MIAMI, FL--(Marketwired - April 08, 2014) - DEVELOPMENT CAPITAL GROUP, INC. (DLPM) ("the Company") is pleased to announce the appointment of two new Executives and Directors as outlined in the 8K filing of April 3, 2014. DLPM welcomes Shahbod "Shoubi" Rastegar as the new Chairman of the Board, CEO and Corporate Secretary; and Andrew Fleischer as a new Director, CFO and Company Treasurer. Johnathan Lindsay will step down as CEO and remain as a Director.
Shahbod Rastegar, 42, brings a strong background and network in online marketing to DLPM. He is the founder, Chief Executive Officer, and Chairman of Board of Clearance.co. From its inception on April 22, 2013, until present, he has run the day-to-day operations of Clearance.co and the development of strategic opportunities. Prior to Clearance.co, Mr. Rastegar was a co-founder of NextStepSocial, a social media agency focused on creating engagement, influence, awareness and action for corporate brands, products, celebrities, athletes and publications. Earlier in his career, Mr. Rastegar served as the president and co-founder of Metrix360, LLC and Pacific Media Project, both trusted Internet consulting agencies specializing in e-commerce marketing strategies.
In 1999, Mr. Rastegar was the VP and co-founder of TrafficMarketPlace, which is still one of the top 10 largest ad distribution networks in the world. TrafficMarketPlace, now renamed epicmarketplace.com, was sold to Vivendi/Universal in 2001. Mr. Rastegar began his Internet media career in 1998 at L90, Inc., a leading digital advertising network, as VP of sales. L90 executed a successful IPO on the NASDAQ exchange in 2000. Prior to L90, Mr. Rastegar served as Director of Sales at Servinet Consulting, a San Francisco based company specializing in providing custom network infrastructure, client/server software, Internet/Intranet development, and e-business integration.
Andrew Fleischer, 45, as CFO and Corporate Treasurer his primary duties involve overseeing the Company's financial reporting, fundraising, and advising on business strategy. Mr. Fleischer is the President of Strategic CFO Services, LLC, a Maryland-based business advisory professional services firm that provides CFO consulting services to technology firms, manufacturers and distributors, contractors, and other service businesses.
From 2008 to 2010, Mr. Fleischer was the Chief Financial Officer, North America, of GoIndustry-DoveBid PLC, a publicly-traded international e-Commerce leader in the online auction of used industrial assets. Mr. Fleischer played a key role in the integration of US-based DoveBid, Inc. into London-based GoIndustry PLC. From 2000 to 2008, Mr. Fleischer was the Chief Financial Officer of Alabanza Corporation and BulkRegister.com, Inc., industry leading Internet infrastructure companies. From 2004 to 2008, Mr. Fleischer was a Director and Treasurer of privately-held Alabanza Corporation. In 2006 and 2007, Mr. Fleischer led two successful divestiture transactions to sell BulkRegister and Alabanza to achieve shareholder objectives. From 1996 to 2000, Mr. Fleischer held financial and systems management positions with Honeywell that included implementing new financial systems and pricing service contracts. From 1990 to 1996, Mr. Fleischer held auditing and advisory roles with national and regional public accounting firms.
Mr. Fleischer is a licensed Certified Public Accountant (CPA) and received his Master's in Business Administration (MBA) from The Johns Hopkins University.
President, Joseph Ricard said of the recent appointments, "It is truly and honor to have the caliber of expertise that Mr. Rastegar and Mr. Fleischer bring to the Company. DLPM is building a management team that has a proven track record and we feel these are the ingredients for a successful future."
About Development Capital Group, Inc.
Development Capital Group, Inc. (DLPM) develops businesses and technologies with significant potential for growth and customer acquisition. The Company analyzes market trends and seeks opportunities to develop innovative technologies that capitalize on antiquated or under-serviced sectors. Our first internal application RealtyValuator.com is currently in private beta analyzing real-estate auction data for the State of Florida. For more information visit www.DevelopmentCapital.com.
Clearance.co is revolutionizing the shopping experience by bringing customers the finest quality, the best selection, the best service, and the lowest priced merchandise. Working directly with Manufacturers and Distributors, Clearance.co is the premiere online destination for close-out and clearance products and genuinely helpful customer service. Clearance.co is headquartered in Los Angeles, California. For more information visit www.clearance.co.
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Safe Harbor Statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the Company's results of operation, financial position and long-term strategies. These forward-looking statements involve risks and uncertainties that include, among others, risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, commercial agreements, acquisitions and strategic transactions, and fraud. More information about factors that potentially could affect the Company's financial results are included in the Company's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-Q or 10-K and subsequent filings.