Press Release

Business Wire  –  Thu Jul 08 08:17:00 CDT 2010

Zong Expands Executive Team across Business and Technology Divisions with New Hires Elena Krasnoperova, Stephane Kasriel, Sandy Taylor and Tim Armandpour

Zong Attracts Seasoned Payments and Mobile Veterans to Bolster its Expansion

MENLO PARK, Calif. (BUSINESS WIRE) --

Zong (www.zong.com), the leading mobile payment service used by online gaming and social networking websites, announced today it has appointed Elena Krasnoperova as VP, Analytics and Fraud Management, Stephane Kasriel as VP, Sales and Business Development, Sandy Taylor as VP, Finance and Tim Armandpour as VP, Engineering. These new positions have been created to support Zong’s global expansion and its expectations for exponential revenue growth.

Elena Krasnoperova joins Zong with over 15 years of analytics, fraud and risk management experience as VP, Analytics and Fraud Management. Recognizing the critical importance of fraud management, Zong has added Krasnoperova to lead a growing team focused on security and privacy as Zong continues to expand and develop products. After an early career at Boston Consulting Group, Krasnoperova spent 7 years at eBay and PayPal, where she built and managed the Marketplaces Strategy team, the PayPal Business Analytics team, and held a variety of leadership roles in PayPal’s Global Risk Management organization. Krasnoperova has a successful track record of enhancing e-commerce profits by implementing data-driven strategies and applying her knowledge of risk management, and brings this experience to Zong during a crucial growth period for the company.

With over 6 years of strategy, business and new product development experience at PayPal, Stephane Kasriel joins Zong as VP, Sales and Business Development. Most recently, Kasriel ran PayPal’s Consumer Products division where he launched award-winning products and dramatically accelerated the growth of existing, mature products. Prior to this, Kasriel was the Managing Director for PayPal France, where he took the business from its infancy to being a very significant contributor to PayPal’s global P&L.

Sandy Taylor, previously Director of Strategy and Business Performance Management for Premium Mobile Experiences at Microsoft, joins Zong as VP, Finance. With over 15 years of experience in the software industry Taylor’s earlier roles include Vice President of Finance and Chief Accounting Officer at Danger, Inc., developer of the Sidekick™ smartphone, Vice President of Finance and Operations at Respond Networks, a lead management company and Director of Finance and Strategic Planning at Oracle Corporation.

As VP, Engineering, Tim Armandpour brings over 12 years of software engineering and executive management experience with him to Zong and is responsible for leading global software development efforts across Zong’s applications, device platforms and infrastructure. Prior to joining Zong, Armandpour was VP, Engineering at SendMe, Inc., a recognized leader in mobile entertainment content in the U.S., and helped SendMe achieve annual revenues north of $120 million. Additionally, Armandpour spent 7 years at Yodlee, Inc., a leading personal finance and payments management solutions provider and an early pioneer of data aggregation in the financial space, as the Sr. Director of Engineering in charge of product development for their Bill Pay and Funds Transfer solutions.

“Elena, Stephane, Sandy and Tim have clearly demonstrated their deep understanding of payment and mobile technology, and will be critical leaders at Zong as we continue to develop our technology, business and network of partners,” said David Marcus, founder and CEO, Zong. “By expanding our executive team with such incredible talent we are positioned for growth and primed to continue to deliver the most valuable mobile payment solution available.”

The new hires follow Zong’s most recent $15 million funding round with Matrix Partners and the addition of Dana Stalder, General Partner of Matrix Partners, to Zong’s board of directors.

About Zong

Zong is the leading mobile payments platform for sellers of digital goods and services. Its frictionless payment experience converts shoppers into buyers at rates up to 10 times greater than traditional payment methods. Zong leverages direct connections with mobile network operators around the world to provide a secure payment solution with unrivaled connectivity and service quality. Zong is the mobile payment provider for Facebook Credits and also works with hundreds of leading destination sites, such as Gaia Online, IMVU and Playdom. Reaching over 2 billion mobile users, Zong provides localized payment capabilities in over 30 countries in 16 languages. Zong is the only mobile payments platform that combines the high conversion rates of carrier billing with the low costs and flexibility of payment card networks. Zong is based in Menlo Park with offices in Paris and Geneva, and is backed by Matrix Partners, Advent Venture Partners and Newbury Ventures. For more information, please visit www.zong.com.