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NotePad Ventures Invests in and Strikes Key Strategic Partnership for Scottsdale-Based Buildproof(Marketwire Via Acquire Media NewsEdge) SCOTTSDALE, AZ, October 14 / MARKET WIRE/ -- NotePad Ventures (NPV), a full-service investment group, today announces its investment in leading construction services e-commerce company Buildproof. NPV made a substantial investment in Buildproof and orchestrated a strategic alliance between the company and one of the biggest brands in the online contractor services market, ServiceMagic.com, the nation's leading website connecting homeowners to prescreened home services professionals. Service Magic is an operating business of IAC/InterActiveCorp (NASDAQ: IACI). "Buildproof was a company we immediately saw opportunity with," said Jeffrey Rassas, co-founder of NotePad Ventures, and Chairman of the Board for Buildproof. "Having built and sold one of the leading ventures in the remodeling and professional contracting services industry, ImproveNet.com; I believed in Buildproof's model and knew we could leverage our deep relationships in the sector and understanding of the industry to position Buildproof and accelerate execution of its business plan." Buildproof is a secure payment and communication system for construction and remodeling -- helping homeowners and contractors manage projects smarter, easier and safer. The company positions itself as the safehouse for home improvement. Its secure online system allows homeowners and contractors to manage communications; agree to project timelines, and then securely deposit, dispense and access payments for their projects effectively minimizing communication errors between homeowners and contractors. This convenient and safe online portal ensures both the homeowner and contractor respectively that their money is safe and that funds are available to help facilitate the completion of projects in a timely and mutually agreeable fashion. "NotePad Ventures has been a true partner from the start," said Alan Farber, CEO, Buildproof. "Of course money is important to start up ventures like Buildproof, but what set NPV apart from the rest, and why we're so pleased to be working with them was the immediate, roll-up-your-sleeves strategic input and tactical support we got from the NPV team right away. From helping us restructure our financial position, to leveraging its contacts to help us negotiate what we believe will be one of our best partnerships, the NPV team has been incredible. This group is the real deal." Since launching in late 2007, NPV has launched two funds and expects to invest up to $5M in Arizona-based companies in the near term. A portion of those funds have already been invested in half a dozen portfolio companies in the software, retail and energy sectors. About NotePad Ventures NotePadVentures (NPV) is the venture and human capital company. We provide early stage capital and strategic management services to entrepreneurs and small business owners in the software, services, retail, energy and manufacturing sectors. Our market is growth and turnaround companies whose products, services and leadership teams demonstrate potential for significant returns. Unlike investment groups who provide only funding, built into every deal, NPV is the provision of our unique "Pen to Paper" strategic services and tactical support to our portfolio companies. NPV avails its portfolio companies of a range of management services from a team of talented, seasoned and successful entrepreneurs, corporate leaders and investors with combined experience of more than 200 years. History is littered with thousands of "scribbles" on note pads that have gone on to become world-class brands and great companies. In the same vein as other powerful venture funds like Garage Ventures, Kleiner Perkins, or Hummer Winblad who have brought us market leaders like Dean & Deluca, Google, Amazon, MySpace, MobiTV and kaboodle; NotePad Ventures plans to bring the next generation's best scribbles to the world, changing fortunes, industries and lives in the process. For more information, visit us at www.notepadventures.com. About Buildproof Buildproof is an online payment and project management system for homeowners and contractors that removes the unnecessary financial risk and anxiety from home improvement projects and renovation. Buildproof's mission is to bring safety, simplicity and stability to the construction and remodeling industry. Buildproof provides a protected environment for both contractors and homeowners, to facilitate timely and proper payment, improve communication, and clear milestone and deadline management. For additional information, please visit www.buildproof.com, e-mail [email protected] or call 480-751-1012. Contact: Lauren Moye E: Email Contact O: 1.800.901.5822 ext. 200 Copyright ? 2008 Marketwire |