Elastic Path CEO named to Top Forty under 40 award

Elastic Path CEO named to Top Forty under 40 award

Award recognizes the Vancouver business elite

Vancouver, BC, Canada, January 13, 2009 -- Elastic Path Software, a leading ecommerce platform provider for enterprises, announced CEO Harry Chemko was named to Business in Vancouver's Top Forty under 40 award. This prestigious annual list recognizes the outstanding accomplishments of 40 top business leaders under the age of 40. An independent judging panel selected the winners based on their professional accomplishments, leadership, and community involvement.

Harry Chemko founded Elastic Path Software with current vice-presidents Mark Williams and Jason Billingsley in 2000. The beginning was marked by hard work and perseverance by the trio to build the company during the dot-com bust. The young CEO even had to take a full-time job as a technical support staffer at an Internet service firm for a short time.

Chemko and his co-founders were very deliberate with their growth strategy and scaled the company according to revenue growth. The only outside investment that Elastic Path received was a $15,000 startup loan from the Canadian Youth Business Foundation (CYBF), a non-profit organization that mentors and finances companies started by Canadians aged 18 to 24. Chemko continues to give back to the community and mentor young entrepreneurs by serving as a director on the CYBF board.

"It's an honor to be included on such an illustrious list. We've been able to maintain the same level of intensity and passion from just three guys to our strong team of over 100 today. I look forward to continuing our momentum and leading the company towards its next big challenge," said Harry Chemko, CEO, Elastic Path Software.

Elastic Path had annual revenue of $9 million in 2008 and boasts more than 200 clients including major brands such as Aeroplan, Time Inc, Nike Bauer, and Samsonite. The company has found growing success with Elastic Path Commerce 6.1, a flexible ecommerce platform that gives enterprises the capabilities and control to deliver innovation in a complex environment.

"Forty under 40 is Business in Vancouver's unique recognition of the style, energy, and initiative of B.C.'s next generation of entrepreneurs. We're proud to be celebrating the accomplishments of these business leaders and the positive impact they've had on the community," said Timothy Renshaw, Editor, Business in Vancouver.

Mr. Chemko and other recipients of the 2008 Top Forty under 40 Award will be recognized at a gala reception on February 10, 2009.

About Elastic Path Software
Elastic Path Software provides a flexible ecommerce platform that gives enterprises the capabilities and control to deliver innovation in a complex environment. The Java-based platform enables integration with SOA environments and rapid development of custom features. Enterprises can now quickly adapt ecommerce tactics to gain a competitive advantage. Companies such as Aeroplan, Time Inc, and Samsonite use Elastic Path for maximum control over their evolving online stores. For more information, please visit https://www.elasticpath.com.