SANTA CLARA, CA– May 11, 2009– PlaySpan™, the leader in monetization solutions for online games, virtual worlds, and social networks, today announced that Founder&CEO Karl Mehta is a finalist for the Ernst&Young Entrepreneur Of The Year® 2009 Award in the Northern California. According to Ernst&Young LLP, the awards program recognizes entrepreneurs who demonstrate extraordinary success in the areas of innovation, financial performance, and personal commitment to their businesses and communities. Mr. Mehta was selected as a finalist from nearly 110 nominations by a panel of independent judges. Award recipients will be announced at a special gala event on June 13, 2009 at The San Jose Fairmont.
PlaySpan’s patent-pending in-game virtual goods commerce and micropayment platform enables game publishers and developers to generate new revenues, acquire new users, and extend the loyalty of existing users. PlaySpan also offers global payment solutions through its subsidiary PayByCash® with 80 payment methods in 180 countries and ULTIMATE GAME CARD® available for 300 games in over 21,000 retail locations across North America and thousands more in several key markets worldwide. In recent weeks, PlaySpan acquired Spare Change©, the leader in social network payment solutions, and formalized an agreement with hi5, the third largest social network, to power micropayment services for its 62 million-member community.
"It is a deeply gratifying experience to get selected for this honor, especially in Silicon Valley, which has a high concentration of brilliant entrepreneurs," said Karl Mehta, Founder&CEO of PlaySpan, Inc. "PlaySpan is a very inspiring entrepreneurial story as we continue to democratize opportunities for thousands of developers and virtual world users to transact and monetize to become entrepreneurs."
The Ernst&Young Entrepreneur Of The Year awards program celebrates its 23rd anniversary this year. The program has expanded to recognize business leaders in over 135 cities in 50 countries throughout the world.
Founded and produced by Ernst&Young LLP, the Entrepreneur Of The Year awards are pleased to have the Ewing Marion Kauffman Foundation and SAP America as national sponsors.
In Northern California, sponsors include The Big Picture, Scherzer International, Smart Business and The Summit Group.
About PlaySpan, Inc.
PlaySpan™ is the leader in monetization solutions for over 1,000 online games, virtual worlds, and social network applications. PlaySpan's patent-pending in-game virtual goods commerce and micropayment platform enables game publishers and developers to generate new revenues, acquire new users, and extend the loyalty of existing users.
PlaySpan offers global payment solutions through its subsidiary PayByCash® with 80 payment methods in 180 countries and ULTIMATE GAME CARD® available for 300 games in over 21,000 retail locations across North America and thousands more in several key markets worldwide.
Social network payment solutions are available through Spare Change©. Acquired by PlaySpan in April 2009, Spare Change is the first and leading payments platform designed specifically for social networks. Featured on over 700 applications, across Facebook, MySpace and Bebo, Spare Change empowers developers to successfully monetize their applications through micro payments. The Spare Change platform enables users to make safe, convenient, and friendly one-click purchases through a variety of funding sources.
PlaySpan is headquartered in Silicon Valley with offices in Charlottesville, Virginia, Cincinnati, Ohio, and Mumbai. Investors include Easton Capital, Menlo Ventures, STIC and Novel TMT Ventures. The company has recently won the 2009 OnHollywood Category Award for Best Gaming Company.
For more information about PlaySpan, visit http://corp.playspan.com
For more information about Spare Change visit: www.sparechangepayments.com
About Ernst&Young’s Entrepreneur Of The Year® Awards Program
Ernst&Young’s Entrepreneur Of The Year® Award is the world’s most prestigious business award for entrepreneurs. The award makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, the Ernst&Young Entrepreneur Of The Year® award celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 135 cities in 50 countries.
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