Channel Velocity Closes Private Placement Funding 
Chicago, IL – June 30, 2004 – Channel Velocity Inc. (CV), a leading provider of enterprise auction management solutions, announced today that Channel Velocity’s has closed out its second round of funding through a Private Placement.
Channel Velocity’s funding was a result of the its continued growth of auction management solutions to enterprises using eBay as a channel to sell obsolete, returned, overstock, and even new product introductions. The capital raised will enable CV to build out its fulfillment capabilities, management, staff, and further commercialize it auction management software platform. Channel Velocity’s comprehensive online auction and e-commerce services assist large companies in addressing emerging secondary channels like eBay. For many enterprises this involves selling off-lease, returned or overstocked products directly to end consumers. The Company’s innovative services bypass traditional asset recovery models to create new revenue streams from product that would have otherwise been destroyed or liquidated for pennies on the dollar. Unlike many services, this is done with high regard to mitigating channel conflicts in order to preserve existing relationships. About ChannelVelocity, Inc. Channel Velocity is a leading provider of auction management and asset recovery services for mid and large-sized manufacturers of branded products. The company’s consignment and fulfillment model aligns its interests with its clients to maximize the total dollars recovered on overstocked, refurbished and end-of-life inventory. By reaching end-consumers directly and bypassing traditional liquidation channels, Channel Velocity’s clients achieve demonstrable high-impact cost savings and new revenue opportunities from excess inventory, returns, off-lease or new merchandise. For further information email us at press@channelvelocity.com
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