TeachStreet announces Chicago Teacher and Class Expansion and New $1.2 Million Funding at WTIA Fast Pitch Forum Showcase

SEATTLE, WA — May 27, 2009 – TeachStreet (http://www.teachstreet.com), the first website dedicated to helping local teachers and students connect with one another at the neighborhood level, was proud to be selected as a presenter for today’s 2009 Fast Pitch Forum and Technology Showcase, hosted by the Washington Technology Industry Association (WTIA) (http://www.washingtontechnology.org). At the event, TeachStreet announced that it expanded to Chicago, its sixth market, bringing combined site selection to more than 140,000 classes and teachers (including thousands of Chicago teachers and classes!).  In addition, they announced an additional $1.2 million round of financing from existing investors and management team.

“Washington is home to some of the fastest growing and most innovative technology companies in the world, but until now we have not had a start-up technology showcase event to match those in the Silicon Valley or New York,” said Ken Myer, president and CEO of the WTIA. “This year, with the new format and new name, our Fast Pitch Forum and Technology Showcase will serve as the premier event for local rising stars.”

“We’re not only thrilled to announce our recent expansion to the Chicago area at today’s Fast Pitch Forum and Technology Showcase, but also expect to add teachers and classes in my hometown of Philadelphia, in coming weeks,” said Dave Schappell, founder and CEO of TeachStreet. “The additional funding will provide us the resources to add to our customer solutions, and continue our market penetration.”

TeachStreet offers teachers and schools of all sizes a one-stop solution to list and promote their classes, events and articles (including San Francisco-area piano and guitar classes) – promotional exposure is not limited to TeachStreet, but extends to popular online services such as Craigslist, Facebook, MySpace, and more.  All TeachStreet services are currently free, but Schappell hints that premium services are imminent, “In our January 2009 Survey, teachers told us that they love the promotional services we’ve built to support their businesses, but that they wanted more tools like payments.  We know that we’ve driven more than 150,000 interested leads their way, so we’re excited to soon provide them premium performance-based tools to more effectively grow and manage their businesses.”

The event will feature presentations from 23 of Washington state’s most interesting and promising companies. Attendees will hear presentations from our region’s leading entrepreneurs and watch as the next generation of Northwest start-ups gets direct input from leading VCs and angel investors about market strategy, business plans and products. Tim Draper, founder and managing director of Silicon Valley’s leading VC firm Draper Fisher Jurvetson, will keynote the event. More information about the Fast Pitch Forum and Technology Showcase is available on the WTIA’s Web site: http://www.washingtontechnology.org.

About the Washington Technology Industry Association
The Washington Technology Industry Association, founded in 1984, is the largest statewide association of technology companies, IT departments and individual technology professionals in North America. With more than 1,000 member companies representing more than 100,000 employees in Washington State, the association is a catalyst for sharing expertise, fostering collaboration, delivering key business services and advancing the value and global impact of technology companies doing business in Washington. The association’s global partners are Davis Wright Tremaine LLP, Microsoft, Regence BlueShield, Sun Microsystems, Vertafore and Wells Fargo Insurance Services. The association’s funding partners are AH&T Insurance, F5 Networks, Moss Adams and RealNetworks. For more information, go to www.washingtontechnology.org.

About TeachStreet
Founded in June 2007, TeachStreet is dedicated to helping students find great local teachers, and empowering teachers with robust online tools to manage their teaching businesses. Featuring more than 140,000 classes and instructors in Seattle, Portland, the Bay Area, Denver, New York (New York Spanish and Yoga classes), and Chicago, the free site provides the information that students need to make informed decisions about their learning experiences, including student reviews, teacher recommendations, pricing information, location, teacher training, and more. TeachStreet is headquartered in Seattle, WA and backed by Madrona Venture Group. For more information, visit www.TeachStreet.com.