EL SEGUNDO, CA--(Marketwired - Mar 24, 2014) - Fuhu, Inc., creator of the award-winning nabi® tablet -- the world's first Android tablet built just for kids -- announced today the appointment of Peter V. Coleman, as Chief Financial Officer effective immediately. Mr. Coleman, who brings over 20 years of financial management and investment banking experience focused on technology companies, will report directly to Jim Mitchell, Fuhu's CEO.
At Fuhu, Mr. Coleman will be responsible for the Company's corporate finance and accounting functions, manage the Company's relationships with investors and partners, and conduct internal and industry analysis to support the Company's goals for growth.
Mr. Coleman joins Fuhu from LOYAL3 HOLDINGS, Inc., a San Francisco-based start-up financial technology company that leverages social technologies to democratize the capital markets, where he served as Chief Financial Officer beginning in 2012. At LOYAL3, Mr. Coleman had direct responsibility for building the finance, accounting, HR, regulatory and general operations departments and played a lead role in the company's raising $60 million through a total of four primary rounds. Prior to LOYAL3, Mr. Coleman was Chief Financial Officer at Merriman Holdings, Inc. ( OTCQX : MERR ), from 2008-2012, where he executed the financial and operational turnaround of the publicly traded financial services firm. At Merriman he formed the Media and Entertainment Banking Group which focused primarily on studios, exhibitors, gamers and other media content and delivery solutions. He also served concurrently as Chief Executive Officer of Merriman's primary subsidiary, Merriman Capital, Inc. From 2004-2008, he was Chief Operating Officer and Chief Financial Officer of ThinkEquity Partners, LLC where he also served as a member of the firm's Board of Directors and Global Management Committee.
"Peter brings extensive strategic, financial and accounting experience as well as a deep understanding of the technology and media content development and distribution industries to his new role," said Jim Mitchell, CEO of Fuhu. "This background will be invaluable to our management team and finance and accounting departments as we continue to focus on growing the company through the delivery of custom experiences and solutions. I am confident that Peter's experience will enable him to quickly play a key role in our future growth and success."
"I am very excited to join Fuhu at a time of tremendous product innovation and growth," commented Peter Coleman on his appointment. "Fuhu offers a compelling value proposition through the consistent introduction of new and unique experiences for specific markets through technology and integrated solutions that pave new roads. I look forward to working with Jim and the entire Fuhu team to achieve the Company's strategic and financial goals."
Fuhu was recently named America's #1 Most Promising company (2014) by Forbes Magazine and America's #1 Fastest Growing Company (2013) by Inc. Magazine. The nabi tablet currently ranks as the #1 best-selling tablet for kids and #2 best-selling Android tablet in retail. Fuhu's nabi ecosystem of grown up tech for kids -- including sound-adjustable headphones, all-terrain cameras, and other sleek accessories -- are now carried in the electronics area of over 17,000 retail locations with major national support from retailers including Wal-Mart and Target. Later this year, Fuhu plans to introduce a new premium tablet, The DreamTab (in collaboration with DreamWorks Animation), a new operating system and compelling new content and ecommerce experiences.
Beginning in 1997, Coleman was a highly regarded equity research analyst covering the software industry at Schwab Capital Markets/Soundview Technology Group and at Bank of America Securities, LLC. He also was an analyst in the high yield research department for Montgomery Securities prior to its acquisition by NationsBank/Bank of America. Mr. Coleman holds a B.A. in Business Administration from the University of San Diego.
About Fuhu, Inc.
Fuhu, Inc., the creator of the nabi tablet, is the leading designer, seller and innovator of thoughtful consumer products and services for children. Fuhu is committed to creating children's solutions that are: (1) socially responsible, (2) made right, (3) make a difference in people's lives, (4) For Parents. By Parents. ® and (5) dedicated to the intellectual development of children. Fuhu, Inc. is the No. 1 Fastest-Growing Private Company amongst 5,000 in America as ranked by Inc.'s exclusive 32nd Inc. 500|5000 list. Fuhu is headquartered in El Segundo, Calif., with offices in Denver, San Jose, China, Hong Kong, Taipei and Japan. For more information, visit www.fuhu.com and www.nabi.com.