PHILIPPINES, FEBRUARY 9, 2011 – Multiply Inc. has named Jack Madrid as Country Manager for its Philippine operations. The Florida-based company operates Multiply.com, which is popular locally as a social shopping site. Multiply is a subsidiary of Myriad International Holdings, the electronic media arm of Naspers Limited, a major media conglomerate, which is also a major shareholder in the e-commerce site sulit.com.ph.
Multiply established a Manila office late last year as part of the company’s plans to transform itself as the dominant social shopping destination in Southeast Asia. The company plans to leverage on its 70,000+ strong Filipino merchant community and a similarly strong presence in Indonesia.
Madrid joins Multiply from Yahoo! Philippines where he was country manager. He has served more than 20 years in executive positions with Dell, MTV, Ayala Corporation and Citibank.
"We are delighted to have Jack onboard to lead Multiply’s ambitious plans in the Phiippines, which is to become the leading e-commerce marketplace, helping Filipino entrepreneurs take their offline businesses online," said Peter Pezaris, Multiply President & CEO. "Jack will initially focus on recruiting and building a strong local management team covering merchant sales, marketing and customer support functions, to expand and better serve our significant base. The Philippines is our bigges market and we are here for the long term."
Later this year, Multiply will launch an upgraded e-commerce platform including product listings integrated with a shopping cart and payment processing, designed to make transactions easier for its existing and new shopper-merchant communities.
