AdReady Puts New Funding to Use By Poaching Two Bigwigs
ADOTAS – The company that hopes to democratize display advertising – by making it possible for anyone to build a campaign in “minutes” – has snagged two executives from sprawling search and software behemoths. AdReady plucked an AOL and a Microsoft Corp. exec to spearhead revenue-spiking and strategy initiatives, the company said today.
The self-service online ad company has appointed Mark Feldman senior vice president of sales and business development and Saleel Sathe vice president for product management.
Feldman hails from AOL where he was vice president of network development; he will direct AdReady’s revenue initiatives, manage the sales organization and build partnerships. “My experience at AOL in evaluating, partnering with and acquiring technology and online marketing companies provides me with a unique perspective and allows me to see the value and potential of AdReady’s game-changing solution for marketers,” said Feldman. “I am excited to be joining the talented AdReady team in building a major Internet advertising company.”
Sathe was director of product management at Microsoft’s adCenter; at AdReady, he will develop product strategy and guide products from conception to launch. “AdReady’s self-service solution is at the forefront of the next wave in Internet advertising,” said Sathe. “I look forward to working with the AdReady team to create easy-to-use products that satisfy customers’ needs, bringing these products to market in a timely fashion and using customer feedback to enhance our offerings.”
“Mark and Saleel bring a wealth of experience and knowledge in online advertising to AdReady, and will greatly enhance our ability to meet the growing demand for our self-service ad solution,” said Aaron Finn, AdReady’s CEO. “As small and medium size businesses increasingly look to online marketing, AdReady is perfectly positioned to provide them with an easy and effective way to reach customers.”
In December, AdReady raised $10 million from Bain Capital, Khosla Ventures and Madrona Venture Group. Madrona had already invested $2 million in AdReady, bringing its total up to $12 million. At the time of the cash influx, AdReady founders Aaron Finn, Eric Kolve and Dave Sliwa said the funding would go toward hiring additional employees and expanding its marketing budget.
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