Local-Mobile Ad Network xAd Doubles Traffic in Past Four Months, Looks to Scale Operations With Two Senior-Level Management Additions
San Francisco — Mobile-local advertising network xAd today announced the hiring of two senior-level managers, part of the ongoing expansion of its executive team. Babak Dehnad is joining as Vice President of Global HR and Steve McCarthy is the new CFO. The company has seen impressive growth over the past year, expanding its staff as the demand for mobile-local advertisements grows.
McCarthy, xAd’s new CFO, comes from private equity, where he oversaw finance, accounting and operations for all fund-portfolio companies. McCarthy has extensive experience with technology companies, including MySQL, Vitria Technology, Exodus Communications and Centura Software. In his new position, McCarthy will be responsible for all aspects of finance and accounting.
“I’m very excited about joining such a talented team with such an amazing opportunity,” said McCarthy. “I look forward to being a part of a sector with such impressive growth and to joining a team that has a solid track record of exceeding plan-to-market results.”
Dehnad, xAd’s new vice president of global human resources, comes to the company with an impressive résumé in recruiting and experience working with tech start-ups. Previously, he held multiple HR leadership positions at software and technology companies, including Phoenix Technologies, MySQL, Taleo, Zambeel and QRS Corporation. At xAd, Dehnad will be responsible for continuing to expand the team globally and to develop business results through existing employees.
“I’m thrilled to be an xAder,” said Dehnad. “I look forward to scaling our workforce; supporting xAd’s incredible growth; and serving our publishers, advertisers and partners in the U.S. and abroad.”
In addition to the hiring news, xAd today announced it has served two billion mobile-local ad requests, a significant milestone for the company. After serving one billion ads in the first 18 months since launch, xAd doubled this in the past four months, serving another one billion ads since January.
Mobile-local advertising has seen explosive growth in the past year. The U.S. local-mobile industry is currently estimated to be a $213 million market, and it’s expected to exceed $2.025 billion by 2014, according to BIA/Kelsey.
“We’ve seen impressive growth since our launch, and it’s exciting to watch the demand for local-mobile advertising skyrocket, which will be a key part of the market growth,” said Dipanshu “D” Sharma, CEO of xAd. “2011 seems to be the year of mobile advertising, and xAd is establishing itself as a leader of this rapidly expanding local-market segment.”
xAd has become the mobile-ad network of choice for third-party developers and publishers who specialize in local, navigation, social and directory applications and who seek better content relevance and monetization of their products. Local-mobile ads are highly actionable and trackable for advertisers and publishers: Twenty-five percent of clicked-on ads lead calls to businesses.