Former Yahoo CFO, Tim Morse, will take on the CFO at start up Adap.TV
Former Yahoo CFO Tim Morse, 43 years old, has decided to take a chance in one of Silicone Valley’s start ups, Adap.TV. Reports say bringing on Morse may be a sign that the start up is planning on going public within the next couple of years.
Morse was at Yahoo from June 2009 to October 2012, but spent most of autumn 2011 as the interim CEO when the board relieved Carol Bartz from her CEO position that September. Prior to Yahoo, he spent 15 years and multiple valuable positions at General Electric Plastics before becoming CFO, afterwards he proceeded to the CFO role at Altera, a Silicone Valley company that manufactures PLDs. Morse’s experience may be just what Adap.TV needs to where they aspire to be.
“It’s a massive market opportunity that Adap.TV has and I’m excited to be joining a rapidly growing company like this,” Morse said in a recent interview.
Adap.TV, which was founded in 2007, is an advertising technology company that helps advertisers buy video-advertising space on thousands of websites, including Yahoo. The video ads are usually 15 or 30-second ads that run before a viewer watches a video of their choosing.
According to a recent press release, ”Adap.TV is transforming the $78 billion TV and Video Advertising industry by putting a
Business Journal ranked Adap.TV as the No. 1 fastest growing private companies of 2012, growing by 5,448 percent between 2009 and 2011 to nearly $33 million in revenue. Company officials said they tripled revenue to about $100 million in their most recent year.ll major buyers (seven of the top 10 agencies) and sellers (eight of the top 10 publishers) on a unified trading platform. No other company has wired more of the world’s largest agencies, brands and publishers together on a unified platform than Adap.tv,”.
With over 90% of revenue coming from repeat customers each quarter, Adap.tv needs a group of leaders who can keep up with the increase growth and fast pace.
“We have super high growth, and Tim’s experience is exactly that: building corporate and financial structure for high-growth, multibillion-dollar businesses,” said Adap.TV CEO Amir Ashkenazi in a recent press release.
Source: BizJournal
