clients. Firm58 is now perfectly positioned to leverage these components to dramatically scale the business. I have seen this circumstance before, and know what it takes to move to the next level,” said Curt J. Witte, CEO and President.

Trading firms, broker/dealer(s), market places and prime brokers can all benefit by leveraging Firm58's services to optimize critical operations, drive customer acquisition and retention, while simultaneously minimizing cost. Faced with increased competition, rising costs and aging technology, financial companies stand to benefit from Firm58's software solutions by merging all post-trade activities to one assetindependent web-based platform.

With deployments at some of the world's leading proprietary trading firms, daytrading firms and financial exchanges, Firm58 intends to continue to invest in augmenting its existing offerings, and scaling the business to meet the needs of its growing list of clients, extending its leadership position as an on-demand technology provider to the capital markets.

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