Verve Names New CEO, Readies for Expansion

Verve Wireless has named Tom MacIsaac as new CEO. Art Howe, co-founder of Verve and prior CEO, will remain as Chairman. According to the press release that went out this morning:

Tom was CEO of ExtendMedia, which he grew into the leading IP video platform serving major operators, including AT&T, Verizon and Bell Canada, and leading movie studios, including Disney and Paramount. Extend was acquired by Cisco Systems in September 2010. Previously, Tom served as CEO of Lightningcast, a pioneer in online video advertising where he led the development of the first advertising technology platform specifically designed for monetizing broadband video and launched the first online video ad network. After AOL acquired Lightningcast in 2006, Tom served as SVP Strategy overseeing strategy, strategic planning and corporate and business development for AOL's market-leading advertising business, Advertising.com. Prior to Lightningcast, Tom was founder and CEO of Backwire, an online and mobile messaging company that was acquired by Leap Wireless in 2001. Prior to his career in digital media, Tom was a corporate lawyer with the global law firm Dechert.

Verve is positioning itself as a premium local display ad network for mobile. It originally developed its network, like Quattro and others previously, by building and hosting publisher (primarily newspaper) mobile sites. The company is focused on both national-local and small business advertisers. It has a presence in the "top 200 markets" in the US. 

Recently surveys by Handmark and Pew show the degree to which mobile has become an important and even preferred news medium, especially for breaking news. According to the Handmark survey (n=300,000):

Mobile has pulled ahead of the desktop web as the preferred medium to access breaking news information. More than 30% of respondents surveyed feel mobile is the most important medium to access breaking news, compared to 29% who prefer the desktop web, 21% who prefer television, and a mere 3% who chose newspapers as their the most important medium for breaking news.  

This will be a significant year for mobile advertising and growth. The foundation has been laid in the form of consumer adoption of smartphones and mobile in general. Regardless of which mobile ad forecast one points to, the medium is now a critical one -- both for publishers and advertisers seeking to build awareness or to drive offline purchases. 

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