Zurich, Switzerland – November 17, 2016: Balluun Ltd (“Balluun”), a Swiss based B2B technology company, announced today that Ariel Luedi has agreed to join Balluun’s Board of Directors. In addition, Mr. Luedi has also agreed to invest in Balluun’s current private placement offering of 12% Convertible Loan Note.
“We are delighted that Ariel has agreed to join our Board of Directors,” said Roland Kumin, Balluun’s CEO. “Ariel has shown vision and a remarkable ability to guide growth and value creation in B2B and e-commerce companies over a 20-year career. We believe Ariel will provide tremendous value to our ongoing business initiatives which are focused on increasing Balluun’s value through the expansion of the number of industry domains Balluun serves and the monetization of our existing and future domains.”
“Balluun’s social commerce networks launched through industry specific domains is the B2B of the future, and the company’s existing domains have already positioned it to be a leader in this space,” commented Ariel Luedi. “I am pleased to be joining Balluun’s Board of Directors as the company moves towards a listing on the SIX Exchange.”
Ariel Luedi is a successful visionary entrepreneur who has founded, grown and orchestrated significant shareholder liquidity events at various B2B companies. From 2002 until 2013, as Chief Executive Officer and a major shareholder, Mr. Luedi guided the remarkable European expansion of Hybris Software, an e-commerce and product content management software company. Under his leadership, Hybris’s revenues grew from €3 million in 2005 to €150 million in 2013. On August 1, 2013, Mr. Luedi orchestrated a significant liquidity event for his shareholders by completing Hybris’ sale to SAP SE (a NYSE listed German multi-national) for $1.5 billion.
Prior to joining Hybris, Mr. Luedi served as SVP of Salesforce.com’s European sales organization and held executive positions at Oracle and IBM. Mr. Luedi is the founder of Hammer Team, a Swiss based start-up incubator which supports early stage B2B software solution companies. He currently serves as the Chairman of the Board of Oxial, a private Swiss governance, risk and compliance software company and is a Board member and investor in various private companies. Born in Switzerland, Mr. Luedi studied Physics at ETH in Zurich and later graduated from the School of Business Administration Zurich. His recent speaking engagements include the Global Webit Congress and the Adobe Digital Marketing Summit EMEA.
Balluun is transforming international B2B wholesale commerce by launching industry specific social commerce networks (“Domains”) that enable wholesale suppliers, manufacturers, exporters, retailers, buyers and importers to discover, connect, post and exchange relevant information while facilitating an efficient buying and selling process among industry members. With over 40,000 existing members across five different Domains, the Balluun365 platform is a proven SaaS technology built with a universal and scalable cloud-to-mobile architecture. Balluun subscription model is focused on strategic partnerships to create highly engaged and industry specific marketplace which allows cost effectively marketing and assures that each domain launches with a significant number of industry members. For further information, please visit www.balluun.com.
This communication expressly or implicitly contains certain forward-looking statements concerning Balluun Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Balluun Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Balluun Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of article 652a or article 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. Investors must rely on their own evaluation of Balluun Ltd and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of Balluun Ltd.