Former Idealab General Counsel Joins to Support Company’s Rapid Growth
LOS ANGELES, September 26, 2012 OpenX Technologies, Inc. (OpenX), one of the world’s leading providers of digital and mobile advertising technology, today announced the appointment of senior industry attorney Douglas McPherson to the newly created role of chief legal officer. With 20 years of legal experience, McPherson will oversee OpenX’s worldwide legal affairs including mergers and acquisitions, strategic partnerships, intellectual property initiatives and international expansion. McPherson will report to chief executive officer Tim Cadogan and will be part of the Company’s executive management team. The appointment is effective immediately.
“Doug’s background is exceptional. His experience leading legal affairs for Idealab and its fast-growing operating companies means he has seen almost every conceivable situation. That experience will prove extremely useful at OpenX given our high rate of growth and the increasing sophistication of our business,” said Tim Cadogan, chief executive officer, OpenX. “I look forward very much to Doug’s counsel and guidance as we continue to accelerate our global growth.”
Already this year, OpenX has made its first acquisition, formed or extended significant international partnerships and opened an office in Tokyo. The Company announced a partnership with Samsung Electronics Co., Ltd. to power the new Samsung AdHub Market mobile exchange, and extended its OpenX Market Japan partnership with cyber communications, inc., a subsidiary of Dentsu Inc., to include mobile inventory. At the start of the year the Company announced that it achieved full-quarter profitability for the fourth quarter of 2011, a revenue run rate of more than $100 million and completed its first acquisition with the purchase of breakthrough technology company LiftDNA. And in July 2012, the Company announced that it would be opening a fifth data center to serve the approximately 5,000 publishing clients worldwide that rely on its Software-as-a-Service platform and to manage the more than 1 million bids per second it handles at peak in its exchange.
Prior to joining OpenX, McPherson served as General Counsel, Vice President of Corporate Development and Secretary for Idealab for more than a decade. At Idealab, McPherson oversaw all legal and governance matters including the initial public offering process for various companies, leading numerous stock financing and company acquisitions including company sales to Google and eBay, and creating intellectual property strategies for the operating companies. In connection with the transition, he will be joining the Idealab Board of Directors.
Previously, McPherson served as Chief Legal Officer and Vice President, Business Development for Ticketmaster Online-CitySearch (and its predecessor company, CitySearch), where he managed the acquisitions of Ticketmaster Online, Match.com and CityAuction and an initial public offering that raised $110 million. Before CitySearch, Doug was with the law firm of Heller Ehrman LLP. He also served as a law clerk for a federal district judge and worked for The Rockefeller Foundation in New York City.
“I’m delighted to join Tim and the team at OpenX to help build an in-house legal function,” said Douglas McPherson, chief legal officer, OpenX. “The Company has proven its ability to scale, attract leading investors and provide its innovative revenue serving platform to the thousands of businesses with which it works. I’m especially looking forward to building the legal team to facilitate OpenX’s expansion.”
McPherson holds a J.D. from Stanford Law School, where he served on the Stanford Law Review and Stanford Environmental Law Journal, an M.A. in Greek and Roman History from the University of California, Berkeley and a B.A. in Classics from the University of North Carolina at Chapel Hill, where he was a Morehead-Cain Scholar.
OpenX is one of the world’s leading providers of digital and mobile advertising technology, enabling businesses to manage and maximize their ad revenue. OpenX products, including OpenX Enterprise, OpenX Market and OpenX Lift provide a comprehensive Software-as-a-Service platform by combining ad serving, an ad exchange and a breakthrough approach to yield optimization.
OpenX Technologies, Inc. is based in Los Angeles and is backed by leading investors including Accel Partners, Index Ventures and SAP Ventures.
For more information, please visit www.openx.com
OpenX is a trademark of OpenX Limited.
OpenX Media Contact: James Aldous 1.626.696.2554 firstname.lastname@example.org