Spindle Names Brian Sathianathan to Advisory Board
Former Early Key Member of Apple's Secret Products and Accomplished Technology Entrepreneur Joins Spindle Team
SCOTTSDALE, AZ -- (Marketwired) -- 04/25/17 -- Spindle, Inc. (OTCQB: SPDL) ("Spindle" or the "Company"), an emerging provider of comprehensive digital commerce solutions, today announced that Brian Sathianathan has joined the Company's advisory board.
Sathianathan is an accomplished technology entrepreneur and investor well known in the Venture Capital community. From 2001-2008, he worked at Apple where he became one of the early key members of Apple's Secret Products working on the iPhone. After architecting and building their internal enterprise platforms and security applications, he moved into the consumer product area and led software development teams at Apple's Secret Product (NPI) group for a few years. His team worked on the first iPhone's security and provisioning system that outlasted against device unlock attacks.
After leaving Apple, he was the Founder & President of Avot Media which enabled streaming video into a wide variety of mobile smartphones and tablets, where he oversaw both local and international revenue growth, resulting in a sale to publicly traded Smith Micro.
In 2011, he joined Turner Broadcasting, and helped start its Media Camp, Turner's startup incubator that focused on investing in and developing digital-media startups. During his tenure, the group engaged on the business side resulting in 13 seed investments into media startups.
In November 2013, he cofounded Iterate.ai (https://www.iterate.ai/), an innovation lab for emerging technologies. Iterate discovers and curates emerging technologies, then implements proof-of-concept tests (a.k.a. proof-of-value tests) for a global partner base. Close partners include a few dozen large companies representing beauty, media, accessories and apparel, DIY, and footwear categories representing $600 billion in revenue. For large companies, Iterate reduces the time, costs and risks associated with analyzing and deploying innovative startup technologies. At the same time, startups get special visibility and credibility.
Brian Sathianathan stated, "I'm excited to join the Spindle team at what I believe is an opportunistic time. Having just completed the sale of my company CoverCake, I have a strong vested interest, along with Spindle management, in our collective success. I firmly believe that the combination of the strengths of the CoverCake machine intelligence and backend solutions will dramatically enhance both data procuration and refinement for the CATALYST Platform. This is as a very positive and tangible step towards the mutual creation of a powerful and disruptive digital commerce engine that should provide enhanced marketing tools for CATALYST's internal programs and their merchants alike, driving revenue for both."
Spindle Interim Chief Executive Officer Dr. Jack Scott stated, "I'm extremely pleased to welcome Brian to the Spindle team. I'm a big believer that a company's value can be best measured by the quality of its people. Brian is not only a highly accomplished and well regarded technology innovator, but he is a consummate professional. I expect his addition to be the first of what should be more to come, all of whom will share the common goal of value creation."
Scott concluded, "As one of the company's largest investors, I think it should be abundantly clear that my goals are directly aligned with those of our shareholders. I also appreciate the importance of corporate transparency in terms of communicating with investors, with a full understanding of what it was like for me as an early shareholder looking from the outside in. With this in mind, and on the heels of having just filed our 2016 Form 10K, I am currently working on a communication to advise you of recent progress. In the meantime, our team remains focused on the company's underlying fundamentals, which I believe have been improved with the addition of CoverCake to our digital marketing arsenal, and Brian Sathianathan to our Advisory Board."
Spindle is an innovator of merchant and consumer-facing commerce solutions focused on the Small and Medium-sized Business (SMB) market. The CATALYST Marketing System components and CATALYST IP were included in the asset acquisition from Catalyst Business Development, Inc. which Spindle, Inc. completed in 2015. It is focused on payment processing services and integrating value-added capabilities that enhance merchant revenue and increase consumer loyalty, experience, and stickiness. Spindle is taking a unique approach to orchestrating commerce transactions of all types by leveraging best-in-class technology, multiple solutions for vertical markets, and a deeply experienced payments management team to define and drive the way commerce transactions will be performed in the future. This commerce experience will be independent of mechanism, unifying a consumer's experience across all platforms (mobile, browser, kiosk, etc.), taking today's solutions to a new level via technology integrations and strategic partnerships. For more information, visit www.spindle.com.
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements, as described in our reports filed with the Securities and Exchange Commission which are available for review at www.sec.gov, to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
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Source: Spindle, Inc.
Released April 25, 2017