Company Adds New Executive: Senior Vice President of Engineering Igor Tsyganskiy

(San Francisco, CA February 28, 2008) – WideOrbit Inc. continues its aggressive growth path by securing funding from three of the most pre-eminent venture capital firms- Khosla Ventures, Greycroft Partners and Hearst Ventures, the venture arm of the Hearst Corporation- one of the largest media companies in the world. In addition, WideOrbit announced that high profile industry veteran, Igor Tsyganskiy joins as Senior Vice President of Engineering. Igor is working to accelerate the development of new WideOrbit products, the company’s entrance into new markets and its international expansion.

WideOrbit drives the business of Advertising by providing Sales, Traffic and Billing software solutions for the global media industry. WideOrbit’s core software product, WO Traffic, manages more than $10 Billion dollars in advertising revenue and is currently implemented by more than 900 television stations, radio stations, and cable networks, as well as managing advertising for movie theaters, mobile devices, and digital display networks.

Located on opposite coasts, Khosla Ventures and Greycroft are two of the most sought after venture capital firms. Khosla Ventures was formed in 2004 by Vinod Khosla, who was formerly a General Partner at Kleiner Perkins and Founder of Sun Microsystems. Khosla has been labeled the #1 VC by Forbes. Founded in 2001, Greycroft was created by Alan Patricof, Founder of Apax Partners, Worldwide, LP, one of the world’s leading private equity firms. Greycroft Partners is a venture capital partnership formed to invest in promising digital media companies, including both business- and consumer-focused ventures.

“WideOrbit has created one of the most unique and defensible businesses in advertising. As online and offline advertising converges, we expect WideOrbit’s preeminent position to create tremendous value for their clients and investors,” stated David Weiden of Khosla Ventures and member of WideOrbit’s Board of Directors.

“WideOrbit has already established a leadership position in the advertising traffic management market, and is developing exciting new applications that will have a definitive impact on the media industry,” said Dana Settle, of Greycroft Partners.

Hearst Ventures, one of WideOrbit’s existing investors, has also provided additional funding as part of this investment round.

"It’s a great compliment to receive funding from three such highly regarded investors. This additional funding will support our efforts to aggressively develop new software solutions to benefit our customers and allow us to continue to expand both domestically and in international markets,” stated Eric Mathewson, Founder and CEO of WideOrbit.

New Executive

Igor Tsyganskiy comes to WideOrbit from SAP where he spent more than a decade, and most recently held the position as Head of the Advanced Technology Group. Igor will work closely with WideOrbit’s development teams where he will apply his expertise in business process automation and optimization, enterprise system design, analytics and decision control systems, and internet security and traffic analysis. Igor will be aggressively growing WideOrbit’s product development team in order to support its rapidly expanding customer base, ensure continued industry-leading customer satisfaction, and deliver new products based on the company’s strategic goals. Previously, Igor was a co-founder of Tealeaf, a San Francisco-based software company that provides visibility, insight, and answers for companies doing business online.

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About WideOrbit

WideOrbit is the leading provider of business management software for Media companies. WideOrbit provides innovative, proven solutions for managing the business of broadcast and cable operations – from proposal to order, scheduling to automation, billing and aging. WideOrbit has been helping clients since 1999, delivering high ROI, greater efficiencies and revenue optimization. WideOrbit is used by more than 4,000 television stations, radio stations and cable networks around the globe, managing more than $14 billion in advertising revenue. WideOrbit’s clients include: Astral Media, Corus Entertainment, Entercom Communications, Gannett Co., Hearst Television, Madison Square Garden, Meredith Corporation, Midwest Communications, NBC Universal, Qualcomm/MediaFLO, Scripps Television Group, and Tribune. WideOrbit is headquartered in San Francisco, with offices in Dallas, Denver, Seattle, Melbourne and New Delhi.

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