Here is the news release regarding Revolution Money. I am pleased to say that I am both chairman of and an investor in this new company and I have high hopes for it. It is yet another example of how Web 2.0 technologies and business processes can help to transform an industry to the benefit of consumers.
FOR IMMEDIATE RELEASE
MEDIA CONTACT:Brad Burns202-776-1400brad.burns@revolution.com
REVOLUTION JOINED BY INDUSTRY LEGENDS AND MAJOR BANKS TO LAUNCH REVOLUTIONARY PAYMENT SYSTEM Steve Case, Ted Leonsis, Larry Summers, David Pottruck, Russell Hogg and others form and invest in company to transform payment industry New company to be called Revolution Money; Internet pioneer Leonsis named Chairman
New Internet-based payment system with innovative credit card drastically alters economics of the industry, generating significant consumer benefits and higher level of security; saves merchants and online store owners on rising interchange fees
Company first to combine the power of free online money transfer with credit and pre-paid in one integrated offering
WASHINGTON, September 24, 2007