Channel Velocity Inc. Secures Initial Funding 
Despite tough investment climate, ChannelVelocity bucks nationwide difficulties in sourcing capital to launch a new model for liquidating merchandise.
Chicago, IL – April 2, 2003 – ChannelVelocity Inc., a leading provider of enterprise auction management services, announced today they have secured an initial round of funding from private investors. The Company will use resources to expand operations in Chicago, IL and Atlanta, GA in order to service several new clients. ChannelVelocity’s comprehensive online auction and ecommerce management services assist other enterprise companies in liquidating off-lease, returned or overstock products directly to end consumers. The Company’s innovative services bypass traditional and risky asset recovery models to create new revenue streams from product that would have otherwise been destroyed or liquidated for pennies on the dollar. “We are pleased to have such immediate validation of our business model and management team”, said Wes Shepherd, co-founder and Chief Executive Officer of ChannelVelocity, “ChannelVelocity’s online auction management services fill a critical need for large companies in challenging economic times. We can positively impact cost savings in addition to providing new revenue streams.” About ChannelVelocity, Inc. ChannelVelocity is a leading provider of enterprise auction management services for mid and large-sized companies. The Company’s asset recovery solutions for retailers, manufacturers, distributors and financial institutions enable clients to reach end-consumers directly and bypass traditional liquidation channels. This results in high-impact cost savings and new revenue opportunities from excess inventory, returns, off-lease or new merchandise. For more information on ChannelVelocity, contact us at info@channelvelocity.com or on the web at www.channelvelocity.com. For further information email us at press@channelvelocity.com
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