Former Citibank and U.S. Postal Service marketing executive Loren E. Smith has become a director of Stamps.com, creator of the Postage Server technology for delivering postage over the Internet.
Mr. Smith, who worked in consumer banking at Citibank for nine years before becoming chief marketing officer of the Postal Service in 1994, joined an expanded Stamps.com board along with former Postmaster General Marvin Runyon and GeoCities founder and chairman David C. Bohnett.
Mr. Smith, an independent consultant, said Stamps.com "will revolutionize the nature of postage services, beginning with affordable cost- and time-saving access to Internet postage and professional-looking mail for businesses."
Stamps.com also announced completion of a $30 million financing round with investors led by Vulcan Ventures Inc., which is associated with Microsoft Corp. cofounder Paul G. Allen, Chase Manhattan Bank's Chase Capital Partners, Mr. Bohnett, and Mr. Runyon.