American Express and vente-privee.com Announce Mike Steib as CEO of U.S. E-Commerce Joint Venture

NEW YORK--()--American Express (NYSE: AXP) and vente-privee.com, the global leader in online private sales, today announced Mike Steib as the Chief Executive Officer of a joint venture between the two companies to bring vente-privee.com’s industry leading online store for luxury goods and lifestyle products to the U.S. market. Steib will work to leverage the assets and long-standing relationships of both American Express and vente-privee.com to build the joint venture into a leader in the U.S. online private sales market. He most recently served as Director of Video Advertising for Google’s Americas Operations.

“We knew that we needed a dynamic, energetic leader for the joint venture and Mike was a clear choice for the role,” said Dan Schulman, Group President, Enterprise Growth, American Express. “He brings a wealth of technology experience to the role, and has a track record of leveraging data and analytics to build new businesses – exactly the task ahead for our joint venture.”

“Our business is built upon creating a rich online shopping experience and developing deep relationships with our brand partners. Mike has exactly the right mix of technology background and relationship building that we need to launch and grow vente-privee.com in the U.S.” said Jacques-Antoine Granjon, CEO and founder, vente-privee.com.

“I’m thrilled to have such a remarkable opportunity to launch and build this new e-commerce venture backed by two of the world’s most respected, service-oriented brands,” said Mike Steib. “This is a transformative time in the development of commerce and the internet, and I am confident that our venture will provide consumers and brands a unique offering in the U.S. market.”

Prior to accepting his new position as CEO of the joint venture, Steib was Director of Video Advertising for the Americas region at Google. He had previously led Google's Americas business teams for its emerging ad products - including Mobile Ads, Local Ads and Commerce. During his time at Google, Steib led the launch of Google TV Ads, the leading online marketplace for buying television advertising.

Before joining Google, Steib was the General Manager of Strategic Ventures at NBC Universal, where he led the creation of new digital businesses and received the GE Imagination Breakthrough award for the launch of NBC Weather Plus, the first all-digital broadcast television network. Mike previously served as vice president in the NBC Corporate Development group and prior to that he worked on the incubation of new media businesses for Walker Digital, LLC. Steib also spent two years as a management consultant with McKinsey & Company.

Steib has been granted a number of accolades in recent years including being named one of Crain’s New York 40 Under 40 professionals, one of TV Week’s 2008 “Twelve to Watch”, and Multichannel News’ top “40 Under 40”. Steib holds three digital media patents and is a graduate of the University of Pennsylvania.

To learn more about the joint venture, visit www.vente-privee.com/USA.

About American Express

American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at www.americanexpress.com and connect with us on www.facebook.com/americanexpress, www.twitter.com/americanexpress and www.youtube.com/americanexpress.

About vente-privee.com

World No. 1, vente-privee.com has pioneered the online sales event concept. Specializing in selling brand overstock since 2001, the online retailer organizes exclusive event-based sales for its 13 million members. Featuring more than 1,200 major international brands, the website offers a wide range of product categories: from fashion to homeware, sports products to electronics. The members-only sales last from two to four days and, thanks to privileged partnerships with brands, offer irresistible discounts of up to 70%.

Contacts

American Express
Sarah Meron, 917-727-2430
sarah.b.meron@aexp.com
or
Patrick Jones, 212-640-4705
patrick.jones@aexp.com

Contacts

American Express
Sarah Meron, 917-727-2430
sarah.b.meron@aexp.com
or
Patrick Jones, 212-640-4705
patrick.jones@aexp.com