TORONTO - July 27, 2009 - b5media, a leading online media company, today announced that Elaine Kunda has been named chief executive officer, effective immediately. Kunda succeeds Jeremy Wright, b5media’s founding chief executive officer. In addition to her role as CEO, Kunda will serve on b5media’s board of directors. Wright will continue to serve on the board of directors as well.

"Elaine is exactly the right leader for b5media, with her strong leadership and proven ability to lead top performing teams,” said John Albright, managing partner of JLA Ventures. “We look forward to continuing our investment in b5media as they continue to build on their position as a leading online media company."

"b5media is an exciting company with a fantastic collection of brands and assets, and an incredibly talented team,” said Kunda. “I believe there is an extraordinary opportunity to create additional value and new possibilities for our customers, partners and employees. The Company has accomplished a great deal in its relatively short history and I look forward to working together to take it to the next level."

Jeremy Wright said, "I couldn’t be more pleased with the Board’s choice of Elaine as CEO and look forward to continuing to serve b5media on the board of directors. I am confident Elaine is the ideal person to take b5media forward and I’m honoured to be here as a resource in any way I can. For the past five years, I’ve poured all of my energy into building this company – I look forward to continuing to see it grow and helping where I can to build on each success."

Kunda has spent the last three years with ZipLocal Inc. as president and chief executive officer. Prior to that, she spent six years with Metroland Media Group working specifically with Toronto.com, which was Canada’s top online regional portal. Kunda holds a BA in sociology from McMaster University.