AdPay, Inc., Provider of Online Marketplace Solutions for Newspapers, Receives Series A Funding From Appian Ventures and FFP Holdings

AdPay, Inc., Provider of Online Marketplace Solutions for Newspapers, Receives Series A Funding From Appian Ventures and FFP Holdings

Investment to Support Business Expansion, Sales and Marketing Activities

DENVER and HOUSTON, Dec. 13 /PRNewswire/ -- AdPay, Inc., a privately-held company that adds person-to-person and business-to-consumer e-commerce capabilities to newspapers' online classifieds, today announced that it has completed the sale of its Series A Preferred Stock to Appian Ventures, a Denver, Colorado-based investment firm that led the investment round, and FFP Holdings, a closely held, limited partnership based in Houston, Texas.

AdPay is the provider of Click and Buy Classifieds(TM), a full-featured solution that gives newspapers' classified advertisers the ability to enhance their online classifieds with expanded text, photos, and multimedia, as well as providing advertisers the choice of selling items for a fixed price, a negotiated price, or via an auction. Buyers and sellers can also make or receive payments online. In addition, retailers can create online Click and Buy storefronts accessed through the newspapers' web site resulting in a consolidated regional online marketplace for new and used merchandise from private parties and retailers alike. Click and Buy creates new sources of revenue for newspapers, as well as enabling them to counter online competition.

"We've been watching AdPay for many months and have been very impressed with the progress they've made both in terms of expanding their customer base and creating innovative revenue opportunities for their customers," noted Mark Soane, Managing Director, Appian Ventures. "They've demonstrated that market is receptive and the management team has proven its ability to execute," he added.

"AdPay is very pleased to have Appian and FFP Holdings as investors," said Mike Heene, president and CEO of AdPay. "Each organization has already been extremely helpful as we address the challenges of rapid growth. Based on our success in the marketplace we had already accelerated our staffing activities, and with this investment we're now fully-funded to pursue this exciting market opportunity."

About AdPay

AdPay's Click and Buy Classifieds(TM) is a newspaper-branded, Internet-hosted application that integrates with the newspapers web site and classified ad entry and posting systems. Click and Buy's patent-pending technologies add easy-to-use, sophisticated online commerce capabilities to print classified advertisements. AdPay's customers include several of the largest newspapers and media groups in the U.S., such as the St. Petersburg Times, the Denver Newspaper Agency, the San Diego Union-Tribune, the Sacramento Bee, the Houston Chronicle, the Star-Tribune, Minneapolis-St. Paul, MN, the Morning Call, Allentown, PA, and E. W. Scripps Company. For more information please visit www.adpay.com, or call (303) 268-1535.

About Appian Ventures

Appian Ventures is a Colorado-based venture capital firm that invests in software and technology companies that enable "Applied Connectivity" -- the application and management of network connectivity to improve business performance. Appian's practice is to connect with entrepreneurs by treating them respectfully and their ideas thoughtfully. The firm's whole-company investment method sharpens a company's business focus and connects industry resources to help accelerate success. For more information, please visit www.appianvc.com.

About FFP Holdings

FFP Holdings is a closely held limited partnership, based in Houston, Texas, that invests in startup and early stage technology companies, primarily in Texas and Colorado.

For more information, please contact: Dave Rice, EVP, Sales and Marketing of AdPay, Inc., +1-303-268-1535, drice@adpay.com; or Mark M. Soane, Managing Director of Appian Ventures, +1-303-830-2450, mark@appianvc.com; or David A. Bristol, Jr., Vice President of FFP Holdings, +1-713-529-3729.


Source: AdPay, Inc.

CONTACT: Dave Rice, EVP, Sales and Marketing of AdPay, Inc.,
+1-303-268-1535, drice@adpay.com; or Mark M. Soane, Managing Director of
Appian Ventures, +1-303-830-2450, mark@appianvc.com; or David A. Bristol, Jr.,
Vice President of FFP Holdings, +1-713-529-3729

Web site: http://www.appianvc.com/

Web site: http://www.adpay.com/


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