Adap.tv Appoints Timothy R. Morse as Chief Financial Officer. Adap.Tv
Sydney - Jan. 9, 2013: Adap.tv, the global leader in programmatic video advertising, announced the appointment of Timothy R. Morse to the newly created position of Chief Financial Officer.
Morse joins Adap.tv from Yahoo!, where he held the Executive Vice President and Chief Financial Officer positions from June 2009 to October 2012. Morse was responsible for all aspects of finance, investor relations, facilities, procurement and mergers & acquisitions. In addition, he served as the company's Interim Chief Executive Officer from September 2011 to January 2012. Prior to Yahoo!, Morse was the CFO of Altera Corporation (ALTR) and GE Plastics, a unit of General Electric. During his 15-year tenure at General Electric, Morse held a variety of positions at GE Plastics, GE Appliances and GE Capital in North America, Europe and Asia.
As CFO of Adap.tv, Morse will be globally responsible for finance, M&A and human resources. Morse will work with the company's senior management team to prepare the corporate and financial infrastructure for the next stage of the company's growth. In line with the international expansion of the online video advertising marketplace, Adap.tv has experienced consistent, robust growth since its inception in 2007.
"Adap.tv is a true market leader and is uniquely positioned at the nexus of video advertising's most powerful trends – the merging of traditional TV with digital and the rise of programmatic advertising technology," Morse explained. "No other company has wired more of the world's largest agencies, brands and publishers together on a unified platform than Adap.tv. I share their vision for the years ahead and look forward to helping Adap.tv further its impact on the industry."
To date, Adap.tv has experienced record growth. In 2012, it was named by Inc. Magazine as the fastest-growing video advertising company in the US in "Inc 500," its annual ranking of private companies. Adap.tv added more than 200 new customers in 2012, including some of the world's most recognisable agencies and publishers, such as VEVO and Horizon Media. This key executive addition is consistent with aggressive team expansion at all levels, as the company grew its staff 200 percent last year to over 150 employees in North America, Europe and Australia.
"Tim's depth of knowledge and proven success will be invaluable as we develop the infrastructure that will carry Adap.tv forward," said Adap.tv CEO and co-founder Amir Ashkenazi. "We're honored that a vast majority of the world's largest brands have partnered with Adap.tv to make their video advertising business more effective and efficient. Our industry leadership position is a credit to our innovative approach, superior technology and the passion of our employees."
"Because Adap.tv's proven technology platform drives measurable results for its partners, the company has experienced massive growth. In fact, one in every nine video ads is now being traded on the Adap.tv Platform," said Adap.tv board member and investor, Byron Deeter from Bessemer Venture Partners. "Tim Morse, a seasoned executive with a reputation for combining great strategy with structure, is an excellent addition to the already strong leadership team at Adap.tv."
Adap.tv is the video advertising platform of choice for the world's largest brands, agencies, publishers and ad networks. A unified, programmatic platform that provides buyers and sellers with automated tools to plan, buy and measure across linear TV and online video, Adap.tv is transforming the way video advertising is bought and sold. Named by Inc. Magazine as the nation's fastest-growing video advertising company in its "Inc 500" 2012 annual ranking on private companies, Adap.tv also earned "Fastest-Growing Private Company in Silicon Valley" honors by the editors of the Silicon Valley/ San Jose Business Journal. Headquartered in San Mateo, Calif., Adap.tv has offices in New York, Los Angeles, Chicago, London and Sydney. Adap.tv is a privately held company backed by Bessemer Venture Partners, Gemini Israel Funds, Redpoint Ventures and Spark Capital. For more information, please visit http://adap.tv/ and follow Adap.tv on Twitter @Adaptv.
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