BUY.COM® APPOINTS NEEL GROVER CEO
Scott Blum to Remain Chairman of the Board
ALISO VIEJO, Calif., May 23, 2006 - Buy.com (www.buy.com) today announced that Neel Grover was appointed as the Chief Executive Officer of Buy.com effective May 19, 2006. Mr. Grover has served Buy.com as a member of the Board of Directors since November 2001, as its President since September 2003, and as its Chief Operating Officer since October 2004.
Scott Blum, Buy.com's founder, who has been the Chairman of the Board of Directors and Chief Executive Officer since he took the company private in 2001, will remain as Chairman of the Board and continue to be closely involved with the company's strategic initiatives.
"The official transition of this position is consistent with the primary roles between me and Neel. I have focused my time on identifying strategic opportunities in the convergence of Internet retail, media and advertising (including our recent launch of BuyTV), while Neel has led our business and corporate strategy and has been running the day to day operations of the company," said Scott Blum.
Buy.com is a leading e-commerce company focused on providing its customers with a positive shopping experience and a broad selection of high-quality technology and entertainment retail goods at competitive prices. Buy.com offers over 2 million products in a range of categories including consumer electronics, computer hardware and software, cell phones, books, music, videos, games, digital music downloads, toys and sporting goods. Individuals and businesses can shop quickly and easily at Buy.com 24 hours a day, 7 days a week. Buy.com, founded in June of 1997, is located in Aliso Viejo, California. Buy.com® and The Internet SuperstoreTM are trademarks of Buy.com Inc.
This news release contains forward-looking statements that are based on our current beliefs and assumptions and on information currently available to our management. In some cases, you can identify forward-looking statements by terms such as "anticipates," "believes," "expects," "intends," "plans," "proposed," "should," "will," and similar expressions intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These forward-looking statements represent beliefs and assumptions only as of the date of this news release, and we assume no obligation to update these forward-looking statements publicly, even if new information becomes available in the future.
For media inquiries, contact:
Carrie Altuvilla Gilmore
Thinkbig Media for Buy.com