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X PRIZE Foundation Hires Mark Goodstein as Executive Director…

X PRIZE Foundation Hires Mark Goodstein as Executive Director…

New prize to inspire entrepreneurial innovation in the automotive industry

SANTA MONICA, Calif.--(BUSINESS WIRE)--March 6, 2006
--The X PRIZE Foundation has announced that Mark Goodstein will join as Executive Director of a new prize that will inspire entrepreneurial innovation in the automotive industry.

"The X PRIZE is about changing paradigms," explains Goodstein. "The current paradigm is that it's perfectly acceptable to drive a car that only gets 20 or 30 miles per gallon. This prize is about leveraging cash and opportunity to effect positive change in the environment, economy and geopolitics."

Goodstein was a founder of GoTo.com, which became Overture Services and is now Yahoo's search marketing company. He helped define and launch this disruptive search engine company in 1996 creating $250 billion in market capitalization today.

"We are extremely excited to have Mark join X PRIZE," said Chairman and Founder Peter Diamandis. "His proven leadership skills and creative approach to problem solving will make for a very productive and exciting competition."

Most recently, he founded X1 Technologies in 2002, helping to spark the desktop search revolution. Along the way, X1 picked up awards and plaudits of all kinds, including the coveted Technical Excellence award from PC Magazine. He directed product and company strategy, and was responsible for Yahoo's licensing X1 as its desktop search product. He also started Intranets.com (purchased by WebEx) and Blackdart, an office supplies e-commerce company, and served as the general manager of a streaming media company called FasTV.

Goodstein has a degree in history from the University of Chicago.

ABOUT THE X PRIZE FOUNDATION

The X PRIZE foundation is an educational nonprofit prize institute whose mission is to create radical breakthroughs for the benefit of humanity. On October 4, 2004, the X PRIZE foundation captured world headlines when Mojave Aerospace Ventures, led by legendary aircraft designer Burt Rutan and Microsoft Co-founder Paul Allen, built and flew the world's first private vehicle in space twice in two weeks to win the $10 million Ansari X Prize. The Foundation has since expanded its mission beyond space exploration to offer new prizes for breakthroughs in the areas of life improvement, equity of opportunity and sustainability. In October of 2006, the X PRIZE Foundation announced the $10 million Archon X PRIZE for Genomics, which will reward the first private effort to map 100 human genomes in 10 days, ushering in a new era of personalized preventative medicine. For more information please visit www.xprize.org or email us.

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